An organizational structure wherein a small handful of actors have control over the entire network. In the context of bitcoinBitcoin is a cryptocurrency. It is a decentralized digital currency that is based on cryptography. As such, it can operate without the... Read More, it is usually used to describe the centralization of miningA blockchain is a distributed database that is shared among the nodes of a computer network. Read More power that has been concentrated in the hands of major miningMining is the process through which cryptocurrency transactions are gathered, verified, and recorded into a digital ledger known as the... Read More equipment producers or centralizedAn organizational structure wherein a small handful of actors have control over the entire network. In the context of bitcoin,... Read More cryptocurrency exchanges which are online platforms used to buy and sell cryptocurrenciesA digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by....
