RIP Satoshi’s vision—report finds only 16% of cryptocurrencies are decentralized



bitcoin 796x448 - RIP Satoshi’s vision—report finds only 16% of cryptocurrencies are decentralized
An overwhelming majority of cryptocurrency and blockchain projects (cryptoassets) on the market today are centralized in one way or another. Even more startling, 85 percent of development teams have the authority to alter their cryptoassets’ protocol at their own discretion. These are just some of the findings presented by blockchain and cryptocurrency research unit CryptoCompare, in its yearly taxonomy of the cryptocurrency sector. The study analyzed hundreds of cryptoassets with the intention of classifying cryptocurrency projects and blockchain platforms. Among other things, the report acts as a “decentralization thermometer” for the cryptocurrency market. It has indiciated a growing trend towards centralization,…

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