Hello everyone.
Keep your face always toward the sunshine, and shadows will fall behind you and I will like to give thanks and praises to the almighty God for adding me another day and i came across this topic and i taught it will be of help to us to just want to used this opportunity to share with you on decentralized system and centralized system.
WHAT IS DECENTRALIZED AND CENTRALIZED SYSTEM
A Decentralized system is a process in which the activities of an organization especially those concerning planning and decisions making is in the hand of individuals and there is not central authority in decentralized system example of decentralized system is Bitcoin etc
A Centralized system is a system in which the activities of an organization particularly those regarding planning and decisions making is in the hands of the central authority example of a decentralized system is bank etc
WHAT IS THE DIFFERENCE BETWEEN DECENTRALIZED AND CENTRALIZED SYSTEM
- In decentralized system planning and decisions making is made by the individual while in the centralized system planning and decisions making is made by the central authority
- In decentralized system individuals enjoy freedom while in centralized system individual not enjoy freedom
- In decentralized system there is no central authority while in central system there is central authority
- In decentralized has direct assist of their assets while in centralized system individual don’t have direct access over their assets
WHAT ARE THE ADVANTAGES OF DECENTRALIZED SYSTEM
The following are some of the advantages of decentralized system
- It promotes motivations among individuals
- Easy in making decisions
- It reduce on the load on the central authority
- Individual is being able to take control of his funds very well.
- There is not central authority everything is done by the individual.
WHAT ARE THE DISADVANTAGES OF DECENTRALIZED SYSTEM
The following are some of decentralized system.
- Is lack of qualified managers
- Decentralized system it waste resources
- When you are making transactions in a decentralized system and you mistake forgotten your private key or you mistake share with anyone it’s very difficult to get it back
- Difficulty for the individual to come together in making decisions
WHAT IS THE ADVANTAGE OF CENTRALIZED SYSTEM
- When you are making transactions or when you mistake loss your keys is easily to get them back.
- When you are making transactions and you are bit confused there is a third party system who will assist you to do the transactions.
- When setting up centralized system involves lower cost
WHAT IS THE DISADVANTAGES OF CENTRALIZED SYSTEM
- Because is in the hands of the central authority individual don’t direct control of their assets
- It usually take time to be able to make transactions
- Making a decision is done by the central authority so individuals don’t have freedom over their assets.
CONCLUSIONS
In decentralized system individual enjoy freedom and in centralized system individual don’t have freedom over their assets and i will like to thank each and everyone of you for taking your time and energy to always go through out my post.