Crypto Academy Season 2, week1: home work post for Professor @Yousafharoonkhan- Decentralized and Centralized System, Advantages and Disadvantages and which one is best for business.

Thank you very much professor @Yousafharoonkhan, for this wonderful lecture. I want to say I had a wonderful understanding of the topic, vis-a-vis my response to the assignment.

ASSIGNMENT QUESTIONS 1
Write the definition of Decentralization and Centralization system and explain both systems..

MY ANSWER
Now explaining this two terms in my own words..
DECENTRALIZATION: This is defined as a system(Organization, block chain, Business) were the affairs, governance, rules etc, of the system does not centralize at a center or on one person but power is delegated to every members of the system..

While
CENTRALIZATION: as the name implies is defined as the system were power is not delegated to every members of the system, but it is centralize at the middle, held by a group of persons or an individual.

DECENTRALIZATION FURTHER EXPLAINED
Now in this system of operation, like is operated by many block chains, allows every member to exercise some level of authority based on his or her capability. In this way power is not necessarily generated from a center, but spread across the system and decision can be taken by each members for the betterment of the system. But I want to state here categorically that in as much as a system is said to be decentralized, there are rules which is fixed by the highest authority still for the betterment of the system, but the beautiful thing here is, in this decentralized system it is not taken by some group of people, but there is a unanimous agreement by stakeholders of the system which will be serving as the voice of the rest of the members of the system. Or such rules can be unanimously agreed to by every members of the system. Like here on the steemit block chain, were it already a rule that no plagiarism should be done, or even when a rule is started that members at a certain grade level on steemit should not take part in the cryptoacademy lectures, I believe before this decision was taken they must have been a discord agreement and reasons for this clearly stated as seen by the post from the @steemitblog. So, with this my last part of explanation, Decentralization can be seen in some more advanced light or I would say in some more diversified light.
Now if I want to sight an example for the Decentralization system in a way to increase the knowledge of it and reduce the abstract nature it might possessed from the so many write ups we have done..
Now looking at steemit as a Decentralized block chain, I have the power as just the member of the block chain, to purchase and accumulate so much of the steem power based on what my finance can purchase and become a curator without having to be at the center of authority, that is what I term ease of investment.
I'll also like to state that alot of block chains that claim to be decentalized are not completely Decentralized there is a little sprinkling of Centralization, which you can detect using the definitions above.

CENTRALIZATION FURTHER EXPLAINED
Centralization is just a complete opposite of the Decentralization like stated in the definition above. In this system as a member you have no power to make decisions and to make it more intriguing, you cannot argue the decision of the leaders of the system after it is made whether it affects your investment positively or negatively. The centralized system see's power coming from just the top and every member follows suite without complain. A centralized system takes its stem from a detectorship system of government.
Now when I say that alot of block chains that claim to be Decentralized are not completely Decentralized is because as a member such system just coming in after layed down rules was made, you don't have any right to argue the rules as at the level you are, or I might say you might have but might not be heeded to because you are a new bee, put under the cover of you don't understand the Workings here for now, or that the majority does not stand with you, in that way your power is limited and so the idae of Decentralization is reduced and adherence of Centralization in a little way is adopted.

QUESTION 2
EXPLAIN THE DIFFERENT BETWEEN DECENTRALIZATION AND CENTRALIZATION

MY ANSWERS

1. IN DECENTRALIZATION, EVERYONE HAS POWER: as earlier explain in this system, power belongs to every members of the system, it does not come from only one point, but every member is entitled to some level of his or her own opinion. Simply put every member is part of the decision making of the system. WHILE
   IN CENTRALIZATION, POWER COMES FROM ABOVE: as against Decentralization, here power comes from the highest authority. It is more like a sole-proprietorship kind of business, were only the owner makes rules about the business. So the members has no part in the decision making of the organization or system.

2. IN DECENTRALIZATION, members can advocate for a change in the way the system is operated, since power is delegated to everyone.
   While
   IN CENTRALIZATION, members cannot advocate for the change in the way things are done but rather work with the laid down principles governing the system.

