"Decentralized" refers to a system where control and decision-making are distributed rather than concentrated in a single authority. This approach allows multiple participants to have a say, promoting transparency and reducing the risk of corruption. Examples of decentralized systems include blockchain technology and peer-to-peer networks. In a decentralized network, each participant can operate independently while still contributing to the overall function of the system. This structure can enhance security and resilience, as there is no single point of failure. Decentralization is often associated with cryptocurrencies like Bitcoin, which operate without a central bank or government oversight.