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April 27, 2018, 11:08:20 PM |
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Because of BTC's structure, lack of pre-mining and the fact it was the first into this space, BTC is by far the most decentralized major cryptocurrency. Nodes are running all over the world and this has created a highly secure network that has never been hacked. By contrast, when Ethereum got hacked, it ultimately rolled back ETH transactions, which showcases just how different (and centralized) it is compared to BTC. ETH founder, Vitalik, even promises to throw countries or their leaders off of the ETH network if they "do evil". Do you want a crypto where one person (Vitalik) gets to decide what it means to "do evil" and which transactions don't get to go through as a result?
Like ETH, many of BTC's competitors are centralized, which means there are fewer pressure points to be exploited by hostile actors. The CEO or founder could exit-scam, or release all the coins in escrow, or a nation-state could bribe/blackmail the person/ppl in charge into making changes to the protocol that benefit them, etc. With Bitcoin, there's no one in charge. There's no one person or hardware that it's too reliant upon. There are fewer pressure points, which makes it far more secure.
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