Decentralization may be a concept difficult to grasp for a lot of people. It sounds technical, but, in the end, its importance is more political. This decision is about having only one leader or central party in charge of everything or distributing that power among numerous parties or an entire global community. Central banks, as the name suggests, have pretty central control over local money .
Most cryptocurrencies, on the other hand, were designed to be decentralized —which means, no central party in full control, limiting or freezing transactions for any reason. Decentralization Before the Bitcoin release, even if a private company were to build and share its virtual currency, it’d be tied to and supervised by their local regulations. They’d have to monitor the operations of their users, and, if ordered by authorities and governments, also block and freeze accounts.
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