Homework on Consensus - Questions

Blockchain and Bitcoin 101
#2411

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    The Decisions are made together, the network needs to agree on copy of the Public Ledger.Decentralized and Trustlessness.

  2. How is this different from how truth is determined in a central database?
    Central database truth is centralized and private. No way to trace and see the transparency.

1 Like
#2412

  1. It means ledgers in a blockchain will determine the validity of the transaction and they will agree whether the transaction is true.

  2. In a central database, you have to trust an authority to know what is true.

2 Likes
#2413

  • What does it mean when we say that in blockchain, consensus determine the truth?
    Each block determines facts/transactions individually with financial incentive to do so. Goal being that individual interests are eliminated. Must be collectively in agreement without bias or personal investment.

  • How is this different from how truth is determined in a central database?
    Many parties involved that can/will/always muddy the waters to make it near impossible to find truth.

1 Like
#2414
  1. all the computers in the network(including sender and receiver) should agree on the validation
    2.through incentive, consensus is reached so truth is determined trustless
1 Like
#2415

1.consensus determines the truth by validating or verifying data when all nodes come to an agreement.

  1. consensus and how truth is determined in a central DB, in a central db, it is only one entity verifying or validating data.in a consensus it take multiple entities to come to verfying the data.
1 Like
#2416

  1. It means that nodes in the blockchain network determine the validity of the transactions in a decentralised way. Once they come to agreement consensus on the transaction is reached and therefore it is deemed true.

  2. In a central data base all transactions are verified by a central authority that verifies the validity of the transaction. Trust is therefore put in that central authority. In blockchain trust is put in the network as a whole.

1 Like
#2417

Homework on Consensus - Questions

What does it mean when we say that in blockchain, consensus determine the truth?

How is this different from how truth is determined in a central database?

  1. Each transactions on the blockchain are verified by a consensus of computer which agree/reject the new added information.

  2. In a central database, a single party agrees on the transactions. It’s therefore not trustable. Whereas on a decentralized database, multiple and independent parties have to approve the data, making it fully trustable

1 Like
#2418

1- means that every transaction is verify. no trust unless it’s been verify by many computers and agreed.

2- in the central database you have to truth from one party. but in the blockchain the entire network verify and agreed that this transaction is true.

1 Like
#2419
  1. all parties have to agree and could verify changes made to the new block, otherwise new block could not be made
  2. central database is not decentralised, information could be changed, and other party can not verify.
1 Like
#2420

-homework-

  1. Consensus determines the truth because the people in charge have the incentive to find the truth and their network prevents fraud.

  2. In a central database, one person is in charge and they decide what’s true or not. A consensus is decentralized and the whole network agrees on what is true.

1 Like
#2421

1- Actions are validated by multiple parties on the network when consensus is made it means everyone is agreeing that new transaction/information is deemed to be true.
2- Central authority in charge of information and how it is handled.

1 Like
#2422
  1. Instead of having to trust that the other party is telling the truth, you can verify it directly, through a network of computers. If it’s not actually true, the network is incentivized to reject and eject the false information.
  2. A central database only has one source for truth. There is no outside verification. So you are forced to trust its information, which can be faked, hacked, or fudged.
1 Like
#2423

  1. Decentralised network are incentivised to reject falsehood.

  2. Trust element is removed from the blockchain system.

1 Like
#2424
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Through consensus mechanism, everyone participating in the blockchain network is incentivized to act properly, network validation prevents frauds as majority of network users has to agree on data.
  2. How is this different from how truth is determined in a central database?
    In this case the database owner can corrupt data as they will, there’s no mechanism supporting correct behaviour.
1 Like
#2425
  1. Consensus is a incentivised agreement mechanism using which a participants come to an agreement.
  2. In a centralised system, however the agreement is analyzed and determined true or false by the authority
1 Like
#2426
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Each computer node is incentivized (via POW or POS) to “tell the truth” [still a bit foggy on how this actually works]. It verifies its view of reality by checking it against the network. If a majority of other nodes agree, consensus is achieved and that transaction is added to everyone’s blockchain. If a majority of other nodes say it is wrong, this node accepts that it must be wrong and does not add the transaction to its copy of the blockchain.
  2. How is this different from how truth is determined in a central database?
    A central database typically utilizes a third-party auditor to verify the accuracy of the database in a single point of time. You then have to trust that the ‘owner’ of the database and the third-party auditor are telling the truth.
1 Like
#2427
  1. Computers on a network with an copy of the blockchain that works together, can easily verify if an transaction is false
  2. Central database is based on trust , with consensus it creates an trust less environment where you can verify yourself
1 Like
#2428

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    There are many computers in a distributed network, determining is proposed information is correct. None of these computers have authority or control over the others in performing this decision. If there is not an overwhelming number of these distinct systems that pronounce the information to be true then it is not accepted and not added to the blockchain.

  2. How is this different from how truth is determined in a central database?
    In a central databse, there is of course a “central” system, a controlling authority which provides information which is automatically accepted as true because it comes from THE database. The truthfulness of a “central database” is based on TRUST in that central data base. Not on a vast majority examining and thus proving the information. When everybody checks, no one needs to trust. When a “central authority” checks, everybody needs to trust.

1 Like
#2429
  1. What does it mean when we say that in blockchain, consensus determine the truth?

It means that the nodes on the blockchain have to agree on the validity of the transaction. If they come to the consensus that the transaction is valid it will be added to the blockchain. Nodes are given incentives to act honestly.

  1. How is this different from how truth is determined in a central database?

The owner of the centralized database determines what is valid and what is not. This can lead to information being manipulated, or corrupted. In a decentralized database information is verified by the nodes on the network. The nodes are incentivized to act honestly.

1 Like
#2430

  1. Networked nodes will all agree or disagree on the truth based on the ledger in a decentralized and trust less fashion. Incentives are given to honest nodes and dishonest nodes are given a disincentive.

  2. In a central database, there is only one or a few people who decide and control what is true.

1 Like