Crypto Academy Week 9 - Homework Post for Professor @yousafharoonkhan on Decentralized and Centralized system , Advantages & Disadvantages and which one is best for business? Homework by @kelechisamuel

It was a beautiful lecture by @yousafharoonkhan and as regards to that, I will go straight to the homework answer

Question no 1 :
Write the definition of Decentralization and Centralization in your own words. Explain these two systems in your own words.

Decentralized system:
A decentralized system is a system in which different members of the system makes independent decisions with no overall head to boss them around and make general rules that governs the system it's a system of one man for himself by himself

So therefore in this system everyone can make decisions, act creative and achieve results individually

Centralized system:
the centralized system, unlike the decentralized, all members of the system are connected to a central server that stores data and gives the orders. All decisions are gotten from the central server and distributed to the members
In this case individual members who are at the lowest part of the chain have little or no say as regards decisions made by those at the top ranks of the chain

Question 2: Explain in your own words the difference between decentralization and centralization system Or Compare both in own words.

Comparison between decentralized or centralized

1) Durability: the centralized system are more likely to fail than the decentralized system as they can be prone to hacks and other defects

2) Flexibility: the decentralized system permits a more flexible approach than the centralized system since everyone takes instructions from the central server in the centralized system
3) Maintenance: the centralized systems are easy to maintain and more affordable when compared to the decentralized system
4) Simplicity: as we can all imagine the centralized system is simple and easy when compared to the decentralized system that is filled with so much complexity
5) Performance: the decentralized system has a better performance ration when compared to the centralized system
6) Security: they both have high security risks but data is easier to access from the decentralized system

Question 3: Write five Advantages and five Disadvantages of decentralized and centralized system.

Advantages of decentralized system:

1. it makes and aids reduction of stress from those at the top
2. easy to access user data at any time
3. it creates a better control as each person can access and make decisions
4. has a long durability tendency as it is not prone to hacks
5. has great and a faster performance percentage

Disadvantages if decentralized

1. it is expensive to maintain
2. it is not easy to coordinate as each member is entitled to their decisions
3. it give little room for a long planned decision, decisions has to be quick
4. no cooperative goal to be achieved
5. it is difficult to adapt to because of the swiift change in technology and not all units might be carried along

Advantage of centralized system

1. direct chain of command, a straight line order
2. cooperate vision
3. it can be maintained on a low cost
4. higher standard of supervision and
5. decisions are carried out faster than decentralized

Disadvantages of centralized system

1. discourages creativity of individual members
2. delays in decision making
3. too much pressure on the top operatives
4. it is prone to hacks
5. slow performance percentage

Question 4: Which one is better for Business/trading and why? (write in own words)

From my research, I think they both have their usefulness at different levels, if you are creating a small business, I would advise you make use of a centralized system so you can be in charge and at the forefront at all times
But if your business is a large business or trading platform, I will advise you go for a decentralized system or structure having in mind that there would be many subsections created
How do you know if a blockchain is decentralized or not? You can describe any method, but in your own words.

Question no 5 : How do you know if a blockchain is decentralized or not? You can describe any method, but in your own words.

First of all search for etherscan on Google Advance to their website and it will look like my screen shot below

Next step is to input the token address of the block chain you want to find out, for the sake of this homework I will be use dogecoin

Click on the contract icon below

A code dialogue will be displayed, where you can see all details of the block chain

From the screenshot above, we can see that dogecoin is decentralized because I couldn't find exact words as instructed by prof

Conclusion
Both the centralized and decentralized system both have their gains and losses depending on the business you want to involve in, it is wise to count the cost and know which to go for

I would vote for decentralized any day, everyday

I am @kelechisamuel thanks for going through my homework

CC
@yousafharoonkhan
@steemcurator01
@steemcurator02