Cryptocurrency Is Already Decentralized And Is Getting More So
Some make the case that cryptocurrency is not decentralized. They make the case by looking at a particular one, usually a Bitcoin and seeing the token distribution. Or they look at the mining pool only to realize that a handful of miners control the hashrate.
The reason why one reaches this conclusion is because the view is too narrow. Thus, it is best to step back and view the totality of the entire system.
When we look at the number of tokens out there, we see there are thousands. These all have different owners. At the same time, looking at those validating the transactions, we see the same thing. Those who are heavy hitters in Bitcoin are not the same ones as in Litecoin. They certainly are different from those on EOS, who are mostly separate from the Ethereum crowd.
▶️ DTube
▶️ IPFS
Any way you look at it, Crypto as a scene is waaaaay more decentralised than the government!
@tipu curate
Thank you for that. I do appreciate it.
Upvoted 👌 (Mana: 0/20)
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Bitcoin is already decentralized.
It will take more time to make Steem more decentralized.
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I agree about BTC but many claim that it is not due to the mining power some entities have.
Yes time will cause more decentralization especially with more apps being developed and different tokens showing up.
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