Introduction

This is my 2nd task of the crypto academy ,and I’m very glad to participate in the crypto academy season 3-task 2 beginner’s course to be Precise.Studying the professors lessons,and doing research to find answers to his homework is fun and it’s really giving me more knowledge than I can even imagine.

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_{Above Is A Diagram Showing The Decentralized System}

DEFINE DECENTRALIZATION DESCRIBE THE ADVANTAGES AND DISADVANTAGES OF A DECENTRALIZED SYSTEM.IN WHAT AREA OF LIFE CAN A DECENTRALIZED BLOCKCHAIN BE HELPFUL?(WRITE IN YOUR OWN WORDS)

DEFINE DECENTRALIZATION

Decentralization is a system through which users are given almost full control by the top level managers or authorities to make their own decisions ,in this case everyone is his or her own boss.It is the direct opposite of centralization.

DESCRIBE THE ADVANTAGES OF A DECENTRALIZED SYSTEM

Decentralized system have more advantages than disadvantages because of it’s quality,and some of them I know are:

•Easy in decision making
As you are in control,you don’t need to ask for permission before taking any decision.So this makes it easy to make decision.There is no one telling you must do this or that ,so you can do anything as many as you want anytime.

•Freedom
The user is given free will to do anything he or she likes.You can do anything at anytime according to your will.You will not fear to be banned because you are free to do as you wish,except some few restrictions.

•Security
The security is very tight,and it’s know to have the most eligible security,example the blockchain,changing information on the blockchain is impossible.Your information stored in a blockchain cannot be tempered with by any one.

•Financial Freedom
You can do transactions as many as you want,and even to anyone you want to send to without being stopped.

•Voting Equality
Power to vote is given to everyone equally,so it’s one man with one vote on a post,making everyone equal in the aspect of voting.For instance on Steemit,everyone have one vote per post.

DISADVANTAGES OF A DECENTRALIZED SYSTEM

Almost everything have good and bad side,so although decentralized systems are of quality it has a few disadvantages which are:

•Bad decisions
As there is freedom,there won’t be boundaries to restrict people to take bad decisions as well.So there is a high tendency of making bad decisions in this system.

•Irreversible
As user a free to do what they like there is high tendency of making mistakes and if you make mistakes in your transactions,it can’t be reversed.

IN WHAT AREA OF LIFE CAN DECENTRALIZED BLOCKCHAIN BE HELPFUL

•Excellent Supply Chain
Companies use it to track and supply their merchandise and other things.They also use it to know the conditions of their products which helps them know how to supply their goods successfully with no damages.For instance De Beers which is an international cooperation that specializes in mining diamonds is on the move to use the blockchain technology to track down diamonds all the way from the mine to the clients,helping them make successful supplies.

•Banking
In the banking sector,they use the blockchain system to supervise their activities and check for hackers and intruders.

•Hospitals
It will make finding of files of patients easy,because if files of patients are saved in the blockchain system and every hospital decides to use the same files,then a patient’s file can be assessed by any hospital at any time.

•Education
If all the schools either nationwide or worldwide accept to use the blockchain system to store their students results in it,so that it can be assessed by anyone interested in them to help avoid the way students throw their results away helping them hide it from their parents.But if their parents can access them through the blockchain system,it will do a greater good to know about their ward’s performance,which they will take decisions to help improve their performance at School.

Conclusion

I have learnt a lot from the beginning of this lesson to the end ,and I wish these tasks given to us never ends ,because it’s exciting to do and I really love doing it.I know for sure that decentralized system will take over soon because of its wide range of benefits.

I say thank you @yousafharoonkhan ,one of the best lecturers for giving me lectures I didn’t have knowledge about.I say thank you again.