Decentralized Definition

A decentralized system is one in which the components are independent and self-governing. The term is often used in reference to networks, where each node can act independently without needing to consult a centralized authority. In a decentralized network, there is no single point of failure and the system as a whole is more resilient.

Decentralization can be applied to many different types of systems, including economies, organizations, and even societies. For example, a decentralized economy would be one in which there is no central government or authority controlling the money supply or making economic decisions. Instead, the power would be distributed among individuals, businesses, and other institutions.