STEEMCRYPTO-ACADEMY WEEK9, HOME-WORK POST FOR YOUSAFHAROONKHAN. (POWERED UP 100%)
Hello good people of steemit I must confess I'm really excited to write again today I devote my time and do enough research as far as this steemcryptoacademy is concern, many thanks to my dear professor @yousafharoonkhan.
You are really doing a good work devoting your time to teach and perhaps lecture is on this great topic, honestly I have learnt alot.
PROFESSOR=YOUSAFHAROONKHAN
STEEMCRYPTOACADEMY
ITEMS TO WRITE ABOUT
Write the definition of Decentralized and Decentralized in your own worlds.
Explain in your own difference between Decentralized and centralized system, compare both in your own worlds.
Write five advantages and five disadvantages of Decentralized and centralized system.
Which is better for business Trading and why, (write in your own words)
How do you know if a blockchain is Decentralized or not? Describe any method in your own words.
Definition of centralization
Writing on my own words Decentralization is a process by which the activities of a film, state or everyother reputable organization is been regulated or controlled by a central body or a central authority.
In this key regard every decision is been made by the law-makers appointed to work in the cabinet perhaps the head office, the office now will then be commanded and controlled by the central authority.
Centralization entails alot commands are been issued from the central authority and it's been carried out imidiatly for example in Nigeria here the federal government controlls all the arm forces any order issued will surely be obeyed they always hack-in to the command issued by the central authority.
Centralization has so many mutual consent on this case the central authority can liase with it's council for e.g the security council for advise. This is key because no matter what you have a place to fall back on in the end.
A centralized body gives room for a way at which the control of it's citizens of their is any bridge it can be amended since you have a place to fall back in after the end of anything that might have occurred at that particular time of asking, good or bad .
Definition of Decentralization
When we talk about Decentralization explaining it in my own word what this basically means is that been Decentralized is just as to saying not been controlled by any central authority or by any one at all.
Some things in the universe is Decentralized for e.g the air we breath nobody controlls it only God almighty has the ability to give and takes and when he takes probably the fellow dies, that's just the simple truth.
Referring this particular one to #Bitcoin as a cryptocurrency and so many other cryptos out there it's not been controlled by any central body or organizationbut in tense of the exchanges you can use #Roqque app in doing that.
just of rescent the #Nigerian government put to stop ordering the central bank of Nigeria to warn all commercial Banks to stop the exchanges of cryptos, this now made everyone to start using the P2P method to exchange whatever cryptos they want to sell.
Explain in your own words the difference centralized and Decentralized system
Difference between centralized/Decentralized system.
A centralized system is basically been controlled by a body, this body has a selected committee working with the figure head in order to move their desire forward.
A Decentralized system isn't controlled by anyone, it practically functions on its own independently.
A centralized system always act and depends on the information or order been issued from the central authority and it must be obeyed with imidiatly effect.
A Decentralized system courtesy the fact that nobody controlls it, if anything happens you then have to spend Fiat to fix whatever the problems might look like.
A centralized system has the capability to hire and fire at any given time, what this means that if a body employs you and you fail to carry out your duties you can be fired because you are answerable to a body.
Decentralized system doesn't hire and fire but the system on its own can sieze operations thereby frustrating you at that particular time when you needs it's Decentralized services alot.
A centralized systems takes authority from the head
Decentralized system doesn't take authority from anyone.
write five advantages and five disadvantages of Decentralized system and centralized system
five Advantages of a decentralized system
Reduction of stress on Top executives/officials
- In a Decentralized system since there are so many people in the executive council duties are been shared so there is a lesser work associated to one individual, in the matter of fact due to one or two reasons one individual can fall sick and the available person will do cover up.
diversification facilitation
- Here any product you intend to market will most-likely be facilitated and your investors will find it very easy to carry out he's operations because he won't be answerable to any central body.
Provision of market value
- in this regard your product will attract more value because it's not been expose to any individual that will de-market the product in order to change customers demand, the price, or the quality of the commodity.
promotion of multivation
- Multivation come along side with trust, it will most-likely inproov the ability of the employees to further gain enough trust to invest since they are financially autonomous.
Decision Making are fast
- since decision making is not coming from a central hirachy, in order words the decision making is practically closer to the investor as he can on his own quickly access whatever he needs quick at any point in time.
five Disadvantages of a Decentralized system
More financial burden are required
- In this regards only experts in the field are been required, and it also requires funds in order to get the best heads together in order to achieve greater rewards in the end. Medium enterprises cannot afford this.
Experience personnel is required
- this won't work well if there is an absense of a very skilled person Minning the activities of things around. It will most-likely become nonsense if there is no qualified personnel out there.
violent
Make profit at all cost system is been deployed here, experts are been put under pressure in order to make sure that they deliver at the tail end. This might bring violent conflict among workers.
straight policies
- It's usually hard to understand terms and procedures everyone will like to operate according to what they know best since they aren't answerable to any central authority.
