Decentralization Blockchain
Decentralization
Decentralization is the process of distributing power and functions from a central authority. In other words, the division of authority and responsibility for decision-making is not only in one person, but can be given to regions or other people who have greater freedom and power.
Decentralization makes decision making easier when solving problems that need to be solved today, this way people will be involved so that each one of them makes their best decision.
With a decentralized economy, we can have more influence and not rely on a centralized system that can exercise financial rights, users can have complete control over their funds independently.
The decentralized network is designed so that users do not need to interact with the banking system and only the market is intervened by a group of nodes that carry out transactions automatically, in this way users can control their money.
Profit:
The operation process is faster because you do not get permission from third parties.
Security and hidden identity of users.
Users from different countries can operate transactions at the same time.
Transactions are commission-free.
Secure transactions, ie money cannot be accidentally sent to another invalid address.
Transaction data cannot be changed, stored.
Decision making will depend on the user.
Lack:
There may be some type of fraud because they do not have a system of authority.
If you are not fully capable of carrying out the transaction, you can make mistakes due to lack of supervision.
You can not refund, if we are not careful when making transactions.
hello @crypto-01,
having responsibility for our coins is an idea that people still do not fully understand. i think it is because of lack of information or carelessness that we tend to think that someone else can take care of the failures. this behavior will disappear with time, we just have to be alert so as not to fall prey to a pirate.
Alert and thoroughness are needed in doing everything, so that we don't get caught up in things we don't want.
I think decentralisation is the nature of the blockchain. Although we have centralised blockchain as well but most of these are owned by specific companies and it's not for public. Making blockchain decentralised means giving more options to people so that they can access and be part of the revolution.