Researchers from Mesari, a cryptocurrency data provider, pointed to a centralized verifier and expressed concern about BSC.
As Binance Chain’s 11 verifiers directly select Binance Smart Chain’s verifiers daily, analysts are warning the protocol’s centralization.
According to Cointelegraph, a cryptocurrency media outlet on the 12th (local time), concerns over the centralization of the Binance ecosystem are growing, despite Binance supporters celebrating the upward performance of the Binance Coin (BNB) chart in the first quarter of 2021.
Mesari researcher Ryan Watkins said on the 12th (local time) that Binance Smart Chain (BSC) verifiers were aimed at centralizing, “all cycle people are tricked by the latest centralized solutions to all blockchain problems.” Said.
“Every cycle influencers can pour out this narrative and when it’s done, they can dump unsuspecting individual investors,” he pointed out.
BSC uses a deterministic authority agreement in which 21 active validators are selected daily by Binance Chain, a network dominated by 11 validators. The BSC validator holds the BNB.
Mesari’s Wilson Wisham speculated that “it’s difficult not to assume that each Binance Chain verifier is tied to or tied to Binance in any way.” “They each produce blocks in a predetermined order. There seems to be no stake-weighting mechanism to determine which one produces the next block.”
Watkins argues that its speed advantage over the Ethereum mainnet is a product of “the magic of centralization” rather than “technical innovation”, and attempts to address perceived misunderstandings regarding the performance of BSC.
“BSC is an Ethereum fork with a set of centralized verifiers. That’s it. Nothing more, nothing less,” he added.
“If you think that BSC has achieved a really smart contract supremacy and will become the global payment group, you will be in crisis,” he said.
However, Twitter user Erosime refutes the arguments of Watkins et al. that BSC does not provide more than Ethereum-based DeFi Lego replicas, saying’copy’ is the essence of technological innovation.
“As far as inventions and innovations are concerned, copying is a feature, not a bug. Copying is something worth exploring, which means you only need one feature difference to get better.”