Topic: "Study" Shows Ethereum is More Decentralized Than Bitcoin (Read 283 times)
I agree with this because ethereum platform is always being used in those ICO projects which are coming from different countries around the world. So definitely ethereum is more decentralized than bitcoin since it has a lot of trading pairs compared to bitcoin.
So what does decentralized really mean? If we are going to base on google dictionary decentralize is a move departments of (a large organization) away from a single administrative center to other locations, usually granting them some degree of autonomy. This means that a digital currency has its own autonomy and its own rules and policy specifically in the market price movement. Both ethereum and bitcoin are decentralize but I could not agree that only ethereum is more decentralized than bitcoin. Reminders that bitcoin has larger and wider scope of its investors around the world and you can observe that by seeing its current market price and its marketcap volume. So relatively bitcoin has higher decentralized system than ethereum.
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At the Genesis London blockchain conference held in February by Binary District, Cornell professor, cryptocurrency expert, and computer scientist Emin Gün Sirer said in an interview that a study done by prestigious university Cornell has shown the Ethereum blockchain network is currently more decentralized than bitcoin.
Ever since the debut of Ethereum in 2015, false information about the technology and the foundation of the Ethereum blockchain network have circulated around cryptocurrency communities, leading some investors, users, and developers to believe the Ethereum network is inferior to other major blockchains in terms of security and decentralization, given its flexibility and ability to handle large-scale decentralized applications.
A study done by Cornell professor Sirer and researchers at the institution has shown that less Ethereum nodes are linked to institutions or organizations than bitcoin, which means that more nodes on the Ethereum network are operated by individuals rather than companies.
“The data shows that the [Ethereum] nodes are both in the latency space, and also geographically more distributed round the world. Ethereum nodes tend to come from all sorts of places, smaller networks, and homegrown entities, as opposed to Bitcoin nodes, which tend to be located in data centres. Our study found that the majority of Bitcoin nodes, 56%, are in data centres,” said Sirer.
Ethereum is structurally and fundamentally different to bitcoin because its network is optimized to handle decentralized applications (dapps). The Ethereum network should be able to process thousands of transactions per second in the long-term to support dapps in the size of Facebook or Twitter, as Coinbase co-founder Fred Ehrsam previously noted.
In an interview with South Korea’s biggest mainstream media outlet JoongAng, Ethereum founder Vitalik Buterin emphasized that full scalability of Ethereum could take 3 to 5 years, depending on the implementation process of innovative scaling solutions like Plasma and Sharding.
Sharding significantly optimizes the process of mining through the proof-of-work (PoW) consensus algorithm by eliminating competition amongst miners. Instead of miners spending computing power to win individual blocks, miners can cooperate to solve mathematical problems so that computing power is not lost.
Plasma is a highly anticipated solution that is currently being developed by the open-source community of Ethereum developers that can allow various blockchains within the Ethereum network to handle different tasks, to reduce the burden on the main Ethereum blockchain.
At the conference, Sirer also noted that hardware-based technologies such as Intel SGX can help public blockchains like bitcoin and Ethereum to settle thousands of transactions per second. SGX is existent on all Intel devices such as laptops, and with it, users can send zero-confirmation transactions in a peer-to-peer manner, without straining the main blockchain. Sirer explained:
“SGX is a very exciting technology, and there are other trusted computing technologies, not SGX, but by other vendors, that provide similar guarantees. What that gives you is the ability to know what protocol somebody else is following. That is a fundamental leap.”
In the long-term Sirer said that a rapidly increasing number of institutions, conglomerates, retailers, and companies in general will shift towards the blockchain, moving away from centralized databases. But, because problems surrounding blockchains are very technical, Sirer echoed the viewpoint of Buterin in saying that it could take many years of development and significant resources to properly commercialize blockchain technology.
“Blockchains actually constitute an enormous opportunity to rethink the way we build backend systems. Instead of building things in the old fashioned way, with centralised databases that talk to each other, that need to be reconciled, that need to be kept in sync, we can actually now build much more efficient distributed databases that share information naturally, in a seamless manner,” Sirer added.
https://www.ccn.com/genesis-london-conference-study-shows-ethereum-is-more-decentralized-than-bitcoin/
Ever since the debut of Ethereum in 2015, false information about the technology and the foundation of the Ethereum blockchain network have circulated around cryptocurrency communities, leading some investors, users, and developers to believe the Ethereum network is inferior to other major blockchains in terms of security and decentralization, given its flexibility and ability to handle large-scale decentralized applications.
