Decentralization is the transfer of control and decision-making from a centralized entity (an individual or organization) to a distributed network, reducing the level of trust that users must place in each other.
Unlike a public blockchain where anyone can download the software, form a node and view the ledger, private blockchains are permissioned-based and are run and operated by a trusted intermediary or a consortium of participating entities.
Decentralization is the transfer of control and decision-making from a centralized entity (an individual or organization) to a distributed network, reducing the level of trust that users must place in each other.
Decentralization is the transfer of control and decision-making from a centralized entity (an individual or organization) to a distributed network, reducing the level of trust that users must place in each other.
Unlike a public blockchain where anyone can download the software, form a node and view the ledger, private blockchains are permissioned-based and are run and operated by a trusted intermediary or a consortium of participating entities.
Decentralization is the transfer of control and decision-making from a centralized entity (an individual or organization) to a distributed network, reducing the level of trust that users must place in each other.
Blockchain’s distributed ledger technology means it has no single source of truth and a single user cannot change the record of transactions. All transactions on the blockchain are validated via a consensus mechanism, ensuring each transaction is true and correct.
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