HOME WORK ON Steemit Crypto Academy Season 2, Week 1 for Proff @yousafharoonkhan || Decentralized and Centralized system , Advantages & Disadvantages and which one is best for bussness?
Hello pals.
It is really great to be part of this wonderful community.
Below.ismmy home work for Proff @yousafharoonkhan
Source: @yousafharoonkhan
ANSWER TO QUESTION ONE
To me having read and understood what decentralization is. I will say decentralization is authoritative in the sense that and individual have to make all the decisions on his/her own.
Decentralization on this sense is self bodied. The act to stand and act alone is known as Decentralization
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ANSWER TO QUESTION TWO
The Differences between decentralization and Centralization are not far fetch.
Having got to know the various meaning of both decentralization and Centralization we come to.agreeement that there both different.
Hence, thier Differences.
Decentralization & Centralization
- Decision making lies on an individual while Decision making is collective in Centralized
- In case of any damages an individual is to be blamed while The blame is put on the group or those in authority who made the decision
- Authoritative individual While Centralized is Authoritative Group
- Difficulty in use in decentralize while Centralized has easy access/Usage in Centralized
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ANSWER TO QUESTION THREE
like everything on Earth there are advantages and disadvantages. To start with I will like us to personally recheck or re-read the various meaning of both Centralized and Decentralized systems.
From there we already start to discover thier flaws.
These are their various Advantages and Disadvanatages.
Advantages of decentralized Systems
- Save funds systems and low chances of hacking
- Increase in relation customers or Block-chain users
- Data stored in the decentralized Block-chain cannot be edited by other external bodies.
- It allow workers to work at self program time and in their various custom zones.
Disadvanatages of Centralized system
- Easy reporting based on a direct source of command from the authorities
*Collaboration of people in command help eradicate the unneeded one's - Transfer of funds to the wrong people is eradicated with Decentralized finance
- All member work in one Accord
- Efficiency in performance
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#ANWSER TO QUESTION FOUR
After reading and and comparing both the Centralized and Decentralized Systems, I have come to a conclusion that I will go with Decentralized System for a business set up of my own.
This decentralized system only take Sharpe and works efficiently only in small scale business. More of a one man business.
Reason why the Decentralized System is choose here is because of it own handling and here the owner of the business gets to.msme his/her decisions without any external body. Both the favourable decisions or the unfavorable ones.
Here the owner stands to take the risk on his/her own and that is comforting enough.
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#ANSWER TO QUESTION FIVE.
To know wether a system is Centralized or Decentralized the following steps are required.
- Go to Google and search https://etherscan.io/
- After the page might have finished loading check for a search tab like the one below
- Now we check for VRGOLD (VIR) block chain wether decentralized or not.
Paste the code
0xB6F09f221d7a93390235d427c72fFFC4F3856a9F
As shown below
- After that, all you have to do is click on contract
- Then after its time to check contract code solidarity.
Above are the steps in checking if a system is Centralized or Decentralized.
Thanks for reading.
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Please Proff @yousafharoonkhan I wish to ask.
How do we get the VRgold code used in checking for decentralized or Centralized system?
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Thanks once.more for reading.
To the notice of.
@yousafharoonkhan
@steemitblog
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First respected student Thank you very much for taking participate in Steemit Crypto Academy Season 2, Week 1 course class..
i agree with your this line that if a person select bussiness under decentralised system then
In a decentralized system man does not stand alone but has a platform available to him under the decentralize system in which he can make his own decisions and take every step to improve his circle in his daily work. He is not alone, he has the whole system with him. You have chosen to decentralise the question. And you are right that man will be responsible for his own loss because he is independent in this system. You pasted the course shot into the homework while you practically had to do it yourself. There are grammatical errors in your homework and you have not mentioned the disadvantages of decentralise and advantages of the centralized system.
you also did not define the Centralization in first question, so it is very much necessary to complete the home, work to gain good marks thank you very much for taking participate
Rating : 4