Blockchain Decentralization

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Decentralization - The Essence Of Blockchain

• www.bitdeal.net

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Introduction

• Blockchain technology is a massive technology
  that introduces the concept of Decentralization
  to the digita globe. It is proven that
  decentralization is the essence of blockchain
  technology.
• Most of the experts says that blockchain
  technology finds application in many industries
  because of its decentralized nature.
• Here let us discuss something interesting about
  the decentralization of blockchain technology.

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Concept
of Decentralization

• When designing bitcoin, Nakamoto used the
  consensus mechanism between nodes. This is a
  non-trust mechanism, to prevent problems
  generated by a centralized network.
• When the number of nodes that confirm a
  transaction is higher , the risk of a multiple
  payment problem becomes smaller.
• Blockchain is a combination of mechanisms, which
  includes asymmetric encryption, point-to-point
  network communication, blockchain data structures
  and so on.

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Gambling - Created a birth of Decentralization

• In the world of bitcoin, there is a continuous
  dynamic gambling between users , miners,nodes or
  developers of a blocks.
• Most of all bitcoin blockchain uses PoW ( Proof
  of Work ) consensus algorithm to mine a block and
  maintain and record transactions.By having an
  open source community, it becomes to monitor the
  work of developers or nodes. Setting up a
  transaction fee submission function, provides the
  users more efficient way to use the bitcoin.

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Open Source Nature

• Blockchain as a decentralized, non-trust,
  game-based system, it should be applied in open
  source system applications.
• The true beauty of blockchain technology lies in
  decentralization, which is an open source data
  storage and processing ability thats based on a
  consensus mechanism.

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Decentralization Makes Blockchain Visible All
through Globe

• The soul of blockchain is decentralization, also
  called liberalism or Austrian economics. It is
  indeed exciting, for it has the potential to
  subvert the existing system and innovate.
• Decentralization of Blockchain encourages
  everyone to boldly explore new areas, use
  theories to guide practice and make
  breakthroughs, to lay a solid foundation for the
  rapid development and progress of blockchain
  technology.

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Bitdeal - Blockchain Development Company

• Bitdeal consists of Blockchain Experts of more
  than 5 years of experience in blockchain
  field.They continuously invest their knowledge
  and time in understanding the concept of
  decentralization of blockchain technology.
• They have happy clients over the globe and
  completed many blockchain related projects with a
  great success.
• Get in touch with Bitdeal's Blockchain experts to
  explore more about Blockchain Technology !!

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Contact

• Whatsapp [phone]
• Skype livebitzbillo
• Email sales_at_bitdeal.net
• Website www.bitdeal.net