After having gone through the fundamentals of Bitcoin and blockchain in the previous chapter, let's now try to understand a little bit about decentralization. In this section, we are going to take a look at the following topics:
- How decentralization works
- What can be decentralized
- The impact of decentralization on the current and future world
- The pros and cons of decentralization
So, what is decentralization in the first place? Now that you have started to understand blockchain technology and its architecture, you should be hearing a lot about decentralization. It is one of the buzzwords used more frequently in the cryptocurrency space and is often considered as the sole purpose of blockchain technology. Decentralization sounds like it is the opposite of something that is centralized, but it is far more than that.