The beauty of Bitcoin and other cryptocurrencies lies in its decentralized nature, ensuring there is no single point of failure. However new research has found that the majority of the digital asset existing in cryptospehere are highly centralized. Cryptocompare, the cryptocurrency market data aggregator analyzed over 200 crypto assets and had published a Cryptoasset Taxonomy Report.
The report highlights that just 16% of crypto assets are genuinely decentralized, around 55% as centralized and the rest as semi-decentralized.
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