Homework on Consensus - Questions

Blockchain and Bitcoin 101
#3094

1)Consensus is a built-in mechanism where the participants check and agree on the transaction
2)In a central database the central authority makes the rules and can edit and decide on the final transaction

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#3095

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

  • “removing Trust” - verify data by checking the entire network. > truth
  • “everyone talking to everyone else” (supply network)
  • financial incentives to ensure that all participants in a network play by the rules

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

  • network participants get incentives to “tell the truth” in a decentral db
  • in a central db, everyone in the network “talking to one point” - for example a server - “single point of truth” (SPOT or SSOT / SVOT). it’s possible to remove or add data from the server only by authority behind.
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#3096

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    One can say you don’t need trust, because you can verify every transaction. And these transactions are all agreed upon (consensus) before added to the blockchain. Verified transactions like these will reflect the truth.

  2. How is this different from how truth is determined in a central database?
    In a central database the latest version of a record is considerd to be the ‘truth’. The reliability of the input depends on how much the source which added or altered the input is considered to be trusted.

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#3097

It actually depends on what the single node does not agree (soft fork or hard fork). But in case it would try to send an invalid transaction I would say it would technically hard fork from the rest of the network because it wouldn’t be in consensus with the rest. :slight_smile:

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#3098

  1. It means that trust is removed and replaced by consensus, which is the agreement and acceptance of countless nodes in a decentralised network. Trust is no longer required because consensus determines the truth.

  2. You could say that truth cannot be determined in a central database, because it is under the control of one, central custodian/owner.

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#3099
  1. The consensus is incentived to be truthful. There is not just one arbiter of truth, in fact, there are many points of verification.
  2. Truth is determined in a central database at one point and this serves to verify via trust.
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#3100
  1. In blockchain there is a network of computers/nodes that must all agree through consensus if something is true or not by validation.
  2. Truth in a central database can be determined by a one-sided party that we have to trust whereas truth in a decentralized network is based on validation.
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#3101

  1. By saying consensus determines the truth, you are implying that the blockchain network works by first implementing a transaction and then having the rest of the computers on the network VERIFY this transaction. Once they majority agrees that there is sufficient funds/evidence for the transaction to happen, it is allowed and added to the public ledger/aka blockchain. This is consensus, which is far different than ONE person claiming it is a sufficient transaction.

  2. This is different from truth in a centralized data base because all transactions are verified by one central point. In other words, the owner of the data base is the final say, can edit transactions, delete, etc. If the transaction is falsified, it can still be added to the ledger, compromising everyone involved.

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#3102
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All the computer/nodes must confirm/verify that the transaction it’s respective value is valid.
  2. How is this different from how truth is determined in a central database?
    Central Databases do not have multiple nodes to verify truth, it only has one source.
    [/quote]
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#3103
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Since every node has their own version of the blockchain, there’s no opportunity for individuals or small groups to collude in having control of what is truth in the network.
  2. How is this different from how truth is determined in a central database?
    With a central database, the authority can dictate what the truth is, with no need to consult the greater base of users.
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#3104

1.It means that all decisions will be made together to validate the truth in blockchain.

  1. In central database, truth is controlled by central authorities.
    Blockchain is based on consensus.
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#3105

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus is truth when a network comes to an agreement or decision with majority rule and through incentives to play by the rules.

  2. How is this different from how truth is determined in a central database?
    Central databases are based on blind faith of a single authority and not on transparency. However, consensus created by a decentralized network brings truth for provenance through verification and agreement by multiple parties.

blockchain_3212312
blockchain_32123124458×1900 2.33 MB

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#3106
  1. It means we remove ,trust" and instead the whole network has to agree something that is put in the network.
  2. Normal database does not give incentive for truth. So a single corporation fx can put something on their database, without getting permission from everyone else around.
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#3107

In order to reach consensus, every nodes in the network has to be honest and be incentives by being honest

Truth is determine in a central database can be subjective and manipulated and then could not attain truth at all times

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#3108

  • Because consensus means coming to an agreement and on a blockchain an agreement is reached by trustless activity i.e. verification

  • The word ‘central’ says it all. No access to verification means funny business can take place.

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#3109

What does it mean when we say that in blockchain, consensus determine the truth?
Consensus is a term that means that all of the computers that are contributing to the blockchain are in agreement of the transactions that are occurring. Every transaction that wishes to be put into the blockchain must have consensus from the network to be accepted. It prevents errors from entering the blockchain and allows for verification.

How is this different from how truth is determined in a central database?
Consensus means that the majority of computers on the network accept the transaction which prevents rogue transactions from occurring and allowing for verification of every transaction. In a central database the truth is determined by the information being entered being within a set of parameters. A central database assumes truth if the correct type of information is entered (eg an integer in the integer input field). Assuming the correct format of information is added to the central database it will assume it as truth with little to no verification.

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#3110

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

In blockchain, the only transactions that can be ‘recorded on the stone’ are those that are agreed by all the nodes on the network as being a legitimate transaction. Any transaction that does not meet this criteria will be rejected by the node community so that only authentic and legitimate transactions can remain. Those transactions that pass the test of consensus and can remain in the blockchain are considered the unalterable truth.

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

Truth in a central database relies on trust in the accuracy and security of the data in the database, and in those who have access or administration rights.
Performing a check or audit to determine the authenticity and accuracy of a database could prove ultimately impossible as well as exhaustive economically and resource-wise (time and people).

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#3111

1. What does it mean when we say that in blockchain, consensus determine the truth?
Multiple nodes (parties) agree whether a transaction is valid or not. This is built on top of incentives and participants in the network are interested in playing it fair.

2. How is this different from how truth is determined in a central database?
In a central database, the control is usually in the hands of one authority which allows everybody with permissions to manipulate the data without any consensus or agreement at all.

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#3112
  1. When we say that in blockchain that consensus determines truth we mean that there is a network of people that is incentivised to tell the truth about what they and others are doing. Everyone has to agree it’s true.
  2. This is different from a central database, there can be 1 person that says ‘‘this is true’’ and they’re not accountable/can’t be challenged the same way as in a blockchain where everyone on the network needs to verify the validity of info before it is accepted.
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#3113

  1. it is what others have seen and verified , each blockchain only accepts the longest chain coming to it, making it harder each time for false data to come through

  2. In a central database ,it is reliable only on the person inputing the data, could be wrong report, out of date information, any number of reasons could lead to corrupt data being uploaded and presented as fact

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