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Hello Steemit people, a pleasure to greet you today I will be sharing my homework after having seen the class of Professor @yousafharoonkhan, in which we should talk about what is a decentralized platform and a centralized one, so here I leave my understanding on this interesting topic.

1) Write the definition of decentralization and centralization in your own words. Explain these two systems in your own words

According to what little I understand, I see that a centralized system is something that is governed by a governance, which does not have the power to decide on its own but must go to a higher authority and follow its guidelines. For example what happens in banks, all users must wait for the decision made by the president or the highest authority in a bank, you can say that we do not own our own money.

And a decentralized system is the opposite, it is managed through the autonomy of the users, where everyone has the power to make decisions about their assets or money, in this case it would be about their cryptocurrencies. We should not be governed or wait for the approval of a third party or perform operations through an intermediary, but it is person to person.

2) Explain in your own words the difference between decentralization and centralization system or compare both in your own words.

I think the difference between the two is very simple, because they are completely different, one difference is that in the centralized system we are governed by a ruler or higher authority for decision making, while in the decentralized system decision making is autonomous and each user has power over decision making.

Another difference is that the centralized network is unreliable because it works with only one server, while the decentralized network works on the basis of many servers and generates more confidence when it comes to suffer a hack is much more difficult to happen.

Another difference is that in the centralized system you will always be asked for identification in order to access the system, while in the decentralized network the identity is anonymous.

If we talk about transparency, the decentralized system gives us greater transparency because it allows us to see all the transactions that are made with our funds and we can see where they go, whereas with the centralized network this does not happen, because the ruler knows where our funds go when we talk about commissions charged.

In a decentralized network all the information is managed in the blockchain world that includes our data on all the operations performed and it is something that no one can modify, instead in a centralized network only the ruler can have the power to access and change or modify our data if required here.

3) Write five advantages and five disadvantages of decentralized and centralized system.

• Advantages and disadvantages of the decentralized system.

1. Advantage: The exchange between cryptocurrencies. Disadvantage: Not all exchanges can be made with all cryptocurrencies with each other.

Advantage: Transparency gives us security in terms of knowing where our money is going. Disadvantage: That this transparency generates possible failures of hacking or scams, because everyone sees our transactions and our capital.

Advantage: Having power over our money and knowing how to manage it. Disadvantage: Not knowing how to recover the money if a transfer is made to a wrong wallet, so that money is considered lost.

1. Advantages: Thanks to the blockchain system and that all our data is stored in the server which is connected to other servers it is almost impossible that someone can modify or alter our data in the database. Disadvantage: The volatility that exists in the world of cryptocurrencies, as well as we can win we can also lose.

2. Advantage: The blockachin system allows you to make transactions in less than 3 seconds, so you do not have to wait a long time to receive your money or make an exchange. Disadvantage: Not all the time there is high liquidity in this system.

• Advantages and disadvantages of the centralized system.

Advantage: Having a single decision-making authority makes it much easier to reach an agreement between the parties. Disadvantages: You have to abide by the decisions made by the governance.

Advantage: The use of a single server allows you to find information faster. Disadvantage: The use of a single server can lead to the alteration of a user's data without their consent.

Advantage: The great liquidity that exists in banks. Disadvantage: The use of a single currency governed by one ruler.

1. Advantage: Knowing the data of the people to whom a transfer is made and being able to have the option to recover your funds. Disadvantage: That we do not know where our money is going or the commission funds of our money, so we have no power over it.

2. Advantage: Manage all the same information. Disadvantage: We have no power in decision making, we only have to be governed by the highest authority.

4) Which one is better for business/trade and why? (write in your own words)

I think the best system for business is the decentralized system, because it offers us many benefits and advantages compared to the centralized system, every user can own their money, that includes business owners, they have the power to invest their assets in any cryptocurrency market, no high taxes should be paid for the high profits they generate, greater ease of payment when acquiring products. Transparency in all transactions made. Power to double your profits and keep them safe.

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

This time I will be doing the same example as the professor, but I will be using the TRONSCAN application with the UDST currency.

We go to the TRONSCAN application and on the home page, we look for one of the currencies we want to validate, I chose the USDT and clicked on it.

After the currency information opened, I clicked on contract.

Then we will see if the currency is centralized or not, here we see how the code appears.

**The screenshot images are of my authorship made from my computer.

@yousafharoonkhan

I apologize to the professor for my presentation, but I suffered a lot with the Steemit update, now I don't know the formats to fix my presentation.

Thank you for your support!