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There are over 200,000 ETH PoS validators running already. I think that’s pretty decentralized.
by chrismmay 5y ago
There are over 200,000 ETH PoS validators running already. I think that’s pretty decentralized.
- catmanjan 5y agoHow many banks are there?
- chrismmay 5y agoIn the US, probably around 10,000. US Banks all operate by virtue of a banking license issued at the state or federal level. Banks must do as they are told by these centralized authorities or else they lose their license.
- asdfasgasdgasdg 5y agohttps://www.statista.com/statistics/184536/number-of-fdic-insured-us-commercial-bank-institutions https://www.statista.com/statistics/184536/number-of-fdic-in... 4,300 or so FDIC insured banks. But um I'm not sure it's so different from Ethereum, where a mining node must implement the protocol or else be unable to participate.
- chrismmay 5y agoDecentralization is about not needing anyone’s permission to participate and being free from censorship. You don’t need good credit or even ID to open an account and no one can seize your funds because of debts, fines, or taxes. Of course validators have their slashing rules, but those are programmatic. Not some judge in divorce court, for example.
- asdfasgasdgasdg 5y ago> Decentralization is about not needing anyone’s permission to participate But you do need permission, which is implicitly conferred by following the protocol. It's really quite similar to traditional banks, it's just that the protocol is digital/mathematical rather than legal.
- chrismmay 5y agoIndeed. In my experience the legal system is highly biased and corrupt.