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Are we decentralized yet? – says Brian Armstrong, CEO of Coinbase

Kajal Bangera

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Are we decentralized yet - says Brian Armstrong, CEO of Coinbase
Source: Pixabay

Brian Armstrong, the CEO and Co-founder of Coinbase, one of the leading cryptocurrency exchange platforms headquartered in San Francisco recently posted a link on Twitter which says ‘Are we decentralized yet?’

The link redirects to a page which has enlisted all the top coins and shows the status of which ones are decentralized and which ones are centralized.

According to the link, 6 coins out of the 15 coins are centralized. The centralized coins are:

  1. Ripple  – 97% of the circulating supply of XRP is held by the top 100 accounts
  2. Cardano – 33% centralized of the circulating supply of ADA is held by top 100 accounts
  3. Stellar – 95% centralized of the circulating supply of XLM is held by top 100 accounts
  4. IOTA – 62% centralized of the circulating supply of MIOTA is held by top 100 accounts
  5. NEO – 70% centralized of the circulating supply of NEO is held by top 100 accounts
  6. Nano – 63% centralized of the circulating supply of NANO is held by top 100 accounts

On the website, under the miners/ voters incentivized, Y represents decentralized and N represents centralized.

Are we centralised yet showing the coins which are decentralised and coins which aren't.

Are we decentralized yet? The chart shows the coins which are decentralized and coins which aren’t

The claims made by the website has stirred a lot of controversy in the market. With Ripple enthusiasts saying that the data is wrong and is an attack on the coin and other crypto-enthusiasts saying that according to the data represented Bitcoin [BTC] is more centralized than all the coins.

BFL Vigilante, a Twitterati says:

“For the deluded Ripple [XRP] zealots and other brainwashed, this ranking should help put to rest their confusion and “decentralized” nonsense.”

To which Andrew French adds:

“Rubbish article XRP is decentralised and anyone who says it isn’t either can’t read, doesn’t want to learn the truth, or is just out to talk rubbish about something they know nothing about Ripple”

F.U Money, another Twitterati says:

“97% of XRP is not owed by the top 100 accounts and under the %voting/mining power you linked to the Bitmex blog on Ripple which Joel Katz debunked and made BitMexResearch look like fools. This is a completely biased table of information meant to spread your agenda.”

Ryan Hurley, a Bitcoin enthusiast says:

“Does the 19% shown for the Top 100 in BTC account for Satoshi’s holdings? If I’m not mistaken Satoshi is thought to have over 1mm in holdings. So at 17mm BTC, you have 3.23mm (19%) in top 100 but only 2.23mm w/o Satoshi or 13%.”

To which Jackson Palmer says:

“It includes *all* possible addresses.”

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Kajal Bangera is a part of the Editorial team from March 2018 at AMBCrypto. With a background in Journalism, she has been writing and researching about Blockchain technology and cryptocurrencies for a year. She has not held any value in Bitcoin or other currencies.

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2 Comments

2 Comments

  1. Ann Palmer

    April 28, 2018 at 6:22 AM

    This coming from an insider trader! Horrible Ceo

  2. buzzard

    April 29, 2018 at 6:39 PM

    Centralization squeals at the slightest touch.

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Bitcoin

Deutsche Boerse adopts Bitcoin [BTC] even with the volatile market

Arjun B

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Jeffrey Tessler of Deutsche Boerse adopts Bitcoin even after the volatile market
Source: Pixnio

The Chief Executive Officer of Clearstream and a member of the Executive Board of Deutsche Boerse, Jeffrey Tessler contemplates on offering cryptocurrency products. The executive board member of the German company which provides services for derivative markets and equity trading, in an event on Wednesday, talked about adopting cryptocurrency.

Currently, there are a lot of financial institutions taking a dip into cryptocurrency and blockchain technology, with benefits like cheaper trade fees and peer to peer network. This is due to the total and obsolete emergence of Bitcoin in people’s lives and economic trades companies are adopting the technology.

According to the market report the company has been battling with other derivative companies such as Cboe Global Markets Inc. and CME Group Inc. He believes that there have not been much of regulatory effects from the regional authorities as the market is nascent.

The event was held in London which was organized by the Association for Financial Markets in Europe.

Jeffrey Tessler during the event says:

“Before we move towards the Bitcoin market, we want to make sure we understand the underlying transaction which isn’t the easiest thing to do.”

He also said that the company is working with the cryptocurrency.

Later in the event, he added that:

“We want to understand the volatility and make sure clients are in line and make sure regulators are in line.”

Garisson a Redittor says:

“Crank up and cramped up banks are the way to be behind the crypto-game. The involvement of institutions is a bad sign as more regulatory standards will be I posed…making it further non-decentralized.”

Sara a Redittor says:

“I believe that derivative and equities are dropping into the cryptocurrency and blockchain game because of the emergence of this new industry. Goldman has to lead the way for the stock market to follow now everyone is gonna adopt the new technology of crypto. I believe that the ones who  reject to evolve will have a major market collapse.”

Wesley Willam Cryptocurrency enthusiast tweeted:

“Bitcoin is gonna pop like a big bubble as it is observed that the market is not volatile and is falling at the steep rate. There is hope for blockchain but no Bitcoin. Maybe altcoins have a future.”

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Altcoins

First Dutch company to accept Bitcoin [BTC] and Neo [NEO] – ProSeo

Sarah Rodrigues

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Proseo goes "Pro" crypto- the first Dutch company to accept Bitcoin and Neo.
Source: Wikimedia Commons

In the world where Search goes Digital, ProSeo is a search engine optimization agency which specializes in search engine marketing. It is a Dutch company based in Ireland and is an SEO specialist since 1999.

ProSeo and Web design are the top ranking SEO Companies who provide SEO services in Ireland. The Search Engine Optimization Company is also partnered with Google and is ranked 1st in Google as “Seo Company”, “Seo Agency” and “Seo Services”.

Proseo's tweet. Image Source: Twitter.

Proseo’s tweet.

The company provides professional and presentable services with their experienced Irish Consultants who are aware of their Irish Market. It has a close team of specialists with extensive experience and talents.

The company has gained the title of being the 1st SEO Company to accept cryptocurrency as their payment method. They accept the cryptocurrencies Bitcoin [BTC] and Neo [NEO] for now. However, they are currently investigating whether the company can make payments with other cryptocurrencies as well.

Since ProSeo keeps a close watch of new technological developments in the world, it’s logical for them to apply to the world of digital payment of transactions.

SeaOfDeadFaces, a Reddit user commented:

“My first thought as well. I can imagine that only being able to charge people in increments of NEO means customers are either getting a great deal or shafted, depending on how the company rounds.”

stuartwitherspoon said:

“That’s great but wouldn’t GAS be the better option? I don’t see how this is practical with neo being non-divisible.”

l4ur1ds said:

“I’d love to accept GAS in my neo merch store. Does anybody know how I could accomplish that? The major payment gateways only accept BTC or ETH.”

They reported that Bitcoin and Neo are extremely safe and reliable. They believe that Bitcoin is an investment opportunity in view of the fact of its rapidly increasing value. It is unfortunate that there is a finite number of companies in the Netherlands who accepts cryptocurrency as a form of payment.

Proseo offers a simple method of transaction. The amount of payment by the customer is calculated on the basis of the rate of the largest exchange. Once they complete this, Proseo’s wallet address is sent to the customer to make the payment. The company does not calculate an exchange fee for such transactions.

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