Its an interesting question that hasn't really been studied, I think. If a decentralized system is centralized in practice, is there any value to it being decen

Its an interesting question that hasn't really been studied, I think. If a decentralized system is centralized in practice, is there any value to it being decentralized? The crypto market always stuck me as being designed the way a student is taught how markets work in college. Exchanges all the way down. Any finance professional will tell you that only a tiny fraction of stock market trades are actually on an exchange, the vast majority are filled privately between a successive layers of a broker's clients and only the ownership change is sent to the authority.