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Bitcoin and Ethereum might not be as decentralized as you think

Bitcoin has been the darling of the previous year showing a meteoric rise in its 'virtual' value. The dreamy view of Bitcoin and for that matter, Ethereum is based on the idea that they are decentralized giving power back to the people. However, cryptocurrency expert Emin Sirer and colleagues from Cornell University says that no one has even bothered to fact check as to how truly decentralized these systems are. They found that 4 Bitcoin mining operations accounted for 53% of its mining capacity while 3 miners accounted for 61% of Ethereum's mining. The beg the question to be asked: 'Are these cryptocurrencies truly decentralized?'

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