Decentralized

By CoinGecko | Updated on Mar 03, 2020

Describes a system where there are no centralized points of failure (eg. a pillar that holds an entire structure up), or an organization that has no central authority figure. Bitcoin is an example of a decentralized system.

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Related Terms

Blockchain

In Bitcoin's case, blockchain describes its decentralized, public ledger which contains transactional information.

Mineable

A cryptocurrency is said to be "mineable" when it has the system thrugh which miners can be rewarded with newly-created cryptocurrencies for creating blocks.

Proof-of-Developer (PoD)

A concept of identifying the developers of a project as a means of vouching reputation for a project

Distributed Ledger

Ledgers whose data is stored and synced across a network of nodes.

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