you can't have a functioning currency if there is no agreed centralization.
Oh you can. I give you BCH for example as that is the crypto I'm most familiar with.
It has thousands of independent miners, half a dozen implementations and development teams, dozens of wallets and thousands of merchants worldwide.
how could one define exchange value?
The same way you would with any other commodity via bids and asks on the exchange of your choice.
Oh you can. I give you BCH for example as that is the crypto I'm most familiar with. It has thousands of independent miners, half a dozen implementations and development teams, dozens of wallets and thousands of merchants worldwide.
The same way you would with any other commodity via bids and asks on the exchange of your choice.