Guy, the host of the Coin Bureau channel, which provides analysis of popular Bitcoin and altcoins, ranked the most decentralized cryptocurrencies to his more than 2 million followers. Here are the details…
Coin Bureau drew attention to these altcoin projects: Decentralization!
Coin Bureau host Guy, the hub of Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), and Monero (XMR) to his 2.05 million subscribers in a new video It says there are cryptos that don’t exist. He says that behind Bitcoin’s top spot are the developer layer, the coin layer, the infrastructure layer, the Blockchain layer, and the outer layer. According to the analyst, there are dozens of individuals and institutions built on Bitcoin. The BTC supply is widely distributed, there is no shortage of infrastructure to interact with the Bitcoin Blockchain, and there are over 15,000 full nodes on the Bitcoin Blockchain. The analyst also uses the phrases:
The only thing bitcoin lacks is true decentralization in the outer layer, but this is the part where every cryptocurrency fails. I think not everyone can agree that this counts as a layer.
Ethereum says Monero, Litecoin and Dogecoin are following Bitcoin and still lacking in some aspects of decentralization. In the case of Monero, the privacy coin is facing regulatory issues. Ethereum’s decentralization still seems to be missing at some layers, according to the analyst. As for Monero, XMR is constantly at risk of being removed from centralized exchanges due to unreasonable crypto regulations. “There are also Litecoin and to some extent Dogecoin to consider, but we all know that these cryptocurrencies do not meet some tiers,” he said.
ADA, DOT and SOL are also listed
Analyst says it’s too early to identify other most decentralized cryptocurrencies but Cardano (ADA), Polkadot (DOT) ) and Solana (SOL) sees the possibility of being included in the list. The analyst uses the following statements:
By now, you may have noticed that most of the more decentralized cryptocurrencies have been around for a while, and many believe the time has come to allow Bitcoin to become so decentralized. This means it may be too early to tell what the most decentralized cryptocurrencies are, but there is a feeling that Cardano, Polkadot and possibly Solana will be the next contenders.