A study done by Cornell professor Sirer and researchers at the institution has shown that less Ethereum nodes are linked to institutions or organizations than bitcoin, which means that more nodes on the Ethereum network are operated by individuals rather than companies.
“The data shows that the [Ethereum] nodes are both in the latency space, and also geographically more distributed round the world. Ethereum nodes tend to come from all sorts of places, smaller networks, and homegrown entities, as opposed to Bitcoin nodes, which tend to be located in data centres. Our study found that the majority of Bitcoin nodes, 56%, are in data centres,” said Sirer.
Ethereum is structurally and fundamentally different to bitcoin because its network is optimized to handle decentralized applications (dapps). The Ethereum network should be able to process thousands of transactions per second in the long-term to support dapps in the size of Facebook or Twitter, as Coinbase co-founder Fred Ehrsam previously noted.
In an interview with South Korea’s biggest mainstream media outlet JoongAng, Ethereum founder Vitalik Buterin emphasized that full scalability of Ethereum could take 3 to 5 years, depending on the implementation process of innovative scaling solutions like Plasma and Sharding.
Sharding significantly optimizes the process of mining through the proof-of-work (PoW) consensus algorithm by eliminating competition amongst miners. Instead of miners spending computing power to win individual blocks, miners can cooperate to solve mathematical problems so that computing power is not lost.
Plasma is a highly anticipated solution that is currently being developed by the open-source community of Ethereum developers that can allow various blockchains within the Ethereum network to handle different tasks, to reduce the burden on the main Ethereum blockchain.
At the conference, Sirer also noted that hardware-based technologies such as Intel SGX can help public blockchains like bitcoin and Ethereum to settle thousands of transactions per second. SGX is existent on all Intel devices such as laptops, and with it, users can send zero-confirmation transactions in a peer-to-peer manner, without straining the main blockchain. Sirer explained:
“SGX is a very exciting technology, and there are other trusted computing technologies, not SGX, but by other vendors, that provide similar guarantees. What that gives you is the ability to know what protocol somebody else is following. That is a fundamental leap.”
In the long-term Sirer said that a rapidly increasing number of institutions, conglomerates, retailers, and companies in general will shift towards the blockchain, moving away from centralized databases. But, because problems surrounding blockchains are very technical, Sirer echoed the viewpoint of Buterin in saying that it could take many years of development and significant resources to properly commercialize blockchain technology.
“Blockchains actually constitute an enormous opportunity to rethink the way we build backend systems. Instead of building things in the old fashioned way, with centralised databases that talk to each other, that need to be reconciled, that need to be kept in sync, we can actually now build much more efficient distributed databases that share information naturally, in a seamless manner,” Sirer added.
https://www.ccn.com/genesis-london-conference-study-shows-ethereum-is-more-decentralized-than-bitcoin/
....
I think a case could be made for bitcoin being more decentralized than eth. Power and decision making for btc are split between developers and miners, while all decision making aspects of ethereum are heavily centralized within a power structure consisting of one man: Vitalik Buterin. Sometimes I get a feeling the media pushes an agenda in terms of it redefining topics in a way which convinces the public bitcoin cash and ethereum are the future, while hating unfairly on bitcoin.
Is ETH more decentralized than BTC? What do people think about this?
Transaction could be seen on the blockchain but you don't know where it came from. but ethereum can track coins and some of their ERC20 token requires KYC. So for me bitcoin is more decentralized than Ethereum.
Seriously? I would suggest to look closely in the blockchain and see it for yourself because you're misleading a fact. And with the kyc thingy, it just require when you participated in ICO or a requirement in withdrawal in some exchange sites but the erc20 token itself doesn't need any. 
I think they are both decentralized enough, there is no way to understand which one is more decentralized unless someone takes control of it.
The miners who have consisted of biggest mining part of bitcoin tried to create a new path for bitcoin that would benefit the miners yet they failed because you need everyone to accept and agree with your moves yet people weren't for them. However when segwit came out people collectively agreed on that and followed pursuit and it was accepted on blockchain.
