Let's know about Decentralize in brief
Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well. Today we will know briefly about Decentralize. To understand the issue of Decentralized, you need to know about Centralized first.
Centralized system is centralized. Suppose you are the head of an organization. Now whatever order you give all the members of your organization have to follow your order. It means it is centralized. But in decentralize it is not. In Decentralize, everyone's own opinion is given priority. Everyone has the same power. The worst part of the centralized system is that everyone has to agree to what the head wants, whether anyone agrees with it or not. And it gets many people into trouble, but in the decentralized system, everyone's decision. Everyone has to get along, depend on each other's decisions, everyone has equal power. Now let's discuss the important role of decentralize in crypto.
In Decentralized system the power is shared by everyone, thus it is secure. Transaction cost in Centralized system is high but in Decentralized system the cost is less and it is impossible to hack. If money is transacted through a centralized system, the entire control center is with the authority or head. However, if the transaction is done through a decentralized system, the control center is not with the authority or head. An example of decentralized is crypto exchange, in crypto exchange, third parties are not able to interfere in any way. And the transactions reach from the sender to the recipient very easily without any hassle, thus the decentralized system is the most profitable, popular, secure and safe from the centralized system. The reason behind the decentralized system being so popular is that it does not create any kind of trust issue. No, transactions are possible here without any third party hassles and cryptocurrency is so popular because of the Decentralize system.
Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
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Thank you for sharing a very nice article about decentralization
Decentralization is a very good system where there is no single dominance and where everyone has the same contribution and level it is often seen that things get done easily.