DeutschWhat is Decentralization?
The process of digitization also plays a central role, but not only in crypto systems. It is about the distribution of powers and responsibilities to different bodies, which are decentralized. A counter-example of a decentralized system is the traditional system of fiat currencies. Here, the responsibility lies solely with central banks and reserve banks.
It is important to note that a crypto protocol can only run decentrally to a certain extent. Completely decentralized protocols do not yet exist, although Bitcoin is actually particularly decentralized. Blockchains that rely on the Proof-of-Stake instead of the Proof-of-Work algorithm are generally less decentralized.
