Cryptocurrency Q&A
What is decentralization in crypto?
What is decentralization in crypto?
CryptoGuru
Sat Oct 26 2024
|
5 answers
1085
I'm interested in learning about decentralization in the context of cryptocurrency. I want to understand what it means and how it applies to this domain.
5 answers
HanbokGlamourQueen
Mon Oct 28 2024
Bitcoin utilizes a decentralized blockchain, ensuring no individual or entity exercises sole control over the network.
Was this helpful?
283
23
Elena
Sun Oct 27 2024
This decentralized nature fosters a collective retention of power among all users, who jointly oversee the blockchain's operations.
Was this helpful?
296
21
ethan_carter_engineer
Sun Oct 27 2024
A key characteristic of decentralized blockchains is their immutability. Once data is entered into the blockchain, it becomes irreversible and cannot be altered.
Was this helpful?
63
96
CryptoVanguard
Sun Oct 27 2024
For Bitcoin, this immutability translates to transaction records that are permanently etched into the blockchain.
Was this helpful?
100
31
MountFujiView
Sun Oct 27 2024
These transactions are not only permanent but also transparent, allowing anyone with access to the blockchain to view them.
Was this helpful?
343
42
