Saturday, October 15, 2022

Wasn't Ethereum Supposed to be a symbol of decentralization?


Ethereum has seen a paradigm shift in the way it executes transaction and has achieved a phenomenal 99.9% decrease in power consumption. However the heavy reliance on validators has become a sign that a large portion of the ETH securing the network sits with centralized entities.Wasn't Ethereum supposed to be a symbol of decentralization? A large size of Ethereum staking is currently at centralized entitites like Binance, Kraken, Coinbase and Lido Finance which means means these centralized entities have a much higher likelihood of being assigned blocks of transactions to add to the chain—and may end up having an outsized say-so in what is and isn’t allowed on the network.https://twitter.com/TheCoinArth/status/1581361788234264577?t=cNhVcVQW48S01Y9hgwdAQA&s=19 via /r/CoinArth https://ift.tt/OphZqKL

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