- This topic has 1 reply, 2 voices, and was last updated 2 months, 1 week ago by Perleflamme.
- Sunday, July 24th, 2022 at 11:30 #344107Wild-Hurry9904Participant
When people criticize ETH not being decentralized, what are they referring to? And what’s the counterargument that it is in fact decentralized?Sunday, July 24th, 2022 at 11:31 #344108Perleflamme
They’re referring to debunked arguments: notably, the fact it’s supposedly becoming PoS and the rich gets richer and the fact its token is supposedly less distributed because of a premine.
In practice, decentralization doesn’t need any assumption about token distribution in the first place. Even then, the premine could be bought by anyone except US citizens. And even after the premine, literally anyone could buy tokens for dirt cheap.
And the rich getting richer is completely false: richer always is relative. What’s important is that the rich doesn’t get proportionately richer than the poor, which PoS doesn’t incredibly better than PoW. But PoW maxis can’t accept to recognize that PoW is a rich-gets-proportionately-richer-than-the-poor scheme.
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