Homework on Consensus - Questions

[FrinaDC]

1. What does it mean when we say that in blockchain, consensus determines the truth? Mutual agreement between computers in the network confirming a transaction.
2. How is this different from how truth is determined in a central database? Eliminates the possibility of manipulations through verifying by checking the entire network.

[Marlic]

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

The new data entering the blockchain is verified by the network and the network is incentivised to publish entered data accurately

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

In a traditional database data can be manipulated and changed by administrators and sometimes even by the users.

[JP-Discovery]

1. Within Blockchain, consensus determines the truth by communication between all the nodes within the network all agreeing on the same conclusion - if a transaction is valid and to be added to the blockchain. This creates a trustless network as many indiviual nodes must come to the same agreement about a transaction for it to be accepted.

2. In a central database, the information added could be fraudulent/invalid however it is not confrimed by a network of individuals - this means that everyone has to trust this central database has obeyed all the rules. Manipulations of the truth could be presented on the database with no other parties validating the information.

[djtmax]

1. All computers on the blockchain network have to agree and are truth incentivized for every transaction
2. A central db transactions can be altered or removed, does not have to receive consensus and is not incentivized to determine the truth.

[CryptoSpencer]

@ivan

Homework on Consensus - Questions

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

-> Consensus determines the truth in blockchain technology because trust in the network is essential. By running a node the blockchain can be rewied at any time which is an important feature to engage trust.

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

-> Real truth in a central database can’t exist because of its non decentralized character. Even a copy could be altered and you won’t ever be aware of the alternating process itself. Blockchain technology can provied that an fixes this issue.

CryptoSpencer. ‍♂

That’s my awnswer to the question.

[Day]

1. All parties are involved in verifying the validity/truthfulness of the transaction.

2. Only the central authority/instutiton that maintains and contains the central database is involved in verifting the truthfulness/validity of a transaction.

[ryan9632]

1. What does it mean when we say that in blockchain, consensus determine the truth?
   Blockchain can’t be changed because it’s a distributed ledger. In order to change it or add new data, there must be a consensus among the network. So the blockchain represents a version of the truth agreed upon by the network through consensus.
2. How is this different from how truth is determined in a central database?
   In a central database, data can be changed or added by a central authority. So instead of a network consensus determining truth, the central authority is able to determine truth.

[nohornsnotail]

1. In blockchain, nodes must agree that a transaction belongs in the blockchain. If parties cannot agree, transaction is not added.
2. A central database does not use consensus from many different computers. Instead, it uses one party to make all decisions of truth.

[Shaq.crypto]

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

answer
consensus determines the truth by removing trust and verifying not only that but consensus is incentivize so people can make money by honest work or you will loose money for dishonest work.

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

answer
again consensus is incentivize the data is there for everyone to see and verify in comparison to a centralized database which could have alot of human error or dishonesty.

[bobmaucher]

1. The agreement of the computers in the blockchain confirms what is accepted as truth.

2. Centralized databases can publish any information as truth; there is no confirmation, agreement, or check by other computers.

[Babsi]

In the decentralised network of blockchain all parties are involved in the decision making. They all have to agree and it will be accepted as the truth.

It is trustless and can not be manipulated by one party.

[ank20]

1. When we say that in blockchain, consensus determine the truth because it’s the fact of confirming each transaction with each computer as a community it is centralised and transparent trust is no longer necessary.

2. It it different from a central database as transactions can not be removed, or changed. It requires confirmation from the whole for ultimate confirmations.

[JEPPSON]

Homework on Consensus - Questions

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

   Consensus determines the truth on the blockchain by members of the network verifying a transaction. A trustless network where the truth of all the many transaction on that blockchain can be established.

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

   On a central database the truth can be much harder to determine. It could be said that the larger the network the more difficult it is to find the truth. Ask yourself, who is controlling the data?

[Raquel]

1.- the most common truth is the concensus

2.- Concensus does not exist because is determine by one component

[Michael_Lobzhanidze]

1. As the system is decentralised everyone has to accpet that the transaction is true or false. if they dont then the transaction will not be accepted

2. in the central database it depends on one person who manages the database to tell the truth, so in the centralised is with the administrator of that darabase

[LyonsRoar]

1. What does it mean when we say that in blockchain, consensus determine the truth?
   Essentially a network of computers that all have a copy of the blockchain must unanimously agree if something is true or not true before it is added to the blockchain. Honest verification is driven by financial incentive and dishonesty costs.

2. How is this different from how truth is determined in a central database?
   With regards to a centralised database, authorisation from the database is all that is needed to alter or manipulate it and there is no incentive for honesty.

[CryptoEatsTheWorld]

1. Basically, it is truth by majority agreement, which includes verification against past agreements which have been committed to the blockchain

2. In a central DB truth is whatever info is currently saved. However, since a central authority controls it, that truth can be changed at any time - and so that truth depends on trust in that organization.

[AmineBek]

1. What does it mean when we say that in blockchain, consensus determine the truth?
   Every transaction will be verified by a network to confirm if it’s legit or not so it’s remove the human factor by decentralized machines ( Skynet )

2. How is this different from how truth is determined in a central database?
   In a central database, an individual chose what is truth and control the network.

[teamtreg]

What does it mean when we say that in blockchain, consensus determine the truth?
consensus determines the truth by clearly pointing out the liars in a group and ignoring them in favour of the whole.

How is this different from how truth is determined in a central database?
because we are incentivised by money or some other positive influence to concur for good NOT bad.

[Alan]

It means I don’t need to trust anyone, not with my data, not with me finance!