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What does it mean when we say that in blockchain, consensus determine the truth?
Ans. Because due to the nature of the consensus functionality of the blockchain there is inherent network connections that ensure trust is never needed. So, the consensus network determines truth. -
How is this different from how truth is determined in a central database?
Ans. A central database is without a consensus network, so trust has to be a factor since one entity determines what truth is as oppose to having a consensus network to verify truth.
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Due to the nature of blockchain being decentralised every network of computers agrees on whether or not a transaction makes sense therfore buidiling a trustless network because every transaction is agreed upon by everyone. consensus is built on finanical incentive therefore people gain money by being honest.
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Centeral databases are centralised therefore the database can be manipulated by whichever entity holds the âkeysâ to said database. This is different to blockchain where cheating is made impossible by mathematic/scientific methods that create âtrustlesnessâ.
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- Consensus deteriminaytes the truth when all computers in blockchain network agree that the transaction is valid and that computer requesting a transaction is in charge of actual version of data on which transaction is based.
- Truth in central database does not have to be confirmed in any other databeses so this truth is based on thrust, and thrust is what we want to avoid in blockchain that is why we confirm the transaction on every database available in the network.
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- What does it mean when we say that in blockchain, consensus determine the truth?
- Consensus is where the nodes on the blockchain network agree on the state of the blockchain essentially making it a self auditing system
- How is this different from how truth is determined in a central database?
- In a central data base there is one central authority that determines the truth. And this authority ultimately controls and manipulates the network, however, they please.
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- What does it mean when we say that in blockchain, consensus determine the truth? Something is considered the truth when everyone can agree on what that actually is.
- How is this different from how truth is determined in a central database? In a central database one person can change the data and determine what is in it whether it is true or not.
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What does it mean when we say that in blockchain, consensus determine the truth?
In the network there is an incentive to tell the truth, usually economical. For example with bitcoin a miner that doesnât tell the truth will be rejected by the network, that through provenance can tell that the information doesnât add up, the lying source will spend electricity without reaping the reward. On the other hand if a miner tells the truth/makes a correct transaction he/she is rewarded.
This means that no single entity can use disinformation because the majority of the network will reject it.
How is this different from how truth is determined in a central database?
In a central database the owning entity can have an incentive to lie about the data. Also since a cenral database isnât based on a public ledger there is no transparency and for anyone to confirm the data they need to be granted access by the authority that holds the keys.
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For something to be verified and agreed in the blockchain, there is a need to get to a consensus between the computers in the network. If one of them tries to cheat, it is rejected by the rest of the network. This process is paid, as a form of incentive. At the end, the machines are paid to verify the truth of an event (ex: financial transaction).
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In the central database, one central organization decides if it goes to the database or not. At the end, this central organization decides what they want to be the truth.
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1- Its supposedly very difficult to convince/incentivize the majority of agents to consent something thats not true
2- In a central database, the main/owner agent have the autonomy to decide
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The network of computers all have copies of the general ledgers and by their consensus determines the truth. If they donât all agree then the transaction cannot be complete - a trustless system.
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Truth through a central database truth is determined by who inputs the information in the database. There is no verification, the information is based on trust.
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- majority of the network has to agree about the transaction before it is added to the blockchain. Blockchain is trustless, so the truth is determined by consensus.
- In central database we have to trust to the company or individual that controls the database.
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- Several parties come to an agreement to arrive at consensus about what decision to make. Therefore incentives are built to play by the rules. Trustless.
- Central authorities can manipulate, determine and intervene. Trust needed.
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1 The ledger on all the decentralized nodes must have the same transaction that looks valid and there must be agreement before it is mined into a block and accepted as a transaction. This is a trustless system it is verified by multiple sources.
2 The difference on a centralized system is that there must be trust in the transaction. There is no multiple checks on the transaction and it can be manipulated by central authorities.
For example the Greek government could just take 10% from deposit accounts in banks when they had a banking crisis.
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The blockchain network determines the truth, by accepting information and double checking for proof. All decisions are made by the network which consists of many people.
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In a centralized database the âtruthâ is only what one user makes it out to be, whether that person decides to change info or delete info, that âtruthâ is never authenticated or transparent.
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Homework on Consensus - Questions
- What does it mean when we say that in blockchain, consensus determine the truth?
All validators of the Blockchain database are incentivised to independently check new transactions are mathematically consistent with the existing Blockchain parameters.
- How is this different from how truth is determined in a central database?
Central databases maintain a central authority over the validity and access of the data. This
negates the ability to perform open unencumbered auditing.
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- Consensus is when multiple computers verify a blockchain transaction, truth is achieved when there is agreement amongst other computers, that are verifying that transaction to be true. i.e. the transaction is good because it has been checked by multiple sources, and they all agree that the transaction is truthful.
- Truth in a central database is attempted to be achieved by people relying on other people throughout the chain telling the truth, and also having the information that you would need to make a determination of the facts. Blockchain enables you to verify in a trustless manor everything all the way back to itâs source.
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- What does it mean when we say that in blockchain, consensus determines the truth?
Consensus is arrived at by means of each network member verifying the transaction that is presented, using the ledger to authenticate the transaction. Trust is not required due to the consensus/verification of the network.
- How is this different from how truth is determined in a central database?
False claims are less likely due to the incentive mechanism of each player in the process to be truthful. The opaque nature of a centralized database relies on trust because the central database cannot be verified.The transparent/verifiable tenet of the blockchain determines the difference of how truth is managed.
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It means that all different parties, network involved independently, decentralised, incentivised to find the truth playing by the same rule are all agreeing that something has occurred, has sense or not, it is the truth or not; Everyones agreement verifying same information means they have reached consensus before it has been added to the blockchain as accurate information.
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When everyone has reached the consensus, agreement about some information only than the same is added to blockchain. It allows everyone access the same data, it prevails from possibility of changed, getting erased or manipulated by single player or higher authorities as that all is proved to be possible in a central database.
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- In means that if somone tries to cheat than all other nodes around them will varify that âno this person did not have this, therefor this is not possibleâ.
- In a central databass there will not be a bunch of nodes to varify and correct somone when he cheats.
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- Consensus determines the truth means that when the majority of a decentralized network agrees that a transaction has is legitimate and verified it becomes truth or added to the permanent ledger.
2.Truth is not determined in a central database, it is created by the central data base and can therefor be altered by them as well.
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- What does it mean when we say that in blockchain, consensus determine the truth?
We have a network of computer able to individually verify any transaction so it is almost impossible to cheat. âThe network have reached consensusâ, meaning that they all have the same data stored. Then the fact, process, transaction or whatever, is most likely true.
- How is this different from how truth is determined in a central database?
When you trust a central entity to confirm anything, they have the power to decide what to show to you or not show to you about whatever (product processing, transactions, etc.). You âhave toâ trust them since there is no alternative. With blockchain, since everyone is incentivized to play by the rules, the whole network of computers will tell you de real data because âit is written on stoneâ. If someone wants to cheat, âgood luck!â.
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