#BinanceAlphaAlert Decentralization (Decentralized System)
A system where control is not held by a single individual or organization, but distributed among multiple participants.
Example: Bitcoin is not run by any company or government - thousands of computers (nodes) around the world validate transactions together.
2. On-chain Transaction (On-chain Transaction)
A transaction that is recorded directly on a public blockchain, which cannot be altered once validated.
Example:
You send 1 ETH to a friend via the Ethereum network ➔ That transaction will permanently appear on the Ethereum blockchain.
People can check the transaction by accessing Etherscan.
3. Gas Fee (Transaction Fee)
The fee you have to pay to execute a transaction or run a smart contract on a blockchain.
Gas fees usually fluctuate depending on network congestion.
Example:
When you transfer 1 ETH from one wallet to another on the Ethereum network, you have to pay a small fee (~0.001 ETH or higher if the network is congested).
If interacting with complex smart contracts like minting NFTs or swapping DeFi, the gas fee will be higher.
4. Node (Network Node)
A node is a computer participating in the blockchain system, helping to store a copy of the blockchain and validate transactions.
Example:
A person can install Bitcoin Node software on their computer to participate in validating Bitcoin transactions.
Nodes help the decentralized network operate without a central server#btc #ETH $BTC $ETH
