What is a decentralized blockchain and how does it work?

A decentralized blockchain is a type of blockchain network where there is no central authority or intermediary controlling the network. Instead, the network is maintained by a distributed network of nodes, where each node stores a copy of the entire blockchain ledger.

In a decentralized blockchain network, transactions are verified and added to the blockchain through a consensus mechanism. This mechanism involves a group of nodes working together to validate and verify each transaction before it is added to the blockchain. Once a transaction is verified and added to the blockchain, it becomes a permanent part of the ledger and cannot be altered or deleted.

Decentralized blockchains offer several benefits over centralized systems, such as increased security, transparency, and trust. Because there is no central authority controlling the network, it is more difficult for hackers or malicious actors to compromise the system. Additionally, the transparent nature of the blockchain allows for greater visibility into transactions and reduces the potential for fraud or corruption. Overall, decentralized blockchains are seen as a more democratic and equitable way to maintain a secure and transparent ledger.