It is a characteristic as its non - centralized authority that it is not an exaggeration to say the biggest feature of the virtual currency.
Currency function by peer-to-peer (P2P) communication, traceable currency exchange is realized by innovative technology.
So why are so many virtual currencies configured like central banks?
From Wallet Balance Adjustment to Managing Nodes, many virtual currency projects function in the same way as financial institutions that were originally supposed to be virtual currency suppliers.
It seems that many altocoin are not trying to differentiate themselves from existing payment services such as Paypal and Visa.
Centralized virtual currency
The term "non-centralized" is not described in the original white paper of Mr. Satoshi (the word "block chain" is not mentioned), bit coin and its successor, Alto Coin developer It was named and settled.
However, there are two conditions for digital currency to be essentially non-centralized.
That is strong against censorship, and not being interfered by project leaders.
If the price of the currency depends on the life and death of the project leader, it can be said that it is not centralized.
Likewise, if its speed and scalability are guaranteed by a centralized node, it can not be said that it is not centralized.
According to that definition, many of the top 20 virtual currencies do not meet the criteria.
Some currencies are keeping in mind that the developers are trying to get out of hand since the foundation is built to some extent toward "future non-centralized centralization".
However, in many currencies, the number of nodes to prevent 51% attacks or the mining power is not enough.
Described below is an assessment of non-centralized authority from the viewpoint of importance of nodes and development leaders of major virtual currencies of the world.
We introduce two indices into the evaluation, namely the non-centralized power of the ledger and the degree of dispersion of the power, and the smaller the score, the more centralized the currency is.