Are Bitcoin and Ethereum As Decentralized As It Seems?

While discussing the blockchain movement that started in Bitcoin, we generally suggest the lack of centers of these systems as a compliment.. We also add arguments that if something is not controlled from a single center, it will be more beneficial for society.. So much so that the main debate around Ripple is actually this.. While people state that Ripple should not be trusted, they always come together around one common argument, which is that Ripple is produced by a company and has a “centre”.

However, research on the subject reveals an interesting truth. took it out. In the study, which will be published and discussed in the Crypto Currency panel in Curaçao next month, attention was drawn to the monopoly in Bitcoin and Ethereum mining, while the note was made that these two currencies, which boast of decentralization, are “not that decentralized”.

In the study published under the name of “Decentralization in Bitcoin and Ethereum” and containing the data between 2015-2017, it was stated that there is a widespread monopoly especially in the mining field.

So that , 4 companies that have a say in Bitcoin mining have the full 50% of the total Bitcoin mining share, while 3 leading Ethereum mining companies still hold 50% of the share.
In total, the situation is even more interesting.. Almost all of the coins that can be mined can only be mined by 20mining companies.

When we compare Bitcoin and Ethereum, we can see that monopoly is more in Bitcoin.. While 56% of registered centers that mine Bitcoin are data companies, this rate stands out as 28% in Ethereum. In addition, while these Ethereum mining centers are spread in different parts of the world, this volume of spread is not as wide in Bitcoin. can go. After the serious decline on January 17, many people stated on social media that this was the work of Whales.

The fact that 50% of the total amount of Bitcoin in the world is in the hands of a thousand people is among the factors that strengthen this claim. .

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