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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.

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Related Terms

Dutch Auction
A Dutch Auction, also know as an "inverted" auction, starts off with high asking price that decays over time until a pre-determined floor price.
Whale
Someone who holds an enormous amount of cryptocurrency and has the ability to wave the market
51% Attack
An attack on blockchain by a group of miners controlling more than 50% of network hash rate
Distributed Ledger Technology (DLT)
Describes the technology that enables distributed ledger.
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