An organizational structure wherein a small handful of actors have control over the entire network. Centralized in the context of bitcoinBitcoin is a cryptocurrency. It operates without the need for a central authority like a central bank or a company,... Read More refers to the concentration of miningMining verifies and records cryptocurrency transactions on a digital ledger (blockchain). The approval or verification process for adding new transactions... Read More power to a few large mining equipment producers or centralized cryptocurrencyCryptocurrency is decentralized digital currency secured by cryptography. Cryptocurrency utilizes cryptographic protocols to record ownership and prevent counterfeits (when ownership... Read More exchanges.
