Post
Topic
Board Altcoin Discussion
Re: Is Chia Really Decentralized or just a Myth?
by
Tytanowy Janusz
on 16/10/2021, 15:25:49 UTC
As noted in Business Whitepaper, they started mainnet with 21 million XCH pre-farmed

Oh ... this changes everything. Looks like even after 7 years they will still have majority of coins. Looks like they somehow came up to conclusion that it is fair to reward team with coins that whole network needs 7 years to mine. RIP investors. But still its only a native token distribution. Whole chain is backed by proof of storage not proof of stake.

Satoshi - we don't know who he is or was - corporate, person, group of persons, etc
Chia - we know who stays under, fully corporate coin

It does not matter for decentralization if someone who hold majority of coins is anonymous or not.