You can still use segwitless exchanges or exchanges with segwith, thats what decentralized means, having your own option to do whatever you want.
The miners who have consisted of biggest mining part of bitcoin tried to create a new path for bitcoin that would benefit the miners yet they failed because you need everyone to accept and agree with your moves yet people weren't for them. However when segwit came out people collectively agreed on that and followed pursuit and it was accepted on blockchain.
You can still use segwitless exchanges or exchanges with segwith, thats what decentralized means, having your own option to do whatever you want.
No. Bitcoin is more decentralized than bitcoin.
Ethereum has their own founder and have foundation while bitcoin developers are truly anonymous. Transaction could be seen on the blockchain but you don't know where it came from. but ethereum can track coins and some of their ERC20 token requires KYC. So for me bitcoin is more decentralized than Ethereum.
Ethereum has their own founder and have foundation while bitcoin developers are truly anonymous. Transaction could be seen on the blockchain but you don't know where it came from. but ethereum can track coins and some of their ERC20 token requires KYC. So for me bitcoin is more decentralized than Ethereum.
Bitcoin is more decentralised cryptocurrency then Ethereum.Ethereum is the centralised cryptocurrency,most of the people in this forum know this. And Ethereum price is some time controlled by the whales.I think nearly 40% of Ethereum is hold by the whales.So they can easily manipulate the Ethereum price .
Nope, Actually ethereum is an altcoin or alternative cryptocurrency and it is the substitute decentralized than bitcoin , Because ethereum sometimes the price of it getting lower or more than of it is than bitcoin that is really a decentralized that can more efficient than ethereum.
An altcoin can be more or less decentralized than Bitcoin. It doesn't matter that it's not the first and the most popular cryptocurrency. I don't know how you came up with that.
Also, altcoins arent substitutes of Bitcoin. They are alternatives which means different variants.
If Ethereum is solely link only to one person then It should not be decentralized. Vitalik is the founder but never holds the ethereum's popularity all for himself just like satoshi for bitcoin. I guess people think for now are on which coin is the fastest and cheapest to use in terms of using it in transactions. I am comfortable using ethereum, which is less cheaper and faster way to send my money from outside the country. But if I will choose which to hold then I would choose BTC, I am at ease unlike any other crypto.
Nope, Actually ethereum is an altcoin or alternative cryptocurrency and it is the substitute decentralized than bitcoin , Because ethereum sometimes the price of it getting lower or more than of it is than bitcoin that is really a decentralized that can more efficient than ethereum.
I think a case could be made for bitcoin being more decentralized than eth. Power and decision making for btc are split between developers and miners, while all decision making aspects of ethereum are heavily centralized within a power structure consisting of one man: Vitalik Buterin. Sometimes I get a feeling the media pushes an agenda in terms of it redefining topics in a way which convinces the public bitcoin cash and ethereum are the future, while hating unfairly on bitcoin.
Is ETH more decentralized than BTC? What do people think about this?
i dont know exactly. it maybe true. ethereum has several advantages against bitcoin. such as having a larger network size, fee advantages, and transaction speeds. these things are proofs of providing a better blockchain solution comparing with bitcoin.
Quote
At the Genesis London blockchain conference held in February by Binary District, Cornell professor, cryptocurrency expert, and computer scientist Emin Gün Sirer said in an interview that a study done by prestigious university Cornell has shown the Ethereum blockchain network is currently more decentralized than bitcoin.
Ever since the debut of Ethereum in 2015, false information about the technology and the foundation of the Ethereum blockchain network have circulated around cryptocurrency communities, leading some investors, users, and developers to believe the Ethereum network is inferior to other major blockchains in terms of security and decentralization, given its flexibility and ability to handle large-scale decentralized applications.
A study done by Cornell professor Sirer and researchers at the institution has shown that less Ethereum nodes are linked to institutions or organizations than bitcoin, which means that more nodes on the Ethereum network are operated by individuals rather than companies.
“The data shows that the [Ethereum] nodes are both in the latency space, and also geographically more distributed round the world. Ethereum nodes tend to come from all sorts of places, smaller networks, and homegrown entities, as opposed to Bitcoin nodes, which tend to be located in data centres. Our study found that the majority of Bitcoin nodes, 56%, are in data centres,” said Sirer.
