Bitcoin's decentralization is a key feature that sets it apart from traditional currencies from "summary" of The Bitcoin Standard by Saifedean Ammous
Bitcoin's decentralized nature is a fundamental aspect that distinguishes it from traditional currencies. This decentralization means that there is no central authority controlling the supply of Bitcoin or overseeing its transactions. Instead, the network operates on a peer-to-peer basis, with transactions being verified by a network of computers known as miners. These miners compete to solve complex mathematical puzzles in order to add new transactions to the blockchain, the public ledger that records all Bitcoin transactions. By removing the need for a central authority, Bitcoin eliminates the risk of government manipulation or interference in the currency. This is in stark contrast to traditional currencies, which are often subject to the whims of central banks and government policies. With Bitcoin, the rules are set in the...
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