As it stands roughly 93% of the Steem is in the hands of roughly 100 accounts.
That doesn't sound very decentralized to me. I think the Steemit account holds approximately 41% of all Steem.
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As it stands roughly 93% of the Steem is in the hands of roughly 100 accounts.
That doesn't sound very decentralized to me. I think the Steemit account holds approximately 41% of all Steem.
Actually right now it's about 20% (55 out of 266 million). The high centralization of the stake is not news (it was worse a year ago), however it's unlikely that we can find an example of a coin that doesn't follow a Pareto or similar distribution of wealth (every coin has whales) it's just easier to spot in the Steem world because of the public nature of the interactions and the human readable addresses.
Note: the 20% refers to the steemit account.
"Decentralization" is a meaningless buzzword thrown around the crypto community, but everyone knows it's about getting in early with a few buddies and cashing out big.