To anyone surprised about the rollback on BNB that happened yesterday… You shouldn’t ❌❌

To anyone that is surprised by the BNB rollback that happened yesterday…

While BNB has always been entirely centralized and permissioned project, some here might be surprised by the BNB rollback today – but in fact, you shouldn’t…

BNB seems decentralized to newbies, but its few validators, only 21 in number, are chosen by a committee of 11 validators, who in turn are controlled by Binance!

Instead of validation being determined randomly according to their weight, as is the case in decentralized blockchains, BNB uses several "3rd validators" (close to Binance) for the committee.

Furthermore, Binance is smart enough to never publicly claim that BNB chain is decentralized or admit it is centralized, thereby building on the nativity on uninformed users. So, at least they are not lying but rather do this for legal reasons.

On top, BNB is closed source – nobody knows, what is going on code wise.