Intro to FinTech
Decentralization refers to the distribution of authority, control, and decision-making away from a central authority to multiple smaller entities or nodes. In the context of cryptocurrencies, it ensures that no single entity has control over the entire network, promoting transparency, security, and resistance to censorship. This feature is crucial for enabling trustless transactions and fostering innovation in various applications, including digital assets and token economies.
congrats on reading the definition of Decentralization. now let's actually learn it.