Bitcoin is decentralized because it isn't controlled by any single entity like a government or corporation.
Network of Nodes
Bitcoin isn't managed by any one person or company.
Instead, it's run by a network of computers (called nodes) spread across the world.
These computers keep a record of all Bitcoin transactions.
Anyone can download free software to run their own Bitcoin node.
Running a node lets you easily verify the rules of the network are being followed.
Mining for Security
Bitcoin mining is done by computers to secure the network.
Miners use something called "proof of work" which means computers have to put in lots of effort to make Bitcoin and confirm transactions.
This is like digital hard work. And unlike regular money, there's a cap to the amount of Bitcoin that can ever exist.
This means it doesn't lose value like dollars because no one can cause inflation in the Bitcoin system.
This process secures the entire system and prevents fraudulent transactions.
Free and Open Source
Anyone can see and use Bitcoin's software for free.
This openness means that the system is transparent, and no hidden changes can be made.
Unchangeable Record
Once a transaction is recorded in the Bitcoin blockchain, it can't be altered or deleted.
This creates a permanent and trustworthy history of all transactions.
In essence, Bitcoin operates like a community network.
Many computers across the globe collaborate to confirm transactions, secure the system, and maintain a reliable record.
This collective approach ensures that Bitcoin remains independent and not under the control of any single entity.
Bitcoin is decentralized.
Bitcoin is better money.
