With normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the shots, a decentralized cryptocurrency network spread out control across many participants around the world. This is called a decentralized system.
In a decentralized cryptocurrency network no single entity is completely in charge of verifying transactions, storing data, or making decisions. Lots of different computers chip in to keep things running smoothly and transparently! This distributed approach means if one part of the network goes down, the rest keeps on trucking!
Decentralization makes cryptocurrencies really secure, censorship-resistant and hard to manipulate.