Crypto-world is indeed flooded with centralized altcoins, isnt it? These newbies, clamoring for exchange stardom, ironically stray from crypto's original intent. Bitcoin, our founding father, aimed to bypass financial middlemen. But it seems that fresh coins care more about market monopoly and profits than preserving Satoshi's dream.
Even Ethereum's switch to Proof of Stake (PoS) has drawn flak, with fears that raising the staking minimum from 32 to 2048 ETH will concentrate power. The ascent of Centralized Exchanges (CEXs) over Decentralized Exchanges (DEXs) stirs debate. Yet, I contest its a sign of cryptos demise. Remember, Bitcoin, the decentralization lighthouse, still rules. Its soaring value could usher in more decentralized offshoots.
Even Ethereum's switch to Proof of Stake (PoS) has drawn flak, with fears that raising the staking minimum from 32 to 2048 ETH will concentrate power. The ascent of Centralized Exchanges (CEXs) over Decentralized Exchanges (DEXs) stirs debate. Yet, I contest its a sign of cryptos demise. Remember, Bitcoin, the decentralization lighthouse, still rules. Its soaring value could usher in more decentralized offshoots.
Exactly. Everything is heading off course. Crypto is slowly being taken to the hands of "Wall Street" players. Expect CEXs to become bigger and stronger than ever before. With centralization at stake, governments can do anything they want to control crypto use around the world. They can simply target CEXs and manipulate them for their own benefit. DEXs, and the other hand, are much difficult (or almost impossible) to control, rendering governments' efforts useless. However, these exchanges represent a small market share compared to their centralized counterparts.
You can still use crypto with a DEX even with government restrictions in place, but you won't get the same convenience as a CEX. I'm afraid the industry will move away from Satoshi's original vision in the long run. At least, not all hope is lost. As long as there's one decentralized cryptocurrency (mainly BTC), we should have nothing to worry about. Just my thoughts
