Cryptocurrency Q&A
Who owns the blockchain?
Who owns the blockchain?
Filippo
Sun Aug 18 2024
|
6 answers
1124
I understand that blockchain technology is decentralized, but I'm still a bit confused about who exactly owns the blockchain. Could you explain the ownership structure of a blockchain network in more detail? Who controls the network and has the authority to make changes or updates to it? And what happens if there's a dispute about ownership or governance of the blockchain? I'd appreciate any clarification you can provide on these points.
6 answers
AzrilTaufani
Tue Aug 20 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the needs of users in the blockchain ecosystem. These services include spot trading, futures trading, and wallet services.
Was this helpful?
62
40
CryptoTitanGuard
Tue Aug 20 2024
The distributed nature of the network means that the ownership of the data is dispersed among the various participants who contribute to the blockchain's maintenance and operation.
Was this helpful?
243
91
Margherita
Tue Aug 20 2024
This distributed ownership structure fosters trust and transparency, as there is no single point of failure or control that could be compromised or manipulated.
Was this helpful?
158
26
amelia_martinez_engineer
Tue Aug 20 2024
The decentralized architecture also promotes resilience, as the network can continue to function even if some nodes are compromised or go offline.
Was this helpful?
253
22
DondaejiDelightfulCharmingSmile
Tue Aug 20 2024
Public blockchains, such as Ethereum and Bitcoin, are characterized by the absence of a sole proprietor of the data stored within them.
Was this helpful?
189
59
Load 5 more related questions
