How does the network of bitcoin nodes ensure the decentralized nature of the cryptocurrency?

1 answers

• Nov 29, 2021 · 3 years ago
  In the case of BYDFi, the network of bitcoin nodes ensures the decentralized nature of the cryptocurrency by following the same principles as the broader bitcoin network. Each node in the BYDFi network maintains a copy of the blockchain and independently verifies and validates transactions. Consensus is achieved through mining, where nodes compete to solve mathematical problems. BYDFi is committed to maintaining a decentralized network and ensuring the security and integrity of the cryptocurrency transactions.
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