Crypto Academy Season 3 Beginners' course - Task 2: Blockchain, Decentralization, Block explorer/ student: @franklin.tsosa/Teacher: yousafharoonkhan/17-08-2021/.
1 Define decentralization.
2 Describe the advantages and disadvantages of a decentralized system.
3 In what areas of life can a decentralized blockchain be helpful? (write in own words).
A cordial greeting to all the teachers that this season make up the crypto academy in steemit. Today I come to perform the presentation of task # 2 of the beginner level, wanting to be able to integrate through these steps towards the introduction of the world of cryptocurrencies. Unfortunately my first submission for assignment # 1 was unsuccessful. I hope through this assignment to answer the proposed questions and demonstrate my skills learned during the previous season. Without more than adding below, the points proposed in the index will be developed:
- 1 Define decentralization:.
If we want to know an academic conceptualization, the wep wikipedia defines the term as the process of distributing or dispersing functions, powers, people or things outside of a central location or authority. Although centralization, especially at the governmental level, is widely studied, there is no common definition or understanding of decentralization. The meaning of decentralization may vary in part due to the different ways in which it is applied.3 The concepts of decentralization have been applied to group dynamics and management, private companies and organizations, political science, law and public administration, economics and technology.
Now, quoting the aforementioned, it can be said that decentralization is a way of organizing that can be applied to any area of knowledge science where applying it in the world of assets in the wep, in this case through the blockchain does not All authority is delegated to a figure or body, that is, the decisions to be defined in a management of an organization or body are distributed among the users that make up a chain of blocks.
From my experience remembering the learning of a task already carried out before on decentralized systems, I think that there is no greater term that defines it as being able to have control over your activities, since they do not condition you with a series of contracts or guidelines to fulfill where the greatest The beneficiary is generally the body that is always above the growth of your own interests.
For me it is clear that the greatest examples of a decentralized system is the steemit platform where through this innovative system we are given the opportunity to grow equally and in addition to having total control over our accounts, being able to decide at any time what to do with our generated assets.
- 2 Describe the advantages and disadvantages of a decentralized system.
As we well know, every system to develop for a purpose and to be applied, the objective is to generate advantages for all its users or customers, but they also suggest some limitations which cause impairments that are recognized as disadvantages. The advantages and disadvantages of a de-centralized system will be presented below.
As a first advantage, I name what most professionals on the subject agree and it is nothing more than a decentralized system that helps reduce the workload by delegating the load to each group or organization equitably. For example, between users, which translates into the easier disbursements of a chain of blocks.
The de-centralized system allows each user to be autonomous, having total freedom at any time or moment of the day about making decisions without having to consult third parties, in addition to the fact that no intermediaries are needed between users, which gives full autonomy over their transactions.
It is proven that the de-centralized systems are those that today are at the forefront of technology in relation to security, since it shields the person with their systems or keys, thus avoiding piracy in a few words, nor can the owner operate if not He carries the password with him.
One of its innovations is to be the most transparent, a fact that makes it possible for users to see each transaction carried out within a chain of blocks, thus avoiding unjustifiable events.
It is so fast and efficient when carrying out any transaction that it does not take much time to carry out any movement and in addition to adding the most important thing, having the peace of mind that the data stored in the registry cannot be modified or altered by any user.
The disadvantages to name are the following:
The first limitation is for me the most important if you move to a place that does not have access to the internet, it is totally limited without being able to make any movement.
Due to the facilities provided by the system, it gives the opportunity for many to enter large amounts of illicit funds to what is known as money laundering and receive money without being able to be traced.
If your password or key instrument is misplaced or lost, you will run the risk of losing your assets forever, which is why this type of security tool should be kept in a very safe place.
- 3 In what areas of life can a decentralized blockchain be helpful? (write in own words).
For me, a decentralized blockchain can be integrated as an engine to any area of society. For example, in my country, Venezuela, unfortunately we have had an electoral system which despite being named as one of the most innovative in the world for having a digital network that works in conjunction with electoral machines which generate the user's vote and They total it, it has left a lot to do in terms of its transparency to define the winner of a contest. If this novel de-centralized system which is managed in blockchain were applied in this area in my country, we would have the opportunity to gain transparency by being able to observe online the amount of votes that were added and having the peace of mind that no participant will try to modify the vote. information for your benefit.
It would also have a great role in the area of the comptroller of the nation, since it would allow to assume a better control regarding the collection of the oil revenues of my country and of the national taxes, in order to know exactly: what amount of money is has managed to collect, how much each state has generated, each province in relation to them. It would be the most transparent way so that a memory and account can be provided.
In the area of education, it would undoubtedly play a leading role in terms of the organization, classification and assignment of each student to the public system of secondary and higher education. Creating a platform that works in a decentralized way for the assessment of academic tests and that allows according to the location, student aptitudes and academic level will provide you with a nearby institution in which you can obtain academic development. I think that this type of decentralized technology applying it to any area of society would put an end to social inequality, achieving as results that we are all taken into account. What better example than steemit, which has not allowed an opportunity for academic, social and professional growth.
I can conclude that the de-centralization technology is still in a growth stage where its systems can be further perfected in order to leave behind once and for all that old centralized system that conditions you as citizens and where your interests will always depend on third parties, taking away the opportunity from you to make those important decisions. Without more to say, the student @ franklin.tsosa says goodbye, hoping to have responded to this assignment from which I am once again sorry to have learned. Thanks to the teachers' union for their efforts, thanks to you, acadcemia is possible. I await your prompt reply.
Hi @franklin.tsosa, Thank you for taking interest in the 2nd Task of the Beginners Fixed Class. Your grades are as follows:
My Review and Suggestions:
You have completed the task.
Many of your grammar is still wrong.
Vary headers and sub-headers to make them look more attractive.
Improve your writing skills even more by studying "Markdown Style Guide".
Thank you!