Decentralized
By CoinGecko | Updated on Mar 03, 2020
Describes a system where there are no centralized points of failure (eg. a pillar that holds an entire structure up), or an organization that has no central authority figure. Bitcoin is an example of a decentralized system.
Related Terms
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
opML (Optimistic Machine Learning)
opML (Optimistic Machine Learning) employs an optimistic verification mechanism and is able to handle large-scale machine learning models with billions of parameters efficiently, using fraud proofs that verify the ML computation.
Ethereum Name Service (ENS)
Ethereum Name Service (ENS) is a look-up service that allows Ethereum users to find websites or send and receive funds via simple names.
ERC-20
ERC-20 is one of the most widely used token standards in Ethereum to create fungible, exchangeable tokens.
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