The definition for centralization and decentralization.

Centralization in simple words is a system that is controlled by central authorities, the central authorities can make the decision to control the system in charge for any reason they wish. In a centralized system those in authority can decide to make changes not minding if the decision made is going to affect those involved or not.

Decentralization on its own simply means a system that cannot be controlled by any governing party at all, in a decentralized system no one is a boss that can give orders whenever they wish. In a decentralized setting, anyone who has an idea about the system can create its own blockchain and form its own community of a perfectly decentralized system.

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The comparism between centralization and decentralization system.

A centralized system is not transparent at all, it is only those who are in high rank in the centralized setting that are able to see all the political drama’s going on within the system but in a decentralized approach, everything going on can be seen by every user, there is no hidden financial charge or transaction every transaction is totally transparent for every user to see.

Five advantages and five disadvantages of a centralized and decentralized system.

Advantages of a centralized system.

With standard policies in place and a boss to please, there will be a higher chance of running day to day operations without any problem.

Activities within a centralized system most likely will mean that everything is properly coordinated and in order. Every one working in a centralized system often has a common goal to achieve to please a particular party unlike a decentralized system where people often think about growing their own platform.

Centralization is very common and easy for people to relate with and this simply interprets to be more buying and more selling in the process, this process of buying and selling is an improved economic activity.

Evaluation of task by each employee is easy in a centralized system and this is because there is a rule that governs every activity going on in the system so it makes evaluation easy for the leader in charge.

It is not easy to set up so we do not have different chains of the same operational system breaking forth every single day.

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Disadvantages of a centralized system.

A centralized system is created in a way that it destroys the reasoning ability of people, everyone in a centralized system simply takes order from a boss and they are often not permitted to make their own contribution.

A centralized system does not employ sufficient hands to carry out tasks instead they overload a small group of persons who find it difficult to carry out the task appropriately.

As a result of the high burden of work load, a centralized system often lacks staff who have a good customer relation, the over worked staff often pass their frustration unto customers.

In a centralized system, customers do not have a direct access to the business owners or bosses instead they only get to lay complaints and talk to the people who do not have access to making decisions.

In a centralized setting, it is most likely the boss who will make the complete decision and it might not even be the area of specialization of the boss so he might be unable to make good decisions and unfortunately the junior colleagues must obey.

Which one is better for Business/ Trading and why?

From the listed advantages and disadvantages of the centralized and decentralized system above I would not want to make a conclusion that there is a particular system that is perfect but I just feel that it depends on the organization in question, for some organizations the centralized system is perfect and for some others, the decentralized system is just perfect.

How to identify a decentralized blockchain.

Every blockchain is supposed to be decentralized but unfortunately that is not what we have so we have to look for a way to identify if a blockchain is centralized or decentralized.

We can check by using the method explained by professor @yousafharoonkhan by going to goggle page and typing https://etherscan.io after the site has been opened, users should simply paste the company token contact address after which the icon for contract will be selected, when this icon is selected there will be a displayed word in the contract source code which may either display words in the token area or not, if words are displayed in the token area without the token then it means the system is not fully centralised.

Thank you very much to the steemit team for this project and thanks to @yousafharoonkhan for the topic.