Decentralization is the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group. When power is taken away from the Central and State governments, and given to the Local governments, it is called decentralization. The basic idea behind decentralization is that there are a large number of problems and issues which are best settled at the local level.
For example, the military has a centralized organization structure. … In a decentralized organization, lower levels in the organizational hierarchy can make decisions. An example of a decentralized organization is a fast-food franchise chain. Each franchised restaurant in the chain is responsible for its own operation.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement.
What Is Decentralization In Hindi | Blockchain Technology | Smart Contract | UFC
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