Crypto Academy Season 3 Beginners' course - Homework Post for Task 2: Blockchain, Decentralization, Block explorer| by @faisee
Hello steemit
How are you all? I hope everyone is fine and doing good. I was inactive on steemit for some time due to some reasons but I’m back on steemit with the homework in steemit crypto academy for @yousafharoonkhan as first beginner homework. So lets start it by mentioning the homework.
Define decentralization. Describe the advantages and disadvantages of a decentralized system. In what areas of life can a decentralized blockchain be helpful? (write in own words)
Decentralization
Basically decentralization is no involvement of a center authority or 3rd party. It involves a system where users are the owners of their own system responsible for everything. Unlike centralized system there is no central server or machine which stores the data, In decentralized system, everything is stored on users personal machines without the involvement of any other. There is no one to store your info or any other involvement in one’s personal computer which happens in centralized system. In simple words decentralized system is the power to do whatever the user want, like test, run any application without any interference from any one because there is no central authority in decentralized system. I think decentralized system is more secure like there is no central authority which is storing our data unlike centralized system where compromising the main device can get result in data loss of whole organisation, business or company.
To further explain the decentraized system I will mention some examples which will make it quite easy to understand so my first example of decentralized system is this platform Steemit. This is a Decentralized system because the user can write whatever they want, where ever they want unless they breach the protocols like plagiarism etc.
Advantages
• The first and most important advantage od decentralized system is that it is more secure, having to involvement of central or 3rd party authority and user responsible for his own info make it more secure.
• As in decentralized system there is no central authority so it is difficult for hackers to compromise the system.
• As in decentralized system there is no central authority, every user is the owner so it gives them chance to express their idea freely to show their true potential on giving them free hand.
• It is easy to use system, there is no complex setup process in decentralized system.
• It is difficult to do any fraud or scam on decentralized system because it is open source system and everything is transparent.
Disadvantages
• As the system is transparent, anyone can see anything at anytime on the network without our knowledge.
• No overlook authority can result in rise of illegal activities.
• Very expensive in case of maintenance.
• Loss of master password can result in loss of whole thing and it is impossible to recover master password.
In what areas of life can a decentralized blockchain be helpful? (write in own words)
As there are many advantages of decentralized system which are discussed earlier so it is important if it is implemented so below are some areas where it can be implemented.
Education
In education it can be implemented to get full advantage. As of today due to covid and restriction, education sector is preferring the online education so implementing this system can improve the speed and communication gap between students.
Health
In health sector this is speed up the process like remove the load from one or two server and divides into multiples. As of today due to covid hospitals have a lot of load so does on its data so implementing this system this system can save the server down incident.
Record management
Saving important data on central server can attract the hackers which can result in loss of important data so implementing the decentralized system can save the data from stealing.
Conclusion
In conclusion, I will say that decentralized system is good solution to the crimes like hacking, fraud etc and it is a good solution because it is faster and everyone prefers the system which is faster, secure and more stable.
Hello @faisee,
Thank you for taking interest in the 2nd Task of the Beginners’ class. Your grades are as follows:
Feedback and Suggestions
You work is good but you should try to write clearer. Construct your sentences in a way that it would be easy for the reader to understand.
Your use of markdowns is good. I’m the first question however, you would have some better to make separate paragraphs.
You have done a good amount of research. However, in the last question you should have gone a little deeper to produce more information that would have made the work rich.
Thanks again as we anticipate your participation in the next class.
Thank you for the evaluation