Governance is relying too much on capital.
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Idena is a blockchain that is contrasted with centralized systems. However, according to data collected by Idena, the current situation is not a completely decentralized system.
In the case of Bitcoin, a representative blockchain that adopts PoW, 19 mining pools occupy most of the hash rate.
80% of them are Chinese pools, and the current situation seems to be that 51% of the hash rate is composed of only three pools.
Even in the case of PoS, the current situation is the same, with only 400 wallets holding 53% of the ETH supply in Ethereum. For other consensus mechanisms, it can be seen that the number of block generators and approvers is limited, and the situation is that "a certain layer of powerful people is gaining more and more power."
Idena aims to solve the "centralization of power" problem in such blockchains and build a fair system that does not rely on computing power (= financial power).
Q: "Can you tell me more about 'Proof of Personhood (PoP)'?"
A: "In PoW, block generation ability depends on computing power, and in PoS, block generation ability depends on the number of coins held. In contrast, PoP depends on proof of human identity and node uniqueness. In other words, all that is required to become a mining node is to prove that you are human. Idena is the first and only blockchain to adopt PoP. It does not require sharing of personal information, revealing personal identity, or the need for third-party identification agencies."