Steemit Crypto Academy Contest / S1W3 – Blockchain through the concepts by @patience90

Hello everyone, I am pleased to be here once again, it's another week of the crypto academy homework on the ongoing steemit engagement challenge

Steemit Crypto Academy Contest Season 1 Week 3 - Blockchain through the concepts.

My favorite concept is Decentralization Blockchain Network and I will put my effort in trying to elaborate decentralization.

Tell us about your favorite concept or term related to blockchain

Decentralization Blockchain Network

Decentralized Blockchain: this is the transfer of total decision making and control from an individual or organisation to a distribute network and also strive in reducing some level of trust that users have place in one another to prevent their ability to apply control or authority over one another in degrading the functionality of the network.

Benefits of Decentralized Blockchain

Decentralized Blockchain has some benefits which include:

• It typically has some advantages which are lower transaction system though the advantages are worth the improved stability they produce. Consideration should be put in place when building a technology solution and they are distribution, centralization and Decentralization which are the three primary network architectures. Moreover blockchain technologies makes use of decentralized network more often and the application itself cannot be identified by being simply decentralized. But Decentralization should be applied to all aspects of blockchain application through management and access to resources in an application that a greater service is achievable.
• Reduction of weakness points: decentralization has the ability to reduce points of weakness in the system probably when there is so much reliance on the actor. The weak points could easily lead to system failure, inefficient service caused by exhaustion of resources, insufficient incentive for good service or system corruption.
• Efficient resource distribution: decentralization is efficient in distribution of resources to provide services, better performance and consistency in reducing failure.

Why do you think it is important in the blockchain?

Decentralization is important in blockchain network in the sense that if a point is affected, the system is secure because there no point of access as every node is separated from another which is is far from being corrupted due to how every node in the system is secured away other node which is duplicated.

Transparency runs well on decentralization hence it's an open system. For example, steemit where everyone transection is open for all to see except that one does not have access to the keys.

Decentralization Blockchain is open for everyone who is willing to join without discrimination of any kind.

Do you think that the existence of the blockchain would be possible without this concept? Is there an alternative or similar term?

Of course the blockchain network can exist without Decentralization. Just because it is a blockchain does not mean it cannot be built on centralization but most often, distribution and decentralization make some people confused. Though the aim most blockchain network is to profer solution to the users which may not include a certain level of Decentralization.

Do you think it is possible to improve this term in some way? Explain to us

In my opinion, I wish decentralization can improve by adopting a little bit of centralization. I meant in the area of foreseeing a user's affairs especially in the area of wallet transactions. Not that I am saying a third party should have access to the keys but in retrieving one's coins especially when there is an error in transactions to another. A foreseer can be of help to be taking care of stuff like in a centralized Blockchain. For example, a friend of mine made a wrong transaction but couldn't retrieve it and there was no one to report to because it's strickly one man's affair. So if there is someone at the centre in charge, contacts can be made immediately.

Inclusion, decentralization blockchain network is one of the most transperant and reliable concept. It has a lot of packages as mentioned above though the Blockchain can exist without it but a tree cannot make a forest so other concepts like Proof of brain, Genesis block, Hard fork, Proof of stake, Proof of burns, Centralization etc are all important as well.

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