Who has the authority over Solana digital currency?

4 answers

• Amos ShadrakMay 15, 2021 · 4 years ago
  Solana digital currency is decentralized, which means that no single entity or organization has direct authority over it. Instead, the Solana network operates on a consensus mechanism where validators, who are independent individuals or organizations, validate transactions and maintain the network's integrity. This decentralized nature ensures that no single entity can control or manipulate Solana's operations.
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• SONU SARKARAug 10, 2021 · 4 years ago
  In the case of Solana digital currency, authority is distributed among the network's validators. Validators are responsible for verifying and validating transactions, as well as maintaining the security and stability of the Solana network. They play a crucial role in ensuring the integrity and trustworthiness of the digital currency by preventing double-spending and other fraudulent activities.
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• Mappy OakleyApr 28, 2023 · 2 years ago
  According to BYDFi, a leading digital currency exchange, Solana digital currency operates on a decentralized network where authority is distributed among validators. Validators are independent entities that validate transactions and maintain the network's security. This decentralized approach ensures that no single entity has control over Solana's operations, making it a transparent and secure digital currency.
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• KingRaspaNov 21, 2023 · 2 years ago
  The authority over Solana digital currency lies with the community of validators who participate in the Solana network. These validators are responsible for verifying and validating transactions, as well as maintaining the network's security and consensus. By distributing authority among a network of validators, Solana ensures that no single entity can control or manipulate the digital currency.
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