ok i understand, thanks for that clarification.
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Awesome explanation 
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- The truth is determined by many different people agreeing.
- The truth is determined by one person or entity.
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- What does it mean when we say that in blockchain, consensus determine the truth?
If the computers on the network all agree (have consensus) then the agreed upon thing is the âtruthâ.
- How is this different from how truth is determined in a central database?
In a centralized database, whoever controls the database says what is true and you have to trust that what they say is true is.
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- What does it mean when we say that in blockchain, consensus determine the truth?
A: It means that blockchain technologies utilise the trustless nature of the technologies to verify that the information is correct, ie. your favourite bottled water says they only source fresh spring water for their product, they use consensus within their blockchain supply network to verify this claim.
- How is this different from how truth is determined in a central database?
A: The main difference is the auditing inside the blockchain systems have the ability to trustlessly self audit. Centralised databases require trusted third parties to audit them.
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- What does it mean when we say that in blockchain, consensus determine the truth?
Because all nodes involved together decide whether a information is true or not. The nodes are willing to proof because they are paid for doing this. (Incentive). This is what leads to the consensus.
- How is this different from how truth is determined in a central database?
In a central database the truth can be determined by an authortity or a number of people we need to trust. Consensus in the Blockchain world dos not need trust any more. Trust is built in through consensus.
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Multiple people that have a financial incentive to verify the truth in a transaction in the blockchain. If they do not verify the truth they can also be penalized financially as well. (proof of work)
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This is different from a central database because a central database owner can modify the data which makes it difficult to independently audit.
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That several parties comes to an agreement that the information is true or false.
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In a central database a single party can determine that the information is true or false. They donât need to be in consensus with the whole supply network to claim that their information is legit.
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Because consensos means that what is done or said is checked by multiple computers if it is true. So the dishonest middle men is cut out and everything is checked by math en computers.
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The central database have no insentive en consensus so 1 guy can just say what he wants and we just have to believe him and there is no trustless way to check it
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- The transactions is verified by the network it can or accept or reject the transaction.
- A central authority can corrupt the trustworthiness of the data by adding, deleting, modifiying data.
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What does it mean when we say that in blockchain, consensus determines the truth?
Over 51% of the nodes on the blockchain must agree that the information is true and acurate and matches before it is added to the chain.
How is this different from how truth is determined in a central database?
In a centralized database the rules on how the records are verified can differ from company to company and is controlled by people not algorithms agreed on by all the stakeholders. This requires that clients and customers put their trust in a system where they have no ability to verify for themselves.
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1-When we say in the blockchain that consensus determines the truth, it means that in blockchain they are decentralized data, so many people or enterprises get access to the same data, and they have to agree to validate them, if a data is strange, one of the parts or so many of them will not agree on it and then it will be refused.
2-When we have decentralized data, all the parts have to accept if some of them do not agree or say it is fake, they will refuse, however, the centralized data mean that only one part have access to data,so we canât verify whether it is true or not.
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[quote=âivan, post:1, topic:8425, full:trueâ]
Homework on Consensus - Questions
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What does it mean when we say that in blockchain, consensus determine the truth?
It means that the system, the network itself, through the consensus determines what is the truth and what isnt. -
How is this different from how truth is determined in a central database?
Because in blockchain truth is determined by a descentralized consensus that is based on the incentive of making money through telling the truth. Thus, the network and the individuals that are part of it will be siding with the truth through a validated consensus. Where in central database you have to trust the output information is in fact the truth.
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The truth in blockchain is the âagreementâ among all the participants in the decision process about the validity of a transaction. No trust in specific participants is needed. This is a benefit of decentralization. When everybody agrees (or reach consensus) on the validity of a transaction, itâs taken as the true information (the transaction is approved since itâs âgloballyâ accepted that it makes sense).
In central databases, the information is usually approved by one user, one restricted group of users, or through rules defined by these users. Once the acceptance is defined by a restricted group of participants, the other participants must trust the decision takers.
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What does it mean when we say that in blockchain, consensus determine the truth?
It means that due to the verification of something by the majority of the nodes you can assume that it this data is the truth. You can trust the blockchain since the network of nodes makes it impossible to manipulate data. -
How is this different from how truth is determined in a central database?
In a central data base you have to trust the owner of or the company behind that data base. A bank for example guarantees that you are good for the fiat on your account. But who hits tees that the bank does really hold enough fiat if all their customers want to withdrawal it at the same time. In central database you have to trust the middle man.
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1. What does it mean when we say that in blockchain, consensus determine the truth?
All the nodes in the decentralized network have agreed that each that the data on the network is the truth
2. How is this different from how truth is determined in a central database?
This is different because the various nodes are verifying the authenticity of the data transaction and working together come to a consensus based on the immutable historical data stored in each of their nodes.
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The truth is only as good as the last chain
In a central database, the central controller determine and accept all changes which exposes the whole system a risk of abuse of power or fraud or other unforeseen events.
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1.It means that a decison is being made on decentralized network where there are several parties involved. Consensus is important to build Trustlesness.
2. In a central database there is only one authority, therefore one indvidual decides the truth.
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All information involved in a transaction is recorded on the blockchain with multiple copies of the ledger on distributed nodes. The nodes need to agree with each other to provide consensus for a transaction to be verified as the truth. No one entity is responsible for deciding what is true or not.
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In a central database there is a controlling entity that has the power to decide what is true or not. This involves trusting the entities involved in the transaction to be telling the truth because there is no recorded history of information.
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