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
Buy the F***in Dip (BTFD)
An encouraging rally by asset/cryptocurrency supporters to buy during a price decline
Block Confirmation
Refers to the number of confirmation a particular block has. Each block ahead of the referenced block adds one block confirmation to it.
Wei
The smallest fraction of an Ether, with each Ether to 1000000000000000000 Wei.
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.
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