Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Ethereum: Welcome to the Beginning
by
ivomm
on 26/07/2021, 15:28:11 UTC
The number of validators in the Ethereum 2.0 network has exceeded 200,215 currently the betting platform contains 6,406,811 ethereum, or more than $15 billion in value.
The number of validators on ETH network is bigger than what Binance Smart Chain has. Binance Smart Chain is centralized by Binance but Ethereum network is more decentralized. Your screenshot and given stats on that page demonstrate that ETH network is actually decentralized.

If I choose one between Ethereum and Binance Smart Chain, I would choose Ethereum. It has longer history and better decentralization. Transaction fee is not the only thing to consider and assess one project.

I wouldn't say that Ethereum is fully decentralized. Only partially perhaps. There is this developer team who decides what to do with the bloockchaing without asking the users, including reversing transactions in case they don't like something. This is what happened in 2016, after the DAO accident. Since then the project has been compromised and nobody can state that it is truly decentralized. Now we see a switch from POW, which was the only decentralized element to a POS, which is like the fiat money. So with time instead of going more decentralized, ethereum is going less decentralized. It is like a fiat money blockchain, which allows ponzis to be made on top of it, like DAO, Icos, Defi, etc. So everyone investing in ethereum must know, that they are trusting their money to a team that makes all decisions on their own and may split and abandon the project at anytime. One of the inventors has already left the project.  So it is not about bitcoin maximalism as Vitalik is trying to defend his project. This is the truth -  that the only fully decentralized blockchain is bitcoin. There is the Core's team of course, who is changing with time but they always ask the community for each important change. The users and miners vote and then the change is implemented. And we are talking for small techical soft forks like segwit and tarpoot, which are expanding the decentralization.