Sentences with phrase «governed by any central authority»
BITCOIN: A digital, or crypto, currency that enables payment in a decentralized peer - to - peer (P2P) network not governed by any central authority or middleman.
https://www.reuters.com/ Not exact matches
Bitcoins are managed by peer - to - peer (p2p) technology without any central authority governing them.
The Union shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of any Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project.
To be sure, bitcoin is hot, but its bigger importance is what it represents: An emerging alternative to central - bank - issued currencies, governed not by a centralized authority but by a combination of math, consensus and clever code.
There is no central governing authority; instead, decisions are made by consensus based on miners (or nodes) signaling their approval for proposals, based on predetermined thresholds for passage that are embedded in the code.
Traditional money — be it the pound sterling, the U.S. dollar, or the Chinese renminbi — is governed by a central bank, a central authority.
An ICO sells participation in an economy, project or decentralized autonomous organization (DAO, which is an organization that is governed by smart contracts and has no central authority).