Co-ordinating problem
- There is some form of division among the experts as they will find it very difficult to obey the codinators, remember everyone is an expert out there.
five advantages of a centralized system
Clear command in chain
- A centralized system is been commanded by a central authority reason been that they have a body to fall back on and report to, for example the junior staff report to the one higher than them. The command usually benefit since they are financially autonomous.
vision is been focused
- As a centralized system the structure of the management is been focused on the way it will improve the communication of the organization and the employees as well.
Reduction of cost
- In a centralized organization it's standard organization has guides, rules and regulations guiding the admistrative cost at which the office is been runed.
implementation of decision's are quick/fast
- Not large group of people in this centralized system makes decisions and the subsequent level is been reached regarding the information been passed out.
Nature of work is practically improved
- In a centralized system since many heads are gathered in order to make decisions, it helps in the productions of good quality work and it's been supervised by the central authority.
Five Disadvantages of the centralized system
Strict Leadership
- In a centralized system the new employee's practically doesn't have the mandate to contribute in part of the leadership team. Even if you try it won't be acnowledged, ideals as the major decisions are been taken by the central authority.
Negative control
- The eskos are been pressurized to galvanize ideas in order to transform the activities of the organization. This further bootress the fact that the key executive's will then have no time.
working is been delayed
- After a meeting of the eskos the results is been compiled and sent to the central authority by so doing there is delay in the pase of work.
Loyalty of employees are been disreputed
- Employees become unloyal to their heads if since in the decision making they are part of it. They will feel that any initiative brought out by then should always be considered.
summarizing
- A centralized system allows the excos and the employees to contribute with whatever ideals been maped out courtesy the time decisions where made.
which is better for business/trading and why?(writing in my own words)
This question is cool thankGod everyone is writing on his own words for me I will choose to a centralized system as the best for business/trading. Let's understand what investors tips as market capitalization every investors mindset is to make profit.
Now let's narrow it down to the secondary market at this place nothing more it's just where the investors I spoke about buys and sells their product, e.g if you reading this post now wants to purchase a product of #nokia what you need do is to buy from the investors rathan than buying from the manufacturer.market capitalization comes to fruition let's genuinely looks at the best two market I will like doing business with
Primary market
Secondary market.
I will go with secondary market.
Key importance of secondaey market.
In secondary market the economy of the country is been measured by the flotuation of price tags at that particular time of asking, e.f in Nigeria here petrol price isn't fixed, so investors buy at any rate.
if you have a company for instance secondary market will provide value and add value to it making it an eye catching for investors to come in and put their Fiat.
Secondary market provides adequate price tag for the commodities that you purchase, it also accomadates the price tag security.
Different between primary market and secondary market
Primary market is a market that provides secured environment for investors to strive in a given company there be having the mandate to negotiate with the companies stake holders since the whole system is centralized.
Secondary market has no issue since the investor is just saddled with the key responsibility of buying commodities, investing and having profit gain.
In primary market the (IPO) with their little investment package won't be able to purchase higher commodity to investing this regard their aim and objectives are basically limited.
Secondary market provides room for stake holders to negotiate big deals with the company directly. This is practically how it works below.
Further more at this secondary market items you trade are secured the companies subsequently issue the investor key opportunities to buy and trade by themselves. In this process the company isn't involved by any means.
In the primary market there is always room linking the investors and the company, but in the secondary market the case is different out there.
How do you know if a blockchain is Decentralized or not??
Over the years blockchain have been Decentralized and for this particular reason blockchain has been able to live and we keep enjoying whatever fruits it has been yielding.
Now let's take Bitcoin as an example , is a cryptocurrency and it's been Decentralized meaning nobody controlls it right good for you to buy it it passes through different stages. How I wish it was controlled by an organization my brother trust me it could have been sabotaged.
Remember money is involved here one #Bitcoin is worth within the range of 30million naira in my currency here Remember I'm from Nigeria the giant of africa.
Ways to know that a blockchain is Decentralized
The efficacy of the block-chain you operate for example steemit platform nobody controlls it other than the various steemitcutators assigned to curate posts. If your reward is due you claim it yourself.nobody tells you bro if you didn't do this I won't pay you hope you understand me.
Models of operation a decentralized system won't call you to come invest with then you see the good will then decides to invest, for example steemit platform, you decide to register and invest that's all.
Communication details , you see in a decentralized system there is always room for a designated contact point, meaning in the system a kind of a social media tools will be kept at which investors can get reach to bthen if there is any issue.
conclusion
Thank you very much professors @yousafharoonhan, I really enjoyed your lecture and I learnt alot from it. I really appreciate. Waiting to review my homework task #God bless you
First respected student Thank you very much for taking participate in Steemit Crypto Academy Season 2, Week 1 course class..
Dear students you explained every question very well , and i appreciate you that you wrote every line with great skills, thank you very much for taking participate in my class
good home work , very good home
Ratting : 9
Thank you very much professors@yousafharoonkhan I will keep posting good quality content...