Homework on Consensus - Questions

Blockchain and Bitcoin 101
#6270

1. What does it mean when we say that in blockchain, consensus determine the truth?
Ans : Since in Blockchain we do not have a central authority taking care of all decisions, it becomes important to form a rule for all connected nodes or computers to verify the transaction. Since multiple nodes are involved in taking decision for authenticity of a transaction, there must be a defined set of rules which they should follow in order to verify a transaction. This rules in other words are consensus. Since all nodes or computers in the network follow the same set of rule to determine authenticity of a transaction, we can say that this determine the truth.

2. How is this different from how truth is determined in a central database?
Ans : As mentioned in previous answer, a central database is governed by a central body and they are the ones taking crucial decisions. An organization run by a central authority might not disclose the authenticity of their decisions, reasons behind their decisions. So there is no transparency of decisions, where it comes a different

#6271
  1. Consensus determines the truth by incentivising to tell the truth. There can be no “lying” as everyone would have to lie also, and there are no rewards for lying.
  2. A central database is under central control and consensus has to be reached.
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#6272

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Consensus determines the truth simply refers to the blockchain network reaching an agreement on the validity of the state of the blockchain. It does this through a decentralized network of nodes, the verification of new transactions and consensus mechanisms (such as Proof of Work or Proof of Stake). By requiring consensus from a large amount of nodes, the network can verify a single version of the truth, a consensus.

  2. How is this different from how truth is determined in a central database?
    In a central database, truth is determined by the central authority that manages and controls the database. This authority has the power to make changes, update records, and establish the validity of the data.

#6273
  1. What does it mean when we say that in blockchain, consensus determines the truth?
  • The only new blocks added are ones the network of validators determine are accurate providing incentives the validator pool is supported and increases the strength of the validator pool.
  1. How is this different from how truth is determined in a central database?
  • A central database is able to be audited and manipulated by the own of the data base or is susceptible to interference by some third party because there isn’t a validator pool to validate the data.
#6274

What does it mean when we say that in blockchain, consensus determine the truth?
Each single participant of the network will check in its own copy of the blogchain, if a new transaction is true or false. Only if there is a agreement on a transaction it will be agreed on and allowed to be written on the blog.

How is this different from how truth is determined in a central database?
Because all “decisions” are made together it creates a trustless system and reduces the possibility of manipulation drastically.

#6276

1/ Each node has a copy of the distributed database. If there is inconsistency between them in any particular transaction attempted, it will fail making it very difficult to manipulate particularly since transactions cannot be reversed.
2/ A central database is opaque and so is not trustless since whatever happens in it is determined by who controls it.

#6277

1/ Each node of the BC has to agree with the outcome.
2/ A central database is controlled by a central entity over which there is no control or way of verifying the outcome or historical transactions.

#6278

  1. The blockchain saves each and every transaction and the data is immutable. Through the whole network of decentralised computers around the world, that all have the public ledger, it will be verified whether a certain claim is true or not. If all of the computers (or a certain threshold amount of them) verify the claim, it’s a consensus.

  2. A central database is not immutable and can be manipulated by actors that have access to it.

#6279

  1. Means all information and transaction are verified/agreed by multiple nodes that verify the blocks to the chain.

  2. It’s different from a centralized database because you can’t control. Where as a control data base you can input false information.

#6280

1- Means that the truth is agreed by the people.

2- Central database has a group of people or someone that control over the network

#6281

Homework on Consensus - Questions

  1. Consensus is the main pillar of the blockchain, through it the entire network is incentivizing to verify what is a correct transaction/record and what is not. This is eliminating the need for trust.

  2. On a central database, people need to trust that the record keeping is done correctly and trust that transactions are done accordingly to the books, which creates a dependency and a high level of trust and good will in those databases.

#6282

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All the miners have the same ecords on the blockchain. All the miners blockchain databases have to agree that it is true.

  2. How is this different from how truth is determined in a central database?
    It is just accept. Truth on a database is controlled by people that hace the admin authority.

#6283
  1. Consensus determine the truth means that all the decision are taken together
  2. It is decentrelise and immutable
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#6284

  1. What does it mean when we way that in blockchain, consensus determine the truth? Ans: All the decentralized nodes are incentivized to tell the truth my making money and they will be punished (ie., losing money) if they lie. So, all the participating nodes will communicate to one another to generate a consensus before agreeing and approve the block formation.

  2. In a centralized database, there is only one node (ie., the centralized node), and no external parties that check the validity and integrity of the data in the database. We have to blindly trust the central institution that maintain the database on the data validity and integrity.

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#6285

  1. What does it mean when we say that in blockchain, consensus determine the truth? All the participants in the network reach an agreement on the information to be included in a block, thus achieving consensus. They receive incentives for their participation.

  2. How is this different from how truth is determined in a central database? In a central database, a single party has the authority to make decisions, which makes it susceptible to manipulation.

1 Like
#6286

Consensus will be provided trough the network of users. Everybody will verify if a action is valid.
in a centralized environment one entity could decide if something is true.

#6287

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    The network must reach a consensus on what is true and what is not. This truth is determined collectively by each node in the network. Once a consensus is reached, miners add the agreed-upon transactions to the blockchain, where they become immutable and cannot be altered, becoming the truth.

  2. How is this different from how truth is determined in a central database?
    In a central database, the truth is centrally controlled and can be altered. These changes may not be transparent or verifiable, meaning we need to trust the centralized authority managing the database.

#6288

  1. Consensus determines truth through a global network of nodes, collaborating to determine whether a transaction is true or false, independent of human bias.

  2. No one person or entity has the authority to modify, delete, or intervene with regard to any transaction in a decentralized database.

#6289
  1. Each computer in the network needs to agree on what is true and what is not. Each computer needs to agree if a transactions should be added to the blockchain or not. So if every computer agrees, then that is the truth.
  2. In a central database, what is added to the database that is the truth. If somebody adds false information to a central database, then that is the regarded as the truth, even though it is false.
#6290

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus determines the truth due to several factors. First, a network of computers/nodes is required for determining whether a transaction is true or false, without human intervention. Second, participants are incentivized to be truthful for economic benefit. This allows blockchain to be “trustless”.

  2. How is this different from how truth is determined in a central database?
    The central database carries risk of immutability of data, since it is possible for the data to be altered by the party in control. Because it does not require a network of computers to agree that information is regarded as truth, then it requires trust that the entity decides that such information is true and is not “trustless”.