Decentralization is a core principle of blockchain from "summary" of Blockchain Revolution by Don Tapscott,Alex Tapscott
Decentralization is a core principle of blockchain. This concept is fundamental to understanding the transformative potential of this technology. In the traditional systems we rely on today, power is centralized in the hands of a few. This concentration of power can lead to inefficiencies, vulnerabilities, and inequalities. Blockchain, on the other hand, distributes power across a network of participants. This network operates on a consensus mechanism, where decisions are made collectively and transparently. By removing intermediaries and empowering individuals, blockchain enables trust to be established in a peer-to-peer manner. This trust is built on cryptographic algorithms and distri...
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