Sentences with phrase «managed by a central authority»
Unlike traditional currencies, bitcoins are not managed by a central authority and exist only in cyberspace.
http://money.cnn.com/
Because the Bitcoin code is not managed by a central authority, changes to the code require buy - in from developers and miners.
[4] Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.
Like many other cryptocurrencies, it provides a peer - to - peer transaction system that is not managed by any central authority.
It is a digital currency that was designed to act as an alternative to traditional money which is created and managed by a central authority.
The creation of the coin is based on the open source cryptographic protocol and thus it is not managed by any central authority.
This coin is not managed by any central authority and its technical details are nearly same as Bitcoin (BTC).
Not exact matches
It is kept by a distributed network of computers managed by many people, rather than one central authority.
However, rather than rely on a central monetary authority to monitor, verify and approve transactions, and manage the money supply, Bitcoin is underwritten by a peer - to - peer network akin to file - sharing services like BitTorrent.
If that sounds similar to how Bitcoin bills itself — as a cryptocurrency that «uses peer - to - peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network,» — you're on the money.
It has no central authority, so managing transactions and issuing money are carried out collectively by the P2P network.
«Bitcoin uses peer - to - peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.
Bitcoins are managed by peer - to - peer (p2p) technology without any central authority governing them.
An education freedom act would take educational decision - making firmly away from the politicians and into the hands of local authorities, while sponsor - managed schools would replace Labour's academies, to be commissioned by local authorities rather than central government.
«In Canada, the Indian Act is the central tool by which the federal government rendered itself the authority, under s. 91 (24), to completely manage the affairs of Indians, thus making hundreds of thousands of Aboriginal people wards of the federal state.»
Law enforcement is profoundly more centralized in the U.K. than it is in the United States where the vast majority of law enforcement resources managed by locally elected municipal, township, town and county governments independent of central authorities with only minimal coordination and little uniformity.
«Bitcoin uses peer - to - peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.
Speaking at a banking industry event in Singapore today, Ravi Menon — managing director of the Monetary Authority of Singapore (MAS), Singapore's central bank, said he hoped blockchain technology would not be «undermined» by a tumbling of the cryptocurrency ecosystem once the hype is eroded.
With a decentralized identity system, a person could manage his or her entire online identity without the worry of it being censored or abused in any way by a central authority.