running on its own blockchain?
Thanks for your feedback!
The coin's infrastructure operates in physical locations which answer to some sort of local government. The number of locations and the regulatory environments those jurisdictions have correspond to some level of regulatory risk. For example if all of your mining is in China, and China decides to ban mining your coin will suffer more than if your mining is setup across 10 different countries with various approaches to crypto.
i was using cryptocurrency as an umbrella term for both "pure" cryptocurrencies and hosted tokens, but both can be analyzed in this framework. A "pure" cryptocurrency is typically more decentralized than a token because it's mined into existence and not an issued pre-mine by developers. This is what the SEC looks at when making a determination about how to regulate cryptocurrencies and why Coinbase only lists the coins it does. I wrote a bit about this here if anyone is interested: https://cryptograf.io/blog/2018/03/23/Government-Eyes-Cryptocurrency/