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
Protocol
The set of rules in a network in which participating members comply to allow proper communication.
Soft Fork
A backward-compatible update to a decentralized blockchain protocol.
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
Trading Volume
The amount of the cryptocurrency that has been traded in the last 24 hours.
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