A decentralized economy is an economic system operating without a central authority, relying instead on distributed networks and peer-to-peer interactions. This model often uses blockchain technology to record transactions and enforce agreements. Participants maintain control over their assets and data, reducing reliance on intermediaries. Such an economy aims for greater transparency and resistance to censorship.
Context
The concept of a decentralized economy is central to the ethos of many blockchain projects and digital asset movements. It challenges traditional financial structures by promoting direct interactions and autonomous protocols. Discussions in crypto news often focus on the progress of decentralized finance (DeFi) and decentralized autonomous organizations (DAOs). Regulatory bodies are actively considering how to supervise these novel economic structures without impeding innovation.
The Sandbox introduces SANDChain, an Ethereum ZK-rollup, empowering creators with scalable monetization, ownership, and community management within its metaverse ecosystem.
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