Decentralization

A system architecture where authority and control are distributed among multiple entities rather than concentrated in a single entity. In blockchain networks, this means the network is transparent and fully automated, decision-making power is shared across the network’s participants (i.e., nodes), users self-custody assets, and no entity or group of entities under common control has the ability to unilaterally exclude, block, or approve persons or entities from using or modifying the network, participating in consensus mechanisms, building software that provides access to the network, or otherwise interacting with the network, its underlying technology, or the associated digital asset.