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Each party / node on the network is incentivized with money to be honest, and all decisions are made together by network participants. Cheating is not successful since all on the network are incentivized to be honest and since all must agree.
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There is no absolute incentive for a participant (or group of participants) to be honest in a central database, and in some cases there may be an incentive to lie instead. If one person is in control of the database, their truth may not be the real truth at all, and there are no trustless checks and balances. Think of all of the companies in the media regularly because they were caught lying to their customers or the public. A central database cannot be completely trusted.
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In blockchain it is many nodes on the network that work together to create consensus, which is verification that a transaction makes sense.
In a central database there is one authority that determines whether or not a transaction makes sense.
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What does it mean when we say that in blockchain, consensus determine the truth?
Blockchain consensus is achieved when all parties or nodes are in agreement that a valid transaction has been presented to the network therefore truthful. Example: The movement of Bitcoin cannot commence until the network has verified that the amount of Bitcoin within that particular address is actually available to be moved to another Bitcoin address.
How is this different from how truth is determined in a central database?
There is no incentive structure built into a centrally controlled database. The central controlling entity or authority simply claims that the data within is factual. A POW blockchain such as Bitcoin has a reward system built into it, to provide an incentive for all nodes on the network to remain truthful in the form of a block reward.
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1.Consensus determine the truth because in a blockchain all the parties in the node eq supply chain/network are incentivised to be honest and whoever cheat will be recognized by the party inside the system.
2.In a central database everyone has the possibility to alter the truth and it is almost impossible to check every passage . So the only solution for the consumer is to trust the database without knowing the real truth.
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1- By being a network of incentive people located in different places around the world verifying the same information leading us to achieve and common end, the truth.
2- Because is determinate by the whole community and not a central authority who’s can manipulate and hide the truth.
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- It meanse that all computers agree on the same information given. And when agreed they include it to the ledger. In this way we have several thousands of computers that agree on what is the truth not only one. This is the core of creating a trustless society.
2.In a central database the truth is determined by the owner of the database. This does not create at trusthlessness. Everyone can cheat and lie.
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the nodes determine if a transaction should be included on the ledger as a group.
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a single entity determines transactions accuracy and therefore can manipulate them.
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A1. Consensus is what maintains the integrity of a blockchain, and is obtained via a distributed network of computers often referred to as ‘Nodes’.
Consensus is obtained using financial incentives, Proof of Work being a large part, which rewards ‘Good players’ rather the ‘Bad’.
Consensus is what the blockchain uses to establish an agreed view of the state of affairs in the system, it’s state, the ‘true’ account of what has happened in the system (in about 10 minute time periods).
A2. Centralised databases are based on single view of the ‘truth’ , no one is able to check or validate these types of systems.
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The truth is something that is verified. Consensus is when several parties within the blockchain is reaching an agreement, that the transaction in question is real. When consensus is reached, it means that all parties have verified that the transaction is the real truth. Incentives (financial) are due the parties if they play by the rules. If not, they will experience a loss one way or another.
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In a central database the truth is not directly incentivized, which means that false claims can make more financial sense for the parties behind the central databases. Due to the fact that no consensus is required for the data to appear, we can not see this as the verified truth like the consensus in a blockchain. This forces us to trust, blindly.
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- because the network verifies that it is true. there is only incentive by being honest so verifying a ly will not make anybody rich and so only valid transactions are validated.
- a central database i guess has to be audited by a person or a company, a small group or just one person has the power to determine if all is correct or not
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It means that the agreement between nodes is made by the same algorithm so we don’t need a 3rd parties to determine the truth. It’s made automatically.
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In central database the truth is determined by trust we have on the authority which controle the database
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- What does it mean when we say that in blockchain, consensus determine the truth?
Because consensus is that all parties have to agree that the transaction is valid and they are given incentive to be honest. This makes it a trustless system. - How is this different from how truth is determined in a central database?
A central database is only accessed and changed for a certain group so it cannot be trustless.
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Everything on the blockchain has to be verified, to verify transactions a consensus needs to be achieved by all agreeing on the transaction.
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In a central database, anything can be modified or edited without needing permission or to be verified.
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Blockchain and consensus are integral you cannot have one without the other, a transaction has to be confirmed by a network of computers and when they all agree it is entered into the ledger. The network as to agree in order for the transaction to be verified on the blockchain.
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A centralised database is not trustless because when it is in the hands a few people or governments who may not have our best interest at heart, it can be corrupted and altered. Therefore it cannot be verified as a true record and we would just have to believe and not verify all transactions.
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It means that other computers on the blockchain are incentivized to do the correct math in order to receive a reward. The other computers on the network agree that the transaction is valid.
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A central database could have one entity that you have to trust. Meaning they can do whatever they want. Where as on a decentralized blockchain the other computers come to a consensus with math to make sure it’s legit.
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What does it mean when we say that in blockchain, consensus determines the truth?
A network of computers agree that a transaction has the funds available and that the transaction should be added to the blockchain.
How is this different from how truth is determined in a central database?
In a centralized database, the ‘truth’ can be edited and there is no incentive to tell the truth, other than nefarious reasons.
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What does it mean when we say that in blockchain, consensus determine the truth?
In blockchain when you say consensus determine the truth, it means everyone can be confident that its the truth because of consensus verification. All decisions are made together. several parties decide on something. -
How is this different from how truth is determined in a central database?
consensus is different from a central database because in a central database one representative or higher party can alter anything necessary for them.
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It means that the blockchain is relying on many different nodes to verify the information and not trusting one node. Many nodes in the blockchain can verify the data making consensus possible.
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By relying on many nodes to store the data, therefore the data can’t be change by a centralize organization. No trust is required among the nodes once they have the same data, only verification is needed to show that all the data same on all of the nodes on th blockchain.
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Each player in the network has a financial incentive to be truthful, pushing the group as a whole to reject any player who is not truthful.
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A central database may be controlled by a person or single organization that may have an incentive to be untruthful without any constraints from peers.
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To say that in blockchain consensus determines the truth means that the nodes in the network agree that transactions are valid and can be added to the blockchain, thus determining the ‘truth’ in the blockchain.
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In a central database, truth is determined by the entity that owns the database, rather than the independent, decentralized nodes coming to an agreement about what the truth is.
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