Top 1.6% of Holders Own 90% of EOS Supply And It DOESN'T MATTER

in #eos6 years ago (edited)

This is in reply to: @berniesanders

Source: https://www.cryptoglobe.com/latest/2018/06/eos-centralization-top-1-6-of-holders-own-90-of-supply/

This distribution is very normal is all cryptocurrencies. There is no way to stop rich people using their money as they please, taking away their wealth will be wrong.
As long as they can't control the chain there isn't a problem, and atm they don't.
If you want some unbiased numbers, 1.6% is currently 2650 wallets which is a lot of wallets out of only a few hundred thousand wallets created. The numbers are much worse in most other coins - having this level of distribution is no problem.

However, hypothetically lets say it turns into a problem. Since the chain is PoS people can vote and fork the chain to remove the coins from someone who has amassed too many coins and/or are acting malicious. There is a lot EOS can do to prevent someone gaining a lot of power.
The constitution states that no entity can be in control of more than 10% of the supply max. I doubt any party will break this out of fear of being blacklisted and having their coins burnt.
I don't think there should be any worry of centralization with EOS.