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Write the definition of Decentralization and Centralization in your own words.

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Centralization:
Centralization refers to the process by which an organization focuses on a specific leader or position to take action and to take action steps for decision making. In the process of centralization there is a chief under whose direction the activities have to be completed. For example, there is a main office, there are many more branches of that office, those branches are managed by the main office. This is the centralization process.

Decentralization:
Decentralization has no single authority where everyone can access a particular network. Another word, Decentralization refers to the transfer of control and decision-making over a distributed network from a centralized entity (individual, organization or group of individuals). For example, there are several offices, the activities of the offices can be done by each office.

Explain in your own words the difference between decentralization and centralization system.

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Centralization:

• Centralization is an organization the involve power in the hands of a particular administration.

• Decision making is done slowly.

• Power is in the hands of senior management, who have all the power to run the organization.

• There is no proper control over the organization. Because of the decentralization process.

• Organizations are implemented on a small scale.

Decentralization:

• Decentralization is the opposite. The ability to run the activities of an organization is not in the hands of a specific person.

• It's free and open to everyone.

• Decision making is relatively faster than centralization.

• There are middle and lower abilities to control, and besides, everyone can easily access them without any senior management abilities.

• There is proper control over organizations where centralization does not have proper control.

Write five Advantages and five Disadvantages of decentralized and centralized system.

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Advantages of decentralized

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• Decentralization has certain powers. Free and transparent networks are decentralized so in Decentralized network investors or traders have complete control over their assets.

• Better ability to expand blockchain network, It is important for network to constantly explore new opportunities to provide products and services to their investors.

• Decentralized systems run on blockchain and right now we are all aware of blockchain security, with decentralized systems ensuring security.

• Decentralized system data cannot be easily tampered with by hackers because it is stored on multiple servers. So it does not fall into the hands of hackers very easily. Unless the user is more aware.

• Compared to centralized systems, whenever a user exchanges assets with another, the decentralized system completes the transaction at a lower fee.

Disadvantage of Decentralized system:

• Costly - Installing a decentralized system is much more expensive, as it requires more programs and maintenance to make it more automated.

• Proper knowledge is needed to use decentralized systems. Not very easy to use.

• We are all aware of the high volatility in prices on the crypto market, because a crypto trader must be aware of this.

• Tracing transactions transacted under a decentralized system is difficult, almost impossible. Everything about decentralized transactions is easy to do anonymously, which leads to crime, or money laundering.

• Decentralized systems have high scalability Because there arw several unit on decentralized system . Some blockchain have monster scalability.

Advantage of Centralized system:

• Since the centralized system has all the usernames disclosed, it is not possible to misuse the resources here.

• The centralized system always wants to be in focus and perfect its vision quickly. Their purpose is to be quick all the time.

• As a centralized system and their superiors will oversee and ensure that they are improving the quality of work and provide 24/7 hour support.

• We can adopt the centralized system as a bank. The authorities will try their best to protect the user's assets.

• Since third party verification is available, it is possible to recover lost assets. This is a huge advantage.

Disadvantage of Centralized system:

• It has the potential to be hacked and the risk of losing assets.

• The decision is taken by the top few authorities. Users cannot make decisions about their resources in a centralized system.

• Not being able to control your own resources is a huge disadvantage.

• In a centralized system, the exchange rate is higher.

• Slow decision making.

Which one is better for Business/trading and why?

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Everyone has different preferences, some will like the centralized system and some will like the decentralized system. I will choose the decentralized system because it is currently the best option out there for business. The system should be chosen depending on the type of business, which type of business you prefer, the nature of the business and the preferences and needs of the traders. I chose the decentralized system because it has complete control of the company. Which allows the company to carry out its activities independently.

How do you know if a blockchain is decentralized or not? You can describe any method.

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Etherscan lets us know which network is centralized and which is decentralized. First go to Google and search by typing Etherscan. Enter by clicking on the first option that will come.

Then, after the page loads, copy the organization's token address and paste it into the search box.

I searched for Contract address in the search option above.

Scroll down and you will see several options. You can see contract there and click upon contract option.

Scroll down the loaded page and check the contract source code in the coding below. If you see words in codes such as "function destruct or self-destruct", it means the token is decentralized.

Screenshots taken fromEtherscan

Professor- @yousafharoonkhan
cc: @steemcurator02
@steemcurator01