Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Despite being labeled as decentralized , the networks for many leading cryptocurrencies such as Bitcoin and Ethereum are ironically quite centralized. What does this mean?
Despite being labeled as decentralized the networks for many leading cryptocurrencies such as Bitcoin and Ethereum are ironically quite centralized. What does this mean? Please select all that apply.
Select all the answers you think are correct.
AThe decisionmaking power is concentrated into a handful of individuals
BMining activities are concentrated into large mining centers andor pools
CSupply of hardware & equipment is concentrated in a few manufacturers
DThe users of these blockchains are concentrated in a few geographic regions
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started