Study Reveals Ethereum Is More Decentralized Than Bitcoin

Study Reveals Ethereum Is More Decentralized Than Bitcoin

Cornell professor, cryptocurrency expert, and computer scientist Emin Gün Sirer at the Genesis London blockchain conference held in February by Binary District, said in an interview that a study done by prestigious university Cornell has shown that Ethereum blockchain network is currently more decentralized than bitcoin.

Ever since the debut of Ethereum in 2015, false information about the technology and the foundation of the Ethereum blockchain network have circulated around cryptocurrency communities, leading some investors, users, and developers to believe the Ethereum network is inferior to other major blockchains in terms of security and decentralization, given its flexibility and ability to handle large-scale decentralized applications.

A study done by Cornell professor Sirer and researchers at the institution has shown that less Ethereum nodes are linked to institutions or organizations than bitcoin, which means that more nodes on the Ethereum network are operated by individuals rather than companies.

Sirer said: “The data shows that the [Ethereum] nodes are both in the latency space, and also geographically more distributed round the world. Ethereum nodes tend to come from all sorts of places, smaller networks, and homegrown entities, as opposed to Bitcoin nodes, which tend to be located in data centres. Our study found that the majority of Bitcoin nodes, 56%, are in data centres,”

Ethereum is structurally different to bitcoin because its network is optimized to handle decentralized applications (dapps). The Ethereum network should be able to process thousands of transactions per second in the long-term to support dapps in the size of Facebook or Twitter, as Coinbase co-founder Fred Ehrsam previously made known.

Author – Joseph Young

Culled from CCN

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