Is Bitcoin Really Decentralized?

Is Bitcoin Really Decentralized?Is Bitcoin Really Decentralized?A hallmark feature of Bitcoin and the blockchain it relies on has been the notion of decentralization. Praised by users and believers as the answer to the evils of Big Government, Wall Street and a host of other perceived societal ills, decentralization has been touted as the way forward. The design of Bitcoin is, at first glance, clearly decentralized. No government or single entity is responsible for backing Bitcoin, as central banks back most national currencies. But digging deeper in the Bitcoin ecosystem yields evidence of increasing centralization, a trend running contrary to what Bitcoin believers would have the public think.

The most recent and pressing issue facing Bitcoin as a whole has been the proposed increase to the block size. Changing the block size is fundamental toward enabling more, and larger transactions, which many view as necessary for scaling the blockchain. The debate over block size has polarized users and developers, prompting wide discussion that often turned nasty. The most noticeable aspect of the debate, however, has been the wide influence wielded by a

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