Daniel Larimer on decentralization of Ethereum and Bitcoin
Those familiar with EOS and Daniel Larimer’s views on the blockchain governance know well that he’s in stark contrast with Ethereum and Bitcoin maximalists when it comes to decentralization. While the two communities firmly argue that their blockchains are the most decentralized and censorship resistant, Larimer comes to Twitter to prove them wrong without even arguing with anyone. He surely knows how to use the power of non violent communication.
How many people would you have to hold hostage to censor all transactions on your “decentralized” chain? How long would it take to recover?— Daniel Larimer (@bytemaster7) March 28, 2019
Then he posts another Tweet probably to better reflect what he was meant to say…
Here are some stats regarding Bitcoin and Ethereum hashrate distribution compared to the EOS Block Producers stake.
EOS 21 Block Producers have quite a uniform stake power. This stake power comes from the token holders who stake their tokens and vote for BPs. There’s continuous voting which means that BPs may change places or being voted in or out at any moment in time. There’s no fixed set of BPs.
Daniel Larimer argues that Bitcoin and Ethereum are centralized because the top three miners in Bitcoin and top 4 miners in Ethereum control more than 50% of the overall hashrate.
Bitcoin nodes are largely concentrated in big data centers which increases the risk of their corporatization. This is why taking in “hostage” those responsible for these data centers would be easier than attacking 21 EOS BPs which change in continuation.
Emin Gun Sirer agrees with Dan and states that “existing coins exhibit decentralization theater”.
Weiss Rating has put EOS in the first place of its rating and highlighted the unbiased criteria behind them.
But other than decentralization, Dan hints also at the “group decision making and liability in these trolly car experiments” as well as at “the morality of emergent behavior of blockchain systems”.
What could that mean?
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