How are the cryptos de-centralized?

<p id="isPasted">Cryptocurrencies are decentralized through the use of blockchain technology and distributed networks, eliminating the need for a central authority to manage transactions or control the currency. This is achieved by recording all transactions on a public, distributed ledger (the blockchain) which is maintained by a network of computers (nodes).&nbsp;</p><p>Blockchain Technology:</p><p>Cryptocurrencies utilize a blockchain, a decentralized, distributed ledger that records all transactions across a network of computers.&nbsp;</p><p>Distributed Network:</p><p>Instead of relying on a central server, the blockchain is replicated and distributed across many computers (nodes).&nbsp;</p><p>No Central Authority:</p><p>This distributed nature means there is no single entity controlling the cryptocurrency, like a bank or government.&nbsp;</p><p>Consensus Mechanisms:</p><p>Transactions are verified and added to the blockchain through consensus mechanisms (like Proof-of-Work or Proof-of-Stake), which involve participation from the network's nodes.&nbsp;</p><p>Peer-to-Peer Transactions:</p><p>Users can transact directly with each other without intermediaries, like banks, thanks to the decentralized nature of the system.&nbsp;</p><p>Decentralized Finance (DeFi):</p><p>Decentralized finance (DeFi) takes this concept further by applying it to various financial services, such as lending, borrowing, and trading, all without intermediaries.&nbsp;</p><p>Decentralized Exchanges (DEXs):</p><p>DEXs allow users to trade cryptocurrencies directly with each other through smart contracts, eliminating the need for a centralized exchange.&nbsp;</p>