Homework on Consensus - Questions

Blockchain and Bitcoin 101
#3235

  1. It means that computers on the blockchain agree what is true and what is not true as to have verification of the chain supply network which is built ontop of incentives.

  2. Central Database, only the person/s entering information on database determines what is true and not true. No one knows if data has been audited.

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#3236
  1. Everyone agrees that transaction is ok
    2 not decentralized, someone is in charge.
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#3237
  1. What does it mean when we say that in blockchain, consensus determine the truth?

The blockchain consensus is a decentralized system by design to ensure that all participants in the blockchain agree on a single source of truth, and it is tolerant to faults since it follows a set of rules some sort of Mathematical Algorithim when validating an issue with transparency. It enable users to agree on a share set of facts. It is reliable to better decision making due to the incentives that are rewarded.

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

In the centralized organization or database (which again it can be tampered, rigged, due to human nature of conflict of interest), and the main characteristic is that the primary decision is made by the One person, usually the authority at the top and may not always make a reliable decision. In a centralized database there is only one participant contrary to a decentralized one where all participants arrive at a perfect agreement on a verified shared set of facts of an issue.

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#3238
  1. The group comes to an agreed truth that is driven by incentive.
  2. Centralized truth is trusting the word of a small group whose best interest could be dishonesty.
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#3239

[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?
    It means that every party in a group or community agrees 100% on the decision made.
  2. How is this different from how truth is determined in a central database?
    In a centralised (monolithic) database there is NO reference to other elements or parties to VERIFY that a transaction has INTEGRITY, that it is founded on Provenance.
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#3240
  1. What does it mean when we say that in blockchain, consensus determine the truth?

In blockchain, consensus determine the truth means a team of nodes worked together to verify a transaction.

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

In a central database the truth is determined by what the central authority says is the truth. This allows room for corruption or human error. In the blockchain network the system incentivizes a monetary reward which helps keeps users honest because it is still profitable.

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#3241

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    In a classic database detwork, you’ve to trust every single party to tell the truth. With a blockchain network, every party is connected and has to approve everyone else given data.

  2. How is this different from how truth is determined in a central database?
    You are not dependent on a system that works through trust. The blockchain is able to automatically checks the data within the network. It can prevent any frauds thanks to this system.

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#3242

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    in the BC everybody play by the rules and everything passes from it has to be validated, so it’s difficult to cheat and easier to determine the truth

  2. How is this different from how truth is determined in a central database?
    In central database who is in charge determine the truth whatever they like

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#3243
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    In blockchain, consensus is achieved when the decentralized network comes to an agreement (consensus) in a trustless manner on the validity of a transaction which are then added to the blockchain. Invalid transactions are ignored.
  2. How is this different from how truth is determined in a central database?
    In a central database, an authority body or administrator controls the network. Users of the database trust that central body or administrator will uphold the truth/validity of the database.
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#3244

Perfect…I like your graphics :slight_smile:

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#3245

Consensus creates an environment of consistency because the net work must all agree on the various transactions , which allows for more transparency.

Decentralize databases creates a more “trustworthy” system that is not controlled by any one system, database, or individual.

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#3246

1)Consensus determine the truth…ist that a decision on the blockchain is verified by several participants of the blockchain
2) In central database only one participant (central authority) who verify the truth.

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#3247

Consensus means that transactions are verified by math rather than a person or entity.

In a centralised database, data cannot be verified like this so you need a middle man to establish trust and this allows for corruption of data.

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#3248

Consensus is driven by financial incentives and mistrust

Centralised entities have the potential to manipulate their data and often have an agenda to pursue.

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#3249

[quote

  • What does it mean when we say that in blockchain, consensus determine the truth?
    truth or verification depends on a group node collaboration for the correct answer
  • How is this different from how truth is determined in a central database?
    a database is centralised and an authority, bad program or individual can interfere with the correct answer
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#3250
  1. consensus determine the truth means that mechanism of decrypting is a common standart and every one who take part in this system are mostly agreed

2 in a central database the truth is 100% for the owner and uncertain amount for others

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#3251
  1. if there is no consensus for a transaction or anything else, this transaction is rejected by the system and by that it is not part of reality. so only transactions within consensus are written to the blockchain and by that they are true.
  2. in a central database, truth is determined by the will of the admin (at least in the end). You have the admin password? you can say what is the truth.
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#3252
  1. Numerous incentivized machines all agree that what is on the blockchain belongs there and is valid.
  2. In a central database there is no accountability or accuracy validator of the facts presented.
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#3253

  1. In blockchain each transaction is verified by the network validators/miners and they need to agree on the validity of it before the transaction is added on the blockchain, thus becoming “the truth”. Hence the blockchain is trustless as it relies on network validators verifying transactions and reaching consensus.

  2. In a central database, whoever controls access to the database can record “the truth”. Hence in a central database trust relies on the person controlling database. As such centralised databases are also more prone to manipulation from a 3rd party.

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#3254

  1. It means that we have a majority agreement between a vast network of decentralized nodes verifying the accuracy of transactions.

  2. In a central database, there is a single individual (or small group of individuals) deciding the accuracy of transactions.

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