Homework on Consensus - Questions

Blockchain and Bitcoin 101
#3295
  1. What does it mean when we say that in blockchain, consensus determine the truth?

A network of decentralised computers are constantly checking and double checking the data and reach a global agreement on what is true and not true, if accepted as true its verified, then gets written onto the blockchain.

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

In a central database you are relying on a single entities version of verification, without anyone else having a say, whereas a decentralised system verifications are made when the network is in agreement creating consensus and a trust less system

2 Likes
#3296

  1. Consensus means that all the computers involved in the network confirm that the transaction is correct and accurate and allows it to be written into the back chain.

  2. ?? I think that truth in a central database is only determined by auditing and checking it? (I don’t really know how a database works)

1 Like
#3297
  1. The information is verified
  2. In a central database you have to trust that you are getting correct info
2 Likes
#3298

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus incentivizes the truth and is authorized by the collective network.

  2. How is this different from how truth is determined in a central database?
    A centralized database is controlled by a minority who control their version of the truth.

2 Likes
#3299

  1. Not just one party making the truth, its everyone is in agreement using a trustless system and verifying before its added to the blockchain.

  2. One party can decide and corrupt the system.

3 Likes
#3300
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Because everyone in the blockchain network needs to agree to (or at least not object) a transaction or information provided. That means, everyone involved has a say and has the right to express their views and facts before a transaction or information is approved.

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

In a central database, only one entity can approve information as truth without the others involved having any say in the process.

2 Likes
#3301
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Consensus in blockchain removes the need for trust as the decentralised collective have come to a consensus.

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

In a centralised database you are taking the word of a company, organisation, group, people/persons as to what the truth is.

2 Likes
#3302

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All parties (nodes) must agree on something (a transaction) for it to be validated and proven to be true - any person or company trying to cheat will be found out and will suffer a financial impact.

  2. How is this different from how truth is determined in a central database?
    In a central database, the data is not visible and is not easily verified by others in the network/ supply chain. Blockchain data is transparent and therefore verifiable

1 Like
#3303
  1. In blockchain consensus determines the truth because every party is in interaction with each other so it impossible to cheat when there is a global consensus.
  2. In a central database there is an authority who may or may not be telling the truth (need for trust). Blockchain is decentralised en therefore the need to trust is eliminated because everybody is playing by the rules.
1 Like
#3304

  1. It means that consensus mechanism verify all new transactions so that they follow the network rules.

  2. In a central database the truth can be manipulated by a central authority.

1 Like
#3305
  1. in blockchain, consensus determine the truth because all the members of network are incentivised in defence of their own assets or information, do if they see the block which is threatening it, they telling its wrong. And when majourity of network members are agree in adding or declining the bloch it is forming consensus.
  2. in central database which is not built on blockchain, truth - is what the operator of the database put into it. In blockchain - consensus- truth - is what the majority of network members agreed on.
1 Like
#3306

  1. It means that consensus is the agreement of network of the computers, they only agree on what is true and not true. All decisions are being made together and being double check. It’s all about removing trust, we don’t have to trust specific individual, company, entity. When you have this network of computers communicating with each other it is impossible to cheat because it is mathematically proven. We can have a situation when everyone is confident that everyone is telling the truth, not because we trust but we can verify by checking the network.

  2. In Central Database you have to trust specific individual, company, entity. Since it is controlled by someone the truth can be altered. Cheating is possible.

1 Like
#3307

  1. Consensus in blockchains are achieved when all parties of the blockchain can agree on a certain event.

  2. “Truths” in Centralized database are heavily dependent on trust in that on centralized party or group. With Blockchain consensus you don’t have to " Trust" anyone party you can simply verify that the " truth " exists as all parties in the blockchain must come to agreement in order to achieve consensus.

1 Like
#3308

  1. as nodes agree on blocks they form consensus as a community determining the truth together by proof of work

  2. in a centralized database the truth is determined by authority of the party that controls the database.

1 Like
#3309

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    It means, any information on the blockchain has been verified and is legitimate.

  2. How is this different from how truth is determined in a central database?
    In central databases, the information is not verified and at any time can be edited. Leading to massive distrust and false information.

1 Like
#3310
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Truth is determined through verification of transaction. The entire system needs to agree on a transaction for it to be accepted. It does not rely on trust but it is based on verification that comes from financial incentives. Like Ivan said all people love money and want to make money.

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

The truth in a central database is determined by the person in power that controls it.

1 Like
#3311

  1. Many different parties need to be able to verify information provided to be accepted as “true” so by doing this trust is replaced by verification.

  2. Any document can be manipulated within a a central database to show what the individual or entity behind it wants it to make you believe.

1 Like
#3312

1.All parties has to agreed on the truth on the network
2. Center decides on truth

1 Like
#3313
  1. Agreement about the truth so we all make $$$$$ money.
  2. Based on trust not trustless. We have to trust the inputs, accountants, and system records.
2 Likes
#3314
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    -> the network agrees wether a transaction is valid or not
  2. How is this different from how truth is determined in a central database?
    -> here someone with access rights just enters a value into the db.
1 Like