What cryptocurrencies can't be trusted? A list of the most centralized coin

Date:

2018-12-14 13:30:11

Views:

4849

Rating:

1Like 0Dislike

Share:

What cryptocurrencies can't be trusted? A list of the most centralized coin Source:

Decentralization was one of the most important reasons for which you should use blockchain. However, even the most well-known projects in the industry of crypto currency is centralized. So says the Creator of Dogecoin Jackson Palmer, who recently started work on their new service.

Users can look at the degree of decentralization of individual coins in the industry. As it turned out, among the thousands of cryptocurrencies a few can be considered truly independent and decentralized.

the

When will full decentralization?

To answer this question, Palmer decided to evaluate five indicators of each project:

the
    the
  • a number of organizations, which together control more than 50 percent Hasrat;
  • the
  • percentage of the total number of coins at the largest hundred wallets;
  • the
  • the number of clients that work with cryptocurrency Protocol;
  • the
  • the number of public node.
  • the
  • incentives for miners or the owners of the node.

The Founder of Dogecoin demonstrated why investing in the well-known projects are not always safe. For example , Stellar (XLM), IOTA, NEM and Nano are very centralized startups. According to Palmer, they are unlikely to survive in the long term, as the government can easily destroy them (if really needed).

Source: arewedecentralizedyet

The Irony is that the Dogecoin can be much more sustainable than Stellar. At this point in cryptocurrency network nodes 122 operate on four types of clients (Shibetoshi, Block.io Node and BitcoinJ). With the Cardano case is very bad — the project has only one public node.

But worst of all on the issue of decentralization proved to NEO. Only one organization decides the fate of the blockchain, and 70 percent of all tokens placed among the top 100 wallets.

All of this leads to some reflections. Such projects should of already existing initiatives in the traditional financial system? She is also fully centralized. In any case, the industry is at an early stage of development, so in the future we will find a lot of interesting changes.

Recommended

CRYPTOMACH / Maximum exchange rate of Bitcoin in the future, the output of the crypts on the map, Ycash and the Board of Finance

CRYPTOMACH / Maximum exchange rate of Bitcoin in the future, the output of the crypts on the map, Ycash and the Board of Finance

the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...

Comments (0)

This article has no comment, be the first!

Add comment

Related News

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...

Hacker 1337. How to hack Etherscan not to cause any harm

Hacker 1337. How to hack Etherscan not to cause any harm

Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...

Players get ready: Razer will help you mine cryptocurrencies at home. But does it make sense?

Players get ready: Razer will help you mine cryptocurrencies at home. But does it make sense?

a multi-billion dollar gaming equipment manufacturer Razer has released a new program through which gamers will be able to use their unused cards for mainiga cryptocurrency. The main trick here is that in fact gamers will not be a...

Everything on the bottom: Bitcoin falls again to its annual low

Everything on the bottom: Bitcoin falls again to its annual low

the Week will soon come to an end, and Bitcoin was never able to break through the resistance area of $ 3475. After a bad test line, the cryptocurrency fell below, now it is on track to support at the level of the annual minimum. ...

Hackers hunt for owners of the Ethereum wallets. How not to lose all the cryptocurrency?

Hackers hunt for owners of the Ethereum wallets. How not to lose all the cryptocurrency?

you still get to mine crypto-currency a plus? Be careful, because hackers never sleep. According to Bitcoinist, fraudsters launched a full-scale campaign to search for and hacking vulnerable Ethereum wallets and even farms for min...

As mine Zcoin? Settings production on Windows and HiveOS, hardware requirements and the effectiveness of different graphics cards

As mine Zcoin? Settings production on Windows and HiveOS, hardware requirements and the effectiveness of different graphics cards

on Monday 10 December hardwork Zcoin. The main difference between the updated network was the algorithm of mining. The developers refused Lyra2z and turned on the Merkle Tree Proof, is also known as MTP. The main purpose of the up...

Google reported on popular queries for 2018. Bitcoin hit the top

Google reported on popular queries for 2018. Bitcoin hit the top

Google has published its annual report on searches for 2018. According to Google Trends, after 2017 search by term «Bitcoin» quickly came to naught, however, most of the requests were associated with the first crypto cur...

