Homework on Consensus - Questions

Blockchain and Bitcoin 101
#2672

Consensus in the Blockchain is trustless, in that there must be verification within the network/public ledger. No need to trust that information is true because it is proven through agreement.

There is no decentralized verification process in a central database.

3 Likes
#2673

The network of computers (nodes) or (miners) verify each transaction and forms the consensus that the transaction is true. This eliminated the need for the trust factor as with a centralized system where verification is with one entity versus an entire network of many.

1 Like
#2674
  1. Consensus is the agreement of the net work on state changes based on most recent transactions. If the network agrees a transaction is good it gets added to the ledger and if the network finds it to be false it gets discarded.
  2. In a central database a single copy database copy or single individual chose what is truth. If the database is corrupted then truth is altered.
1 Like
#2675

because if network will agree on something, is deemed as truth for eternity in that particular blockchain

Decentralisation of that decision, remove a single point of trust

1 Like
#2676

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    the network supplies the trust by verifying transactions in tandem

  2. How is this different from how truth is determined in a central database?
    transactions cannot be verified outside the network, thereby making it impossible to make a change on a singular network component

1 Like
#2677

  1. When a decision is made, it’s being made by several parties whose main goal is that the decision is based on the truth.

  2. In a central database you have to trust the central authority that they’re telling the truth. In Blockchain, there is no needed trust and everything is verified by multiple parties in the system.

2 Likes
#2678

1. What does it mean when we say that in blockchain, consensus determine the truth?
It means the network of nodes in a blockchain network collectively validate/verify the transactions in order to determine the truth. Additionally the blockchain network is designed to incentivize nodes to determine the truth (get rewarded by mining).

2. How is this different from how truth is determined in a central database?
A central database only has one source of data truth which can be corrupted, manipulated and unverifiable. Also a central database only has a single point of failure.
Because blockchain is a decentralized/distributed system, it features redundancy so there is no single point of failure. All the nodes can audit/verify each other’s transactions and it would take a lot of effort and energy to corrupt the data in blockchain ( about >50% of nodes have to collectively become bad actors).

1 Like
#2679
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    –> consensus is the alignment between the different players in the network if a certain transaction is correct and can be added to the blockchain. The players in the network all have a copy of the public ledger locally stored and validate the transaction and records of the other players to add to their local copy which means there is no need to trust any single player in the network but the entirety of the network is trustworthy.
  2. How is this different from how truth is determined in a central database?
    –> in a central database there is just one reference (source of truth) per record which means if the record is changed there is no check through any other entities and the provider of the database needs to be trusted to keep the records secure.
1 Like
#2680
  • What does it mean when we say that in blockchain, consensus determine the truth?
    Everyone has to confirm as truth, else it is not truth and rejected. I don’t rely on single corporation/person/service for what they say is truth.
  • How is this different from how truth is determined in a central database?
    I don’t know what is in a single central database is truth to begin with. I can’t validate what is in a database table with others, unless I must singularly trust the source that updated the table.
1 Like
#2681
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Consensus is the method by which transactions are varified in a decentralised way by nodes within the blockchain. Each node checks against its individual ledger record and determines if the transaction is correct or not, it will then attempt to reach consensus (Agreement with all other nodes) before the transaction is considered to be ‘truthful’.

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

In a centralised network there is typically only one copy of the ledger, transactions are still verified as truthful by the records kept in the ledger but the risk is that this ledger relies upon absolute trust in the ledger custodian.

1 Like
#2682
  1. Because they are financially incentive to follow the rules.
    2.In the central database the decision is made by few people who has control over the database unlike blockchain determined by consensus of the public having the database in their computer.
2 Likes
#2683

  1. Consensus prevents the trust to participants of Blockchain, this forces them to collaborate to prove the “quality” of each transaction/process in the block. So, the most qualitative proved block proceeds into Blockchain.

  2. Central databases missing such dynamic abilities to be independent of any entity and secure at the same time instead can be interrupted and owned by someone else

1 Like
#2684

It means that the data on the blockchain is verified by many participants though a consensus mechanism

In a central database we need to assume that the data is true because it is owned by a single authority which can interfere with it for it’s own good.

1 Like
#2685

a) Consensus is the mutual agreement of multiple parties to confirm or deny events - not through a single party that controls everything & no one has a say.

b) Multiple parties decide what to confirm/discard instead of a single, one rules all, party (government).

1 Like
#2686
  1. What does it mean when we say that in blockchain, consensus determine the truth?

consensus determines the truth because everyone agrees that the blockchain that is being formed is the correct one

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

this is done by a central authority/entity in a traditional database

1 Like
#2687

  1. How consensus determines truth in Blockchain:
    There are a network of decision makers in a supply chain who are incentivized to ferret out the truth. When truth is verified there is consensus, and then it’s added to the blockchain.

  2. How it’s different from truth on a centralized database:
    With a central database, whoever owns and operates it is who determines what the truth is; it can be adjusted, deleted, altered, etc.

1 Like
#2688
  1. Verification through the network. Total agreement.
  2. A central database is one party determining the truth where as the blockchain is multiple parties confirming it.
1 Like
#2689

  1. What we mean by “consensus determines the truth in blockchain” is that the collective people on the network chain agree collectively on the most recent transactions thereby collectively agreeing and making a consensus on what is the truth.

  2. This differs from how truth is determined in a central database in that you cannot “don’t trust verify” which means that you cannot audit all companies in the supply chain, thereby it can be possible for supply chains to have bad or irresponsibly sourced material integrated into the supply chain.

1 Like
#2690

1.Because consensus is where essentially a group of many people on the blockchain decide whether a certain transaction is legitimate or not.

2.In a central database there is a central authority (eg. person or company) That runs through all transactions and decides whether they are legitimate or not. Meaning that if the entity in question is corrupt or the database is hacked, the results would be flawed.

1 Like
#2691

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Is in the nature from Blockchain Technology, all nodes in the network create a consensus.

  2. How is this different from how truth is determined in a central database?
    A central DB is a single entity and can not verified from the others computers/nodes as in a blockchain network.

1 Like