We've successfully subverted and revolutionized the global centralization of financial control by... concentrating wealth and power... Wait...
I tend towards the theory that POS is more centralizing than POW, and the question is will it stay decentralized or end up with one address (or rather one entity) controlling 50%?
With POW a miner needs to continually provide new investments to be competitive, with new and more effective hardware and electricity.
But with POS you can just keep your coins in one place, and it will keep building up with no new investments at all (except running a node, a relatively small cost).
And in POS if someone ever reaches 50%, then it can forever hold that position, and it's essentially game over (baring a drastic hard fork).
It doesn't seem that unlikely that one big exchange will accomplish it.
Wealth transfer complete?
I assume that isn't the take away, right? Right?
What is this showing us? When I look here : https://beaconscan.com/slots I don't see these addresses in the proposer column.
Can someone explain what this means to us not in the loop?
Lido and Coinbase
funny how they just ceded true decentralization to Bitcoin & the usual detractors will miss out due to deep-seated prejudices
you may as well just use a central bank or traditional database, POW is unlike the rest and for good reason
These are just bots
Web 3 is going well
Reminds me of my favorite crypto joke: "cryptocurrency is an alternate banking system for people whose primary complaint about the 2008 financial crisis was that they weren't _in_ on it."
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This will probably get lower over the next few days but it still doesn't look very distributed compared with the existing Banking system.
It's hard to tell the difference between ETH running on infrastructure maintained by Binance, Binance, and FTX etc and USD going between JPMorgan, Citi, and Goldman.
I read a statistic that over 50% of the Ethereum Mainnet is on AWS (but can't find it now) - hopefully that isn't all in the same Virginia data centre.