Bitcoin will absorb all Fiat will increase to 100 thousand. Interview with max Kaiser

Bitcoin will absorb all Fiat will increase to 100 thousand. Interview with max Kaiser

Edition of Bitcoinist once again contacted the one and only , a veteran of wall street and leading program the Keiser Report. He explains why not upset from-for falling of Bitcoin prices, why not pay attention to the ICO, and how ...

What will happen to Bitcoin? Popular predictions for the end of 2018 more irrelevant

What will happen to Bitcoin? Popular predictions for the end of 2018 more irrelevant

Many capturadora and enthusiasts hoped that by the end of 2018 Bitcoin and other popular crypto currencies will increase in value, and then get a big way to celebrate the winter holidays. Throughout the year, we watched as analyst...

Mike Novogratz: bullrun is a drug, that we got rid of

Mike Novogratz: bullrun is a drug, that we got rid of

Recently, one of the main supporters of the cryptocurrency on wall street Mike Novogratz gave an interesting interview to Bloomberg in which he compared the current state of the stock market «methadone therapy». He also ...

Acne Buterin: PoS and sharding will increase the efficiency of the blockchain thousands of times

Acne Buterin: PoS and sharding will increase the efficiency of the blockchain thousands of times

acne Buterin again decided to give quite a long lecture in his Twitter. The main developer of Ethereum explained why blackany based on PoS and sharding will become the basis for the future of the industry. According to him, these ...

S11 Antminer from Bitmain is available for order worldwide. Profitability and return on investment models

S11 Antminer from Bitmain is available for order worldwide. Profitability and return on investment models

In early November, the company two asika S15 and T15, which run on 7-nanometer chips. Now Bitmain has prepared for customers a new surprise — Antminer S11 with an even more economical use of electricity. Like the previous two devi...

Following the cryptocurrency bullrun is only a matter of time. Review investor

Following the cryptocurrency bullrun is only a matter of time. Review investor

a Specialist in real estate and cryptocurrency investor Eric Dalius talked to the representatives of the Bullion Tech. He noted that Bitcoin has very big power, even despite all the skepticism and fall courses. In his opinion, the...

The Winklevoss twins launch the app for cryptotrading and go on a little vacation

The Winklevoss twins launch the app for cryptotrading and go on a little vacation

According to an official blog post, the founders of the cryptocurrency trading platform Gemini Tyler and Cameron Winklevoss have launched a mobile app for cryptotrading. The new platform allows you to buy and sell the crypt, but a...

Fall is too early: the Ripple may grow before the end of the week

Fall is too early: the Ripple may grow before the end of the week

the Price of Ripple is still under strong bearish pressure. Now the cryptocurrency is teetering on critical support level, a dip below could be the trigger for a pretty strong drain coins. To keep the prospects on growth, XRP shou...

New data. How many millions have gone to war after hasraton hard forks of Bitcoin Cash?

New data. How many millions have gone to war after hasraton hard forks of Bitcoin Cash?

it Seems that the war of Harrachov , indicators come to normal. However, mining in two competing chains after a painful November turned out for each party a loss of $ 3 million. And that's just in the form of electricity bills. Bi...

Harvard economist: Bitcoin is nothing like a lottery ticket for $ 100

Harvard economist: Bitcoin is nothing like a lottery ticket for $ 100

Former IMF chief economist and now a Professor of Economics and public policy at Harvard University believes that at the moment, Bitcoin and other cryptocurrencies are no better than lottery tickets. However, although some people ...

Iron top: 5 best Asimov for mining Bitcoin

Iron top: 5 best Asimov for mining Bitcoin

In 2018 the leading manufacturers of the market announced quite a few new devices, part of which is characterized by reduced power consumption. However, the drop in prices made most of Asimov usual . In the game there are only fiv...

The hatred continues: Nouriel Roubini responded to the fall of Bitcoin and cryptocurrency market

The hatred continues: Nouriel Roubini responded to the fall of Bitcoin and cryptocurrency market

Nouriel Roubini really cryptocurrencies. Most of this year, the economist named «Doctor Doom» did not miss a single opportunity to make a sudden attack against Bitcoin. However, the cryptocurrency managed to grow more th...

Expert: the probability of approving an ETF for Bitcoin is not above 10 percent

Expert: the probability of approving an ETF for Bitcoin is not above 10 percent

last week, cryptocommunist shocked one more negative news — the Commission on securities and stock exchanges of the USA once again request to create the first cryptocurrency from VanEck and SolidX. Commenting on the incident, the ...