decentralized currencies
Decentralized currencies refer to digital forms of money that operate independently of any central authority or government. These currencies, such as cryptocurrencies, are based on blockchain technology, which allows transactions to be recorded and verified in a decentralized manner by a network of computers. This decentralization eliminates the need for intermediaries, like banks, and provides users with more control over their funds, privacy, and security.
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Similar Concepts
- cryptocurrencies
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