The most centralized cryptocurrency?

[Abiky]

Ever since Bitcoin launched, a plethora of altcoins came along with it. Most of the cryptocurrencies are decentralized, but there are a few which are "bad eggs". Depending on the consensus algorithm used, the cryptocurrency can be either decentralized, semi-centralized, or completely centralized. Some say XRP (Ripple) is heavily centralized, while others say it is Binance Chain (BNB). Most people don't care about decentralization as long as they're able to make money with crypto in the least time possible.

That said, I'm curious to know which cryptocurrency is the most centralized in the world today. Is it XRP, Binance Chain, or STEEM. Why do you think such cryptocurrency is centralized? Will decentralized counterparts ultimately prevail? Your input will be greatly appreciated. Thank you.

[Bttzed03]

~ Why do you think such cryptocurrency is centralized?

Some reasons are having someone at the top that can stop/control the entire network and it's hosted on centralized servers. Others might also add the lack of blockchain transparency (closed source).

Will decentralized counterparts ultimately prevail?

You'll have to point out these decentralized counterparts.I don't know of any decentralized BNB, XRP, or STEEM.

[Tytanowy Janusz]

Will decentralized counterparts ultimately prevail?

They won't. True decentralization is very expensive and unscalable. Its not like bitcoin have around 5 TX/s because bitcoin is old tech that will sooner or later die. Its because thats pretty much what you can have with 100% decentralized chain secured by proof of work. Always when you try to scale up your chain you need to give a little bit of decentralization in return. And we need both decentralized and semi-centralized for different purposes. For storing value we need safe - full decentralization (BTC, ETH). For fast, cheap, efficient swaps we need semi-centralized chains (BNB). Fully centralized chain ... I don't think we need that - its just inefficient alternative for "excell sheet".

The most centralized chain - XRP.

[BayAngelo]

All trading platforms expect the DEX are centralized. binance and co are all centralized exchanges. there are advantages and disadvantages of using these exchanges. the advantages it they charge little fees for trading while the disadvantage is that your money is exposed to exploit. you can loose your funds if the exchange got attacked. exchange might decide what to do with your funds.

[clarkt]

I think the most centralised cryptocurrency is cryptocurrency that is not fairly distributed,  has a single point of failure and can not be access by anyone at anytime. Some people say xrp is the most centralized cryptocurrency,  while some argue it is binance coin.  No matter the opinion out there,  the centralized cryptocurrency is not good for openness and transparency we hold dear in cryptocurrency community.

[Zilon]

For me I am just concerned about the little profit a coin can produce within a short space of time while a move on to other projects. If a coin is decentralized I might decide to invest more that doesn't mean I tend to neglect other centralized tokens but I invest with huge risk management so as to minimize my losses and maximize my profits

[pakhitheboss]

All CEX tokens are centralized. I also consider Tether to be centralized. Actually it is hard to find a cryptocurrency that is decentralized except Bitcoin.

As long as you're transparent decentralization does not matter.

[ElmedoRator]

All CEX tokens are centralized. I also consider Tether to be centralized. Actually it is hard to find a cryptocurrency that is decentralized except Bitcoin.

As long as you're transparent decentralization does not matter.

I agree with this, there are many exchanges that have tried to create their own governance tokens, but have not shown the application and role to the market. However, I also find that the leader factor is very necessary for this market, so the issue of decentralization and centralization needs a harmonious combination.

[hugeblack]

What will make the difference when answering this question? This question will have value when it is the most decentralized currency?
As for the answer, it is stablecoins, specifically BUSD, because they are centralized and completely dependent on BINANCE's promise.
As for the network, it is a BSC (all the nodes are under its management and no one can make a decision except to manage the network) and a centralized Ripple as protocol.

[macson]

Ever since Bitcoin launched, a plethora of altcoins came along with it. Most of the cryptocurrencies are decentralized, but there are a few which are "bad eggs". Depending on the consensus algorithm used, the cryptocurrency can be either decentralized, semi-centralized, or completely centralized. Some say XRP (Ripple) is heavily centralized, while others say it is Binance Chain (BNB). Most people don't care about decentralization as long as they're able to make money with crypto in the least time possible.

That said, I'm curious to know which cryptocurrency is the most centralized in the world today. Is it XRP, Binance Chain, or STEEM. Why do you think such cryptocurrency is centralized? Will decentralized counterparts ultimately prevail? Your input will be greatly appreciated. Thank you.

The vision of satoshi and Altcoins developers is now different, the average Altcoins developer-only aims to get rich from the cryptocurrency they created.  satoshi is a legend and the least greedy man in this world, unlike  centralized coin developers ^{(bnb, ripple and many more)} who don't emulate satoshi's attitude who created decentralized coins to improve the world's outdated financial system.

[accounting 181293]

I think BNB is the most centralized. they seem to want to monopolize the crypto market. but no one hates it, because bnb can make huge profits. Unlike other coins, people don't like it, just because it looks centered.

[electronicash]

any coin that has a team that could make changes to its code is centralized. BNB can is owned by the binance team which a government could force them to be investigated and maybe even do something with it. Hoskinson of ADA had lobbied personalities and even tried to make contacts with people who can influence markets. XRP is often said to be the most centralized and decisive as well mainly because they separate the entity of XRP token and Ripple. and it is unfairly distributed.

