The most centralized cryptocurrency?

[SquallLeonhart]

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.

I am 99% sure that XRP could be the most centralized currency ever in existence. Did you know that XRP creators could print more XRP? Yes you heard it right, it happened before, they could print as many XRP as they want and there is nothing anyone can do about it. I do not think that there is any coin that could be as centralized as that. Don't get me wrong there are tons of them that could be called centralized, look at BNB for example, all under the control of CZ or more like Binance as a whole, isn't that centralized? Of course it is, but not as much as XRP.

Or check out Tron, it is under the control of Justin Sun and he decides on the price, does that mean that they are the biggest centralized currency? No it is not, XRP is still the worst. I feel like as soon as you hear the words "print more" you should run away from it as fast as you can.

[Anonylz]

Whether centralized or decentralized not really matters to most because there is money to be made in a specific time frame or an estimated time, after all the goal of either centralized or decentralized coin in your wallet is to make profit out of it, although having a complete decentralized crypto is much better because that way you won't be face with the chance of exposing your data, or afraid of whatever future uncertainty that may befall the project, nowadays, rug pull is a common practice, and nobody wants to experience such.

[eaLiTy]

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.

There are many fun factors that can be said about centralized cryptocurrencies, Ripple owners hold more than 60% of the total supply of the coins and the total supply is another huge number and still there are many who believe that the price would rally to multiple dollars, the same case with BNB, they are creating a monopoly of the market and BNB is similar to EOS, you only have 21 nodes that check and validate every new transactions and it is true that majority of the people does not care about centralization or decentralization, all they care is making money.

[tabas]

I've quickly thought of Tether and XRP.

Whether centralized or decentralized not really matters to most because there is money to be made in a specific time frame or an estimated time, after all the goal of either centralized or decentralized coin in your wallet is to make profit out of it, although having a complete decentralized crypto is much better because that way you won't be face with the chance of exposing your data, or afraid of whatever future uncertainty that may befall the project, nowadays, rug pull is a common practice, and nobody wants to experience such.

It is important to know that you're holding a centralized coin and you've invested a lot on it. But if not, yeah, I agree to you that it doesn't really matter as long as they've got their own markets for you to buy and sell.

[ingiltere]

The most centralized cryptocurrency is the closest one to have %100 ownership. If you control majority of coins you control the market. Neither XRP nor BNB is nowhere close to being the most centralized cryptocurrency. Most criticism come to them is about controlling ability to network, which is mostly misunderstanding. Almost every altcoin in the market is some level of centralized, it's hard to order these though when you don't have enough information about owners/miners/stakers.

[the rise]

For now, the most centralized cryptocurerrency in my opinion is usdt, since it is a stabilcoin. i know that, xrp, bnb also have centralization properties, but they also still have decentralized properties in price, whereas usdt is indeed completely centralized.

[Abiky]

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.

Tether is extremely centralized since accounts can be frozen at will, putting people's funds at risk. USDC also does the same thing. The only decentralized alternative to such stablecoins is DAI. As far as traditional cryptocurrencies are concerned, we could say the most decentralized coin in the world is Bitcoin. Ethereum is decentralized as well, but not as much as Bitcoin is. The past events of the "DAO hack" where the ETH blockchain was "reserved", tells us that Ethereum is a little bit centralized. Not only that, but Vitalik Buterin has strong influence over the project. Bitcoin has no leader, so it's much more decentralized in this regard.

Unfortunately, most people don't care about decentralization these days. They prefer convenience/ease-of-use on top of evertthing else. As long as this is the case, centralized coins will continue to rise like there's no tomorrow. I wouldn't worry about this as long as Bitcoin stays alive and running for many generations. Just my opinion

[mu_enrico]

USDT (Tether Ltd), BNB (Binance), XRP (Ripple Inc.), all that are centralized and it can't be more centralized since already one corporation controls the assets. What's more centralized than a company? Hmm... maybe one individual. Perhaps there is some small cap shitcoin that launched, premined, and controlled by one individual.

[tersek]

I think that cryptocurrencies with a centralized system have better development than decentralized ones. But usually centralized cryptocurrencies are prone to price manipulation, because of the centralized system, but that's just my opinion.

[FanEagle]

XRP, anyone that say anything else is lying to you and there is no other answer that is as correct as XRP because that is THE centralized currency. People may say USDT and they are right that USDT is more centralized that is for sure but they are stablecoin and not a crypto currency, they are a usd pegged stable currency using blockchain tech and I do not think that they deserve to be in the same conversation as other crypto currencies, they are just a different thing. So, when you remove that the most centralized one is XRP.

Definitely there could be some even more centralized in 49423th spot or whatever but that is just doesn't matter, they are way too down the list to be cared for, whereas XRP is a high level coin that could literally crash to under 1 satoshi in a second if the owners of Ripple company decide to do that, they have the button for it and as soon as they push it it is all down the drain.

[tvplus006]

... I think the most centralized is stable coins like USDT am I right?

USDT is indeed an example of a centralized cryptocurrency, but not all stablecoins are centralized. An example of real decentralization among stablecoins is DAI. In addition, all exchange coins can be safely attributed to centralized, including the most popular among them, the Binance Coin (BNB).

