Just how decentralized are cryptocurrencies?

“I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China. There are four miners in China that control over 50% of Bitcoin.” When Brad Garlinghouse made this recent assertion, it seems he was referring to China’s disproportionate accumulation of Bitcoin mining power. The Ripple CEO highlights an issue that continues to be fervently debated in the crypto community – namely, that despite decentralization being a core principle of cryptocurrencies, Bitcoin – and indeed, many of the biggest cryptocurrency projects – continue to exhibit some degree of centralization, in one form or…...