What does "decentralization" mean in the context of blockchain?

Decentralization in the context of blockchain refers to the distribution of control and decision-making power across a network of nodes, rather than being concentrated in a single central authority. This means that no single entity has complete control over the network, and decisions are made collectively by the participants in the network through a consensus mechanism. Decentralization is a key feature of blockchain technology, as it helps to increase transparency, security, and resilience of the network.

Decentralization in the context of blockchain refers to the distribution of power and authority across a network, rather than being concentrated in a single entity. In a decentralized blockchain system, data and processing are distributed among multiple nodes, rather than being controlled by a central authority. This distribution of power and authority helps to eliminate single points of failure, censorship resistance, and increased security and transparency. In a decentralized blockchain system, each node has a copy of the blockchain and they all agree on the current state of the blockchain. This makes it very difficult for any single node to manipulate the blockchain or to censor transactions.

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