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I believe you're thinking of the ledger as a distributed ledger and applying 'centralized' as a description, which it is not. Bitcoin is a decentralized ledger.
by flignats 9y ago
I believe you're thinking of the ledger as a distributed ledger and applying 'centralized' as a description, which it is not. Bitcoin is a decentralized ledger.
- ucaetano 9y agoNo, it is a centralized ledger (there is only one unique, central ledger that can't be partitioned) which is processed in a peer to peer way. Compare this to actual currencies, that have millions (or even billions) of independent, parallel, distributed, ledgers. Or compare this to DNS. There isn't a single, unique, central DNS record, it is a system of distributed records across he entire internet.
- flignats 9y agoYou would benefit from broadening your understanding of centralized and decentralized as it applies to the blockchain and ledgers.