[SirLancelot]

For me I don’t say that any cryptocurrency is semi centralized, it’s either that it is centralized or it is decentralized, no other option for me. If a cryptocurrency is semi-centralized, then it is already centralized. If the government should come out tomorrow and say that they want to  take action against all the centralized cryptocurrencies, even the ones you say that are semi centralized are going to be part of what’s going to be affected.

Anyways, as for what to choose, I would prefer a coin that decentralized. Coins that are truly decentralized gives you freedom to do things as you please, so there is no need going for the ones that are centralized.

[bocyaj]

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.

Bad eggs are not happened ,it was only created.When the algorithm was made with to cheat people.Some investors get into bad eggs.The bad thing was,they won't accepted it had a bad eggs.They keep their more investments on trading of same coin.At the last,they will have huge amount of bad eggs in the basket.

[Mihawk]

The only way for centralized projects to survive is to use the financial strength of the people in control to determine the price levels and attract more people to participate, if that fails, there is no chance compared to decentralized projects. At the beginning of any engagement you need to set your priorities, most people are here for some quick win, so centralized and decentralized projects have the same affinity, but when there are problems, centralized certainly stand out. I don't know the current situation of BNB, but XRP in my opinion is the main leader of centralization.

[apa don]

For now, the most centralized cryptocurerrency in my opinion is usdt, since it is a stabilcoin. i know that, xrp, bnb also have centralization properties, but they also still have decentralized properties in price, whereas usdt is indeed completely centralized.

Yes, that's true, usdt, xrp, bnb, an asset that is focused on now because it's a stabilcoin, but think about it the other way around, will other market assets decline or will it no longer be concentrated in the eyes of those who invest?
Of course it doesn't happen like that, market assets are not concentrated now because competitors are agile assets in this regard.

[Abiky]

XRP, anyone that say anything else is lying to you and there is no other answer that is as correct as XRP because that is THE centralized currency. People may say USDT and they are right that USDT is more centralized that is for sure but they are stablecoin and not a crypto currency, they are a usd pegged stable currency using blockchain tech and I do not think that they deserve to be in the same conversation as other crypto currencies, they are just a different thing. So, when you remove that the most centralized one is XRP.

Definitely there could be some even more centralized in 49423th spot or whatever but that is just doesn't matter, they are way too down the list to be cared for, whereas XRP is a high level coin that could literally crash to under 1 satoshi in a second if the owners of Ripple company decide to do that, they have the button for it and as soon as they push it it is all down the drain.

Couldn't agree more with you mate. No other cryptocurrency on the market is as centralized as XRP is. The company issuing the coin (Ripple) controls a large portion of its total supply. Imagine if governments begin to crackdown on the company or the company itself decides to hit the "kill switch". This will lead to many undesired losses in the crypto/Blockchain space. Only a fool will consider XRP as a serious long-term investment. It's like a "glorified" banking system greatly defeating the purpose of crypto/Blockchain tech. I'd say XRP is more of a centralized database than a distributed ledger. How long will it survive, it's yet to be seen.

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

[Sirait]

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

BNB is the most centralized cryptocurrency but I wonder why they can't keep BNB at $500. Centralized cryptocurrencies should be able to maintain price power to protect users' funds, when the price of centralized coins drops are they worth buying?

[lalabotax]

BNB is the most centralized cryptocurrency but I wonder why they can't keep BNB at $500. Centralized cryptocurrencies should be able to maintain price power to protect users' funds

Even if it is centralized, doesn't mean the price won't move. It is all about the demand in the market. While the demand can be varied every day. So, how can maintain the price of the coin? It is also including BNB, the price is also based on the current demand. I don't see a reason of centralized coins to be controlled the prices. If it happens, I suspect people are worried to buy because of the high possibility of price manipulation.

[sheenshane]

BNB is the most centralized cryptocurrency but I wonder why they can't keep BNB at $500. Centralized cryptocurrencies should be able to maintain price power to protect users' funds

Even if it is centralized, doesn't mean the price won't move. It is all about the demand in the market. While the demand can be varied every day. So, how can maintain the price of the coin? It is also including BNB, the price is also based on the current demand. I don't see a reason of centralized coins to be controlled the prices. If it happens, I suspect people are worried to buy because of the high possibility of price manipulation.

That's the right answer because it doesn't mean it is own by a centralized exchange the price is under their control, still, the coin has a market cap and it has a demand and supply.  It doesn't matter if BNB owns by Binance, it just matters what network they used and who owns this network, if they use decentralized networks it means the coin is also decentralized.

The disadvantage with this centralized owner of cryptocurrencies might be selling a huge supply on a market cap that might turn down the price in the market or it can be manipulated.

[kidbounty]

The most centralized project today is XRP. this altcoin is really bad, nothing even worse than this coin. I'll bet that XRP is the worst shitcoin. XRP was created only to enrich its developers, for no other purpose than that. the reason why this coin is still at the top, is because XRP is one of the oldest coins and has great exchange support. if problems like the beginning of last year re-occur in the future. then this coin will be die.