Homework on Consensus - Questions

Blockchain and Bitcoin 101
#2954

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus is reached when all (most) machines in the network agree that the transaction makes sense (communicating that they all contain the same information) and the transaction will then be confirmed as true. If they do not agree the transaction will be rejected and not added to the blockchain.

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

A central database would not provide any checks/balances on information contained in it from being changed or manipulated, as it generally relies on a single interaction to input data. This could lead to a record containing inaccurate information (like if someone was “cooking the books”).

In the case of blockchain, having a decentralized database requires consensus between multiple parties to verify the information is accurate and agreed upon before it is validated and added to the database, which makes it difficult to cheat or misrepresent data.

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#2955

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

what it means is that when something is accepted as true, or that it is valid, it means that all the participants of the blockchain verified that it is so, which generates a consensus that this is true

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

In a traditional database the truth will never be 100%, because it needs other factors that are not verifiable, such as reputation, the trust that its participants place in it, etc …

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#2956

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus = Truth . To be added on to the blockchain all nodes has to be verified upon the incoming information. If it is not verified can’t be submitted to the blockchain.

    1. How is this different from how truth is determined in a central database?
      In a centralized database it is one authority verifying the data not multiple parties independent of each other verifying the data.
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#2957

  1. Consensus determines truth because each individual contributing to the ledger needs to verify the transaction, for example. If everything makes sense and all the individuals come to a consensus that the transaction is legitimate, it is added to the ledger and therefore considered truth.

  2. The fundamental difference between how truth is determined in each model is that; with the centralised model, the controller of the data base becomes the arbiter of truth. Wherein the decentralised model, all individuals contributing to the ledger must come to a consensus for a transaction to be considered truth.

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#2958

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth? Truth = whole network agrees to accept transaction.
  2. Central database open to human error. Whatever goes into database becomes part of network. Can be false data or have errors.
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#2959
  1. What does it mean when we say that in blockchain, consensus determine the truth?
  • A group of ledger holders checks the validity of a request, nothing happens until there is 100% confirmation. Trustless system
  1. How is this different from how truth is determined in a central database?
  • Controlled by a single signatory, which requires a trust
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#2960
  1. Foul play becomes nonexistent due to monetary incentive.
  2. In contrast, a central database can be manipulated for gains.
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#2961
  1. Consensus means when all the blockchain agrees to a transaction, so when there is something shady they won’t agree and it won’t go through therefore consensus determines the truth.
  2. It is centralized and we go by trust not being verified by others.
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#2962
  1. All of the nodes must agree the transaction makes sense therefore becoming “truth”
  2. The controller of the database (person, group, central authority) manages a central database and determines what the truth is. we are subject to what incentives them.
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#2963

100% of participants must agree or the network might fork :wink:

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#2964
  1. What does it mean when we say that in blockchain, consensus determine the truth?
  • Each new transaction is verified by other nodes on the network. Each node checks the results. And the agreed consensus becomes the truth and is stored on the blockchain.
  1. How is this different from how truth is determined in a central database?
  • In a central db their is only one owner of the ledger and they have full control to maintain the data how they see fit. So the truth is what they tell you the truth is.
2 Likes
#2965
  1. Blockchain consensus is crucial. For a new info/block to be added to the chain, the database of linked computers must agree/verify or perform an unbiased check, otherwise it will get rejected.
  2. Since a central database is controlled by one entity, it can be manipulated to provide a different or false outcome.
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#2966

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    -We the people verify all activity prior to confirmation and are incentivized to not only catch bad actors but penalize them for their bad behavior. In more detail, consensus means that there is a network of unrelated, decentralized, trustless and incentivized verification of transactions. the system controls itself through mathematical verification calculations and Provenance (understanding where it originated).

  2. How is this different from how truth is determined in a central database?
    -In a central database there is no verification anyone with access can make edits and its nearly impossible to penalize due to the fact that theirs no value attached to the execution of edits. In more detail, a centralized database is vulnerable in the way a thief knows your specific location while the blockchain relies on multiple unrelated confirmations where its no longer about trusting the information is correct its about tracking and verifying that it is correct.

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#2967

1- Consensus is the way to decide and agree on collectively.

2- When a central authority decides the truth, someone has control over the network and only him decides the truth. It can lead to manipulation and unfair decisions.

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#2968

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

What it means is that consensus determines the truth by incentivizing everyone in the network to work together to earn crypto and to all agree against someone trying to lie about a transaction in the supply chain so we can verify and won’t need to trust to know what is the truth. The network must come to a consensus of everyone coming to an agreement to officially add a new transaction to the network.

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

This is different from how truth is determined in a central database because in a central database, it fully relies on trust of all different companies and also trust in the centralized network to not be hacked into and altered. This can cause many problems as the central database isn’t transparent and all the different companies can blame each other for mistakes and customers will not be able to know which company is truly in the wrong for the mistakes. You can also add false information a lot easier in a central database as it doesn’t require everyone in the network to come to a consensus.

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#2969

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
  2. How is this different from how truth is determined in a central database?

(1) Multiple parties are incentivized to verify and reach consensus producing truth.
(2) Central databases tend to have single authority(ies) that can manipulate data, may not be verified and are not trustless.

1 Like
#2970

[quote=“ivan, post:1, topic:8425, full:true”]
Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determines the truth?
  • Because it offers an incentive to be truthful, and penalizes bad actors.
  1. How is this different from how truth is determined in a central database?
  • a centralized authority may have biases or its own internal incentives that do not serve the entire community that is using that specific blockchain.
2 Likes
#2971

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

Consensus uses a network of computers (nodes) to verify independently the truth of a transaction across the network. Everyone sees all info across the network at all times and provides transparency. A network uses incentives such as P.O.W or P.O.S to provide financial leverage to those looking to secure the network.

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

Central database relies on opaque and archaic forms of trust from either contributing parties or a central authority to provide consensus. A system as at the whim of those people it that central authority.

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#2972
  1. What does it mean when we say that in blockchain, consensus determine the truth?

In the world of blockchain, there is no centralized authority which can be trust. In such a trustless environment, we know a truth since we can generate consensus. To do so, several parties can verify a transition independently.

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

In a central database, we need an authority which can be trust. In blackchain, we know a truth since we can verify on math.

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#2973

Each party has a common knowledge and if one doesn’t agree to this consensus he does not hold the truth. The truth is the agreed knowledge by the community aka Consensus. It can take 2 forms a) a shared ledger among several computer b) A communuty of computer communicating together creating closed community where everyone knows everything. This shared knowledge also called consensus determine the truth.