Hey, all welcome back to my homework series of crypto school 😃. Today am here in this blog going to do homework for professor @yousafharoonkhan. Thank you professor for the beautiful lesson. Actually, my previous homework was incomplete So I decided to finish the incompleted portion. So let's get started ...
Understanding centralized and decentralized networks is an essential part of cryptocurrency. I feel it is necessary to know everyone about the advantages and disadvantages of Centralized and decentralized networks and How to find whether the blockchain is decentralized or not?.
The term center defines all. We all should need to depend on the authorized central one for each and every aspect.
In a centralized network everyone should need to follow the orders in a hierarchical structure. One should need to defend one another.
At a top of the network, there is only one authorized group or a person you can raise a question or he can able to change the data of the network.
Decentralised networks are not a single server it is a combination of multiple nodes.
Decentralised network has many advantages of centralized networking. Especially data can't be handled by a single person.
Decentralised network is inverse of centralized network it is not functioning in a hierarchical manner.
Comparison between Centralised network and Decentralised network
In a centralized network, it runs on the hierarchical structure so there is a sequential order of process. If an error occurred mean we can able to raise a question and get an appropriate answer for the raised questions. But in a decentralized network, we have no certain central authority. These networks run by multiple nodes we can't able to get an appropriate answer, in this case, I felt a centralized network is helpful over a decentralized network.
In a centralized network, the data are stored in a single server hence it can be changed by the appropriate authorities or powerful firewall breaking Technics. It can also be get erased by physical natural factors like wind water and fire. In decentralized networks nodes are running on different many nodes hence data can be retrieved. In this case, we find an advantage of a decentralized network.
In Centralised network governance run by a single head authority hence the chain link will not work completely active participation but in a decentralized network, all the participants are main members hence they involve actively.
Write five Advantages and five Disadvantages of decentralized and centralized system.
- In a centralized network we have the advantage of getting the right answer from an authorized person.
- As the authorized person will start to question the workflow will be continued.
- Decisions can be taken in a very quick manner. As decision-makers are the top authorized persons only.
- In a centralized network structure, it can focus on the fulfillment of its vision with ease.
- The data stored in the centralized network can be cracked and may able to edit the existing data.
- The top authorized person can able to take the full authorization of users if they have personal vengeance.
- Data are stored in a limited area may get destroyed by natural factors.
- As the server is run at a single area if it goes down everything will be down until it gets ready.
- Gives authority for many node leaders as hacking and phishing can't be possible on all the node runners.
- Servers didn't get down as many leaders running it.
- Data stored in multiple places hence lost data can be retrieved from another node.
- Here data can't be changed by a single person as it was decentralized governance.
- Some time we can't able to raise the question and get answers from the Decentralized network.
- Decision was taken situations to get very delay.
What would you choose fir business or trades?
I would like to choose the decentralized network to make a business or trades if the decentralized area got a huge volume and trust( just my opinion). In this kind of situation, we need a reputation as they will be 100% loyal to our duty. In a decentralized network, the function will run automatically even though when one of the nodes gets an error it will not create major issues. But it will not the same in a centralized network.
How do you know if a blockchain is decentralized or not? You can describe any method
Here to understand it very easy I am going to use our Tron network application and on it, we are using a bitcoin address to check whether centralized or decentralized?.
- Visit https://tronscan.org/ and you will find UI like below.
Use your blockchain contract address to get your result like below I have given the BTC address you can see that in the below screenshot.
- It will show some basics of the blockchain and details as shown in the below UI.
- Finally at below you can able to see the contract codes are visible hence it will show that blockchain is decentralized. This is one of the ways to know about your destination blockchain.
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Note:- All images used above are taken from pixabay which is copyright free.