3. IN DECENTRALIZATION, since the whole system is not connected to a server, then the programming or the system cannot be altered without the concent of every members of organization. While
   IN CENTRALIZATION, The owners or the people with the higers authority alone have access to the server and can alter it at may point in time without the concent of the members.

QUESTION 3
WRITE FIVE ADVANTAGES AND FIVE DISADVANTAGES OF DECENTRALIZATION AND CENTRALIZATION

MY ANSWER

ADVANTAGES OF DECENTRALIZATION

1. Allows every member to be part of the decision making of the system.
2. The people at the higest level cannot just fold up the system since everyone had a stake.
3. Investors have confidence when they invest because there is no fear of poor decision that can affect their investment negatively.
4. It is more reliable and secured since the server is not in one place which makes it difficult for hacking.
5. Growth from the lowest level up the ladder of levels is easier with this system.

DISADVANTAGES OF DECENTRALIZATION

1. High fluctuation of market price due to the fact that every members activity might not lead to the betterment of the system, so to this end a member can stay somewhere and manipulate the system to favor him alone and he does not necessarily have to be at the top and this may lead to the instability of the market price of the systems token.
2. Since the data in this system is not connected to a server, then when a member losses his access code then his operation in the system is over. Because no one saves your data except you.
3. A mistake during transaction cannot be reversed, except the receiver of the transaction is willing to make a return. If not then a wrong transaction spells the end of that token.
4. Decision making can be slow in this system since alot of members need to concent to it..
5. Easy manipulation of the system from the inside since everyone has power. Like opening of multiple accounts just to take part in the same contest as different persons. It usually takes a little time before the person is fished out.

ADVANTAGES OF CENTRALIZATION

1. In this system transaction error is easy to trace and returned since every information is monitor from a server.
2. Every members of the system takes information or command from the highest authority, so therefore any deviation from that command can be easily traced and reported.
3. The token in the system is more stable since the people in the highest authority can manipulate, invest and empower the tokens in a way that will favor it in the market.
4. Everyone in the system is more willing to work for the betterment of the system so they can impress the people in authority.
5. Easy passing down and implimentation of the information in this system.

DISADVANTAGES OF CENTRALIZATION

1. Decision made by the people in the highest authority cannot be questioned
2. The server is easy to hack since it is in one place.
3. The people in authority can manipulate the server at any time to favour them whether it favours the members or not.
4. The system can be folded up at any time without the concent of the members.
5. Investors who are not among the higher authority in this system have little or no say the working of the system.

QUESTION 4
WHICH ONE IS MORE RELIABLE FOR BUSINESS OR TRADING AND WHY.

MY ANSWER
From all indications I would say that Decentralization is far more better for investment even if it has it own set backs but I would recommend it to any investor because Centralization will need you to have a really high trust on the highest authority before you proceed to invest, whereas in the Decentralized system don't have much worries about trust since you as the investor have a part in the decision making. Even if the market price of the token fluctuates you are rest assured that if the block chain is promising then you are rest assured of your high returns of investment.
The bottom line of the whole thing is the investor in Decentralized system is not afraid of a fold up tomorrow. So you are sure your money is safe. That is why I prefer Decentralization.

QUESTION 5
HOW DO YOU KNOW A BLOCK CHAIN IS DECENTRALIZED OR NOT.

MY ANSWER.
Now I want to state a very simple method though its a bit risky before we proceed to the more critical one.
Now this is my mine though. In this my method you just get your self registered in the block chain and then check out the workings of the block chain, whether it is truly Decentralized or not.. but then this type is a bit risky for investors because you might found out late that leaders of the block chain were lying about the block chain being a decentralized block chain.

Then to a more in-depth and better method of investigation.

First step:
Search for etherscan on Google search. The page below will open.

Source

Second step:
Click on etherscan on the page and the page below will come up.

source

Third step:
Then input the blockchains token Contract address. And search.

Fouth step:
Now after the search you will click on the contract. Now after this has opened you will search for some words in the coding area.. this words are administration, self distrust and the likes, then this system is not fully centralized.

Thank you