The multiple decision makers have to agree on a transaction and verify the information. This prevents fraud and accidental loss.
Whereas with a centralized database, the owner holds proof of authority, which gives the power to corrupt data
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- it means that by having a consensus that we’re removing trust and replacing with proof/trust.
- it is different bc the trust is only in the hands of a central authority so they could manipulate it vs on blockchain there is not a central authority that can be manipulated
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Consensus determines the truth by verifying each transaction by checking the ledger to see if the transaction is possible and correct. Normal databases rely on trust when expecting the information to be true.
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- What does it mean when we say that in blockchain, consensus determine the truth?–> everyone in a chain is incentivised to tell the truth in orderr to gain , so when all agree into one given fact then we have consensus
- How is this different from how truth is determined in a central databa–> in a central data the truth is determined by one trusted entity or more but we can never confirm if they are honest
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What does it mean when we say that in blockchain, consensus determine the truth?
We mean that because everyone involved is monetarily incentivized to “tell the truth”, we get a consensus on transactions that ultimately is the truth. On blockchains because it is actually a disadvantage to cheat and mispresent some information, the only advantageous outcome for all parties involved is to not cheat and tell the truth. -
How is this different from how truth is determined in a central database?
In a central database, anyone can collude with another party to lie about results. If they can convince enough people to go along with it by incentivizing them, the truth may be changed in a central database. This is nearly impossible to do on the blockchain as you would need to convince all nodes to do something the wrong way.
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- A network of computers, incentivized to be truthful, verify information together.
- This is different compared to central databases because blockchains, unlike central databases, have incentives for being truthful. Central databases have a singular entity decide truth, requiring trust.
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- Consensus determines the truth means that the truth is determined by the may different nodes who operate the blockchain. Several different parties collectively come together towards an agreement.
- This is different from how truth is determined in a central database because the truth is determined by the individual who owns the database rather than the many different individuals. There is no consensus in a central database.
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Consensus determines the truth in blockchain because every network in every step of the way has the factual information and can verify it and in doing so is incentivized. No information is hidden which creates trustlessness.
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In a central database, only one entity knows the factual information and can manipulate it to benefit or incentivize themselves.
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With blockchain, the network of nodes needs to provide consensus that the information is correct. If the network agrees to it, then it is added to the blockchain.
With a database, there is a central authority in charge of managing the database. This information can be altered by people with the correct access.
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- Consensus determines the truth because all server nodes are incentivized to tell the truth and thus determining the truth by having a distributed consensus among server nodes.
- Central database is a single point of a truth which cannot be verified and has to be trusted without support. Central database can be easily hacked or simply have misleading information.u
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What does it mean when we say that in blockchain, consensus determine the truth?
In a blockchain truth is determined through consensus. Consensus is the verification of the truth by cross referencing the data through the chain. -
How is this different from how truth is determined in a central database?
In a central database the truth is determined by the central authority in charge of the database.
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- That on the blockchain network in order for a transaction to be considered the true, everyone has to agree it to be true or else it gets rejected from being added to the blockchain.
- Truth on a centralized DB does not require any form of consensus by parties, instead it relies on authority. A centralized DB (authority) can be manipulated, hacked, edited, erased.
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What does it mean when we say that in blockchain, consensus determine the truth?
==> Consensus by definition means general agreement on a decision/idea amongst multiple parties. Within a blockchain, a transaction is considered true if and only if multiple parties (nodes) agree to the transaction. Also the key thing here to understand is that the behaviour is incentivized for the stakeholders and hence bad influences can be controlled. -
How is this different from how truth is determined in a central database?
==> With a centralized database, the decision is restricted to key players / owners of the system which may or may not be in agreement to all parties involved.
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Only when agreement between the blockchain nodes is achieved it is accepted as the truth
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A central database an central authority determines what is correct or what is the truth
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- There are multiple decision makers that verify the transactions in the network who are incentivised to tell the truth with mining fees.
2 In a central database people need to trust the information given by the producer of the information but thy have no way of verifying whether it is true. With consensus there are multiple validators which reduces the need for trust as the information is verified by many.
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- What does it mean when we say that in blockchain, consensus determine the truth?
consesus, in other worths, agreement on something, verified by multiple sources. If all sources are agreeing upon something they determine the truth. - How is this different from how truth is determined in a central database?
in central databases, it is possible that the database is controled by some entities that do not get verified and therefor they can change the database in their favour
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What does it mean when we say that in blockchain, consensus determine the truth?
Concensus removes trust and is achieved through incentives. All computers in the blockchain network are incentivized to tell the truth. So when they reach consensus that a new transaction is valid/invalid we know it’s the truth because all computers are incentivized to tell the truth. -
How is this different from how truth is determined in a central database?
In a central database there’s one central authority that manages the database and decides what can be added/removed from the database. So in a centralized database we need to trust the central authority that they are telling the truth.
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- What does it mean when we say that in blockchain, consensus determine the truth?
- In blockchain, consensus determines the truth through all of the computer nodes around the world. All of these computers are apart of the Blockchain network and these computer nodes all have a copy of the blockchain and the public ledger of all transactions. When a new transaction comes through all of the computer nodes must decide whether this transaction makes sense or not and if it can be accepted into the network. All of the decisions on transactions are double checked and made together by all nodes.
- How is this different from how truth is determined in a central database?
- In a central database, there is a central authority who can assign administrators to certain pieces of data. These administrators can then add or remove the data in any way and no one outside the authority can confirm these actions. In a central database there is usually 1 single person who is making the decisions when no one else has a say.
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Yes, and everyone with a full node can verify transactions, blocks etcetera and then these nodes will propagate them to other full nodes in their list of peers. Miners are the one who can put transactions into a block with financial reward. When some information isn’t the same as all other nodes, the malicious node will be rejected and get on a blacklist for a while.
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What does it mean when we say that in blockchain, consensus determine the truth?
All transactions and decisions are double checked by the network, and only approved when the parties in the network agree. All parties have the incentive to achieve truth.
How is this different from how truth is determined in a central database?
A central database is controlled by a central party who is able to change the contents. Therefore it is not certain that the contents represents the truth.
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