Sentences with phrase «nodes by a central authority»
Not exact matches
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.
https://www.coindesk.com/
Since Bitcoin is a decentralized system that is not controlled by any central authority, whether or not such an upgrade is deployed and adopted by the network is determined by several key decision - makers that must agree to the change: Bitcoin developers, economic Bitcoin nodes, bitcoin - holding users, and bitcoin miners.