coingecko (thumbnail mini)
Continue in app
Track prices in real-time
coingecko (thumbnail mini)
Continue in app
Track prices in real-time

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

Lightning Network
It is the "second layer" or an off-chain of payment protocol that operates on top of a blockchain. Payments on this network do not need block confirmation and it will be instant.
Hey Hey Hey
A term made popular by Carlos Matos who was the spokesperson for the Bitconnect Ponzi. He used it frequently during Bitconnect events to rile up the crowd.
Bagholder
A person who is holding a large quantity of cryptocurrency which is declining in value or becoming worthless
Wallet Address
The address in which cryptocurrency can be stored, sent to and receive.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.