Dr. Mark Richardson agreed that the that means of decentralization has shifted, and in some circumstances, it’s eroding completely.
When Bitcoin first emerged in 2008, decentralization was not simply an ideology — it was a necessity. Bitcoin was a protest towards government-controlled cash, providing an alternate monetary system that didn’t depend on banks, establishments, or centralized authorities. However in the present day, we’re seeing the identical governments that Bitcoin was meant to bypass now embracing it.
“Individuals are applauding the US authorities even speaking about establishing a Bitcoin reserve, celebrating it as if that is what we wished all alongside. However initially, the purpose was to exclude governments from the system — not invite them in.”
He goes on to say the identical sample could be seen in Ethereum. It began out as extra decentralized than Bitcoin, however in the present day, giant validators like Lido management a majority of the stake.
“Ethereum’s transition to Proof-of-Stake was speculated to additional decentralization, however now you may have two-thirds of the stake concentrated in a single entity. That’s the alternative of decentralized.”
The massive query: Are these pure rising pains, or is decentralization being quietly phased out?
