Crypto Academy Week 13-Homework Post For @yousafharoonkhan [Centralized and Decentralized Social Media]

Once again, I have been privileged to be a part of this class. Prof @yousafharoonkhan you have shed more than enough light on centralization and decentralization in all ramifications and you have made me understood many things about them.

Every week, I look forward to your class because of the interesting topics you present and the simple terms with which you present your courses.
Since the season two of the crypto courses started, I have been following you up and I have done two of the homework tasks given by you in previous weeks.
Today, I shall once more present the homework task from you below.

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Question no 1 :
Write the definition of Decentralized and Centralized Social Media Platforms in your own words.Explain in your own words the difference between decentralization and centralization Social Media Platforms (answer should related Social Media Platforms . (answer must be written in your own words, copy paste or from other source copy will be not accepted)

First of all, I would like to express my understanding of social media.
Social media are platforms where people from all continents of the world meet to interact and air their views on different concepts and happenings around the world. Social media are for fun and business. People join social media for different reasons, some join for fun, some for business and some for both. Popular social media platforms include Facebook, WhatsApp, Twitter, and Instagram. Others are Telegram, LinkedIn, Discord and 2go.

Centralized Social media are platforms for social interactions controlled by a central authority.
These platforms monitor there members' activities and actions and exercise control over everything through the authority set by the media. Most centralized media have a loose security system which makes it easy for hackers to hack them even when some persons who know the way about their workings make money from them on a daily basics.

Decentralized social media are business based platforms for social interaction controlled by no particular central authority but every member exist on their own and in control of their accounts. On decentralized media, different subject matter common to all are shared in posts and a reward system is provided to compensate beautiful writers and authors. Because of the monetary involvement of this media, the security systems of the media is very tight, there is a strong security system to secure the asset of members to to prevent hackers from fraudulent activities. The only decentralized social media platform in use now is steemit. We hope that in the nearest future, more of this kind of media would be developed.

DIFFERENCES BETWEEN CENTRALIZED AND DECENTRALIZED SOCIAL MEDIA

CENTRALIZED SOCIAL MEDIA	DECENTRALIZED SOCIAL MEDIA
They are controlled by a central and higher body or authority	They are not controlled by any central authority
Possess a single security system. Only one password is used to secure each account on these media	Possess a multiple security system. Many passwords are used for the security of an account.
For those who use them for the purpose of business, the earning by an individual is shared between the individual and the platform	Those who use it for business receive all their earnings to themselves, no profits are shared.
Centralized social media restrict social interaction between. Members on media like Facebook which is centralized are zoned. It has a country by country zoning system. This restrict people from Africa to see and interact with people from other country or continents.	Decentralized social media platforms do not restrict social interactions. Steemit for example allows individuals get access to interact with people from all over the world.
Members of centralized systems are usually afraid to chat with anyone outside their zone (country/continent)	No form of fear in members interaction.
Any member who joins a centralized social media platform with the intention of earning do not automatically earn even when he writes even when due procedures are followed	Any member who joins starts writing starts to earn automatically when due procedures are followed

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Question no 2 :
Which One is The Future of Social media ? Decentralized or centralized Social media.(answer must be written in own words)

Most people use social media platforms as a means of interaction. This means, the traffic they generate only fetches money for only the owners of such platforms.
Since social media platforms have succeeded in bringing the world together at one point, and this was first made possible by centralized social media. Centralized social media platforms are still doing a great work in uniting the word and bringing the world together for social interaction.

On the other hand, decentralized social medium like steemit is aimed at bringing social interaction and also enriching it's members by rewarding their contents.

With these two valid points, I will like to say that both are the future of social media.

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Question no 3 :
How steemit decentralization social media is best than Twitter and Facebook.(answer must be written in own words)

In very simple words, just I have stated above, there are couple of reasons while steemit as a decentralized social medium is better than Facebook and Twitter, the centralized social media.

First of all, the multiple security systems provided by steemit gives a strong security system that protect accounts of users
This is not the case in Facebook and Twitter platforms.

Secondly, Steemit offers users the privilege to earn as much as possible without any form of restrictions or sharing of profits with users. It offers an opportunity to people to earn a living from writing beautiful contents.

Thirdly Steemit helps users to interact with anyone from any part of the world without any fear of theft or fraud.

Lastly, Steemit offers an opportunity to earn even from the first post (introductory post) one makes in the platform.

Theses privileges are not offered by Facebook and Twitter.

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Question no 4 :
What do you say? How do Steemit social media change the lives of millions of its users?(answer must be written in own words)

Many persons were doing well in the Steemit platform before I joined. Some had made it big while some were just starting to gather up with everyday hard work because they were aware of the fact that Steemit can turn their lives positively around in a short while.
Today many of these persons own a portfolio in steemit and are now big members of the platform.

Using myself as an example, I came into steemit with so much debt that I couldn't figure out when exactly I would be able to pay up. With consistent hard work, within five months. Steemit has taken me out of financial obscurity and today, I can beat my chest and boldly say money is not my problem. Just few days ago, I bought an android phone worth $168, about (1 60STEEM and #84,000, in naira without thinking of any financial inadequacy.
Steemit has given me the money I need to set up my life and live an independent life.

I can go on and on but let me stop here. I have this to say, anyone who wants to experience financial freedom and to be salvaged from financial trauma should run to Steemit because, it has that capacity to turn around anyone financially for good without investing any money into it.

Question no 5 :
How can we make money with Steemit's decentralized social media.(write your own experience)

There are different ways to earn on Steemit decentralized social medium.
Steem is the crypto of the steemit social medium which can be exchanged to other fiat or local currencies.

To earn Steem, the primary and easiest way is to write good contents and post on any of the groups. The post will be voted in USD within a window voting period of 7days by as many members as Possible. At the completion of 7days, it pays out as SBD, or Steem Power, (SP). The SBD can be converted to Steem in seconds or 3 minutes while the SP can be converted to Steem by a process known as powerdown. This takes 4weeks to complete.

The second way by which Steem can be earned is by curation reward. This is a function of the amount of SP a user has. Not everyone can earn steem through curation if they are not in a functional curation trail. People with 500SP and above can earn individually by simply voting on another author's post. After seven days, when the post pays out, all the curators gets a fraction of the amount the post yielded depending on their SP and the time they voted. Though the system is designed to give curators half of whatever they voted in dollars but early voters (people who votes within 5 minutes age of the post) can earn more than half of their voting power.

Another way to earn steem is simply powering up. Powerup is the process of converting steem to steempower. This increases the voting power of a user. In the steemit social medium, power up is done on the first day of some selected months. A member who follows up and powers up big and is among the first 5 persons to have poweredup the highest steem, is usually rewarded with steem and a delegation of SP which will help the person earn curation rewards.

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Question no 6 :
How to create communities on Steemit social media ( practicle step by step ) & Promote your homework post on two social media ,twitter and facebook (just share link in comments area)

As stated in Prof's class, to create a community on steemit, you must have at least three steem backed dollar (SBD).
Then follow the following steps

• Log into your wallet and click on communities.

• Write the name and description of the community you want to create and click NEXT.

• On the next page, copy the owner's name and password for the community and mark the box they wrote I have securely saved my owner's name and password.

• Click Create Community

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This is my entry!
Thanks!

SPECIAL MENTIONS:

@steemitblog
@yousafharoonkhan