DeFi
How Decentralized Are Major Blockchains?
The decentralization characteristic of blockchain is what makes it unique among other technologies. But are the major blockchains we know really decentralized? Let's take a closer look at this.
Blockchain decentralization aims to eliminate reliance on trust among members and prevent them from corrupting the effectiveness of the network with their authority or commands. On this topic, you may have heard some discussions about the Nakamoto coefficient, formally introduced in 2017 by former Coinbase CTO Balaji Srinivasan.
Using the Nakamoto coefficient as a measure of decentralization, you can determine the minimum number of validator nodes required to disrupt the blockchain's network. The higher the Nakamoto coefficient, the more decentralized the blockchain is.
The Nakamoto coefficient is a way to quantify the decentralization of a blockchain or other decentralized system. It's the number of entities you need to compromise at least one...
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