it means that when all the nodes are in agreement with each other it is verified true therefor eliminating the need for trust!
any single corporation or a government centralized entity can decide on what the truth may be it can be hard to verify as they very trust dependent !
When a consensus determines truth, the truth is determined by the computers that make up the blockchain. The supply chain or the transactions are all tracked in the blockchain and make up a network.
This consensus is different because it makes it almost impossible for companies to cheat. The consensus is proven with mathematics and it is driven by incentives. This means that the people who run the nodes are incentivized to give the truth. If there is dishonesty in the consensus, it can lead to loosing money instead. A central database does not have direct incentives to provide the truth, so it is easier to lie.
What does it mean when we say that in blockchain, consensus determine the truth?
The nodes across the decentralised network agree what is true and what is not true. All decisions are being made together and every decision is being double checked before execution. When each node is individually and independently financially incentivised to offer the truth, this is where consensus can be achieved.
How is this different from how truth is determined in a central database
A central database is a private ledger where often only the controller or stakeholders can accept or agree a transaction or the validity of the data or information. This is not open to checking or verifying. In a central network their will often be a control function whoâs incentives are not aligned with a the truth and hence this can be manipulated.
What does it mean when we say that in blockchain, consensus determine the truth?
It means that all the nodes have come to an agreement that a transaction is valid. While being financially incentivised to do so.
How is this different from how truth is determined in a central database?
This is validated by one party, and can also be manipulated.
What does it mean when we say that in block chain, consensus determine the truth?
The Block chain network decides together inclusion or disclusion, when accepted a confirmed consensus is created.
How is this different from how truth is determined in a central database?
Trust is alpha omega her, a DB can be altered to comply with expectations.
Network validators are financially incentivised to tell the truth. Only when everyone agrees (ie. achieving consensus) that something is valid and true an it be added to the blockchain.
Central databases rely on trust that data records are accurate, true and havenât been tampered with. Blockchain is trustless by creating a network of validators, each financially incentivised to tell the truth and only allowing records to be added when the network agrees it is a true and valid record. There is no need for trust in a blockchain as false or manipulated records canât and wonât be added.
Because blockchain is based around all of the separate computers, each keeping a copy of the ledger, any non-compatible transaction will be caught by the rest of the computers working to keep the ledger. They are encouraged to with incentives, ideally.
In a central database, if someone has access to it, they can change the data as they like after the fact. There arenât other computers with the copy of the database to check the integrity of the change being made.
#1 A transition is verified by numerous different databases running the BC
#2 One single party can determine the outcome or decision
When someone enters a transaction, all the nodes that are running the blockchain have to verify that the information / transaction is correct before they will allow it to be entered on the ledger.
There needs to be a 3rd party that must be reputable & impartial to audit the centralised data base & they may be incentivised not to tell the truth, where as participants on the blockchain are incentivised to verify the truth.
Everyone is incentivized financially to only validate transactions that are correct. These decisions are made together only when several parties agree.
In a central database, there is no incentive to be 100% honest and it may only be one or a few deciding on entries.
What does it mean when we say that in blockchain, consensus determine the truth?
Consensus in a blockchain means thats every participant (computer node) in the blockchain has mathematically verified transactions thus we know the transaction is âtrueâ We no longer need to trust any one person or company and depend on them to as to what is true or false.
How is this different from how truth is determined in a central database?
In a central database we are depending / trusting the owner of the database to tell us what is true or false. The central database organization make their own rules and have created independent auditing methods to provide outsiders with assurance that their systems are telling us as users the truth. It is a personal guarantee by the organizations not a mathematical proof of the truth.
What does it mean when we say that in blockchain, consensus determine the truth?
The entire network reach consensus when all the nodes of the blockchain agree on the transaction.
Taking away the need of trust.
How is this different from how truth is determined in a central database?
Central database are controlled and can be manipulated to be the truth.
With a consensus, everyone has to agree and tell the truth because there are incentives like earning money. The consensus allows to verify the validity of data. In a blockchain there is more to win telling the truth.
In a central database, itâs far more complicated to verify data, the different companies involved cannot check the validaty of data.
Consensus is the agreement between all the nodes of the network, their job is to verify and then validate transactions incetivaised from a reward.
The main difference is that in a centralized database the control is mostly managed from only one authority that decide what is true or false and doesntâ need consensum from others part.
All nodes have to come too an agreement to let the transaction or adding something to the blockchain.
So its a 100% trusted by everyone and so the truth
a owner or someone that has acces to the centralized database can curropt information on his own and so its almost impossible to guarantee full trust or truth.
Consensus determines the truth in blockchain because everything on a blockchain has to be verified before it can be accepted as true or correct. The blockchain network has to âagreeâ about the correctness of the information being deposited on it. Truth in blockchain is not just based on trust, but everything has to pass the agreed standard/specifications. This eliminates the chances of cheating through false information.
Unlike a central database that can be manipulated by one person who has control/authority, blockchain cannot unilaterally manipulated or changed. Blockchain is about mutual trust and agreement by the network of computers. No single central power has all the authority and power to change the blockchain without the approval of the network.
1- It means that a number of participants should agree to make decisiones, therefore the decission process is made through a consensus of partricipants.
2- In a central database the truth is determined by one authority, so no consensus is needed when only one participants make the decission.
There are incentives for each node to verify transactions to bring consensus to the blockchain. Once the block is added it can not be removed. Incentives are what hold up the consensus system.
In a central database one person, owner or authority can change or alter the database at will. Essentially corrupting the database.