Good day, I'm curious about something related to cryptocurrency. I've been hearing a lot about it lately and I'm trying to wrap my head around some of the basics. Specifically, I'm wondering - who exactly controls crypto money? Is it a centralized entity, like a government or a bank? Or is it decentralized, with no single authority in charge? I'd appreciate any clarification you can provide on this matter. Thank you in advance for your time and expertise.
6 answers
Dario
Thu Aug 29 2024
Each distinct cryptocurrency possesses its own blockchain, ensuring a unique and secure record of every transaction conducted using that particular currency.
emma_grayson_journalist
Thu Aug 29 2024
A cryptocurrency blockchain functions akin to a traditional bank's balance sheet, serving as a comprehensive ledger for transactions.
HallyuHeroLegend
Wed Aug 28 2024
Participation in the blockchain ecosystem is open to anyone, regardless of their background or location, promoting inclusivity and accessibility.
Riccardo
Wed Aug 28 2024
This blockchain operates continuously, with each transaction being meticulously verified and recorded, providing an unalterable history.
Martina
Wed Aug 28 2024
The decentralized nature of blockchains means that no single entity, be it a company, country, or third party, exercises control over them.