Cryptocurrency is decentralized primarily because it operates on a distributed ledger technology called blockchain. What makes cryptocurrency decentralized?
Cryptocurrency is decentralized primarily because it operates on a distributed ledger technology called blockchain.
What makes cryptocurrency decentralized?
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Cryptocurrency is decentralized because it operates on a peer-to-peer network, meaning that transactions are verified and recorded by multiple nodes in the network rather than a central authority. Additionally, the blockchain technology used in cryptocurrencies ensures that all transactions are tranRead more
Cryptocurrency is decentralized because it operates on a peer-to-peer network, meaning that transactions are verified and recorded by multiple nodes in the network rather than a central authority. Additionally, the blockchain technology used in cryptocurrencies ensures that all transactions are transparent and cannot be altered or controlled by any single entity. Decentralization also means that users have control over their own funds and can make transactions without the need for a third party. Overall, this system gives cryptocurrency its independence from traditional financial institutions and government regulation.
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