Great explaination! Thanks alot!!
Functionally, these different types of centralization are distinguished primarily by their relative efficiency. A centralized system reaches consensus very quickly because it offers no opportunity for conflict, meaning that the system does not waste resources resolving disagreements. A decentralized system is much less efficient because each transfer of information provides an opportunity for conflict and the network must expend resources to resolve these conflicts. In a quasi-decentralized system, only a few highly collaborative nodes, called witnesses, participate in consensus building. This system allows for stringent rules of collaboration between witnesses, and those nodes who do not follow these rules risk permanent loss of their witness privileges, which may include generous compensation.