Hello..!!
My Dear Friends,
This is @ariful1998 from 🇧🇩Bangladesh

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Assalamu Alaikum. Today, for the first time, I did my homework at Steemit Crypto Academy. First of all I would like to thank Professor @yousafharoonkhan sir for presenting such a beautiful article. Sir has beautifully presented about decentralization and centralization which I learned a lot from reading.

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source

Question no 1: Write the definition of decentralization and centralization in your own words.Explain this to systems in your own words.

Decentralization

Decentralization refers to a structure of an organization or organization in which all the activities of that organization are vested in all the officers and employees from the highest to the lowest. In a decentralized system, power and decision-making are not controlled by a single person or organization, but everyone involved in blockchain and business has decision-making power.
In my own words, a decentralized system is a system in which everyone has freedom of speech and everyone is independent in their decisions and power is transferred from top to bottom.

Centralization

Centralization  is the opposite of decentralization. Centralization refers to the structure of an organization where decision-making power is limited to the top authority of the Central Board of Directors and the subordinates of this organization have to follow the instructions of their seniors.

Question no 2: Explain in your own words the difference between decentralization and centralization system or compare both in own words.

Difference between decentralization and centralization

Decentralization and centralization are two ways of working  in any organisation. There is little difference between decentralization and centralization.

• The decentralized system is the most reliable because it is not a sole proprietorship because all its users can run the decentralized system from connected to different parts of the world through blockchain servers, but centralization does not have this opportunity.
• This decentralized authority is divided at each level.  On the other hand, the central government maintains the authority of the top board.
• Centralized can be used very easily whereas decentralized cannot be used easily.
• In a decentralized system the record is not kept in one place but in different servers through blockchain so that the data cannot be easily exchanged, whereas in a centralized system the data is kept in only one server and the people at the summit can change this data if they wish.
• Suitable for decentralized large size companies, whereas centralized is suitable for small size companies.

Question no 3: Write five advantage and five disadvantage of decentralized and centralized system.

Advantage of decentralization

• Decentralization reduces the workload of high-ranking officials and puts the workload on the shoulders of their subordinates.  As a result, high-ranking officials are freed from overwork.
• As a result of decentralization, everyone from the highest level to the lowest level has the responsibility to work and everyone can do that work independently, so they have the opportunity to develop their talents.
• Decentralization allows any work to be done smoothly because in decentralization everyone from the highest to the lowest has the ability to work independently so he can do the work smoothly at his own risk.
• The decentralized system is secure and has a zero percent chance of being hacked.
• Decentralization increases their morale so that everyone from the highest to the lowest can make their own decisions.
  Disadvantages of decentralization

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• As a result of decentralization, it is not possible to do any work in one policy, everyone works according to their own talents and principles.
• Moreover, since the authorities cannot take any decision alone, it is too late to take any decision.
• Moreover, the market system has not kept the price stable, so there is a big problem.

Advantage of centralization

• A centralized system has a specific command, meaning that lower-level officials follow instructions given by higher-level officials.
• Centralization makes it possible to implement any decisions quickly.
• In a centralized system, everyone has to hold their superiors accountable for their work so that they can do their job well and increase the quality of their work.
• Centralization reduces costs a lot.

Disadvantages of centralization

• In a centralized system only high-ranking officials can make decisions and lower-ranking officials cannot make decisions which later leads to a kind of frustration.
• In a centralized system, all the information is stored in one place so that hackers can easily hack it.
• In a centralized system, employees lack loyalty to their work.

Question no 4: Which one is better for business/trading and why?

In my opinion a decentralized system would be good for business. Although there are some issues with decentralization, I would prefer decentralized for business. This is because decentralized systems have many advantages over centralized systems. In a decentralized system, the workload is placed on everyone so that a task is performed smoothly. In a decentralized system, the information is stored on different servers with the help of a blockchain so hackers cannot easily hack them. In other words, if the decentralized system is used in business, the security system will be better. Moreover, in a decentralized system, everyone has to do their work properly in their own responsibilities, which increases the quality of their work. Having these advantages, I think the decentralized system would be good for business.

Question no 5: How do you know if a blockchain is decentralized or not you?

• First go to Google page and type etherscan.

• After searching the site a page will open.

• Then I will paste the address of the TLM talking contract. 0xE4635111791Fc9604c792e2031838C9300D52FE0

• After that you have to click on contract.

• After clicking on the contact, the following contact will show solidity in the source code.

At this stage it is clear whether it is decentralized or not.

Thank you very much Professor @yousafharoonkhan for reading my post.