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Board Beginners & Help
Re: Are some cryptos decentralized while some are not?
by
libert19
on 03/09/2023, 01:09:22 UTC
At one end of the spectrum, we have cryptocurrencies like Bitcoin and Ethereum, which are known for their high degree of decentralization.
You probably haven't heard about the roll back of Ethereum transaction to save the ass of a DAO from a hack although Vitalik Buterin doesn't agree that it was a roll back; they intervened. Whatever it was, it was centralization.
Is this what you call decentralization? LOL.
https://bitcoinist.com/ethereum-network-not-rolled-back-after-dao-hack/

Wow! I wasn't aware of this happening despite being active in ethereum ecosystem since long, so this is the reason why Ethereum is hated here.

For those interested in detailed story: https://www.coindesk.com/consensus-magazine/2023/05/09/coindesk-turns-10-how-the-dao-hack-changed-ethereum-and-crypto/