[MusaMohamed]

any coin that has a team that could make changes to its code is centralized.

After Bitcoin, I can not see too many project that is decentralized. They were created by a team and it is what you said, changes can be made by the core team.

Some projects try to create DAO votes for decisions but I don't know how decentralized those votes are. Because big nodes can be from core team members and they can distort vote results.

BNB can is owned by the binance team which a government could force them to be investigated and maybe even do something with it. Hoskinson of ADA had lobbied personalities and even tried to make contacts with people who can influence markets. XRP is often said to be the most centralized and decisive as well mainly because they separate the entity of XRP token and Ripple. and it is unfairly distributed.

Ripple is bad, totally centralized.
BNB is not too good because there are very little validators. You can compare it to Ethereum validators.
ADA, I don't know.

[jrrsparkles]

Ever since Bitcoin launched, a plethora of altcoins came along with it. Most of the cryptocurrencies are decentralized, but there are a few which are "bad eggs". Depending on the consensus algorithm used, the cryptocurrency can be either decentralized, semi-centralized, or completely centralized. Some say XRP (Ripple) is heavily centralized, while others say it is Binance Chain (BNB). Most people don't care about decentralization as long as they're able to make money with crypto in the least time possible.

That said, I'm curious to know which cryptocurrency is the most centralized in the world today. Is it XRP, Binance Chain, or STEEM. Why do you think such cryptocurrency is centralized? Will decentralized counterparts ultimately prevail? Your input will be greatly appreciated. Thank you.

Most of the projects are centralized in this cryptocurrency world especially everything that is running on BSC I believe so obviously BNB is highly centralized. While if you ask me which centralized project is having huge trading volume the its tether which even exceeded the bitcoin trading volume at some point so they keep printing Billions of tokens and liquidating it.

[Master of Shitcoins]

I will nominate XRP, it's a centralized shit coin. Ripple devs are controlling it inherently and also much XRP coins. It was documented very well when Ripple Labs did engage in very shady activity to hide abuse and manipulation.

Ripple is a bad coin for everyone who supports decentralized crypto. We should avoid it.

[devil2man]

in my opinion the most centralized altcoin remains xrp, in second place i would put bnb and steam but also many stablecoins are not decentralized at all, personally i would never invest in this type of altcoin because they remind me too much the traditional bank system

[zonefloor]

Cryptocurrency was originally decentralized. It is a sector that has emerged to invest and earn money anonymously without being tied to any institution or organization. However, even though it was launched for such a purpose, there is absolutely no decentralization. Ethereum, bnb does not matter which crypto currency you want to buy, you have to use it as an exchange tool. While the majority of these exchange platforms impose a kyc requirement, some do not impose a kyc requirement until a certain transaction. Even in this case, decentralization is gone. In short, I do not think that there will be complete decentralization in the coming years.

[wxa7115]

Ever since Bitcoin launched, a plethora of altcoins came along with it. Most of the cryptocurrencies are decentralized, but there are a few which are "bad eggs". Depending on the consensus algorithm used, the cryptocurrency can be either decentralized, semi-centralized, or completely centralized. Some say XRP (Ripple) is heavily centralized, while others say it is Binance Chain (BNB). Most people don't care about decentralization as long as they're able to make money with crypto in the least time possible.

That said, I'm curious to know which cryptocurrency is the most centralized in the world today. Is it XRP, Binance Chain, or STEEM. Why do you think such cryptocurrency is centralized? Will decentralized counterparts ultimately prevail? Your input will be greatly appreciated. Thank you.

The issue is that there are many vectors to consider when we think of a decentralized currency, for example not everything is the technology, it also has to do with how many people are holding the coins, how concentrated is the power of the miners and several other factors.

I think by far XRP is the most centralized coin, not only it can be argued if it is a cryptocurrency at all but the supply of the coin is incredibly concentrated in just a few hands and the developers are under an investigation by the SEC, so if I were to cast my vote to the most centralized cryptocurrency it will definitely go to XRP.

[btcltcdigger]

Yes, XRP is centralized, but there is a worse one. BNB!
Binance has full control over BNB and BSC, all hosted on alibaba vps servers

[indah rezqi]

Ever since Bitcoin launched, a plethora of altcoins came along with it. Most of the cryptocurrencies are decentralized, but there are a few which are "bad eggs". Depending on the consensus algorithm used, the cryptocurrency can be either decentralized, semi-centralized, or completely centralized. Some say XRP (Ripple) is heavily centralized, while others say it is Binance Chain (BNB). Most people don't care about decentralization as long as they're able to make money with crypto in the least time possible.

That said, I'm curious to know which cryptocurrency is the most centralized in the world today. Is it XRP, Binance Chain, or STEEM. Why do you think such cryptocurrency is centralized? Will decentralized counterparts ultimately prevail? Your input will be greatly appreciated. Thank you.

In my opinion, Cryptocurrency centralization is a very good step to maintain balance. If I am wrong, it means that my knowledge is still lacking. Regarding which one is centralized, my answer is Ripple (XRP).