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The Solana blockchain narrowly averted another network outage as cloud service provider Hetzner turned off 40% of the nodes with the flip of a switch. The issue isn't unique to Solana, and centralized providers host up to 70% of Ethereum's nodes. Cryptocurrency is built on the premise of decentralized participation, but there are strong economic incentives that push many node operators toward centralized hosting solutions. In today's post, we will examine why centralization is so common in an ecosystem that prides itself on being decentralized. #sol #eth #crypto
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In the weeks since the complete implosion of the FTX cryptocurrency exchange, it has become clear that billions of dollars worth of customer funds weren't the only casualty of this disaster. In addition to the massive loss of wealth, the market is flashing big red warning signs that customers' trus…
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