What Is Decentralized Cryptocurrency (Decentralized Digital Currency)?
Decentralized cryptocurrency, also known as Digital Currency Electronic Payment
Decentralized cryptocurrency, also known as Digital Currency Electronic Payment (DCEP) or Non-Fungible Token (NFT), is a type of encrypted asset guaranteed by digital signature technology. Through distributed algorithms in blockchain, its public or private keys are divided into different parts, ensuring data immutability and transparency, and enabling both parties in a transaction to interact in a completely anonymous manner.
This non-sovereign currency can be managed through sharing with other systems without the involvement of any third parties or intermediaries. Decentralized DCEP not only protects users’ information from network attacks but also ensures the operation of the entire financial system. Therefore, DeFi applications utilizing this technology are continuously growing and developing.
Decentralized Cryptocurrency
According to Bitcoinist, decentralized cryptocurrency is an open-source blockchain managed entirely by the community. It allows anyone to easily create and deploy blockchain-based applications without relying on third parties or central authorities to manipulate its network value. This technology is mainly supported by public chains like Ethereum. However, this does not hinder developers from attempting to build a complete network application, running these software through smart contracts.
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