Bitcoin and the law of centralization
The evolution of internet access in India, from a single-user bulletin board service to the vast, decentralized web, mirrors a broader trend towards centralization in digital services. Despite the internet’s expansive possibilities, most users gravitate towards a few familiar sites. This centralization tendency is also evident in Bitcoin’s blockchain technology, where mining pools’ dominance challenges the decentralized ideal, highlighting the need for potential regulatory intervention or system redesign.