Ethereum Centralization Debate Rages on After Ballyhooed Upgrade

Privacy & Data Security Law

Sept. 23, 2022, 8:00 AM

Making the Ethereum blockchain less centralized and vulnerable to attack was touted as a bonus from the recent high-profile upgrade of the most commercially important cryptocurrency network.

After little more than a week since the software enhancement was implemented, some industry observers believe the network is actually heading in the opposite direction. They are turning to a somewhat obscure indicator developed during the early days of crypto, dubbed the Nakamoto Coefficient, to evaluate the consequences.

Overall, the Ethereum upgrade referred to as the Merge replaced power-hungry computers called miners with so-called validators that pledge Ether tokens as security so they …