Definition ∞ A decentralized ownership model distributes control and rights over an asset or system among multiple participants rather than vesting it in a single central authority. This model typically leverages blockchain technology to record ownership transparently and immutably, often through tokens. Participants can exercise their rights, such as voting or revenue sharing, directly through protocol rules. It promotes transparency and reduces single points of failure.
Context ∞ This model is a core tenet of many digital assets and Web3 projects, frequently discussed in crypto news concerning governance tokens, DAOs, and NFTs. Debates focus on the practicalities of achieving true decentralization, the effectiveness of community governance, and regulatory responses to distributed control structures. Its relevance grows as more traditional assets are tokenized, raising questions about legal frameworks for distributed property rights.
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