The most centralized cryptocurrency?

[desticy]

I think BNB is one of the most centralized cryptocurrencies. Anyway, earlier.
Now, of course, thanks to the ecosystem, it has become in demand as part of the payment of transaction fees, but what will happen if binanas is banned from conducting its activities around the world.

[magnum cyber]

Most people don't care about decentralization these days, so they'll invest into any cryptocurrency that will leave them with a lot of money within a short amount of time. Binance Coin, XRP, EOS, and TRON are all centralized cryptocurrencies subject to the negative effects of a single point of failure. Yet, that hasn't stopped people from buying them. Demand is on the rise for such cryptocurrencies, putting the fate of the entire crypto/Blockchain space in jeopardy. At least, there are decentralized alternatives willing to save the day. As long as there's one decentralized cryptocurrency, nothing else matters. Just my opinion

It's true that nowadays people only focus on trading with relatively short profits and they can get a lot of profit, but isn't DEFI now an alternative? and currently I am more interested in 1inch tokens, maybe this token can be a consideration for long-term investment. That's just my opinion because everyone has their own investment system, as mentioned above.

[imstillthebest]

most people don't care about decentralization as long as they're able to make money

they care because it is hard to make money if the coin is centralized like for ex. if its a pos , only the whales can stake big coins and gets the reward but there will be less chance for the regular individuals .
why etherium is not included ? eth is is also turning into centralized and then next would be binance  .
xrp is not a pos and steem is not big as the three  .

[tvplus006]

I think BNB is one of the most centralized cryptocurrencies. Anyway, earlier.
Now, of course, thanks to the ecosystem, it has become in demand as part of the payment of transaction fees, but what will happen if binanas is banned from conducting its activities around the world.

The same thing will happen with all other centralized coins if negative events occur with the company that is the issuer. This is the reason for the danger of investing in centralized coins, because they are dependent on the well-being of their issuer. So in the event that you have centralized coins, you need to follow the news that is associated with the issuer of this coin.

[bitcon]

According to Vitalik Buterin, there are three main features: scalability, decentralisation and security, and all projects can have only two of them.

Let’s look at  BNB, I consider it to be very centralised, it is regulated by Binance. But I think that the most centralised currencies are collateralized stablecoins like Tether. They are totally dependent on their collateral, and sequentially, on the company they were emissioned by. 

[jostorres]

According to Vitalik Buterin, there are three main features: scalability, decentralisation and security, and all projects can have only two of them.

Let’s look at  BNB, I consider it to be very centralised, it is regulated by Binance. But I think that the most centralised currencies are collateralized stablecoins like Tether. They are totally dependent on their collateral, and sequentially, on the company they were emissioned by. 

I do agree that USDT is the most centralized but you are forgetting that they are stablecoins and not crypto coins, there is a big difference between them, one of them is just a blockchain based version of the dollar we have always seen, I can literally have dollars in my pockets and it would be the same thing, the only reason USDT ever exists is the fact that people trade crypto using stablecoins and that's it, hell I can use my local exchange and they just credit me with the local currency without needing USDT at all, I do not know why there is any need left, if you want fiat you can turn your crypto into fiat on exchange nowadays.

What I do not really understand is the fact that people are acting as if they are crypto, they are not. It is not the same as XRP or BNB or TRX which are centralized but at least crypto currencies, they are totally different.

[Abiky]

According to Vitalik Buterin, there are three main features: scalability, decentralisation and security, and all projects can have only two of them.

Let’s look at  BNB, I consider it to be very centralised, it is regulated by Binance. But I think that the most centralised currencies are collateralized stablecoins like Tether. They are totally dependent on their collateral, and sequentially, on the company they were emissioned by. 

BNB is extremely centralized. But stablecoins are worse. I've seen many times where both Tether and USD Coin's respective issuers froze users' funds at will. They've essentially "blacklisted" certain ETH addresses because transactions were deemed suspicious. This tells us that using stablecoins is no different than using an ordinary bank account.

Most people are miseducated about crypto/Blockchain tech, so they're made to believe that everything is decentralized, when in fact, it's not. As long as the majority has this mindset, centralized cryptocurrencies will only grow bigger over time. There's no need to worry about a few cryptocurrencies becoming centralized as long as there's one decentralized alternative on the market. Bitcoin may be all you need to obtain true financial freedom thanks to its decentralized and censorship-resistant design. I hope it stays that way forever so that Satoshi's vision could be fulfilled. Just my opinion