Centralization

On July 15, 2020, a massive hack described as "a coordinated social engineering attack" by Twitter targeted multiple high-profile users, including Tesla's Elon Musk, investor Warren Buffet, Amazon's Jeff Bezos and many others. The attack prompted Twitter CEO Jack Dorsey to say that it was a tough day for the social media platform. https://twitter.com/jack/status/1283594553618911232?s=19 The hack which targeted crypto users suggests that scammers managed to either find a severe security loophole in Twitter's login recovery process or that they somehow…

Despite being around for a long time now, numerous individuals still consider cryptocurrencies to be undergoing experimentation. However, Bitcoin has been able to gain some form of importance in the financial domain. This is such that governments and central banks worldwide are planning towards the regulation and introduction of their own digital currencies. We have numerous cryptocurrencies in the market but Bitcoin remains the leader despite its remarkable shortcomings. At press time, the dominance of Bitcoin was 62.97 percent, while its…