Question No 1 :

Write the definition of Decentralization and Centralization in your own words. Explain these two systems in your own words.

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Decentralization

The term decentralization simply talks about how power and how individuals have the sole right to share their views or make decisions without any interference. In this case not only an individual makes all the decisions at hand or an organization. But looking at a blockchain, any person who is involved has some kind of power to make decisions which is very important in a decentralization system,

If I were to explain decentralized systems in my own words I will say that, Before a blockchain can be considered decentralized, there should be some kind of freedom of speech and power transfer, also there should be a right of decision making without interference It is a fact that, when a system is decentralized, then everyone involved is given the power to make decisions on their own and not the system to dictate what should be done.
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Centralization

Haven explained what decentralization is, lets come to look at what centralization is and how it also works.
We can look at centralization to be a system in which power is given to people in higher authorities, the system is made such that, it has a decision-making body that is connected in a way to the system who then sit to decide what is done and the this happens its term, centralized system.

Looking into the image you would see how the system is centralized in centralization, unlike in the other image where you see the lines are crossed to all users showing how power is decentralized, in this case, is different.

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Question No 2 :

Explain in your own words the difference between decentralization and centralization system Or Compare both in your own words

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• Comparing these two system would give us a clear and better understanding of how both of them are used in the field of work,
  Comparing these two systems in the blockchain aspect, we know that in centralized blockchains, cryptocurrencies serves as a medium of transfer of funds from one to the other so this means that in centralized systems the user's fund is under the control of the centralized blockchain but on the other hand, decentralized blockchains systems, the person involve or the user can control his funds without requesting for mention unlike in centralized where you must ask for permission before taking the next step.

• Comparing these two systems under the look of administrative purpose, the decentralized system turns out to be the strongest and the most reliable amongst all since the decentralized blockchain is not stated categorically to be own by any authority or any individual involves the concert of all users working on the system whereas in the centralized system power is own by individuals. This breaks it down to users of the decentralized system being on a safer side if the operators decide to shut down the network unlike in centralized where people would be harmed massively.

• Another comparison we cannot skip away is the fact that in the centralized system it is very easy to use and work with since decision making wouldn't be a problem and taking time to decide onto what should be done, it is clearly stated by the individual and what should be done but unlike in the decentralized system, it is very difficult to work with sometimes since decision making is hard to come by.

• Another important factor that cannot be looked away from is the fact that changes can be made in decentralized systems which is very high while is low in a centralized system. We all know that when many people make decisions there would

Question No 3 :

Write five Advantages and five Disadvantages of a decentralized and centralized system.

I must tell you the advantages and disadvantages of both systems, where they all fall short and where they all perform better.

Advantages Decentralization.

• One advantage I will like to talk about in decentralization systems is that, in decentralized systems, your funds are well saved since it's only the user who can know what his transitions are or what to be used for.

• Also we can say that in decentralized systems, there is no much burden on authority or management since everyone could be his manager.

• Moreso, transfers of power starts at a lower stage moving onwards

• last advantage I would like to talk about is the fact that in decentralized systems the funds are safe which makes it very difficult for hackers to override the system and take away the funds.

*Lastly, customer relation increases more than expected in decentralization.
Disadvantages of Decentralization

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It's clear that in every system there should be a place where it falls short which is what I will be explaining. In a decentralized system, the system is very high in terms of cost since it should be made in such a way that everyone is the boss of what he can do in the system. Moreover, also noticed that there could be some sort of crime scenes since funds are involved

Advantages centralization

• In centralized systems, decision-making is very simple, there isn't any form of hardship related.
• Also in the centralized system, every user has the same goal to deliver or they all want to achieve the same purpose.
• Besides, in a centralized system, prioritization of authority is considered and this kind of decision is mostly considered quickly
• Also, in centralization, decisions of the same commands given by authority are followed.
• Lastly, users involved report to the same authority

Disadvantages of Centralization

We cannot also look at the advantages of this type of systems whiles avoiding where it also falls at a peak
As we all know, in centralization, security is poor which makes it simple for hackers to penetrate through the system without difficulties. Also, we can mention the fact that in centralized systems all users have the same rank, this means that all users are treated as equal since they all have to report under the same authority.

Question No 4 :

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Which one is better for Business/trading and why? (write-in own words)
In my case, I think I will go for a decentralized system.
Although looking at the disadvantages of it, it falls a bit but let's look at the advantages, we go into business or projects purposely to make an outcome and since in this type of system attackers wouldn't be able to hack and take away funds should be a plus to this system unlike in the centralized systems. Also, for people to work effectively for you, you need to give them the necessary freedom sometimes, allow them to bring their ideas to create change but always dictating for them would sometimes get them tired of what is being then. This would be my reason for choosing a decentralized system for any business firm that will come into play.

Question No 5 :

How do you know if a blockchain is decentralized or not? You can describe any method but in your own words.

To know if a blockchain is decentralized you need to follow these steps.

1.logged to google using this URL https://etherscan.io/

Once the site loads, a search box will appear where the token contact address should be typed and then proceed

You will see a dialogue box with code details of the token contract address. This are will show the coding detail about blockchain whether it is administration or self destruct or decentralized and that is how you can go by when you want to know about a blockchain site if is centralized or decentralized

Thanks to Professor @yousafharoonkhan for the lecture handout, it was quite simple and understanding

Thank you for reading