Is this right about feudalism?

"The feudal society was constructed for one reason: security. The nobles wanted the security of maintaining control over their far-reaching kingdoms, so they were forced to delegate power to local control. The peasants wanted security from marauders and barbarians from neighboring lands. They also wanted security from invading armies. And thus the development of the feudal system and the fief structure was almost inevitable. However, all this came at the great expense of the common man. He gave up many freedoms for his security"