Ethereum is structurally and fundamentally different to bitcoin because its network is optimized to handle decentralized applications (dapps). The Ethereum network should be able to process thousands of transactions per second in the long-term to support dapps in the size of Facebook or Twitter, as Coinbase co-founder Fred Ehrsam previously noted.
In an interview with South Korea’s biggest mainstream media outlet JoongAng, Ethereum founder Vitalik Buterin emphasized that full scalability of Ethereum could take 3 to 5 years, depending on the implementation process of innovative scaling solutions like Plasma and Sharding.
Sharding significantly optimizes the process of mining through the proof-of-work (PoW) consensus algorithm by eliminating competition amongst miners. Instead of miners spending computing power to win individual blocks, miners can cooperate to solve mathematical problems so that computing power is not lost.
Plasma is a highly anticipated solution that is currently being developed by the open-source community of Ethereum developers that can allow various blockchains within the Ethereum network to handle different tasks, to reduce the burden on the main Ethereum blockchain.
At the conference, Sirer also noted that hardware-based technologies such as Intel SGX can help public blockchains like bitcoin and Ethereum to settle thousands of transactions per second. SGX is existent on all Intel devices such as laptops, and with it, users can send zero-confirmation transactions in a peer-to-peer manner, without straining the main blockchain. Sirer explained:
“SGX is a very exciting technology, and there are other trusted computing technologies, not SGX, but by other vendors, that provide similar guarantees. What that gives you is the ability to know what protocol somebody else is following. That is a fundamental leap.”
In the long-term Sirer said that a rapidly increasing number of institutions, conglomerates, retailers, and companies in general will shift towards the blockchain, moving away from centralized databases. But, because problems surrounding blockchains are very technical, Sirer echoed the viewpoint of Buterin in saying that it could take many years of development and significant resources to properly commercialize blockchain technology.
“Blockchains actually constitute an enormous opportunity to rethink the way we build backend systems. Instead of building things in the old fashioned way, with centralised databases that talk to each other, that need to be reconciled, that need to be kept in sync, we can actually now build much more efficient distributed databases that share information naturally, in a seamless manner,” Sirer added.
https://www.ccn.com/genesis-london-conference-study-shows-ethereum-is-more-decentralized-than-bitcoin/
Ever since the debut of Ethereum in 2015, false information about the technology and the foundation of the Ethereum blockchain network have circulated around cryptocurrency communities, leading some investors, users, and developers to believe the Ethereum network is inferior to other major blockchains in terms of security and decentralization, given its flexibility and ability to handle large-scale decentralized applications.
A study done by Cornell professor Sirer and researchers at the institution has shown that less Ethereum nodes are linked to institutions or organizations than bitcoin, which means that more nodes on the Ethereum network are operated by individuals rather than companies.
“The data shows that the [Ethereum] nodes are both in the latency space, and also geographically more distributed round the world. Ethereum nodes tend to come from all sorts of places, smaller networks, and homegrown entities, as opposed to Bitcoin nodes, which tend to be located in data centres. Our study found that the majority of Bitcoin nodes, 56%, are in data centres,” said Sirer.
Ethereum is structurally and fundamentally different to bitcoin because its network is optimized to handle decentralized applications (dapps). The Ethereum network should be able to process thousands of transactions per second in the long-term to support dapps in the size of Facebook or Twitter, as Coinbase co-founder Fred Ehrsam previously noted.
In an interview with South Korea’s biggest mainstream media outlet JoongAng, Ethereum founder Vitalik Buterin emphasized that full scalability of Ethereum could take 3 to 5 years, depending on the implementation process of innovative scaling solutions like Plasma and Sharding.
Sharding significantly optimizes the process of mining through the proof-of-work (PoW) consensus algorithm by eliminating competition amongst miners. Instead of miners spending computing power to win individual blocks, miners can cooperate to solve mathematical problems so that computing power is not lost.
Plasma is a highly anticipated solution that is currently being developed by the open-source community of Ethereum developers that can allow various blockchains within the Ethereum network to handle different tasks, to reduce the burden on the main Ethereum blockchain.
