Explain to me why decentralised applications have better privacy

It gets always said that decentralised applications have better privacy than web2 application because we do not have evil central parties tracking our data anymore. But if I see it correctly, all the data in a decentralised application is stored on the blockchain such that anybody can read my data. That way there is no privacy at all and every evil party can do whatever they want with my data. Is the data encrypted, or what and if so how can someone share data then?

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Am I wrong and if so explain to me why?

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11 thoughts on “Explain to me why decentralised applications have better privacy”

  1. decentralisation doesn’t inherently mean better privacy. Interacting with a smart contract with known public rules is better than a centralised party. For privacy, you’d need to use a mixer.

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  2. discover Secrwt Network and you’ll unserstand. btw crypto isn’t private by default as every txn is visible. it CAN be anonymous but not private

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  3. With centralisation there’s a lot of strings attached to it. A lot of greedy people want your money and want to apply regulations to your money to squeeze more money out of you.

    With decentralisation there’s none of these regulations, no strings attached, no one regulating your money. However that means it’s your responsibility to look after your money, not someone else’s responsibility. Which can be considered both a pro and a con

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  4. Decentralization is not a promise of privacy but of hyper-redundancy in terms of availability, connectivity and uptime without a singular authority.

    While you don’t have to visit a ‘bank’ to open an ‘account’ and they can be anonymous, you’ll probably tie it to one of your CEX accounts as a source of buying tokens, sooner or later.
    Not everyone cares to hide so to most people that’s perfectly fine.

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  5. They don’t have to have better privacy, but since their code is open source, if they were spying on you, you’d be able to find out. At least in that one app. I guess there’s nothing stopping them from building another secret app that analyzes and sells the data from the decentralized one.

    Each app is unique and does not guarantee the privacy you think you have. Always DYOR on each app if you’re concerned (and you should be).

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  6. They don’t increase privacy at all, and they are the opposite of private. Everything is on a immutable public ledger.

    This is why fully shrilded blockchains are the only way forward imo. Monero, and PirateChain are tye leaders in privacy.

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  7. Most blockchains are pseudo anonymous, so privacy isn’t the main goal.

    Unless you’re talking about something like Monero where privacy is one of their main features.

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