Stunning read, decentralization works in the best interest of hive and I liked how you highlighted the possibilities of how the chain can be controlled. Firstly exchanging partaking in blockchain governance has experienced it's own notoreity, I think I remember houbi and binance helping Justin Sun to do the same thing. They we're in the news for so long and this exactly brings distrust and bad publicity, so I think this might make exchanges think twice with helping rich entities to take over a blockchain. The whole cryptoverse thrives in trust. When trust and track record is breached, business is bad especially for exchanges, but then, they can do this if the money is too much to refuse.
In reality, 40 accounts owning 50% of hive seems alarming on the surface, but I doubt if these 40 accounts can align to take over the Chain. It would take some great length of Sabotage.
As per the 30 days cooling period, this measure is also great. I guess hive has taken a lot of preventive measures.
Nevertheless delegated proof of brain is still an issue especially when it comes to distribution.
However, we're forked and more decentralized than steemit and steem ever was. It's probably a work in progress.
@tipu curate
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Blockchains are intended to operate without the need for trust. This does not hold true for exchanges. We trust them to look after our crypto but they can freeze our crypto at will. This happenened when Steem was powered up to help Justin Sun. Exchanges can change their rules at any time and if we do not comply with these changes we could loss access to our crypto. I think we need a better way forward, which minimizes how exchanges can control our crypto.
Hmm true.. there is one thing I have learnt in my little journey in crypto is that exchanges are not to be trusted. That's generally the reason why they say NOT YOUR KEYS, NOT YOUR CRYPTO.
It would really be great if there is a way if we can find a way on how exchanges have control over our crypto as you have said.
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Well, it'll be difficult to find ways to lesson the control of exchanges. It'll be a big leap towards decentralization. Even if we're better off than steem, I do believe this is still a huge issue. Because who's to say someone won't be buying up the hive and staking them through the exchanges. This was really eye-opening.
About the 40 accounts owning over 50% of Hive, do you think the percentage would reduce when we have more people coming into Hive and making contents with supports from curation project. I think that way more Hive would be created and be distributed to these accounts.
With the relative number of Hive distributed to his accounts, we may say the percentage of Hive in which most of those Hivers own begins to reduce?
Am I right about this?
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I doubt it, I think it's more like it will lessen it when people buy hive off the exchanges. There are lots of hive on the exchange