Good day @yousafharoonkhan
I'm happy to be participating in @steemcryptoacademy courses.
I have read the text given and understood it the best way I can. So now I'm going to answer the questions given.

Types of systems

• Centralised
• Decentralized
• Distributed

Centralised systems

Source: google.com

A central system is one in which a centralised owner/entity/authority is tasked with managing data and or information of the users connected to their network by means of a server.
This central owner is tasked with securing the data and information of the users on its network. This enables other users to be able to gain access to such data or information. The information includes things like the profile of the user, the content generated by the user, the location of the user and much more. It is very easy to set up a central system and it can also be developed rapidly.

However the servers on the central system is prone to crashes, and when it happens the system cannot function properly and users cannot access their data. The central owner has to make sure network is available, since all centralised systems needs a central owner to connect all users. To add to this is the issue of security, as a central owner is responsible for storing data of users and can also access them. It can be hacked too by internal and external forces, because the system is centralised.

Let us consider some central systems that we have been using, such Facebook, Twitter, Instagram, Gmail, DSTV, central bank & my bank account, Samsung, iPhone, Globacom Telecommunications etc
These networks are controlled by a central owner/authority who manages the data and information given to them.

The implication of this is that for your data and information that goes to their central network, a third party has to be the one to verify it on your behalf. Let me use Twitter as a case study.

If you register on Twitter you have to provide some information about you, such as your name, date of birth, nationality etc
Twitter allows you to make posts and send messages to your mutuals on their platform. You are at liberty to send any kind of post both publicly and privately. Every single tweet posted and direct messages sent is stored on their centralised network or server.
That means that you would have to trust Twitter to keep your data privately. Also you need to trust that Twitter won't sell your data for their personal benefits.
This can also be achieved by hackers, because it's easier to achieve with a central system.
What if you post an information that sends the wrong message? It would be easy for you to be tracked because of your Information being easy to access.

Decentralised Systems

Source: google.com

A decentralized system is a type of system which doesn't have a central owner. The users of the system becomes central owners themselves, with them being able to store a receipt or copy of the resources/data other users have access to.
Blockchain technology is what made decentralization a reality.

Bitcoin was the first entity to employ the use of blockchain technology. Due to this, when a transaction is made with Bitcoin no central authority to verify it. Instead anybody on the system can check for the authenticity of the transaction.
Each user that is registered on the network is regarded as a node. Because of this, there are thousands of independent nodes operating on the network.

So for the system to be hacked, the hackers would need to have access to every single node—which is very difficult.
This means that a decentralized system is a safe reliable, and cheap way to partake in a funds transfer.

It should be of note that decentralized systems is not only possible in the financial industry, it can made possible for almost every industry you can think of.
Something else you should remember is that unlike the central systems where users need to identify themselves with your personal informations to join their network, in a decentralized system users don't have to do all that. You simply get a private or public key which makes you remain anonymous.

A decentralized system is not controlled by any single authority, and it is not backed by a centralised government or nation states. The control is given to everyone who joins the system, this tends to make society fairer as it takes control away from powerful corporations, entities and individuals.

Though a decentralized system can still crash, however it is more tolerant to faults, because it was designed that way. This can be seen when one or more central owner or 'nodes' crashes, the rest can continue to provide data access to users.

As long as one of the central servers continue to operate, resources remains active. This means that while the system continues to run, central owners can repair their faulty servers and take care of other issues that arises.

Advantages and Disadvantages of a centralised systems.

Advantages:

• Cheaper to maintain
• System can be developed quickly.
• Simple to deploy
• Practical when data needs to be controlled centrally.

Disadvantages:

• Prone to crashes.
• Privacy and security risks are higher.
• It takes longer time for users who are far from the servers to access data.
• It is less reliable.
• It is also less scalable.

Advantages and Disadvantages of a decentralized system

Advantages:

• Less prone to crashes.
• Better performance.
• The system is very flexible and diverse.
• Higher scalability.
• It is highly reliable.

Disadvantages:

• Security and privacy risk to users.
• Higher maintenance costs.
• Inconsistent performance when not optimized correctly.

Comparing centralised and decentralised Systems.

We can see some comparisons btw centralised and decentralised Systems from the above explanations given.
Here are some of them that are worthy of note.

• in a centralised system, users need to identify themselves by means of providing personal information to the central owners to join the network. But in a decentralized system, a user can remain anonymous and still perform in the network.

• in a centralised system if the servers crashes, the whole network is affected and users would have to wait for servers to be restored back to normal to be able to access data. In a decentralized system since there are many central owners, the network can continue to run as long as there is one of the central owner who continues to operate on the network.

• this is with respect to transactions and or funds transfer, in a centralised system every transaction or transfer has to be verified by a third party, the central owners.
  But in a decentralized system, any and every central owner can verify the details of the transaction in real time with their devices.

• in a centralised system we have one central owner managing resources, in a decentralized system we have many central owners who can continue to manage resources.

• a central system is easy to use and therefore has high liquidity, meanwhile a decentralized system is not easy to use and therefore has low liquidty.

• since a centralised system runs on a single server it can be hacked easily, whereas in a decentralized system is it very difficult to hack the sever, because everyone one on the system serves as a server.

• because data is stored in one place and can be accessed by the central owners, data can be manipulated whenever they want to. In a decentralized system data is stored in many servers which is connected by a blockchain system.

• a centralised system is low on reliability because they use only one server which can develop faults. But in a decentralized system it is highly reliable, because they employ many servers in their system.

Which one is better for business.

I think it depends on the type of business that you want to run and the system that would fit in to the business.
As every business' aim is to make profit, i think it is important to understand the concept of both system and see how it can be applied to your business.

Using the payment business as an example, every single bank and payment portals such as First Bank, Union Bank, PayPal, Western Union etc operates on a single server. The implication of this is that they have your details and they know about your financial history as well as activities.
They know how much you are paid, who you give money to, where your money comes from.
Also your information can be hacked and your funds can be stolen because of the centrality of the banks and payments system. Top of this too is the fact that the central servers can crash which makes it difficult for users to access their funds.

But if you employ the decentralized system.
Because the servers are not central, it would be difficult to for hackers to access your details and Information.

When you send and receive payment by means of crypto currency then you don't have to worry about waiting on the central owners In a centralised system to authenticate your transactions. And because there's no third party to confirm transaction, fess paid are usually less and in some cases free of charge. The systems doesn't have borders so it doesn't matter if you are transfer funds in you locality or to another person in far away China, as long as the have the means to receive such funds, the fees are the same.

Verifying the system

Still using the etherscan.io method.
I tried to do this assignment using your own method. I went to etherscan.io to try the process with the keys I have from my Tron and Timestope keys. This were the messages I got.

I realized that I didn't have any token key to use for this assignment.
However I understand the idea you tried to teach. How to very if a blockchain is decentralized or not, in order to prevent loss of resources and to be vigilant of scammers out there. I would try to get a token an test later. I would also look for another way to test. Thank you