Bitcoin Wasn't as Decentralized or Anonymous as Crypto Bros Told You, Study Finds
However, by looking at data on the blockchain from bitcoin’s early days, the researchers found that, when it launched, it was less a truly decentralized network than it was a system propped up by a small minority.” activity between the period when the currency first launched in 2009 and when it reached parity with the U.S. dollar in 2011. Mining is the critical process by which new tokens are created using complex math equations.
The research casts a slightly new perspective on bitcoin, chipping away at the myth that digital currency is the freewheeling financial medium its acolytes claim it is.
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