@kikimania22 The idea of decentralized is kinda like Torrent. If you’re familiar with P2P, it’s pretty much the idea that not one group is managing, owning or benefiting the tech - but if everyone chips in to help; everyone is helping each other. (You can’t sue me alone, you’ll need to sue everyone if you think I’m doing wrong)
So in a non-technical way of explaining it, if I use my computer to download “Reddcoin Movie” - what I’m doing is downloading from the nearest to me (assuming someone in Singapore is actively downloading/uploading) and then once I download, I’ll upload as well - others in Malaysia will download much faster. Speed is one of the benefit.
Another benefit, Trust. We all want the same thing, so we take and give the same way - we aren’t depending on one person. Bitcoin is one great example where the idea of a digital number… is now exchanged for real FIAT currency. Who regulates and handles it? Everyone, the exchanges are simply providing the service to help the market cope with demand and supply. We drive the market - not the government, not the big corporations and so on.
I like that decentralized means somewhat transparency as well. Most currency are not able to be tracked, and there are fake bills. Cryptocurrency has the mechanism to ensure every transaction is correct and true. The blockchain logs down every transaction, so it is tracable - so that there isn’t any hanky panky. That being said, there’s all these anonymity by Darkcoin, Blackcoin, BitcoinDark and all the others having extra features in case you wanna hide your address (some security conscience fellas would) - personally, I prefer transparency - so that we could do away with corruption (I’m from Malaysia - need I say more?)
Anyhow, just letting you know what I learn about Cryptocurrency (& Torrent) “Decentralized” from experience.