0

By looking at the bitcoin and ethereum mining pool hashrate distribution I feel that only 5-10 relevant full nodes exist. So it's more like a federated system among those.

Am I seeing something wrong here?

enter image description here

enter image description here

Improve this question
1

Yes Bitcoin and Ethereum are still decentralized. What happened is it got to risky to mine solo so miners banded together to have a better chance of getting blocks. I suppose you could say that Bitcoin or Ethereum could be federated but the fact that these pools are competing against each other destroys that idea. Federated means (with reference to a number of states or organizations) form or be formed into a single centralized unit, within which each state or organization keeps some internal autonomy.* According to the definition of federated I would rather say that each mining pool is a federation of miners in itself. But with all these different federations involved it is still decentralized system because not one of these federations control more than 50% of the hashrate.

*Definition from Google Dictionary

Improve this answer

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.