Blockchain

Centralized network (group of nodes linked to central node) juxtaposed with decentralized network (group of interlinked nodes)

Centralized vs decentralized networks

The words ‘centralized’ and ‘decentralized’ are thrown around a lot in the cryptocurrency world. That’s because blockchain technology is generally decentralized — blockchains were created as a viable alternative to centralized networks. But what do ‘centralized’ and ‘decentralized’ mean, exactly? The difference: Power and control Any system or network is either centralized or decentralized, depending …

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Blockchain (chain of linked green cubes representing the blockcain)

What is blockchain?

The blockchain is a distributed ledger of transactions secured with cryptography, usually maintained by decentralised networks of nodes, masternodes or service nodes. Blockchains are designed to provide consumers with an effective way to facilitate immutable and transparent data transfers. While people had previously attempted cryptographically linked digital data transfers, this ambitious goal wasn’t fully achieved …

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