Decentralized refers to the organizational structure that doesn’t rely upon a single center of authority for decision-making. Decentralized consists of various entities partaking in enforcing rules and regulations distributed throughout the system.
Decentralized operates on various consensus mechanisms in order to execute a common goal. Some of the most prominent examples of decentralized systems include cryptocurrencies.
This allows a decentralized organization to be more robust and efficient as compared to its centralized counterparts. Furthermore, decentralized organizations can still remain operational even if several parts of them ceases to exist. Decentralized also takes a more democratic approach while being less prone to censorship.