Crypto Academy Season 3 Beginners' course - Task 2: Blockchain, Decentralization, Block explorer @krousse10
(2) 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 Decentralization does not depend on private organizations, we can say that decision-making is not the responsibility of a single person or basically power or authority is delegated to many parts or to several people and thus be able to make good decisions.
Decentralization is key to developing management capacity, in a decentralized system each person has full access to their information and decision-making when we talk about decentralization we talk about freedom, transparency and distribution Just as most social networks have their decentralized system, each one is the owner of their information of what is commented than what is published.
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Describe the advantages and disadvantages of a decentralized system
Advantages and disadvantages
Advantage
The processes are much more effective You
don't see much bureaucracy
It is a free system in decision-making and coordination.
Functions can be delegated to one or more people.
My organizations are not controlled by private entities.
It is a safe and completely transparent system.
Totally secure, thanks to the complexity of its algorithms that are used to make transactions
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Disadvantages
There can be many problems when coordinating since the information depends on several people and not one.
Not all people are qualified to make decisions.
And if they are not trained, everything can fail
- When making decisions, not everyone will agree
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In what areas of life can a decentralized blockchain be helpful? (write in own words)
In the health sector or area, a decentralized system would be very useful since it would improve the quality and much more the efficiency of any health system, with decentralization in this area it can facilitate the participation of many people, groups or community in decision-making for this sector.
In the political sector, a decentralized block system in the political area would allow us all to be a participant when nominating candidates and participate transparently in the voting process, thus saving a lot of time with a blockchain system. totally transparent without fraud and without going through third parties.
In the educational system, a decentralized chain of blocks would be useful since it would not only facilitate the lives of teachers and students by having each one direct access to all their information but also to be part of the decision-making that can be implemented for education.
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