At the conference, Sirer also noted that hardware-based technologies such as Intel SGX can help public blockchains like bitcoin and Ethereum to settle thousands of transactions per second. SGX is existent on all Intel devices such as laptops, and with it, users can send zero-confirmation transactions in a peer-to-peer manner, without straining the main blockchain. Sirer explained:
“SGX is a very exciting technology, and there are other trusted computing technologies, not SGX, but by other vendors, that provide similar guarantees. What that gives you is the ability to know what protocol somebody else is following. That is a fundamental leap.”
In the long-term Sirer said that a rapidly increasing number of institutions, conglomerates, retailers, and companies in general will shift towards the blockchain, moving away from centralized databases. But, because problems surrounding blockchains are very technical, Sirer echoed the viewpoint of Buterin in saying that it could take many years of development and significant resources to properly commercialize blockchain technology.
“Blockchains actually constitute an enormous opportunity to rethink the way we build backend systems. Instead of building things in the old fashioned way, with centralised databases that talk to each other, that need to be reconciled, that need to be kept in sync, we can actually now build much more efficient distributed databases that share information naturally, in a seamless manner,” Sirer added.
https://www.ccn.com/genesis-london-conference-study-shows-ethereum-is-more-decentralized-than-bitcoin/
....
I think a case could be made for bitcoin being more decentralized than eth. Power and decision making for btc are split between developers and miners, while all decision making aspects of ethereum are heavily centralized within a power structure consisting of one man: Vitalik Buterin. Sometimes I get a feeling the media pushes an agenda in terms of it redefining topics in a way which convinces the public bitcoin cash and ethereum are the future, while hating unfairly on bitcoin.
Is ETH more decentralized than BTC? What do people think about this?
Whether this is important, so far both coins have become the favorite coin in the world of crypto, there is nothing to compare because both coins are equally good when viewed from fans and popularity.
The purpose of creating ETH is to replace the defects of Bitcoin. I think that ETH can replace Bitcoin in the future because everyone knows that ETH has more positive features than Bitcoin and most prominently is that ETH's transaction speed is much faster than Bitcoin.
a "decentralized" network is only as strong as its users, after all what is a decentralized network but a network run by the users? and when ETH users are like you who don't even know what ETH was created for and compare it with a currency, this network is doomed!
I would not want to either discredit anyone here, my opinion on the above topic... Given the expert opinion is correct, what it is for the Bitcoin investors to compared the technology on this two coin yet, if we look into the prevailing market status it is par from the market price as posted. No more comparison on the technical issue...
The purpose of creating ETH is to replace the defects of Bitcoin. I think that ETH can replace Bitcoin in the future because everyone knows that ETH has more positive features than Bitcoin and most prominently is that ETH's transaction speed is much faster than Bitcoin.
a "decentralized" network is only as strong as its users, after all what is a decentralized network but a network run by the users? and when ETH users are like you who don't even know what ETH was created for and compare it with a currency, this network is doomed!
The purpose of creating ETH is to replace the defects of Bitcoin. I think that ETH can replace Bitcoin in the future because everyone knows that ETH has more positive features than Bitcoin and most prominently is that ETH's transaction speed is much faster than Bitcoin.
total rubbish. ethereum and bitcoin have very little in common. they're aiming for very different things. neither will ever replace the other.
as for decentralization, i can easily believe ETH mining is way more distributed because of the GPU thing. but while it still has proof of vitalik it's a long way from decentralized governance. there is absolutely zero possibility of the DAO thing ever happening with bitcoin.
This is generally interesting information, because critics of ethereum have always stated that ethereum is a very centralized crypto currency, especially in comparison with bitcoin. However, these two coins are still the leaders of all the crypto currency, and they must successfully develop and conduct all other types of crypto-currency.
I always take such researches with a grain of salt. 70% of Ehtereum was premined and sold during the ICO and no one knows exactly how much ke investors hold. Yes, there is Gini coefficient which shows the decentralization close to Bitcoin, however that is not a big deal to split funds into hundreds of smaller wallets in order to show decentralization. At the same time, there wasn't a premine of bitcoin so it got distributed more organically.
I think this is just a rumor that is not true because some anti-Bitcoin members fabricated this news. Although ETH is very good and can replace Bitcoin in the future, but no one dares to confirm this will become true.
The purpose of creating ETH is to replace the defects of Bitcoin. I think that ETH can replace Bitcoin in the future because everyone knows that ETH has more positive features than Bitcoin and most prominently is that ETH's transaction speed is much faster than Bitcoin.Jump to: