Steemit Crypto Academy Season 2, Week 1 post for @yousafharoonkhan

in hive-108451 •  4 years ago  (edited)

Hello prof,
I will like to congratulate you for being selected as a crypo professor.

wondex.jfif
source

DECENTRALIZATION
THese is the process where decision making is not done by one person or few people but rather every individual individual in an organization. Decision making are not done by any central authority.

CENTRALIZATION
These is the process where decision making in an organization is centered to the leaders of the organization.The leaders takes decisions and control those under them.

DIFFIRENCE BETWEEN DECENTRALIZATION AND CENTRALIZATION.

1)Decentralization allows individuals in an organizations to make their own decisions whiles in centralization decision are being made by leaders of the organizations.

2)In decentralization misunderstanding between leaders and their followers occurs easily whiles misundersanding does not occurs in centralization.

  1. Decentralization allows easy and quick decision making since leaders of the organitions are ones that make the decision.

ADVANTAGES OF DECENTRALIZATION
1)Employees under decentralized organizations are encouraged to give their best since they take part in decition making in the organizations.

2)Decentralization gives leaders time to focus on their work since every body in the organization makes his or her decision these helps reduce the work of leaders.

3)Decentralization helps in quick and easy supervision since organizations under decentralization are not control by one person or few people in the organization.

4)Decentralization guarantees transparency since it involves every body in decision making.

5)Investments in decentralized organizations are secured since it is transparent.

DISADVANTAGES OF DECENTRALIZATION
1)Organizations which are decentralized are expensive to run since every member of the organization works hard for the organization to develop hence members are being paid for their services.

2)There is uniformity in decentralization i sinnce every member makes his or her own decision.

3)The is no cordination among units under decentralized organizations since there is no body controlling them.

4)Decentralization may leads to conflict if not managed well.

5)Decentralized cryptocurrencies are volatile.

ADVANTAGES OF CENTRALIZATION
1)Operational cost of centralized organization is low since the top managements of the organization which are the decision makers are the only ones which are been paid by the organizations.

2)Decisions made in centralized organizations are implemented quickly since decitions are only made by the top managements.

3)Since there is supervision in central organizations it help increases the efficiency of workers.

4)Investors knows who their dealing with.

5)Centralization prevents frauds.

DISADVANTAGES OF CENTRALIZATION
1)Operations under centralized organizations are slowed down since only the top management controls the daily activities of the organization.

2)Dicision making are delayed since all the decisions in the organization are made by the executives only,because of this decision making is delayed.

3)There is presure on the top management of the organization since they control all the affairs of the organization,Which may leads to decrease in efficiency of their work.

4)Centralization may make employees un loyal to their leaders.

  1. Investors are not involved in decisions making.

** BETWEEN CENTRALIZATION AND DECENTRALIZATIONWHICH ONE IS BETTER FOR BUSINESS/TRADING AND WHY.**
As we know that both decentralization and centralization are not 100% perfect. There are advantages and disadvantages in both.Traders chooses the type of system to use depending on how they want to run their businesses.If a trader dont want to make his identity known to the general public dencentralization is the best to choose and also if a trader want transparency in his bussiness he or she has to go for centralization.
I will conclude by saying both are equally important.

HOW TO KNOW IF A BLOCKCHAIN IS DECENTRALIZE OR NOT.
I will be using Sushiswap to perfom the demonstration.
I used coinmarketcap to generate my contract address.

IMG-20210418-WA0029.jpg

After openining I copied the ethereum detail of the token.

IMG-20210418-WA0030.jpg
I used the contract which has been circled.

IMG-20210418-WA0034.jpg
I copied the code and past it at Etherscan.

IMG-20210418-WA0033.jpg

IMG-20210418-WA0031.jpg

From the result above it shows that Sushiswap is Decentralized.

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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 have read your assignment very satisfactorily

  • you did not explain few question in detail

  • last question was missing coding area detail

grade : 6