What is “Decentralized”?

The easiest way to understand what decentralized means is to first think of what “centralized“ means. What entails a centralized organization? Typically, a centralized organization has an owner, a CEO, a headquarters, a staff, perhaps a Human Resources Department to hire and fire employees, and paying customers who might ask questions like, “What is the manager’s name, and can I speak to him?” Your bank and credit card companies, for example, are centralized financial institutions. 

A decentralized entity, however, has none of the above. Cryptocurrency was originally conceived as an immutable, trustless, DECENTRALIZED form of currency that completely removes the need for any 3rd parties - or middlemen. Bitcoin was the first iteration of this technology to take hold.

Ironically, few cryptocurrencies today actually live up to this standard. Most aren’t complete, and some actually have offices with paid employees - or fully staffed foundations and dev teams funded by selling their coins on the open market (not exactly the intended purpose of a cryptocurrency).

HEX, however, fulfills all of the necessary requirements for being a fully decentralized cryptocurrency. There is no CEO, no employees, no central office, no overhead or venture capitalist loans to repay, no electricity or hardware bills to keep the lights on, or the protocol running. None of these things exist.

HEX is a smart contract - an immutable protocol that runs perfectly on its own without any need for a human being. In other words, there is nobody that “works” for you.

YOU do all the work by interacting with the protocol. YOU choose to become a MINER or not. YOU choose how long to mine. YOU choose to end your mining contract. And finally, YOU mint your mining rewards. And since its launch on December 2, 2019 HEX has performed flawlessly with 100% uptime - fully decentralized. The way crypto was originally meant to be.