Ethereum Already Showing Signs of Increased Centralization

was framed by developers as a way to defeat centralization on the second-largest blockchain network by making it harder for individual entities to tamper with the Ethereum ledger. But early signs of network consolidation have raised concerns that those hopes may not come to pass.

collective, and Coinbase, the world's third-largest crypto exchange, own 27.5% and 14.5% of the network’s stake, respectively.Ethereum's long-awaited Merge to PoS was successfully completed at 6:42 UTC on Thursday morning. The new system invites so-called validators to stake 32 ETH with the platform, granting them ability to write and confirm transactions to the Ethereum ledger.

So much money going to so few services has sparked concerns: If a single entity controls more than 66% of the network’s staked ether, it will be able to make it more difficult for others to write transactions to Ethereum’s ledger. program, meaning it might be more difficult for those transactions to make it onto Ethereum’s decentralized ledger.“This is consolidation and consolidation=centralization. And that is very dangerous. Why? Because exchanges are under government control. Without question the Ethereum blockchain is now subject to ‘transaction censorship’,” Chris Terry, an executive at SmartFi, a crypto lending platform, said to CoinDesk.

coinbase Lido Are we surprised? It was centralized since it's illegal ICO and disguised whaling.

coinbase Lido 5 miners control 83% of the Bitcoin hashrate.

coinbase Lido

coinbase Lido Waow, this is coindesk? Wtf...

coinbase Lido Serious question - does know how LidoFinance works? Also... why did you drag Lido into this? All he wants to do is make music.

coinbase Lido Decentralized= shut down. Just a matter of time and it is getting closer. 💯

coinbase Lido .eth people in the comments raging right now

coinbase Lido So much for investigative and informative media reporting I guess. Let's put that on the headlines

coinbase Lido afaik lido isn't a single entity

coinbase Lido FYI: Lido is not a monolithic entity

coinbase Lido Ignorance is bliss. Specially when coming from supposedly major media in this space. Lido is composed by over 30 autonomous and independent service providers scattered all over the world. It's not a single institution. Tonights homework: before reporting actually investigate

coinbase Lido Now Ethereum is dead! All hail the king $BTC Bitcoin

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