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.

Share this with a friend!

Related Terms

Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
Mining
It is the process of the miners verify and adding transaction recors into a block.
Application Programming Interface (API)
It is a software that acts like an intermediary or a bridge that lets two applications talk to each other. It is the one that lets applications, data and devices interact.
Hard fork
It is a permanent divergence of a blockchain into two blockhains. The original blockchain does not recognize the new version.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.
coingecko (thumbnail mini)
CoinGecko for iOS
coingecko (thumbnail mini)
CoinGecko for Android