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who controls bitcoin

who controls bitcoin

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  • Who controls the bitcoin blockchain?

  • Who Controls the Bitcoin Blockchain? Bitcoin miners control the Bitcoin blockchain, insofar as the health and security of the network depends on their activity. Miners are incentivized to contribute and act in the best interests of the network via rewards and transaction fees paid in Bitcoin.

  • Who are the stakeholders of bitcoin?

  • These stakeholders include programmers, miners, whales, and exchanges. So far any nefarious attacks on the network have been deflected. Very little stands in the way of further progress. Although Bitcoin has a creator, no single entity controls the world鈥檚 biggest cryptocurrency. There are, however, ways that one can influence the network.

  • How does the bitcoin network work?

  • The same goes for the Bitcoin network, except instead of 鈥渟everal smaller places,鈥?the control of the system is delegated to thousands of nodes – people who choose to run the Bitcoin software on their computers. No central authority makes decisions in regards to the Bitcoin network; instead, everyone gets to call the shots.

  • What is decentralized Bitcoin and how does it work?

  • By definition, decentralize means 鈥?to move the control of an organization or government from a single place to several smaller ones.鈥?The same goes for the Bitcoin network, except instead of 鈥渟everal smaller places,鈥?the control of the system is delegated to thousands of nodes – people who choose to run the Bitcoin software on their computers.

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