One of the most fundamental problems in large-scale network analysis is to determine the importance of a particular node in a network. Betweenness centrality is the most widely used metric to measure the importance of a node in a network. In this paper, we present a randomized parallel algorithm and an algebraic method for computing betweenness centrality of all nodes in a network. We prove that any path-comparison based algorithm cannot compute betweenness in less than O(nm) time.