“Crypto” has been hit by failure after failurethis year, even as recently as just last week with the implosion of FTT.
In the interest of helping you understand even better how Bitcoin differs from everything in “Crypto”, I’m considering writing a series of articles detailing the ways in which specific other cryptocurrencies are not decentralized.
It is essential to talk Bitcoin and the rest. This test consists of a number of actual real projects out of which actual decentralized projects may be very few indeed. I have always from the very start of ETH for example, said its governance model was flawed and inefficient. Now it’s flawed because of centralization of staking power. And that centralization will lead to even less decentralization so that ETH may well be just another legacy tech controlled by the top 1%.
Would love to learn more!
I am genuinely interested in the differences between BTC, ETH and all other Crypto. The more information, the better. Thank you for your work
You’re welcome and I look forward to sharing more about it with you!
It is essential to talk Bitcoin and the rest. This test consists of a number of actual real projects out of which actual decentralized projects may be very few indeed. I have always from the very start of ETH for example, said its governance model was flawed and inefficient. Now it’s flawed because of centralization of staking power. And that centralization will lead to even less decentralization so that ETH may well be just another legacy tech controlled by the top 1%.
Yes, ETH’s staking model will lead to massive centralization in more ways than one:
https://hifibitcoin.substack.com/p/the-fatal-flaw-of-proof-of-stake