6 Myths About Ethereum Decentralization

A study conducted in February 2018 by Professor Emin Gün Sirer demonstrated that Ethereum is much more distributed than Bitcoin with nodes better spread out around the world.

Cointelegraph offers you either to confirm or disprove this and five more myths about Ethereum decentralization.

Myth 1: Decentralization means distributionTo better understand what decentralization means in the Ethereum blockchain environment let's refer to the concept as described by the network's founder Vitalik Buterin.

Myth 3: The Ethereum network is protected against attacksWhat makes the network decentralized? These are three essential components that constitute the foundation of this unique characteristic.

Myth 4: The Ethereum network is resistant to attacksAttack resistance works much better in systems based on the Proof of Stake algorithm, rather than Proof of Work, which the entire Ethereum blockchain operates on.

Ethereum has a full-fledged version of smart contracts.

Myth 7: Manipulating network settings is impossibleIn late 2017, the CryptoKitties online game took more than 13 percent of all Ethereum traffic, having received the title of "Ethereum's Killer App".

It is still unknown how this will end, but if the number of breeding-type applications will grow, the decentralization of Ethereum may come under serious attack.

The numerous flaws resurfacing as the Ethereum blockchain continues to be used in different conditions, confirm that the network is not 100 percent decentralized.

"The decentralisation unicorn, does it really exist? 90 % of the mining power is owned by 16 miners in Bitcoin and 11 in Ethereum.