One of the biggest advantages that cryptocurrencies have over their fiat counterparts is the decentralized status, which provides higher security, reduces attack risks, and ensures that coins are not controlled by a central entity. Despite this aspect, recent research has concluded that the majority of digital assets available on the market are centralized.

To put things better into perspective, CryptoCompare, which is a market data aggregator, has recently published a digital asset analysis for over 200 coins. The authors analysed the digital assets from a variety of different perspectives, and using more than 30 attributes. When doing the analysis, researchers considered the supply concentration, distribution, market cap, governance, volume data, regulatory classification, and decentralized status of the coins.