Topic: Decentralized vs Centralized cryptocurrency (Read 183 times)
Cryptocurrency getting value only because of its underlying technology Blockchain which is decentralized ledger keeping and if it is centralized then it will not be having any value to create.
Decentralized means it has no limit. It can be useful in everywhere in the world where has internet & computer. Other side centralized means it has limit and you can just use it in its border. But people like most decentralozed most...
What is the difference between a Decentralized and a Centralized Cryptocurrency?
There is one single big difference between the two and that is instead of there being a single authority in charge of the whole system or network which is the centralized, decentralized means that everyone is part of the systems and therefore not subject to a single individuals authority.What is the difference between a Decentralized and a Centralized Cryptocurrency?
Centralized cryptocurrency is controlled by its company or people that develop/created it, the best example here is Ripple, the supply of this coin is distributed by its creators and of course they hold huge percentage of total supply of that coin while a decentralized cryptocurrency is a peer to peer network and is not controlled by any entity, company, governement or any group of people and the supply can be obtained by mining it. Bitcoin is decentralized cryptocurrency and no one controls it even its creator, and people that uses it can run a node if they want to. 
What is the difference between a Decentralized and a Centralized Cryptocurrency?
Bitcoin has no centralization, of course any personal, institutional, or agency that functions as a controlling center in full. Creation of new Bitcoin units can be done by anyone, open to everyone. And that is precisely what will keep the integrity of the Bitcoin system running.
Blockchain is not necessary for banks, it is needed instead of banks. It is only needed for decentralized systems, while applications with a trusted party will always be more efficient, simple, etc. It is decentralization that is the only real reason for using blockade.
Existing and emerging block system systems are moving in the direction of even greater centralization, which inevitably leads to massive disappointment in the technology of Blockchain, since it is not required for centralized solutions. Most centralization risks can be eliminated if convenient and decentralized complete nodes, wallets and block reviewers .
Existing and emerging block system systems are moving in the direction of even greater centralization, which inevitably leads to massive disappointment in the technology of Blockchain, since it is not required for centralized solutions. Most centralization risks can be eliminated if convenient and decentralized complete nodes, wallets and block reviewers .
Centralized cryptocurrency is currency that is regulated by one center and that center determine supply and all of thing about this currency
Decentralized cryptocurrency is like Bitcoin is regulated by the opinion of majority of the community and any one if he has a solution for any protocol problem
he can suggest the solution and if it is good we can apply it ; Also , the same with regulations and supply is predetermined and miners try to solve blocks
Decentralized cryptocurrency is like Bitcoin is regulated by the opinion of majority of the community and any one if he has a solution for any protocol problem
he can suggest the solution and if it is good we can apply it ; Also , the same with regulations and supply is predetermined and miners try to solve blocks
Thanks for your definitive responses. Looking forward to know more about these altcoins with you.
What is the difference between a Decentralized and a Centralized Cryptocurrency?
short answer: decentralized like bitcoin, centralized is like fiat.
a decentralized cryptocurrency is a currency that first of all had a fair distribution not any premine, no secret or public funds for the developers, and secondly it is not controlled by one person or a group of people. it also consists of users (usually nodes or miners) that are affecting the network and their opinion matters.
a centralized cryptocurrency usually has a premine, or some sort of ICO or funds for the developer to control the coins with, the control over the future of the coin and decisions are 100% on that one person or group that is controlling it. they can flip a switch and fork it to anything they like (example ethereum forks) and even nodes are run by centralized entities to have a bigger control over the network.
There are so many differences, starting with the name itself))
But it's more efficient now to work decentralized!
Since this is more efficient
And you can just see the difference on the Internet
But it's more efficient now to work decentralized!
Since this is more efficient
And you can just see the difference on the Internet
What is the difference between a Decentralized and a Centralized Cryptocurrency?
There is one single big difference between the two and that is instead of there being a single authority in charge of the whole system or network which is the centralized, decentralized means that everyone is part of the systems and therefore not subject to a single individuals authority.Every man/node for himself does not create good network conditions and the full nodes need to
be organised into groups and have a structure but that does not mean that the coordinators can
steel coins or bring the system down.
Think more like DNS servers in a star type network setup acting as coordinators
for the full nodes so that the massive 200gb block chain can be divided up into
more manageable sizes.
From the word go the Bitcoin network was never going to scale AND THEY KNEW IT
and we could manage without creating CPU Miner wars and Pow in the past and most of
the new coins today that are not clones manage it too so hopefully the penny will drop
for you when you see the current mess we have today.
Problem-Reaction-Solution
What is the difference between a Decentralized and a Centralized Cryptocurrency?
There is one single big difference between the two and that is instead of there being a single authority in charge of the whole system or network which is the centralized, decentralized means that everyone is part of the systems and therefore not subject to a single individuals authority. Decentralized currency is permissionless based system that doesn't need approval of any central authority or any type of authority for that matter. No country in world can claim ownership of it. While centralized cryptocurrency is simply a farce.
Please don't let the Lightning Network team hear you speaking like this because the hubs in the network
are centralized but a better name for the hubs is banks
centralized does not mean jumping into bed with the bankers and it's now as black and white as
many people think but what is a farce is the Bitcoin development team doing nothing about the
$25 mining fees or having 20,000 miner like we have now just to process seven transactions a
second
What is the difference between a Decentralized and a Centralized Cryptocurrency?
Decentralised cryptocurrency is no one should control the currency. It will automatically enhance in the market. It depends on the market capitalisation and investors. This is anytime raise or fall is possible in the market.Centralised cryptocurrency is control and monitor in superior person. It is not automatically enhance in the market. Company should validate in some critical time of crypto market. So it will not fall in suddenly in the market and also it will not raise in suddenly in the market. Everything should be controlled in the company.
In my opinion, a centralized currency is subject to many levels of regulations within the currency system while a decentralized currency is regulation free.
Decentralized currency is permissionless based system that doesn't need approval of any central authority or any type of authority for that matter. No country in world can claim ownership of it. While centralized cryptocurrency is simply a farce.
Decentralized crypto currency is a currency that does not have a single center. The most common among them is Bitcoin. Most of the cryptos doesn`t have centralized administration. The stability of the system is based solely on the mathematical calculation. Mining of centralized crypto currencies is done by one company, not an abstract community. The company is responsible for all processes. An example of a centralized crypto currency is OneCoin.
What is the difference between a Decentralized and a Centralized Cryptocurrency?
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