Homework on Consensus - Questions

Blockchain and Bitcoin 101
#3315

1 - Determining the truth by blockchain consensus means that the validity of data is verified in a trust-less way.

2 - Blockchain determines the truth by a decentralized network of incentivized nodes each verifying the truth.

1 Like
#3316

Homework on Consensus - Questions
1. What does it mean when we say that in blockchain, consensus determine the truth?
Consensus determines the truth because the blockchain operates with a trustless system with verified transactions.

2. How is this different from how truth is determined in a central database?
A central database uses trust and the blockchain uses verifications.

2 Likes
#3317

Homework on Consensus - Questions

1. What does it mean when we say that in blockchain, consensus determine the truth?
It means that all information on the blockchain about a transaction is verified and agreed on by all parties involved. Don’ t trust, verify.

2. How is this different from how truth is determined in a central database?
A central database is based on trust instead of verification.

2 Likes
#3318

1)What does it mean when we say that in blockchain, consensus determine the truth?
It means that several parties in the database determine verify an entry, via incentives.

2)How is this different from how truth is determined in a central database?
Its different because in blockchain information is transparent and cant be edited by centralized body.

1 Like
#3319

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    In blockchain several parties/a network of computers decide on something. They decide if a transaction makes sense or not. All the parties are incentiviced for playing by the rules. Plus one can verify if everything went according to the rules. We don’t have to trust.

  2. How is this different from how truth is determined in a central database?
    Usually a central database is not trustless. I.e. we have to trust that one institution/one central party is playing by the rules.

1 Like
#3320
  1. Consensus means all transactions on the blockchain are verified and can be trusted to be true. This creates a trustless consensus where no party involved needs to rely on trusting another party; the blockchain can be trusted.
  2. Central databases can be altered and require trust between two parties to be determined to be true.
2 Likes
#3321

What does it mean when we say that in blockchain, consensus determine the truth?
A Blockchain consensus is reached by a collective network of databases, that have checked verified and agreed on the ‘consensus’ of a transaction or information – either being true or false.

The consensus has been reached collectively by the network, not a sole entity, organisation or company.

How is this different from how truth is determined in a central database?
Central databases rely greatly on trust of security, ability and honesty between database owners, and service providers.

Data on normal databases can be edited, manipulated, removed or added. Alongside security risks associated with targeting a central database.

2 Likes
#3322

[quote=“Baidis, post:5, topic:8425”]

[quote=“ivan, post:1, topic:8425”]

  1. What does it mean when we say that in blockchain, consensus determine the truth?
  1. How is this different from how truth is determined in a central database?
  1. When we say that in blockchain, consensus determines the truth it means that all nodes comparing transaction data have verified that there is no funny business and if there is any the code comparing the data between the nodes will flag it up and it will not be accepted as true.
  2. A central database ie one point of storage will accept data as true without comparing through multple nodes therefore making it easy to corrupt.
1 Like
#3323

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Each node on the network is incented to read the blockchain and verify that the transaction is valid. Consesus means that multiple parties must agree and those parties are incented to tell the truth.

  2. How is this different from how truth is determined in a central database?
    In a central db there is a chief or master administrator that has the power to alter the data without a check and balance in real time. An audit post event might find the error, but this will unlikely happen in real time.

1 Like
#3324

  1. What does it mean when we say that in blockchain, consensus determines the truth? Consensus determines the truth by verifying transactions on the blockchain to be accurate. A global consensus is reached by all nodes on the network all agreeing on what transactions are true or false.

  2. How is this different from how truth is determined in a central database? Truth determined by a central database is achieved by the database solely verifying all the data it contains. However, the truth determined by consensus does not have a single point of failure or verification. The consensus in the blockchain is trustless and all nodes on the network will verify the data on the network allowing redundancy of all transactions to be verified as true.

2 Likes
#3325

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    A: All members participating in the (decentralized) network for that chain must agree in order to validate the transaction. If all members agree, it is considered the truth. Because all members want to

  2. How is this different from how truth is determined in a central database?
    A: There is not consensus or use of incentives as the database is centralized; therefore, it is not possible to remove trust.

1 Like
#3326
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Consensus determines the truth in blockchain because many parties in the network verify or reject all requests to be added to the lager.

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

It is different in the way that with a central database manipulations can be made in this database. And no external other parties check to confirm or reject that the data is correct.

1 Like
#3327

Answer

  1. Consensus determines the truth by different nodes. If the information is false the data will be discarded as false. If it is the truth it will be added to the blockchain.

  2. Central database truth is determined by individuals just saying the data is the truth which cant be trusted. In central base the truth can be altered, false, or lost.
    Truth on the blockchain is the truth because it is decentralised and consensus has been reached.

2 Likes
#3328

  1. Consensus is when all players (computer) within the network agrees that transaction is valid. So if everyone agree that transaction is valid (consensus), then that transaction is verify (truth). Because every player (computer) within the network has a copy of the ledger (blockchain), everything is constantly being verify (audit).

  2. In a centralize database there is only on copy of the data. So whoever own that copy can change and alter the information without anyone knowing.

2 Likes
#3329
  1. What is truth is desided by all members of that blockchain. And it is dicided algorithmically without trust.
  2. It is determined by trusted person putting the data. Sometimes a few other trusted people/scripts can review/validate the data.
1 Like
#3330
  1. The network decided what is the truth and false. The most recent answers will change state of an transaction.
  2. In a central database the (owner) can decide what is truth and false.
1 Like
#3331

  1. In blockchain consensus is reached through a process of incentivized verification of the transactions taking place on the block chain. A network of computers or 'nodes" must all agree to accept information added to the block chain. Each of these nodes is financially incentivized to tell the truth and thus verify the transaction collectively. This removes “trust” from the process. People can make money for telling the truth and loose money for being dishonest. This is decentralizing the process and adding multiple copies of the transaction at different nodes to verify all data being added to the blockchain.

  2. In a centralized network truth is determined through a process of centralized trust. One person or entity verifies the transaction and holds the records of the transaction. If that person or entity chooses to be dishonest or is outright corrupt the truth can be altered.

2 Likes
#3332

  1. Consensus determines the truth in blockchain because a transaction will not execute unless all of the verifying computers agree that everything is correct or ok to approve.

  2. This is different than a central database because only one central location makes the decision as to whether a transaction can be approved or not.

2 Likes
#3333

Consensus determines the truth on the blockchain because all the members of the network verify which transaction are legitimate.

Central database’s has an authority oversight that can manipulate the data into their favor

1 Like
#3334
  1. Consensus/ Node agreement verifies the blockchain, transaction or each step distribution or any action taken.

2.1 entity decides validity which is more open to error or corruption.

1 Like