Homework on Consensus - Questions

Blockchain and Bitcoin 101
#3014

Homework on Consensus - Questions

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

When a transaction comes through, the nodes need to come to an agreement and they are incentivized tell the truth. Having network validators is a very important feature because you know that several people have come to agreement to determine the truth/consensus.

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

Consensus is a big part of trustlessness and you know that with decentralisation you have had multiple people look at it to confirm the truth. A centralised database can be manipulated.

2 Likes
#3015
  1. What does it mean when we say that in blockchain, consensus determine the truth?

It is determined by all the participants in the network mathematically agreeing or disagreeing on transactions presented to the network.

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

With concensus multiple parties must agree or disagree, with centralization only one party has to agree. With the latter there must be trust wnich can more easily lead to fraud and errors.

3 Likes
#3016
  1. What does it mean when we say that in blockchain, consensus determine the truth?

general agreement / methods that the blockchain nodes use to confirm the validity of data (blocks, transactions within the blocks, etc)

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

central database is centralised, it is controlled by single party which makes it NOT TRUST LESS. Consensus in decentralised network is achieved by incentivising the nodes who participate in order to reach the consensus.

3 Likes
#3017

What does it mean when we say that in blockchain, consensus determine the truth?
All computers have to agree what is true and what is not, they all have to verify something is correct before it can be added to the blockchain

How is this different from how truth is determined in a central database?
You have to trust a person or a company to be telling the truth, nothing is verified by an external network or by maths.

2 Likes
#3018
  1. it means that parties in a network will decide whether a transaction made is true or false.
  2. it is different from a central database because a central data base has 1 authority, while a digital(blockchain) database has several parties involved.
1 Like
#3019
  1. Consensus determines the truth in blockchain by having several parties agreeing to the public ledger. There is trust because the transactions can be verified.
  2. A central database is controlled by one entity whereas blockchain is decentralized.
1 Like
#3020

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    its an agreement between all the parties of network that own the copy of the blockchain for accepting and verify the transaction, which will be added to the database

  2. How is this different from how truth is determined in a central database?
    it is different by being public and decentralized, anybody has access to the data. this puts the trust away, because the client can be sure about their product by having the opportunity to verify it. in a central database the information can be lost and manipulated in any way.

1 Like
#3021

  1. It means that multiple nodes determine what is true or not. Which transaction is valid or not. The nodes come to a consensus.

  2. In a central database there is no verification by multiple nodes. Whomever controls the database controls the so called truth.

1 Like
#3022

Homework on Consensus - Questions

Q1: What does it mean when we say that in blockchain, consensus determines the truth?
A1: A blockchain network cross-references the copies of the database stored on different servers in order to validate the transaction before allowing a transaction (or adding information to the database). For example, I make apple pies and I say I put 5 apples in a pie, an apple suppliers database record will have to confirm they gave me 5 apples. So for the blockchain network to function all participating parties have to use a blockchain database to cross-reference transactions.

Q2: How is this different from how the truth is determined in a central database?
A2: A central database is controlled by one entity and can be manipulated and doesn’t have to be validated in order for a transaction (or information of any kind to be added) to take place. With a blockchain network, in order for any transaction to be made (or information of any kind to be added) the network of databases has to validate it. If I want to input that I have five apples on a blockchain network, the network will confirm I received 5 apples from a participating apple supplier, my five apples are confirmed to exist not trusted to exist.

1 Like
#3023

  1. blockchain determines truth by consenus , every node agrees to information independently.

  2. in a central database truth is based on trust believe and reputation

1 Like
#3024

  1. Consensus is reached by computers in the network agreeing with each other instead of one centralised entity determining what is true and what is false.

  2. Trust is removed from the system and replaced by mathematical proving by a majority of the computers in the network. There is no central node, but a decentralised network that determines truth.

1 Like
#3025
  • What does it mean when we say that in blockchain, consensus determine the truth? Decisions on whether something happened are agreed upon by multiple decentralized nodes in the network.
  • How is this different from how truth is determined in a central database? Decisions on “truth” are determined by a single, central entity.
1 Like
#3026

  1. All parties have to agree that a transaction took place.

  2. In a central system only one party has to agree that a transaction took place.

2 Likes
#3027
  1. Because it’s a collective action.
  2. In a central database it’s one institute / person that can decide
2 Likes
#3028

  1. It mean that all decisions are made together by several parties in decentralize way and it happens because of incentives that parties get. It is more profitable for network participants to tell the truth because then they earn money. If they would lie they would lost money.

  2. In the central database there is only one side(authority) that can decides something in any way it like. There is never any validation of these decisions by others, so such a design is conducive to fraud, for example

2 Likes
#3029

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

A consensus of truth in a blockchain occurs when all of the ledgers in the chain agree with what is said. If there is disagreement then a request or statement is ignored. For example if one indicates it has 1,000 bitcoin and the other ledgers do not reflect it, the statement is ignored. If it is correct and matches the other ledgers than its agreed upon as truth. Hence a consensus.

  • How is this different from how truth is determined in a central database?
    A central database is controlled by a central authority and does not need a consensus and there is an ability to be manipulated or changed.
2 Likes
#3030
  1. The decentralised network has to agree accept approve and confirm the transaction 1st in order to put it into the blockchain.

2.Because will be determined by a central authority.

3 Likes
#3031

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All computers on the network are communicating in tandem therefore creating trustlessness & decentralization.

  2. How is this different from how truth is determined in a central database?
    On the blockchain everything is verified to create a consensus and cannot be tampered with but central databases can have malicious actors that can manipulate the data to there accord/benefit.

2 Likes
#3032

  1. Consensus in blockchain refers to network of computers (nodes) that work in tandem to verify any transactions. All the computers within the network needs to come to a consensus on whether something is true or not. Each computer within the network has a copy of the public ledger and when a new transaction comes through, different nodes need to come to an agreement. When a transaction is put into the database, it is accepted by the network.

  2. Central database has a central figure who determines on whether something is true or not. It is based on trusting someone to determine the truth and we need to trust that central figure on the decision. It is prone for manipulation, alteration and ultimately corruption. In contrast, blockchain technology is decentralised with no one party that gets to decide. Concensus within the network enables provenance hence everything can be traced and verified and you remove the element of trust. It also has financial incentives to encourage everyone within the network to ‘play by the rules’.

2 Likes
#3033
  1. Consensus determines truth in a blockchain by decentralising the method of verification of an exchange/transaction by members/nodes of the network who are incentivised to verify the validity of the exchange/transaction thus dissolving the need for trust
  2. In a central database truth is inherently determined by some central authority who verifies the validity of some amendment to the database. This requires trust in that authority – consensus removes the need for this trust.
1 Like