Cyber Capital’s investment analyst classified and evaluated the top 50 crypto centers and their decentralized structure. The analyst says that popular meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) are among the most decentralized altcoin projects.
Analyst: DOGE and SHIB are among the most decentralized altcoin projects!
Justin Bons, chief investment officer at Cyber Capital, tells his Twitter followers that only 32 of the top 50 crypto assets, including DOGE and SHIB, are technically decentralized. In this context, the analyst makes the following statement:
Of the top 50 cryptocurrencies; only 32 of them are technically distributed. While decentralization exists on a spectrum, we can draw a line in the sand and answer yes or no. Remember that what is technically correct may not be true in practice!
The analyst says that while DOGE and SHIB are both decentralized, the difference is that DOGE is the only client and does not have on-chain governance. DOGE’s ranking by Bons comes amid a host of other positive news about the token recently. cryptocoin.comAs you follow, a new report by exchange data aggregator Forexsuggest has revealed that Dogecoin is the third fastest digital asset to lower its carbon footprint after cutting its emissions by 25% in 2022.
Also, a new study by crypto-focused site CoinKickoff reveals that Dogecoin has outlived most other altcoin projects created in 2014. The study revealed that 91% of digital assets created nine years ago are now defunct due to lack of interest.
Justin Bons’ crypto project listing
- BTC is technically decentralized (single client and lacks on-chain governance).
- ETH is technically decentralized (lacking on-chain governance).
- BNB centralized (set of validators allowed).
- XRP is centralized (set of validators allowed).
- ADA is technically decentralized (single client and lacks on-chain governance).
- DOGE is technically decentralized (lacking single client and on-chain governance).
- MATIC centralized (Admin key can change rules and steal user funds).
- SOL is technically decentralized (lacking single client and on-chain governance).
- DOT is technically distributed (single client).
- LTC is technically decentralized (lacking single client and on-chain governance).
- SHIB is technically decentralized
- AVAX is technically distributed (single client).
- TRON is technically decentralized (single client).
- UNI is technically distributed.
- ATOM is technically distributed (single client).
- LINK is centralized (admin key can manage oracles).
- XMR is technically decentralized (lacking single client and on-chain governance).
- APTOS is technically distributed (single client).
- TON is technically distributed (single client).
- BCH is technically decentralized (lacking on-chain governance).
- XLM centralized (set of validators allowed).
- NEAR is technically decentralized (single client and lacks on-chain governance).
- APE is technically distributed.
- OKB is technically distributed (single client).
- CRO centralized (set of validators allowed).
- FIL is technically decentralized (single client and lacks on-chain governance).
- LIDO is technically distributed.
- QNT centralized (set of validators allowed).
- ALGO is centralized (transition nodes are allowed and can act as gatekeepers).
- HBAR centralized (set of authorized validators).
- VET centralized (permissioned validator set).
- ICP is technically distributed (single client).
- FTM is technically distributed (single client).
- MANA is technically distributed.
- AAVE is technically distributed.
- BIT is technically decentralized.
- AXS centralized (admin key (can ban players))
- EOS is technically distributed.
- FLOW is technically decentralized (single client and lacks on-chain governance)
- SAND is technically decentralized (lacking on-chain governance).
- EGLD is technically decentralized (lacking single client and on-chain governance).
- THETA is technically decentralized (lacking single client and on-chain governance).
- LUNC is technically distributed (single client).
- XTZ is technically distributed (single client).
- BSV is technically decentralized (lacking governance on the chain).
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