The blockchain analytics group IntoTheBlock released data on Apr 8, which showed the Bitcoin (BTC) leading the decentralization metric at 12%, closely followed by Dash (DASH) at 16%, Bitcoin SV (BSV) at 26%, Bitcoin Cash (BCH) at 29%, Ethereum and Cardano at 40%, Litecoin (LTC) at 47%, Zcash (ZEC) at 53%, Ethereum Classic (ETC) at 73% and Chainlink faring the worst at 80%.
IntoTheBlock calculates the decentralization metric, using the “Concentration By Large Holders” data, which is derived from the number of addresses of a particular cryptocurrency, containing 0.1% to more than one percent of the supply.
The released statistics from IntoTheBlock reveals the various degrees of decentralization of prominent crypto-assets. The lower the number of large holders, the more decentralized and widely distributed a crypto-asset is. The higher the number of large holders, the more centralized and sparsely distributed a crypto-asset is. Generally, less decentralized crypto-assets are more prone to price manipulations, while more decentralized crypto-assets are less so. However, data for crypto-assets that support masternodes or some kind of staking facility, may not be accurate, as users resort to distribute and divide their held tokens, to maximize the number of masternodes or stakes, they are contributing to the network for rewards.
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- John McAfee Privacy Focused Ghost Coin To Go Live On May 25
- Dash Halvening: Block Rewards Cut By 7.14%, Scarcity Rises
- PEPE Coin Price to Reach $5 in the Next Seven Days?
- How does Dash Cryptocurrency work?
- PIVX Releases Roadmap For The Future – What’s To Come?
- Top 5 Cryptocurrencies Of The Week – Week 47
- Mastering Your Investments: The Top 10 Masternode Cryptocurrencies for 2023
- Top 5 Small Cap Crypto To Invest in April 2022
- Crypto Market: Golos +371%, bZx/Chainlink Partner, On-Chain Analysis etc.
- Top 5 Cryptocurrencies of the Week -(Week 1)-2022
- Cryptocurrencies: A Risky Asset for Professional Players
- LINK Price Jumps to $11.5 After Strong Rebound
- BNB Price Explodes to $40 Establishing a New All-Time High
- How to generate Passive Income with Cryptocurrencies
- 97% of Bitcoin Addresses Are in Profit
- 50% in 14 days: Will DASH start another 1000% Bitcoin rally, as it did in 2018?
You might also like
More from Altcoin
What's interesting is the startling similarity between the market patterns of Bitcoin (BTC) and the NASDAQ. Let's delve into this …
Ethereum phone: designed to seamlessly integrate with EVM chains and layer 2s. It created a significant buzz by selling out …
Within a few months of its introduction, Base protocol has accrued a TVL of $185 million. Is Cardano dead?