Cryptocurrency currency exchange can be used as a vivid example to depict how Decentralized works.

Decentralization can be defined as a system that is not dependent, governed, regulated or owned by anybody, central body, an official body or any authority, instead its affairs, regulation, coordination and control and issues about the systems are distributed, transferred to different central/independent users/owners accross the system.

For example let's use the Blockchain-powered cryptocurrency alongside with the peer-to-peer transfer systems that leverages the use of Decentralize networks to present very strong and solid firewalls and security than the conventional centralized systems can ever be.
So blockchain applications is a vivid example of a Decentralized system.

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Recall, the opposite of a Decentralized system is the centralized system where powers and authority is assigned to some top level authorities to oversee all transactional activities in the systems. An example is the banking industry.

In contrast to a centralized system which stores user's personal details, in the world of decentralised system, all user's details and their identities are encrypted and protected in very secured way.

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For a decentralized system, power and authority to make decisions solely vest upon different subunits and the general constituents of the general system.
It is impossible to use search algorithms in decentralized system because it works in the principle of Mechanisms known as the peer-to-peer that allows user's computer to interact and relate explicitly to the client without any third party or intermediary.

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In the course of my research, I will outline three (3) forms of DECENTRALIZATION. They include:

• DE-CONCENTRATION:
  De-concentration as a form of DECENTRALIZATION can be defined as the weakest and lowest form of Decentralization which the decision making authorities is transferred or coveyed to the lowest level of the same central organization.

• DELEGATION:
  Delegation as a form of Decentralization can be defined as a very robust kind of Decentralization in which responsibilities and decision making are distributed to semi independent organizations and not fully controlled by any central organization.

• DEVOLUTION:
  In Decentralization, Devotion is a form that is characterized with the authorities transferring decision making power entirely and fully to an independent organizational units.

However, for every system, there also lies and exists the merits (advantages) and demerits (disadvantages) which would be encountered.

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• EQUITY IN POWER:
  There is even equality in the distribution of power as no user is higher than the other to exercise power.

• PROMOTION OF MORALE AND INTERPERSONAL RELATIONSHIP: A DECENTRALIZED system creates room for users to be able to be autonomous thereby allowing them to effectively communicate and increase their vim and vigor. The Communication provides solid Relationship among the users in the system.

• ENHANCE ENTHUSIASM AMONG EMPLOYEES:
  A system where employees/workers are solely independent will rise the level of their enthusiasms and inspire them to work more having in mind that no one will want to impose any actions on them or alter their decisions.

• FASTER DECISION MAKING AND EXECUTION:
  In a Decentralized system, the rate at which decisions would be executed and enforced is very swift because there's no sharp line between those enacting the decisions and those implementing it. This is because those making the decisions are almost the ones executing it.
  This makes things works faster in contrast to the Centralized system where decisions has to pass through several tiers of organization before it's been enforced.

• SECURITY:
  A decentralised system comprises of a very high level of security and less susceptible to easy penetration by intruders or errors online because the whole system is not handled by one server
  
  

  DISADVANTAGES OF DECENTRALIZATION

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• HIGH COSTS: Decentralization needs plenty of managers and a large numbers staffs for it to function effectively.

• VOID OF COORDINATION:
  A Decentralized system lacks coordination since everyone in the system are independent and have their powers unlike the centralized system where controls and coordination powers are delegated to a ruling body.

• VOID OF SPECIALIZATION:
  This is one of the disadvantages of any Decentralized system because many people who may be involved may not have required skill or knowledge but since the power is shared evenly and equally to them, they engage in all activities.

To further describe the advantages and disadvantages of a Decentralized system, I would use a tabular structure to show a vivid relation.

With this few distinction above, we can be able to deduce the advantages and disadvantages of a Decentralized system.

Without any further ado, we'd move to the last question

IN WHAT AREAS OF LIFE CAN A DECENTRALIZED BLOCKCHAIN BE HELPFUL? (WRITE IN OWN WORDS)

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• FUND TRANSFER:
  Using a Decentralized blockchain for the purpose of transactions is one of the best sequel to the fact that it is very fast and secured without any third party involved.

• FOR LENDING PURPOSES:
  Decentralization has create room for people to be able to lend. Lenders can leverage the opportunities offered by blockchain to request for collateralized loans with the use of smart contracts. Smart contracts developed on the blockchain makes some events to automatically trigger such as payment for a service.
  This makes loan processing to be faster and less expensive so lenders can offer better rates.

• VOTING:
  With the use of a Decentralized blockchain technology for electoral processes, it would ensure that no intending voter can duplicate votes or cast votes twice, or to alternate votes.
  It would also make voting fast, easy and lower cost to implement.

• OFFERS SECURITY TO INTERNET OF THINGS NETWORK:
  The Internet of Things (IoT) always makes our lives easier and simpler, although creates an opportunity for nefarious actors and malicious users to bridge our data or compromise important systems.
  But Blockchain technology can be used create more solid security by keeping passwords and other data on a decentralized network in contrast to a centralized server. Furthermore, it provides protection against data tampering and modifications since a blockchain is immutable.
  
  CONCLUSION
  After an intensive research and studying I was able to deduce various understanding about the Decentralization.

Having seen above how Decentralization gives users the ability to be the sole dictatorship of how they run their affairs independently without any central body.

We also saw the sharp line that exists between the centralized system and the Decentralized system, we saw the merits and the demerits of Decentralize system.

Finally, we look at some areas of life where Decentralization can be helpful such as voting, lending, Internet of things ( IoT).

I'm so elated to have done this research work and a big appreciation to my wonderful Professor @shemul21 who has properly reviewed my previous tasks and provide necessary corrections. Thanks Prof.

Special thanks to the audience, readers and my mentors
@eberechi10
@whitestallion

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