A decentralized structure does not Whatsapp number database to depend on a third party to function. Think of downloading via torrents. Or maybe you even remember Limewire? With these applications, a direct connection was established between the Whatsapp number database of both users, there was no third party involved. This is also known as peer-to-peer (or user-to-user ). Centralized vs Decentralized. With a central structure, you are dependent Whatsapp number database on a third party. Think, for example, of the banks in the Netherlands.
To make a transaction from Whatsapp number database person A to person B, cooperation with a Dutch bank is required. You are therefore dependent on a third party (for example ING or Rabobank) to realize such transactions. Now that you understand what these terms Whatsapp number database mean, it is important to know that Bitcoin is decentralized. Thus, network workloads (e.g. transactions) are spread Whatsapp number database across multiple machines without relying on a single central server. This is called 'decentralized'. This means that all machines together ensure that a transaction is Whatsapp number database approved.
So if 1 machine is hacked or fails, the transaction can continue without any (security) problems. This is also one of the reasons Bitcoin has never been hacked. Also read: How do you get started with Bitcoin and crypto trading? [4 basic steps] So you can actually see decentralization as an independent network in which no one is in charge. Transactions are traded peer-to-peer and the users check each other. 3. Blockchain Blockchain technology Whatsapp number database has been called the greatest invention after the internet, but what exactly is it? A blockchain is a type of database in which information can be stored. You can think of it as small blocks of information that are Whatsapp number database added to a long chain.