This article would make more sense if crypto currencies were actually decentralized... that ship sailed maybe five years ago? Today, only a handful of corporations control the majority of the proof-of-work hashrate [0]. What’s more, development teams represent another centralized group (ie. you can count the devs that contribute to consensus code on 2 hands if you’re generous).
So my question is: in what way are crypto-currencies not already in the state the article is warning about? If I capture the lead commiter to your chain as well as the lead miner, don’t I effectively own the chain?
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This article would make more sense if crypto currencies were actually decentralized... that ship sailed maybe five years ago? Today, only a handful of corporations control the majority of the proof-of-work hashrate [0]. What’s more, development teams represent another centralized group (ie. you can count the devs that contribute to consensus code on 2 hands if you’re generous).
So my question is: in what way are crypto-currencies not already in the state the article is warning about? If I capture the lead commiter to your chain as well as the lead miner, don’t I effectively own the chain?
[0] “Both Bitcoin and Ethereum mining are very centralized, with the top four miners in Bitcoin and the top three miners in Ethereum controlling more than 50% of the hash rate.” http://hackingdistributed.com/2018/01/15/decentralization-bi...