A study of the state of crypto networks (including Bitcoin and Ethereum) revealed:
- Bitcoin Underutilizes Its Network
- Ethereum is Better Distributed Than Bitcoin
- Neither Are All That Decentralized
- Ethereum Wastes Mining Effort That Can Be Put To Better Use
- Ethereum Exhibits Better Variance in Fairness, Favoring Small Miners
Kinda crazy that mining for the top 2 coins is actually very centralized. The top 4 minters control more than 50% of the hash rate and "the entire blockchain for both systems is determined by fewer than 20 mining entities".
Here's the link to the study: http://hackingdistributed.com/2018/01/15/decentralization-bitcoin-ethereum/