kaal:claim:3227933-019

Most current blockchain applications lack complete decentralization: proof of work style validation has produced mining pools because of economies of scale and unbalanced reward structures.

For instance, the traditional mechanism for validating and verifying a new block of transactions – e.g., Bitcoin's proof of work protocol - has led to "mining pools" as a result of economies of scale and unbalanced reward structures.

Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018), 5. All Just Hype?, p. 13
https://ssrn.com/abstract=3227933 · source PDF

Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018). SSRN: https://ssrn.com/abstract=3227933

• proof of work validation mechanisms

failuresupport: arguedfailure: Mining pool recentralizationfamily: recentralization-driftconsensus-and-securitydecentralizationeconomics

• extended_by kaal:claim:3227967-032 Existing blockchains and DAOs still lack genuine decentralization, and there are currently no true DAOs: Bitco...
• restated_by kaal:claim:3808873-008 Proof of Work block rewards structurally reintroduce centralization: the economic nature of mining rewards inc...
• restated_by kaal:claim:3782198-024 Bitcoin proved that a decentralized peer to peer network can manage valuable assets without a central authorit...

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