In the world of blockchain, the distribution structure of tokens often directly affects the governance model of a project. If the top ten holding addresses control over 80% of the tokens, then no matter how the project party promotes its "community autonomy" concept, it is likely to become an empty slogan.

To help investors gain insight into this critical issue, several analytical tools have emerged. These tools can reveal a wealth of key information, such as whether there are any partially unlocked Tokens, whether there are counterfeit distribution behaviors, and whether there is behavioral consistency among core Addresses, as well as whether they are uniformly controlled by the project party.

The so-called "decentralized governance" should not merely give the illusion of superficiality. True decentralization is not unilaterally claimed by the project party, but must fundamentally achieve the decentralization of control. This is precisely one of the dimensions that investors should focus on when evaluating a project.

When making investment decisions, simply trusting the promises of the project party is far from enough. Investors need to analyze the distribution structure of the Token in depth and understand the actual power distribution. Only when the control is truly decentralized and there are enough independent participants can a project be considered truly decentralized.

Therefore, for investors intending to participate in Blockchain projects, learning to interpret Token structure data and discern the true level of decentralization will become a crucial skill. This not only helps to avoid potential risks but also assists investors in more accurately assessing the long-term development prospects of the project.