What is Decentralization?
Decentralization
Nowadays, we consider the internet as one of our basic needs. In this modern era, can you imagine life without the internet? Pretty hard right? But have you ever asked yourself, what are those things that we are giving up in order for us to access the internet? Popular websites have proven that they will treat profit over protecting your privacy. They are ready to sell your personal data without even thinking twice.
However, there is a new concept of making things more accessible and worry-free, thanks to decentralization.
Decentralization is the process of distributing or dispersing functions, powers, people or things away from a central location or authority. On the other hand, Centralization is the counterpart of it, which is the common thing before decentralization starts to be established. Examples of centralizing entities are, Government, Banks, Internet service providers, and Etc
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A decentralized network differs greatly to form a centralized one instead of one server or party being put in charge of all the data. Decentralized networks operate on a peer to peer basis where the user’s computer communicate and interact directly. The concept of this also gives way to the Birth of the one of the greatest breakthrough of the technology nowadays, the BITCOIN and Cryptocurrencies which we will be discussing on the next video segment.
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