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.
Related Terms
Zero Knowledge Proof
Cryptographic proof for 2 parties to verify a value without revealing what the value is.
Segregated Witness (SegWit)
A soft fork implementation to change the Bitcoin Protocol's transaction format to address Bitcoin's scalability issues whilst introducing new features.
ERC-20
ERC-20 is one of the most widely used token standards in Ethereum to create fungible, exchangeable tokens.
Decentralized Autonomous Organization (DAO)
Open source and decentralized systems that do not require centralized operators or controllers.
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