Space is not Fully Decentralized | Ecency

3-2-2018 Friday

Minor deliveries before the downpour of the rain. Apartments are always a maze to be in. One has to have a good sense of direction to navigate around these living quarters.

Doing some work gives me a little moment to think about what's happening in the market right now. With Bitcoin rising and the alts falling, decentralization enthusiasts must question the validity of some of the blockchains as being fully decentralized. In a recent article I read on decentralization, Bitcoin & Ethereum were stated as having the most distributed nodes in the entire crypto ecosystem. Their servers are distributed all around the world. Other top coins like NEO, Iota, and Ripple have a centralized authority and are not as immutable as we think they are.

" If there's a killswitch, then it's not a real blockchain."

Some of the centralized coins / alts are very risky but are definitely rewarding in the right market. It's quite a shocker to discover how vulnerable these alt coins may be in these bear markets. It makes me value Bitcoin & Ethereum all the more.

Most of these alt-coins plan to become more centralized in the future, but I feel like those who are in power want to keep power. I must admit, i'm losing more and more faith in the newer Proof of Stake coins. I am not sure of the effectiveness of inflationary policy, but it has proven to work for some governments. Proof of Stake is essentially the endless printing of money to fund specific purposes. This is still a speculative market, and proper leadership will bring Ethereum or alts to the next level.

In the end, I appreciate two coins the most. That is Bitcoin & Ethereum. Bitcoin has the most secure network while Ethereum has the most widely distributed network. The value really comes in for the technology that is most decentralized. That is what this space is about. Scaling faster has the major tradeoff of centralization. This could be implied in market movements. The more distributed nodes a coin has results in more leverage in the price.

https://news.bitcoin.com/most-cryptocurrencies-are-more-centralized-than-you-think/

It should be reinforced that the true value lies in which crypto-currency is more decentralized. The more decentralized a cryptocurrency is less vulnerable to location specific attacks.

The contending coin in the decentralized space is Monero, but it is nowhere near the distribution levels of Bitcoin or Ethereum. I'm very curious about Ethereum Classic, but I could not find sources anywhere on the supply centralization. This is a good project, but it will never scale because it does not utilize Proof of Stake. This year, the market will prove the value of Proof of Stake coins. I think it's something to watch out for! Proof of Stake is too young and vulnerable. Vitalik may have already forecasted the issues with Ethereum. In the past, he must have thought Proof of Work is the best mechanism to decentralize.

Now it is the most decentralized coin. So does Vitalik know something that we don't? Let me know!