Decentralization

Decentralization refers to the distribution of power, authority, or control away from a central authority or entity to multiple nodes or participants within a network. In decentralized systems, decision-making and governance are distributed among various stakeholders rather than being concentrated in a single entity. This approach aims to enhance transparency, resilience, and autonomy while reducing the risk of single points of failure or manipulation. Examples of decentralized systems include blockchain networks, peer-to-peer file-sharing systems, and distributed autonomous organizations (DAOs).