Meaning of "Decentralization"
A state or method in which a system operates autonomously through consensus among multiple participants who share the responsibility for its operation, without a central authority or controller.
"Blockchain services are based on decentralization, allowing users to verify transactions and participate in operations directly."
Related slang words
Hash rateA metric used in mining-based cryptocurrencies such as Bitcoin that represents the total hash-computing power performed by the network per second, expressed in terms of hashes per second (H/s, TH/s, etc.)Non-Fungible TokenAn abbreviation for "non-fungible token," it refers to a token that records and verifies the unique ownership (or rights) of a digital asset on the blockchain.Ripple ShorthandThis is a sarcastic remark referring to a situation where the price of Ripple (XRP) appeared to be rising but eventually returned to its original level; it’s a shorthand way of expressing reactions like “Did Ripple fool you again?”StakingThe act or system of staking (locking up) one’s own coins on a blockchain network to participate in its operation and earn rewards in returnThe Luna CrisisThis refers to a major collapse in which the price of the stablecoin Luna (LUNA) plummeted (by approximately 99%), triggering a cascade of massive losses and financial market instability.Rescue TeamA figure of speech describing a situation where investors recover their losses after a sharp price drop by capitalizing on a reboundMourning SongIt is a cry of anguish, like the screams or sighs people utter when faced with sudden loss or disaster.Junk coinA derogatory term for niche altcoins with low market capitalization and limited technical value that are highly volatile; it typically refers to speculative or low-quality coins