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Decentralization: Difference between revisions
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|title= | |title= Decentralization — Decimal Wiki | ||
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|keywords= Decentralization | |keywords= Decentralization | ||
|description= Decentralization | |description= Decentralization | ||
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'''Decentralization''' is the process of redistribution, dispersion of functions, responsibilities, forces, power, responsibility of people or things from a central location or governing body. | '''Decentralization''' is the process of redistribution, dispersion of functions, responsibilities, forces, power, responsibility of people or things from a central location or governing body. | ||
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In computer science (more precisely, the theory of data transmission), decentralization is understood as creating such conditions that there is no need for a server and network participants have the same rights. | In computer science (more precisely, the theory of data transmission), decentralization is understood as creating such conditions that there is no need for a server and network participants have the same rights. | ||
== How the decentralization is used in the blockchain == | |||
Decentralization is a key concept in [[blockchain]] technology. It refers to the distribution of power and control across a [[network]] of computers or [[node]]s, rather than being concentrated in a central authority. Here's how decentralization is used in blockchain: | |||
* '''Distributed Ledger.''' Blockchain uses a distributed ledger, which is a decentralized [[database]] that records all [[transaction]]s across multiple nodes. Each node maintains a copy of the entire blockchain, ensuring that no single entity has control over the data. | |||
* '''Consensus Mechanisms.''' Blockchain networks use [[consensus algorithm|consensus mechanisms]] to [[validation|validate]] and agree upon the state of the blockchain. These mechanisms, such as [[PoW|Proof of Work (PoW)]] or [[PoS|Proof of Stake (PoS)]], involve multiple participants in the network verifying transactions and agreeing on the next block to be added. Decentralization ensures that no single entity can manipulate the [[consensus]] process. | |||
* '''Trust and Security.''' Decentralization enhances the trust and security of blockchain networks. Since no single entity has control over the network, it becomes extremely difficult for hackers or malicious actors to manipulate or corrupt the data. The decentralized nature of blockchain ensures transparency and immutability of the recorded transactions. | |||
* '''Elimination of Intermediaries.''' Decentralization enables [[peer-to-peer]] transactions without the need for intermediaries like banks or payment processors. This reduces costs, increases efficiency, and eliminates the need to trust third parties. Users can directly transact with each other, facilitated by [[smart contract|smart contracts]] or programmable logic embedded in the blockchain. | |||
* '''Community Governance.''' In decentralized blockchains, decision-making and governance are often carried out by the [[community]] of participants. Major decisions, such as protocol upgrades or changes, are made through consensus among network participants. This ensures that no single entity or authority has unilateral control over the blockchain. | |||
Overall, decentralization in blockchain technology promotes transparency, security, and trust, while empowering individuals by giving them more control over their assets and data. | |||
[[Category:Commoninfo]] | |||
[[Category:Blockchain]] | |||