What's Decentralization?

Take your bank, they are a centralized organisation. If the bank goes out of business, you no longer have access to your money, you have no way of viewing the transaction data.

 

A decentralized system means there is no single person or authority that has control.

This is where the peer-to-peer network comes in.

 

Each computer on the network is owned by individuals. Each computer running a node for NibbleClassic carries the blockchain - which is the transaction data.

 

If one of these computers went offline, the transaction data would still exist and be accessible because there are other computers on the network ran by other individuals.

The more people that join the network and run a node, the better.

What can I do with my cryptocurrency?

In terms of a use cases for any cryptocurrency, it's still in the early stages of implementation.

 

A lot of the transactions are done via a cryptocurrency exchange - a crypto equivalent of the stock market.

 

You may find it difficult to spend your cryptocurrency at the local shop, or in the local town, or even many places online.

 

That's until now...

 

The NibbleClassic project is designed to make things simple, so we set up an online shop where you can actually buy products you can use!

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