The Risks of Decentralization for Cryptocurrencies

Cryptocurrencies rose to prominence in 2017, fuelled by their decentralized setup, giving back power to the people. Developed nearly a decade ago, Bitcoin was a cryptographer’s response to the 2008 financial crisis and Satoshi Nakamoto’s aim was to take away absolute power from a few individuals and entities to distribute it to everyone. Nakamoto embedded a statement into the Genesis block of Bitcoin’s blockchain that read:
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