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Is it true etn is centralized and team is holding

most of the total supply?

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https://coinmarketcap.com/currencies/electroneum/

The current IBFT consensus is a mix of team and trusted third party nodes, with opportunities to become more decentralised in future updates. The majority of ETN on the smart chain is locked in an open source bridge contract which is used for moving ETN from the previous legacy Blockchain to the new smart chain. Those funds belong to whoever held ETN on the legacy Blockchain...only those wallet holders can bridge those funds and take control of them from the contract.

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