Centralized
By CoinGecko | Updated on Mar 03, 2020
An organization structure wherein a small handful of actors have control over the entire network. In the context of Bitcoin, it is usually used to describe the centralization of mining power that has been concentrated in the hands of major mining equipment producers.
Related Terms
Side Chain
A separate blockchain ledger that runs parallel with the primary blockchain.
Gas Limit
A term refers to the maximum amount of units of gas user's willingness to spend on a transaction on Ethereum blockchain.
Dusting Attack
A new form of malicious activity in which hackers and scammers attempt to undermine the privacy of cryptocurrency users by sending little amounts of money to their wallets.
Blockchain
In Bitcoin's case, blockchain describes its decentralized, public ledger which contains transactional information.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.