Topic: Centralized and Decentralized (Read 190 times)

Wow. Interesting piece here.

Well,  in my opinion decentralized exchanges are preferable,  this is because I am in custody of my private key.  I control my wallet,  non of my details sent out.  Looking at the centralized exchanges,  alot of them require so much details from users.  Even with that, If the exchange is hacked investors funds are gone.

Cryptocurrency field, bitcoin rules which are the first decentralized peer-to-peer payments network that is fully controlled by its users without any central or intermediate authority. Pick centralized than decentralized when it comes to using an exchange to get with customer support when something goes bad. Centralized and Decentralized each have advantages and disavantages depend where is to be used, but for me decentralized more better than centralized, my reason are very simple, mostly we are here to learning  about how to earning, maybe with trading or follow the bounty hunters ICO ,thats all is work on cryptocurrency platform, and cryptocurrency is one of decentralized product. The Core developers can develop whatever they want, but the nodes have to run that software for it to be accepted. What comes will stand.

In my opinion we should heed the bitcoin rules which are the first decentralized peer-to-peer payments network that is fully controlled by its users without any central or intermediate authority ...

bitcoin is pseudodecentral it has also a controlling centre

IMHO centralised cryptocurrencies have very limited appeal. As long as there is some institution/organisation/person/entity who can censor/undo transactions, there is no efficiency benefit over using RPC and databases.

Centralized means with a controlling authority such as the government,independent body or corporation to monitor and regularizing for its proper working and maintaining the object in the order..Decentralized means that there is not any controlling authority over it such as the bitcoin so it can be operated world wide through the internet.There will not be any type of the controle over it such as the government , Reserve bank or any controlling body to monitor the above.

I am more interested in the design of the special currency. If a project is to be operated on a large scale, its decentralization is necessary. Only in this way can it be more central, and the centralized coin will be restricted in the future.

I always compare Ethereum and Bitcoin, when we discuss this topic. In a centralized authority environment, you have a single individual or a small group of people that make the most of the decisions.

On the other hand, you have Bitcoin with true decentralized authority, where decisions are based on true consensus from the general public.

The Core developers can develop whatever they want, but the nodes have to run that software for it to be accepted. 

what you say doesn't really make much sense. you can't really compare centralized with  decentralized like this and say one is better than the other. for example a decentralized bank doesn't even make sense but a  centralized bank (what we simply call banks) are good and trusted and we used them and have money with them. on the other hand a centralized bitcoin doesn't make any sense either, it must be decentralized to be worth anything.

and regarding "earning" that is what you do not everyone else. earning should be your secondary goal if you understand what a currency is!

I'm really confused about this post, where you got this kind of information.

i think the OP didn't talk about the exchanges, but cryptocurrency itself. crypto is decentralized, so it is free from monopolize or control by one.
The decentralized concept make the holders of cryptocurrency have a right and freedom how to use their cryptocurrency.

speaking of centralized and decentralized systems it always depends on the system itself to compare them and say which one is better. in my opinion when it comes to a cryptocurrency that is created by someone or some group of developers it is meaningless to make it centralized. which is why centralized altcoins are considered shitcoins by all the market participants. it is simply because centralization requires trust and people aren't going to put their trust in a bunch of people when there is trusted centralized currency called fiat issued by the government.

Not sure if you were drunk while writing this or you are here just to spam the forum. Why would you want crypto currencies to be centralized. Decentralization is one of the most important feature for crypto currencies. Cryptos were actually first made so that people can have control over their own coins with no third party involved. If you are fond of centralized currency, then just use fiat and the traditional banking system. Crypto currencies would be pointless to you.

Centralized and Decentralized each have advantages and disavantages depend where is to be used, but for me decentralized more better than centralized, my reason are very simple, mostly we are here to learning  about how to earning, maybe with trading or follow the bounty hunters ICO ,thats all is work on cryptocurrency platform, and cryptocurrency is one of decentralized product. CMIIW

In crypto currency field, I prefer a centralised than decentralised when it comes to using an exchange so I can get with customer support when something goes bad.

For a true cryptocurrency like bitcoin, decentralization with trustlessness is the most important criteria for it to keep functioning the way it is meant to. The network resources should not be concentrated. This allows to avoid interference, both external and internal.

The decision making has to be in the form of permission-less development. For a long time, development in bitcoin has taken the form of BIPs. These can be proposed and forwarded by anyone and then are discussed thoroughly by the developer community. Bitcon's code hold billions in value today and are our chance at a truly decentralized cryptocurrency with no master. No wonder that making changes to it are a bit difficult than normal and any changes have to undergo huge amount of vetting.

The decision making is further dependent on consensus which is an evolving social phenomena in today's world of social engineering. A lot of the facets in bitcoin are still unfolding. Bitcoin leads, the others follow. Sadly, most of the time they compromise on a lot of requirements for decentralization.

Centralization and Decentralization are the two types of structures, that can be found in the organization, government, management and even in purchasing. Centralization of authority means the power of planning and decision making are exclusively in the hands of top management. It alludes to the concentration of all the powers at the apex level. On the other hand, Decentralization refers to the dissemination of powers by the top management to the middle or low-level management. It is the delegation of authority, at all the levels of management.

To determine whether an organization is centralized or decentralized greatly depends on the location of decision-making authority and the degree of decision-making power at lower levels. There is a never ending debate between these two terms to prove which one is better. In this article, significant differences between Centralization and Decentralization, in an organization is explained.


Comparison Chart
BASIS FOR COMPARISON                                             CENTRALIZATION                                               DECENTRALIZATION
Meaning                                                  The retention of powers and authority with respect              The dissemination of authority, responsibility  is
                                                               to planning and decisions, with the top management,          and accountability to the various management
                                                               is known as Centralization.                                                 levels, known as Decentralization.
                                                                
Involves                                                  Systematic and consistent reservation                                Systematic dispersal of authority.
                                                               of authority.   

Communication Flow                                  Vertical                                                                         Open and Free

Decision Making                                          Slow                                                                                 Comparatively faster
Advantage                                                  Proper coordination and Leadership                                 Sharing of burden and responsibility
Power of decision making                          Lies with the top management.                                         Multiple persons have the power of decision
                                                                                                                                                      making.
Reasons                                                  Inadequate control over the organization                         Considerable control over the organization          
Best suited for                                          Small sized organization                                                 Large sized organization

To determine whether an organization is centralized or decentralized greatly depends on the location of decision-making authority and the degree of decision-making power at lower levels. There is a never ending debate between these two terms to prove which one is better. The significant differences between Centralization and Decentralization is explained.

In cryptocurrency as we all know since it involves a widespread of an organization and different countries are particpated so decentralized form of currency is the best way to make any transactions. To those who wonder and think that centralization is better then take this scenario in ancient times, people used to run their organization in a centralized manner, but now the scenario has been changed completely due to rise in the competition where quick decision making is required and therefore many organizations opted for decentralization.

So which is better?

At present, most of the organisation are equipped with both the features, as absolute centralization or decentralization is not possible. Complete centralization in an organisation not practicable because it represents that each and every single decision of the organisation is taken by the top echelon. On the other hand, full pledge decentralization is an indicator of no control over the activities of subordinates. So, a balance between these two should be maintained.

At least i learned too about decentralized and centralized.
resource: https://keydifferences.com/difference-between-centralization-and-decentralization.html#Conclusion