I prefer if people differentiate between systems with a PKI and systems without a PKI.
Systems without a PKI like PoW or PoET can be rather centralized like Bitcoin today or decentralized like Bitcoin before the emergence of mining pools.
Systems with a PKI can have an onchain PKI like Cosmos. One of the challenges in an on chain PKI system is you need some of kind social pre-consensus on launch. The crowdfunding established an part of an initial pre-consensus but there are more moving pieces coming.
Systems without a PKI like PoW or PoET can be rather centralized like Bitcoin today or decentralized like Bitcoin before the emergence of mining pools.
Systems with a PKI can have an onchain PKI like Cosmos. One of the challenges in an on chain PKI system is you need some of kind social pre-consensus on launch. The crowdfunding established an part of an initial pre-consensus but there are more moving pieces coming.