Distributed computing in cryptocurrency refers to the process of utilizing multiple computers connected to a network to perform complex tasks related to verifying transactions and maintaining the blockchain. Each computer, also known as a node, in the network is responsible for processing a portion of the work, which helps in achieving consensus in a decentralized manner.
By distributing the workload among multiple nodes, the network is able to operate efficiently and securely without the need for a central authority overseeing the process. This decentralization ensures that no single entity has control over the entire network, making it resistant to censorship and manipulation.
Each node in the network maintains a copy of the entire blockchain, which is constantly updated with new transactions as they occur. This redundancy helps in ensuring the integrity of the data and prevents any single point of failure.
Overall, distributed computing plays a crucial role in the functioning of cryptocurrencies by enabling peer-to-peer transactions to be executed securely and transparently without the need for intermediaries.
