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What does it mean when we say that in blockchain, consensus determine the truth?
Consensus determines the truth within a blockchain because all the information added by parties is saved and verified. Meaning that when party A adds information, party B can not change that information. And when party C adds their information to the blockchain all previous information is still visible. So in the end when party D comes out with, what they claim is, a great product all the verified information will show the truth that this product is build of of (for example) shit. And by tracking all previous information within the chain you can find out exactly where the problems are. -
How is this different from how truth is determined in a central database?
The truth determined in a central database can easily be falsified because information can be added and also removed. Because the information is centralized it is not veryfiable and not to be trusted. The difference is that the party who stores the information, is also the party that adds information, the party that can remove the information and the party that shares the information. The party that wants to verify the information has immediate difficulty doing so.
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What does it mean when we say that in blockchain, consensus determine the truth?
The truth is decided by a collective of people following a set of rules that rewards them for following and maintaining them, and blocking others from cheating the system. -
How is this different from how truth is determined in a central database?
With centralized database, you have to put faith and trust in the entity that their information is the truth, as it is much harder to determine with little to no transparency.
- What does it mean when we say that in blockchain, consensus determine the truth?
Consensus determines the truth as it is achieved by many network-linked computers agreeing on data which they verify. Together, as a network they come to consensus!
- How is this different from how truth is determined in a central database?
Centralized database is easily corruptible - all one needs to do is edit, tweak data to ones benefit (we know how corrupt people become!!), hide tracks by limiting other entities access data input points and there is your “truth”, completely un-verifiable. No consensus as there is only centralized authority.
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A group of nodes collectively determines which transactions are legitimate or not. Thus determining the reality or history of the ecosystem. This is similar to history or truth being written by the victors. So whatever the nodes agree to be reality then becomes reality.
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Instead of reality only being audited by one entity confirming said reality. Consensus allows for various parties representative of a common goal to determine reality.
1.What does it mean when we say that in blockchain, consensus determine the truth?
The fact that not only on guy say’s that the transaction can be done. In fact the nodes will connect with each other and determine if the transaction is possible or not. So the power of it is that no human will be able to control it, the only truth is retained in the past of the blockchain so it can not be corrupted.
2.How is this different from how truth is determined in a central database?
It excludes humans from the transaction. If the nodes agree between each other then the transaction will be accepted. Whereas in a central database only one man can decide if the transaction can happen or not.
- Consensus means you have agreement, so in blockchain the network is incentivized to agree on what transactions are valid or invalid.
- In a centralized database one or more administrators can invalidate transactions whenever they want. Therefore you don’t get a truthful database.
It means that all networking in the blockchain is verified through consensus through each node. The nodes verify with each other on the validity of information provided, and incentivized on the collective truth. If the data in real time is found through consensus is false is not rewarded.
A central database is centered around one small group of individuals, whom would have to be trusted not to lie for their own profit, and whether or not if it’s true. Basically you never know what your going to get, you can’t trust it.
- the system or the network makes it almost impossible to cheat. if you play by the rules, you will profit.
- you have to trust the company/authority/3rd-party because they are not fully transparent.
What does it mean when we say that in blockchain, consensus determined the truth?
It means that a decentralized network of incentivized computers was able to agree on a transaction
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How is this different from how truth is determined in a central database?
In centralized computer networks, control over the network is held by a single central server.
That the truth has been mutually agreed upon by multiple parties.
In a central database the trust is whatever the database says it is, there’s only 1 party.
- What does it mean when we say that in blockchain, consensus determine the truth?
Ans: 1. With regards to blockchain, consensus basically means that a decision is made on a decentralized network if something is true or false.
When a transaction comes through in blockchain, all the computers in the network have a copy of the public ledger. So now when you have this network of computers communicating with each other with mathematically proof, it is practically impossible to falsify the transaction. Participants in the blockchain network transactions are also incentivized to tell the truth. Hence we can be confident that this information is true not because we trust the network, but because we can verify it by checking the entire network.
The network then collectively decides if this new transaction makes sense or not? If the network in blockchain accepts and includes the new transaction into the ledger, the data base, it’s then confirmed as true.
Consensus is all about removing trust from the equation by collectively verifying the database, the public ledger.
- How is this different from how truth is determined in a central database?
Ans: 2. In a centralized database a single party is responsible in making a decision if something is true or false and nobody else has a say. The probability of lack of authenticity and verification with regards to the making of this decision is questionable and that brings up ambiguity with relation to trust unlike consensus which is trust-less and verifiable. 
1. Consensus is a feature of blockchain and is imperative; when a choice is made on a blockchain more than one entity is involved. There is a network of computers that run Bitcoin’s network that needs to agree on incoming transactions. They agree on what is true and what isn’t with their copy of the bitcoin transactions called a ledger. They decide if transactions are confirmed. This makes decisions trustless because they are made together and it is decentralized.
2. Consensus is different from how truth is determined in a central database because of the fact that the computers are financially incentivized, to tell the truth through mining blocks which otherwise they would have not received rewards by lying and providing false information to the blockchain.
- What does it mean when we say that in blockchain, consensus determine the truth?
It means that the truth is determined from all the decentralized database, everyone have the same truth. - How is this different from how truth is determined in a central database?
In a central database the truth is determined from the central database, if hacked or something else, the real truth can be changed. In a decentralized database the hacker need to hack the majority of the database
1- When we say that consensus determines the truth in blockchain, it means that multiple parties must agree to make a decision about adding information to the blockchain.
2- This is different from how truth is determined with central databases because all information that is added to the database is double-checked and approved by other entities in the network.
Homework: Consensus (Answers)
- With READ/WRITE only features as a global consensus.
- Centralize databases are based on a CRUD system, allowing deletion at any time.
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consensus in the network between the nodes need to be met to have the transaction go through.
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In a central databases, there’s nobody double checking, triple checking a transaction. very easy to manipulate.
- What does it mean when we say that in blockchain, consensus determine the truth?
-It means that if a transaction looks not legit the consensus of people choose not to let it trough into the ledger. this is done by paying incentives to the people that are part of the network and get payed to create trust and truth in the ecosystem.
- How is this different from how truth is determined in a central database?
-In a central database the owner or person behind the ledger can alterate any transaction and we have to trust them without beeing sure if its legit or not.
What does it mean when we say that in blockchain, consensus determine the truth?
Consensus is needed for accepting a new entry in the blockchain from all participants who create it.
Nobody can cheat a new entry into the blockchain because there is a whole network verifying the validity of the claim.
How is this different from how truth is determined in a central database?
Consensus in a decentralized database is needed for adding transactions in the blockchain,
it´s not about trusting a single entity, trust ist removed by consensus through verification in the network.
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What we mean when we say that in blockchain consensus determines the truth is that all nodes must come to an agreement that the data entering the database is valid/invalid. There are also incentives to encourage proper use of the Blockchain Network.
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The truth is determined in a central database from one source, rather than being determined by multiple sources in a public ledger and then agreed upon by all the nodes.
- The truth in blockchain are the informations being add in the new blocks being added to the chain. These blocks are being verified by a consensus of nodes all having their own copy of the ledger and agreeing that the informations being added are honest.
- In a central database, the truth is determined by one entity there is no verification from other parties.