Does it matter whether digital currencies are decentralized?

One question most people ask themselves about cryptocurrencies is whether it really matters that cryptocurrencies are decentralized. At the very basic core, a cryptocurrency is basically a fancy database. For example, Bitcoin is a huge database of what transactions are made between owners and who owns what. By its nature, this is a bit different from conventional banks, which are basically huge databases of what transactions people have been making, and who owns how much. The distinction with The new digital currency (العملاتالرقميةالجديدة) is that there is no central authority that runs the big cryptocurrency databases.


In reality, a bank can edit its huge database and change how much money the bank thinks you have in your account. A bank actually edits this amount from time to time. Sometimes changing how much money you own is to your advantage. In case your debt card is lost and used, for example, the bank will simply return all the money that has been withdrawn or used. In other cases, the changes a bank makes to your account are not good. For example, if you are suspected of money laundering, your account will be frozen and potentially cripple your activities. But according to Digital Currency News (اخبار العملات الرقمية) , it is impossible for anybody to make changes to your digital currency wallet.
With a digital currency (العملاتالرقمية) ¸ the authority on an entire cryptocurrency network is anything the majority of cryptocurrency users agree on. In practice, this means that only the basic network rules are enforced. But to be able to make these rules, you must own the cryptocurrency. You can own a cryptocurrency through mining or buying the digital currency through an exchange. By being decentralized, therefore, the cryptocurrency remains unregulated and only those that own the cryptocurrency have a say on what rules they should enforce.

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