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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

Halving
Event that serves to reduce in half the reward of the Proof-of-Work miners that operate in the blockchain network.
Proof-of-Burn (PoB)
A consensus algorthm that assigns block validation queue based on the coins/token burned by the validator.
Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
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