Search result of POWER

Accountability definition refers to the systematic arrangements in blockchain networks that, through technical means and governance structures, ensure participants (including validator nodes, developers, token holders, etc.) are responsible for their decisions and actions. It encompasses elements of transparency measures, record-keeping, power distribution, incentive alignment, and penalty mechanisms designed to maintain network integrity and prevent abuse of power.

Centralization refers to an organizational structure where power, decision-making, and control are concentrated in a single entity or central point. In the cryptocurrency and blockchain domain, centralized systems are controlled by central authoritative bodies such as banks, governments, or specific organizations that have ultimate authority over system operations, rule-making, and transaction validation, standing in direct contrast to decentralization.

Decentralization is a fundamental characteristic of blockchain technology where no single entity has control over the system or network, with power, decision-making, and data validation distributed across multiple participating nodes. This structure eliminates the need for central authorities, making systems resistant to single points of failure, enhancing transparency and censorship resistance, while reducing manipulation risks.