Decentralized means not controlled by any single entity or institution. Blockchain is an example of something that is decentralized, all full nodes in the network own a copy of the blockchain. And not just a single entity (which would make it centralized). In a decentralized system, if one node goes down, the rest of the network continues to operate without hiccups.
Decentralized
Related Terms
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Ethereum is a decentralized, open-source, and distributed computing platform that enables the creation of smart contracts and decentralized applications, also known as dapps. Ethereum, or the Ethereum Virtual Machine (EVM), is an attempt to build a new version of the internet: An internet where money and payments are built-in. An internet where users can own […]
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Dash (DASH) is a cryptocurrency based on Bitcoin software but has anonymity features that make it impossible to trace transactions to an individual. It was created by Evan Duffield in 2014 and was previously known as XCoin (XCO) and Darkcoin. Dash describes itself as digital cash that aims to offer financial freedom to everyone. Payments are […]
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Full nodes are internet-connected computers that store a complete copy of the blockchain within a network. Full nodes also verify that the blockchain is valid and consensus rules are enforced. Due...
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EOS is the native token of EOSIO network, which is a type of blockchain technology that is positioning itself as a decentralized operating system. EOS.IO is a blockchain protocol powered by its...
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Forex stands for “foreign exchange” and refers to the buying or selling of one currency in exchange for another. While it is called “foreign” exchange, this is just a relative term. The terms “foreign” and “domestic” are relative to the person using the term. What is foreign to someone is considered domestic to another. “Currency exchange” […]