The Pursuit of Decentralization: Challenges of Ethereum from the WSB Incident
Recently, a remarkable event revealed the importance of Decentralization. Users from a certain retail investor forum in the US collectively bought specific stocks to counter Wall Street short-selling institutions, resulting in massive losses for the latter. However, the joy of victory was short-lived, as the relevant trading platforms immediately took measures to restrict trading, and even the forum's servers were shut down. This event has sparked deep reflections on Decentralization.
Bitcoin and Ethereum, as the two largest decentralized projects in the world, provide a new direction for human society. Their core idea is to eliminate the reliance on third-party guarantees. However, even the highly decentralized Ethereum still faces centralization risks.
Ethereum, as a programmable financial underlying network, has brought numerous possibilities to the open financial market, including ICOs, DAOs, DeFi, and NFTs.