Lesson 1: Centralization 🆚 Decentralization (USDT is not decentralized)

Core Differences:

• Centralization: Someone is in control, the platform makes the rules.

• Decentralization: No one can control it, the rules are written on the chain.

II. Common Representatives:

Centralized Platforms (CEX):

• BA

• OY

• HB

• CB

(Centralized) Features: Fast, easy to use, but assets are not completely in your hands; the platform can freeze your assets at any time.

(Decentralized) Features: Freedom, you manage your own assets, but there is a high barrier to entry and it's easy to be scammed.