What key advantage does a decentralized network offer over traditional systems?

A decentralized network offers a significant advantage by eliminating the costs associated with third parties. In traditional systems, intermediaries, such as banks or brokers, often facilitate transactions, which introduces extra fees and potential delays. By removing these intermediaries, decentralized networks allow users to interact directly with one another, facilitating smoother transactions and potentially reducing costs. This improvement can enhance efficiency and accessibility, particularly in scenarios where traditional intermediaries may impose high fees or have slow processing times.

On the contrary, while faster transaction processing might be occurring in some instances, it is not inherently guaranteed in all decentralized systems. Additionally, the reduction in the amount of data stored is not a defining characteristic of decentralized networks and can often require more data to maintain multiple copies across a network. Lastly, a decentralized network fundamentally opposes reliance on centralized authorities, instead promoting trustlessness and autonomy among users. Thus, the elimination of third-party costs stands out as the most defining advantage in this context.