This Ethereum Metric Has Sparked Centralization Concerns Over ETH Ownership
Crypto blockchains are designed to be fully decentralized so that no single person or group has control. However, new data has shown that the top 10 Ethereum addresses control over 35% of the total ETH supply. For a network that was designed to be decentralized, this has sparked some serious concerns over how centralized ETH has become. The 10 Largest Ethereum Addresses Hold Over 35% Of The Available Supply While sharing the metric on social media platform X, crypto market intelligence platform Santiment showed how holdings of the 10 largest Ethereum addresses have now climbed to 35% of....
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In the rapidly evolving world of cryptocurrencies, Toncoin (TON) has recently emerged as a focal point of discussion due to its notable price surge of over 8% within the past week. This increase has ignited renewed interest in cryptocurrency and sparked inquiries regarding the coin’s potential for sustained growth in the foreseeable future. At the time of writing, Toncoin (TON) boasts an impressive price of $1.46, securing its position as the 14th largest cryptocurrency by market capitalization, around $5 billion USD. Related Reading: This Ethereum Metric Has Sparked Centralization....
A majority of 4,653 active Ethereum nodes are being run through centralized web providers like Amazon Web Services, which experts believe could become a central point of failure. Ethereum is a few weeks away from officially moving to a proof-of-stake (PoS) mining consensus from its current proof-of-work (PoW) one. The transition officially dubbed the Merge is slated for Sept. 15, but in the run-up to the major upgrade, Ethereum node centralization has become a hot topic.As Cointelegraph reported last week, the majority of 4,653 active Ethereum nodes are being run through centralized web....
Kadan Stadelmann, the Chief Technology Officer (CTO) of Komodo, an open-source technology workshop, has raised concerns about the increasing centralization of the world’s largest cryptocurrency, Bitcoin. Stadelmann asserts that the rising centralization poses a threat to the fundamental principle of BTC as a decentralized digital currency. Centralization Poses Existential Threat To Bitcoin According to Stadelmann, a […]
Ethereum (ETH), a forerunner in the decentralized finance (DeFi) ecosystem, has seen a notable surge in its staking activities. This staking boom has raised eyebrows among experts from JPMorgan concerned over ETH’s increase in centralization and the consequences that may arise. Ethereum, aiming to transition to a proof-of-stake consensus mechanism, opened the floodgates for staking. This meant holders could ‘stake’ or lock their tokens to support network operations like block validation. However, while this promises rewards for the stakers, JPMorgan analysts have reported....