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
Batch Auction
A Batch Auction distributes an amount of tokens to users that is proportional to their contribution to the pool.
Limit Order / Limit Buy / Limit Sell
Orders placed by traders to buy or sell a cryptocurrency when a certain price is reached
Hot Wallet
It is a tool that store your cryptocurrencies and always connected to internet
Encryption
In cryptography, encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext.
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