Contest Alert 📢: S4B Crypto Contest - Season 3
How are you guys? I hope you all are fine by the grace of Allah Almighty who is the most merciful and beneficent I'm fine too Alhamdulilah. Today I will share my participation in the contest organized by @waqarahmadshah in the steem4bloggers community
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Contest Alert 📢: S4B Crypto Contest - Season 3
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The meaning of cryptocurrency to be decentralized is that the network is not anyone's control.The meaning of decentralization of the cryptocurrency is that it is not under control of a single authority. It is operated on a network called Blockchain. The network is maintained by different users who take part in the recording transection. In this way the decentralization make the cryptocurrencies more transparent.
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The crypto miners has significant role in the decentralization of the cryptocurrencies. They play important role in the verification of the transection on the network. in those cases for proof work, different cryptocurrencies such as Bitcoin, the miners use their power for the solution of problems which are methematical. In this way, this will provide security to the network. The prominent proof staking cryptocurrencies are the validators. There is certain amount of cryptocurrency, they will be chose for the validation of the transection. This is for the confirmation of the validity of the transection.The miners and validators paly important role in the decentralization of the cryptocurrencies because they ensure the security of network. The validation is also beneficial in the maintenance of the transparency.
It's a key principle in the cryptocurrency as it has many benefits. The decentralization shows that there is no authority which has complete control over network. This means that it provides security. Another benefit is that the decentralization helpful to promote transparency. It is beneficial to encourage the innovation. The decentralization is open to everyone with the availability of network without that interest whether she or he is located where.
I invite my friends
@suboohi
@sahar78
@aviral123
Walaikum assalam dear! Very beautiful startup of your post. I really like it. You share with us knowledge about cryptocurrencies decentralization. Your post is Very informative.
I visited your account and check your posts. Your all posts are really good. Keep it up dear. Best wishes for the contest.🥰🥰