What is the concept of decentralization in digital currency

1. The core difference between centralization and decentralization is whether the private key is in the hands of the user. The decentralized platform can protect the user, such as celletf (celletf. IO), which solves the security problem of the user's assets, but the operation is relatively simple.

2. For example, I borrow money from you in a village. Normally, if I am afraid that you will not repay the money, I can find an intermediary recognized by everyone, such as the village head as the guarantor, and sign an IOU. In this way, if you default at that time, I can find an intermediary to prove that you really owe me money, But there are two problems: 1. What if the village head finds out that his long lost son colludes with him to cheat you on money? 2. What if the middleman dies on the spot the next day! This is about trust and security. If the method of blockchain is to provide you with the certificate of the whole village (distributed), so that everyone knows about it and the other party can't default on it. Second, even if a small number of people or village heads deny (some nodes commit crimes) that they have lost the IOU or tampered with the content, there will still be others to make the basis

above, explain the two problems of building owners: 1. Decentralization, because the account book records are not centralized in the hands of each participant, and you will get paid if you save and keep accounts. 2. Since I can get rewards by saving and keeping accounts, can I just keep accounts instead of storing them? If you have a mining pool, you can keep accounts for it and store it for you. In this way, you can still get good rewards. There are only a few mining pools in the world, so they are centralized

3. Centralized wallet, also known as off Chain Wallet, completely depends on the company and server running the wallet. bitcoin stored in the exchange is stored in the centralized wallet (off Chain Wallet). The private key is not owned by the user, but in the wallet project side of the centralized server hosting chain, the fund is usually entrusted to the server
private keys and assets are transferred to the wallet for centralized management. Users don't need to worry about the loss of the private key of this kind of wallet procts, resulting in the loss of funds; However, the capital risk will be more concentrated in the wallet project side and server side. When the centralized wallet is conquered by hackers, users will suffer unnecessary losses
decentralized wallets, commonly known as onchain wallets, have private keys maintained by users and assets stored in blockchains
decentralized wallets are often referred to as onchain wallets. The private key is handed over to the user. If the private key is lost, the wallet will not be able to help the user recover, and the funds will be lost forever. But the decentralized wallet is difficult to be attacked by hackers, and users don't have to worry about the self stealing of the wallet service provider
centralized wallets are where assets are stored, while decentralized wallets are where private keys are stored
except for the exchange, it is not recommended to use the centralized wallet, although losing the private key may help you find it. But there is always a risk that the company will run
a decentralized wallet is equivalent to a channel, a channel where you can master mnemonics to control your assets on the blockchain. For a decentralized wallet, the most important thing is to protect the security of the [private key]
the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.

4. Centralized wallet, also known as off Chain Wallet, completely depends on the company and server running the wallet. Bitcoin stored in the exchange is stored in the centralized wallet (off Chain Wallet). The private key is not owned by the user, but in the wallet project side of the centralized server hosting chain, the fund is usually entrusted to the server
private keys and assets are transferred to the wallet for centralized management. Users don't need to worry about the loss of the private key of this kind of wallet procts, resulting in the loss of funds; However, the capital risk will be more concentrated in the wallet project side and server side. When the centralized wallet is conquered by hackers, users will suffer unnecessary losses
decentralized wallets, commonly known as onchain wallets, have private keys maintained by users and assets stored in blockchains
decentralized wallets are often referred to as onchain wallets. The private key is handed over to the user. If the private key is lost, the wallet will not be able to help the user recover, and the funds will be lost forever. But the decentralized wallet is difficult to be attacked by hackers, and users don't have to worry about the self stealing of the wallet service provider
centralized wallets are where assets are stored, while decentralized wallets are where private keys are stored
except for the exchange, it is not recommended to use the centralized wallet, although losing the private key may help you find it. But there is always a risk that the company will run

a decentralized wallet is equivalent to a channel, a channel to control its own assets on the blockchain by mastering mnemonics. For a decentralized wallet, the most important thing is to protect the security of the [private key]

the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.

5. That is, no one can control, not be controlled by the living center of a living group. Therefore, it can not be used as legal tender recognized by the state. There are a group of money speculators who argue that virtual currency will replace paper money every day. It's all bullshit. We must pay attention to investment risks. Now there are many pyramid schemes with virtual digital currency gimmicks to cheat money

6. Chongqing jinwowo network: decentralization, which is different from the traditional way of centralization. There is no center, or everyone is the center; Distributed ledger database means that the recording method is not only to store the ledger data in each node, but also to share and the data of the whole ledger synchronously. At the same time, blockchain also has the characteristics of disintermediation and information transparency.

7. Decentralizing is not to do without the center, but to let the nodes freely choose and decide the center. In short, centralization means that the center determines the node. The node must depend on the center, and the node cannot survive without the center. In a decentralized system, anyone is a node, and anyone can be a center. Any center is not permanent, but phased, and no center is mandatory for nodes. At present, many projects are being decentralized. GSN social bank is also decentralized. However, GSN reces the cost of credit investigation and enables unlimited use and sharing of trust data. GSN can greatly rece the false problem of massive data, so that data collection, processing and use can have better convenience. GSN expands the coverage of credit evaluation, expands the scale of the community, and uses distributed technology to collect data and information of user groups that can not be considered in the traditional mode through surveys. At the same time, GSN can carry out credit evaluation for special groups, that is, those who have no registered bank accounts but can contact with the Internet, so as to expand the scope of credit proct services. GSN reces the cost of credit proct management, so that credit evaluation, pricing, contracts can be automatically executed and managed without additional human participation, which greatly reces the cost of credit proct management, and greatly improves the scale of bank credit business processing. GSN improves the ability of credit to create value. Through the trust mechanism in the chain, the whole process of credit procts can have the ability of dynamic programming, which effectively expands the space of credit procts to create value.

8. HNB community set up a GMH, the policy and decision were voted by decentralized participants, executed by smart contract, without human intervention. Major issues shall be discussed and voted by the general meeting of all community members. The full-time boards (development board, reserve board and arbitration board) authorized by GMH perform their respective ties. It effectively protects the rights and interests of all.

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