Very nice graphical representation!
quote author=nngella link=topic=4586040.msg41391984#msg41391984 date=1530578022]
Will it be then better, than any other existing currencies?
I think this defies the definition of blockchain. If bitcoin becomes centralized, then it is not a blockchain anymore but more like a bank.
I think you need to read more about how blockchain works. The information below might be helpful to you:
What is Blockchain?- It is like a database duplicated thousand of times across a network of computers, in which the network of computers have access to the database at the same time to regularly update the said database;
- Information are shared (and continually reconciled) throughout the whole network; and
- Data are accessible to anyone - no centralized version exists for hacker to target to corrupt.
How Blockchain Works?I think it is wonderfully shown on the picture below:
https://i.imgur.com/WzhT2Bk.pngSource [/quote]
