Glossary - ChicksX

Decentralisation is the distribution of authority across a network, reducing reliance on a central governing entity or middleman.

Decentralisation is the process of distributing control and decision-making power across a network rather than a single central authority. In the context of blockchain and cryptocurrencies, it ensures that no single entity or group can manipulate the system. This is achieved through a network of nodes or participants who validate and record transactions independently. Decentralisation enhances security, transparency, and trust, as the system becomes more resilient to censorship, fraud, or failure. By eliminating intermediaries, it also reduces costs and increases efficiency, empowering users with more control over their assets and data, fostering innovation and adoption in the digital economy.