Ethereum is not so centralized

Many maximalist Bitcoiners express is always that can be that Ethereum is very centralized. But, the reality is a little different. Why is Ethereum (ETH) is not as central as we believe? In a recent article we stated that the inequality in Ethereum was impressive, at least in the numbers. The 10,000 main directions of Ethereum control 83% of all tokens of the second criptomoneda most important of all. These 10,000 addresses represent 0.01% of all the wallets active ETH. But, as we well know this does not mean that only 10,000 people control this huge amount, which represents more than $22 billion.

Why Ethereum is not as centralized as we believe?

Ethereum, unlike the other cryptocurrencies, has a characteristic very particular. Since ETH brought the technology of Smart Contracts. The reason why the distribution of the ETH seems to be so centralized is because of this technology. Propose as an example, is WETH where we deposited ETH to get Wrapped Ether to use any of the technology ERC20. Or CryptoKitties in its moment of glory some years ago. This use of the projects that are built on the basis of the technology of Ethereum is what makes it seem biased distribution of ETH.

What happens if we remove the Smart Contracts?

If we say, that what makes it seem biased in the amount of ETH that have some wallets. Then, we delete Contracts Smart and see how it performs the second crypto of all. What Ethereum is not as centralized as we believe? The top 10k have to 57.2 million of Ethereum or 56.7%. Down to 83%. The 1,000 main directions have 42.5 M And the top 100 26,4 million. Although it still seem an exaggeration to the centralization of Ethereum, now is more about the nature of the 1% that we see the traditional world. But, equally, we cannot say if this number shows the centralization, but compare it with cryptocurrencies similar. Does Ethereum actually is so centralized? If we take into account to Bitcoin, which is the first criptomoneda of the world. And at the same time, we eliminate the Smart Contracts, we can note that the game board changes completely, and already the maximalist Bitcoiners don’t have much to say. The 10,000 key addresses of Bitcoin have 10,54 million BTC or a 57,44% vs. 56.7% of ETH. 16 directions of Ripple (XRP) dominate most of the 55.2% of this crypto. 1100 wallets of BCH hodl 56.8 per cent.In BSV 1250 hodl 55.6 per cent.Litecoin (LTC), the number is 300 wallets have 54.3%. This is what you want to say that in fact, Ethereum is the most decentralized of the top 6 of the cryptocurrencies most important criptoverso. Why Ethereum is not as centralized as we believe? Because, in reality, is not as centralized as the others.

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