Post
Topic
Board Bitcoin Discussion
Re: Bitcoin will become the most decentralized cryptocurrency?
by
teosanru
on 21/07/2021, 16:43:57 UTC
Since Bitcoin was created, the Bitcoin network has been operating normally, and neither the government nor the regulators can stop the development of Bitcoin. The reason why Bitcoin can become a valuable cryptocurrency is largely due to its anti-censorship characteristics through decentralization. Every blockchain that emerged afterwards also started with a high degree of centralization. Although its creators intend to improve this as soon as possible, unlike Bitcoin, it is difficult for most blockchains to make substantial progress in decentralization.
Bitcoin has the most nodes running in the world and there is no central authority to distribute it. Bitcoin the most decentralized cryptocurrency?
This is entirely untrue. Bitcoin infact isn't that much centralized. One reason is that due to big pools coming into picture a two to three mining companies control a lot of mining power of Bitcoin which means 51% attack which we think is impossible, isn't entirely impossible if these major pools decide to cartel. Infact some other Cryptos like Tezos and IOTA are much more decentralised as they are based on PoS with quite equitable distribution of the stakes. Pos coins are much more decentralized but yes not an optimal solution.