> A blockchain is a worse database. It is slower, requires way more storage and compute, doesn’t have customer support, etc. And yet it has one dimension along

> A blockchain is a worse database. It is slower, requires way more storage and compute, doesn’t have customer support, etc. And yet it has one dimension along which it is radically different. No single entity or small group of entities controls it – something people try to convey, albeit poorly, by saying it is “decentralized.” Is it true that major blockchains out there are really not controlled/controllable by a small number of people? I read that top 10,000 account holders hold over a third of all bitcoin [1] Assuming same thing happens with other blockchains, isn't that the same problem as top 10,000 Facebook shareholders owning a third of its shares? Basically the system is decentralized on paper, but in reality massive centralization happens driven by economic incentives, same as in non-blockchain world. [1] https://time.com/6110392/bitcoin-ownership/ https://time.com/6110392/bitcoin-ownership/