Steemit Cryptoacademy Academy Homework Task For @yousafharoonkhan

Hello Steemians , Hope all of you are doing fine both mentally and physically . So in this post I will be posting homework on centralised and decentralized system as per asked to submit by @yousafharoonkhancryptoprofessor.

1. What is centralisation and decentralisation?

Centralization
We can say that it is the process or method in which some activities which are important to run an organisation like : planning , decision making and power to control things is only given to the higher officials or to the some of the specific person of the organization .
Higher officials make the decision and the ones who are working under them have to follow the instructions given by them.

Example of centralization
There are many big companies that work on this process like Apple and McDonald's, they use centralised method to achieve a goal set by the higher officials in the organisation

A chain showing centralised system
Source:https://images.app.goo.gl/3EhzRFgJEApuFoAK7

Decentralization
Well it is the reverse process or method of centralization in which the activities to run an organization are equally distributed among the members of the organization. One can decide what is best for him and make plans and execute them unlike in centralization.
Example of Decentralization:
Well Steemit will be the best example for us , as it is a decentralised app , ao it can't be controlled by anyone , the people who are using it have the power to do without consent of any third person , like I can do a transaction without even consent of anyone .

A chain showing decentralized system.
Source:https://images.app.goo.gl/3EhzRFgJEApuFoAK7

Q.2 difference between centralised and decentralized system.

Centralised system	Decentralised system
1. All the powers lie in the hands of the higher officials or specific operation of that organisation	1. Powers are equally distributed among the users or members of an organization.
2. Decision making power lies in the hand of higher officials and that's why could be slow.	2. Decision can be made by anybody in the welfare of organisation so a fast decision will be made.
3. You can say in this the flow of orders or hierarchy is unidirectional ,from higher official to th lower ones.	3. Flow of orders or hierarchy is like an open tree , by saying open tree means there is no direction of orders or no hierarchy between the members of organisation.
4. It is more like a strict job to follow orders or you can say bureaucratic.	4. While in Decentralized system it could be flexible cause you are not answerable to a.nyone
5. Changes are very rare and predicting outcomes is easy as it is controlled by the higher officials and they have all the information about what's going on in the organisation.	5. Can be changed and the predictions of outcomes are very hard to , as no one knows what other person is thinking and doing fir the organisation .

Q.3 Advantages and disadvantages of centralisation and decentralisation

Advantages of centralized system	Disadvantages of centralized system
1. Execution of a work or a choice can be made very quickly by the members at the lower level of hierarchy after being compelled from the officials at higher level .	1. Whole control of the organisation is given to the higher officials or to the specific persons of the organisation.
2. All the people are work for the same goal or with same focus in the centralised system.	2. This system can develop a sense of favouritism between the member of organisation whichcan cause rift between the members and develop frustration and anger.
3. Since all the powers and decisions making are in hands of higher officials and some specific people , if something goes wrong they must be considered accountable for that .	3. Not so secure network than decentralized one due to overall control to the higher officials or specific people.
4. Employees are given a well defined role of how to do work , when to do , and many explanations ao it will make employee more focused on his or her work.	4. User data is not safe as it doesn't follow peer to peer currency method in which no third person ia allowed during any work only the sender and receiver .
5. Better command over the employees and it is cost efficient as it mitigates the risk of transferring funds to the wrong people .	5. Sometimes higher officials can betray the organisation and leave the organisation at the brink of destruction.

Advantages of decentralized system	Disadvantages of decentralized system.
1. It is more secure system than the centralised one as there is no control of officials over the data and transaction history of user.	1. A not so stable or you can say volatile system is there is this system , due to regular fluctuation in the rates of cryptocurrency.
2. Improves the efficiency as the user or employee is doing his or her work willingly and with more energy.	2. Sometimes the aim of an individual and the organisation can differ from each other .
3. Well in this system , lower and middle officials have the power of decision making that can build the trust between the higher officials and the lower and middle ones .	3. Sometimes there can be a gap of communication between the higher and lower officials in this system , because of the decision making power given to all.
4. Quick decisions can be made and implemented quickly.	4. As the power of decision making is given to lower and middle officials or users , there is a chance that they can mis use it.
5. Funds in this system are safe and secure and therefore a very little chance of getting hacked is there .	5. There can't be effective control of anyone in the organisation , which makes vigilance and evaluation hard and makes this system a costly one .

Q4. Which one of the systems is good for business and investing?

Trading , investing and business on both the systems can go good and can also go bad , so you must know the nature of your business , and the currency or platform you are investing in , so for some people doing business, trading and investment in centralised system can be beneficial and fir some trading and investment in decentralized system is beneficial.

If you are looking for easy access and for a reliable source of investment or business you should opt for the centralised one . While on the other hand if you are looking for the more secure and more privacy ,you should opt for the de centralised system .

If you are looking for transparency and want to invest for a longer period of time you can rely on centralised system , and if you are looking for the safety of your data and don't want to be controlled by the officials above you , you should opt for the decentralized system .

Both the systems have their perks and their restrictions , now it's only up to you which one you choose .

I personally go for the decentralized system for the security and don't want to be controlled by anyone .

Q5. Any method to show whether the block chain is centralised or not.

Step1 : Open the website https://etherscan.io
Etherscan .

source:https://etherscan.io

Step 2 : put company token contact address on the search bar of website .
I am putting the token cintact address of tether which is a stable coin : 0xdac17f958d2ee523a2206206994597c13d831ec7

putting contact source code of tether

Step 3 : All details about the company will come , as you can see .

All company details of Tether

Step 4 : Go to the contract and check contract source code (solidity)

Here you can see ,no word seems to match , function destruct only administration or self destruct , which means it is decentralized cryptocurrency.

#yousafharoonkhan-s2week1 , #cryptoacademy

Thank you , for the attention of @yousafharoonkhan.