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Lido, Coinbase, Kraken and Binance have majority stakes in ETH. Does that matter? • londonbusinessblog.com

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The Ethereum Network is approaching its final hours before the merger, which will move one of the major global blockchains from a proof-of-work (PoW) system to consensus-building to proof-of-stake (PoS).

The upgrade to the blockchain has raised concerns in the crypto community that Ethereum could become less decentralized — more centralized — by moving to PoS from PoW, the latter of which powers the Bitcoin blockchain, for example.

Concerns about an increase in centralization due to PoS on the Ethereum blockchain after the merge may have some merit. The current Ethereum betting market – staking is how Ethereum token (ETH) holders can contribute to the merger before execution and how consensus and new tokens will be distributed afterward – is not as decentralized as some may think.

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