Home CryptoBitcoin The Most Decentralized Crypto Assets Are…

#crypto #DeFi #digital #assets

$BTCUSD $ETHUSD

“Naming the Top 5 most decentralized cryptocurrencies“–Paul Ebeling

In a new video, Coin Bureau host Guy tells his 2.05-M subscribers that Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC) and Monero (XMR) are the most decentralized cryptos.

“There are five layers of decentralization in cryptocurrency: the developer layer, the coin or token layer, the infrastructure layer, the blockchain layer and the external layer. I’ll start by saying that there’s no crypto project that scores perfectly on all five criteria but the top spot seems to belong to Bitcoin. 

This is because there are dozens of individuals and institutions building on Bitcoin. BTC supply is broadly distributed, there is no shortage of infrastructure available to interact with the Bitcoin blockchain and the Bitcoin blockchain has over 15,000 full nodes.

The only thing Bitcoin is missing is true decentralization at the external layer, but this is where every cryptocurrency fails and I suspect not everyone would agree that this even counts as a layer.

In any case, according to a survey of various crypto experts by Cointelegraph last November, there aren’t any cryptocurrencies that come close to matching Bitcoin’s overall decentralization.”

He says Ethereum, Monero, Litecoin and Dogecoin follow Bitcoin and are still lacking in some aspects of decentralization. In the case of Monero, the privacy coin also faces regulatory issues.

“Ethereum and Monero seem to be the runners-up but as I discussed earlier, Ethereum’s decentralization still seems to be lacking on some layers. As for Monero, XMR is constantly at risk of getting delisted from centralized exchanges due to unreasonable crypto regulations.

There’s also Litecoin and, to some extent, Dogecoin, to consider but we all know these cryptocurrencies are also lacking decentralization at some layers, to put it mildly.”

The analyst says that it is still too early to identify the other most decentralized cryptocurrencies, but he sees the possibility of Cardano (ADA), Polkadot (DOT) and Solana (SOL) being included in the list.

“By now, you’ll have noticed that most of the more decentralized cryptocurrencies have been around for a while and many believe that it’s ultimately time that has allowed Bitcoin to decentralize so much. What this means is that it might still be too soon to say what the most decentralized cryptocurrencies are, but I have a feeling that Cardano, Polkadot and possibly even Solana will be the next runners-up.

At this rate, it looks like we will only find out for sure when the regulators come around and given the exponential rate of crypto adoption, it’s only a matter of time before they come unlocking.”

For live crypto price action click here.

Have a prosperous weekend, Keep the Faith!

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.