IS BITCOIN THE ONLY DECENTRALIZED CRYPTO OR ALL CRYPTOS ARE DECENTRALIZED

avatar

So much has been going through my mind based on the nature of Bitcoin and other cryptos,what happened to terra Luna during the crypto dip has made me to have a split mind about how decentralized all cryptos are.tbere have been alot of arguement and confusion about this and I am very sure that majority of people in the crypto world does not really know if all cryptos are decentralized or not.during the crypto dip so much catastrophe happened and terra Luna was the most affected cryptos platform,the price of Luna crashed and virtually all their investors lost their investment.now few day after the crash of Luna,I read a post from @chenkholor where he explained certain things about terra and cryptos in general and one of those things he said that caught my attention most was that Bitcoin is the only decentralized crypto.

image.pngsource

He went further to argue that any platform that can pause their Blockchain is not decentralized.in my own little understanding I have always thought that all cryptos are decentralized.now does it mean that every other cryptos are hiding under the guise of Bitcoin to claim decentralization.why I am so much confuse is that hive is a platform that offers transparency in every ramifications, transparency is the anchored point of decentralized which means that in a decentralized platform everyone has control over what they do on the platform and at the same time and it's not been controlled by a single or group of entities.

So at this point I think I need more insight if Bitcoin is the only decentralized coin or all cryptos are decentralized.what are your insight on this,feel free to hit me on the comment section as no knowledge is wasted.



0
0
0.000
9 comments
avatar

Some cryptos are decentralized, but many are not. Many of them pretend to be decentralized, but are not.

Posted using Neoxian City

0
0
0.000
avatar

Wauuu,thank you for this,now I understand not all cryptos are decentralized

0
0
0.000
avatar

Ethereum is now decentralized, Decentralization is path! its is not 0-1 the important thing is we are on the path

0
0
0.000
avatar

Yeah exactly,glad to know that Ethereum is now decentralized,I really love that

0
0
0.000
avatar

i think even Hive is not truly decentralize.

0
0
0.000
avatar

Really,someone once said but I am still yet to believe it

0
0
0.000
avatar

Congratulations @brainstommer! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You received more than 7000 upvotes.
Your next target is to reach 8000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

0
0
0.000