Centralized
By CoinGecko | Updated on Mar 03, 2020
An organization structure wherein a small handful of actors have control over the entire network. In the context of Bitcoin, it is usually used to describe the centralization of mining power that has been concentrated in the hands of major mining equipment producers.
Related Terms
Market Taker
Participant of the market who buys and sells from currently existing orders
ASIC Resistant
A term used to describe cryptocurrency proof-of-work protocols that are resistant to Application-Specific Integrated Circuit (ASIC), by packing in various parameters that make it difficult for ASICs to have a competitive edge against consumer hardwares.
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
Block Reward
One of the mechanisms built into a blockchain to incentivize validators
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