DECENTRALIZATION VS. CENTRALIZATION
February 20, 2020 | Blockchain, blockchain programming, education | No Comments
Decentralization and transparency is one of the top benefits of using a blockchain protocol. The primary difference between a Blockchain and Database is centralization. While all data stored in the database is centralized, each participant on a blockchain has a secured copy of all records and all changes so each user can view the provenance of the data. Hence, your personal data is more secured on Decentralized Platforms.
Era Swap has developed a decentralized self-sustainable ecosystem, a peer to peer marketplace, where buyers and sellers can exchange services in a p2p mode without any third party interference. Era Swap Life is a single ecosystem consisting of multiple interlinked platforms created for Era Swap Community members where they can utilize their ES (Era Swap Utility), to buy and sell services.
Difference between Decentralized & Centralized Platform
- While relying on centralized platforms you have to trust them blindly with your data. Since it is a centralized platform, it means that all your data is under the control of these giant corporations, which can manipulate and have access to them totally.
- On a decentralized platform, you don’t have to worry about your data since decentralized platforms are synonymous with trustless. User doesn’t necessarily have to trust them because even if they want to access they cannot access users data since it is driven on smart contracts and stored securely.
- Centralized organizations can suffer from the negative effects of several layers of bureaucracy. This means whatever you buy or sell, the cost you may include hefty middlemen charges, which will be distributed among extra multilayer middlemen’s and corporations.
- Decentralized Platforms are known for their cut downs on costs and fees charged for various activities. Since decentralized platforms are powered on Blockchain, there are less of extra multilayer middlemen charges and more of transparency, security, and lower costs.
- Centralized platforms lack transparency because of its centralized nature. Because of its centralized approach, there is always a chance and risk to lose your data on the wrong hands. As well, because of its lack of transparency, the organization does not always notify users how and what they are doing with user’s data.
- Decentralized platforms are transparent with their algorithm and not be overly present false statements because they are willing to test and make improvements with the community. Whereas centralized platforms will never share their algorithm or be transparent about how and what they are doing.
If you think this is time we should stop being relied on a centralized platform or you want to give a decentralized approach a try. Do Create Your Wallet on https://eraswap.life/ and, become a part of the Era Swap Life Ecosystem.
To know more about our interlinked platforms check below article https://eraswaptoken.io/blog/era-swap-life-an-ecosystem-for-blockchain-based-solutions
YouTube Channel https://www.youtube.com/channel/UCGCP4f5DF1W6sbCjS6y3T1g