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Measuring the Concentration of Control in Contemporary Ethereum
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Ethereum is undergoing significant changes to its architecture as it evolves. These changes include its switch to PoS consensus and the introduction of significant infrastructural changes that do not require a change to the core protocol, but that fundamentally affect the way users interact with the network. These changes represent an evolution toward a more modular architecture, in which there exists new exogenous vectors for centralization. This paper builds on previous studies of decentralization of Ethereum to reflect these recent significant changes, and Ethereum's new modular paradigm.
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Concentration in Governance Control Across Decentralised Finance Protocols
A statistically validated network of shared DeFi governance token holdings reveals persistent, institution-dominated links between protocols.
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