Homework on Consensus - Questions

Blockchain and Bitcoin 101
#3535
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    It means that the majority of computers can verify that the information they have is the same.
  2. How is this different from how truth is determined in a central database?
    In a central database, the truth is determined by a single validation which may be erroneous.
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#3536

1:Blockchain consensus determines the truth due to all info being on multiple servers therefore un temperable in any way.
2: In central database a single source determines the truth info, until it is tempered/hacked. due to it being 'centralized" instead of “decentralized”

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#3537

  1. Mathematical verification by multiple independent decentralized parties makes the logical conclusion be the shared truth.

  2. In centralized database the result is determined arbitrarily by an entity made artificially superior. Someone deciding vs. Everyone agreeing

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#3538

Homework on Consensus - Questions

1. What does it mean when we say that in blockchain, consensus determine the truth?
This phrase reflect how the approval process works in a ledger. Each node verifies if the current transaction is consistent with the data in the blockchain. However, each individual verification is not enough to accept the incoming data. The approval of a transaction in a ledger considers the answer of all nodes, processing them under certain mechanism. That’s why consensus determine the truth, because all nodes are considered in order to determine if something is valid or not.

2. How is this different from how truth is determined in a central database?
In a central database, the truth is determined by certain business rules that are configured into the DB, called constraints, which validate every transaction that arrives there before inserting them to a table.
In this case, a individual verification is enough to approve new data.

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#3539

1- when all the parties/stakeholders/neural networks verify a data, this data can only be accepted if there’s consensus, meaning if it’s correct/coherent among all parties. Therefore it’s the truth.

2- It’s peer to peer kind of… It’s can’t be but true because all the proccessing units are connected and proofreading one another. So unless the info is exactly the same everywhere by verification, it would be untrue, therefore unaccpeted.

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#3540

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    In blockchain everyone needs to agree a transaction is good, otherwise the transaction is discarded. The consensus is achieved based on the previous transaction.

  2. How is this different from how truth is determined in a central database?
    In blockchain, everyone holds the truth at the same time. In a centralised database, one person knows the truth when altering the database. It is very easy to corupt a centralised database

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#3541

Consensus is a way of verifying a transaction. Agreement by all nodes means a transaction took place and that we can have a high degree of certainty that it did actually happen and it was valid. This is taken to be a determination of the “truth”. The agreements incentives are money to the nodes.

In a central database, “truth” is whatever is written in it either by participants or by the controllers of the database. Database data can easily be controlled and manipulated by a single party so it is easy for the “truth” to be changed.

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#3542

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    -it means that when a new transaction has to be approved or declined on a blockchain, every
    validator has to come to an agreement, that this transaction is valid, when everyone “agrees”, it’s a consensus and the transaction then is being added to a blockchain

  2. How is this different from how truth is determined in a central database?
    -in a central database, the truth is just what a controller of that database decides and puts in a
    database, there is a need of trust

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#3543

What does it mean when we say that in blockchain, consensus determine the truth?
Consensus determines the truth as all nodes on the network must come to the same agreement (consensus) that a transaction is valid. This is achieved and backed by incentivization - mainly in the form of money.

How is this different from how truth is determined in a central database?
In a central database there is no consensus, a database user can input whatever they like and we just have to trust that what they’ve said is the truth, there is no validation and the only incentivization is for whoever input that data into the database.

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#3544

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All the decentralized databases must agree on a transaction. The network can be confident in truth not because of trust but by verification.

  2. How is this different from how truth is determined in a central database?
    There is a monetary incentive that encourages the decentralized network to check for truth. A central database is based on trust

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#3545

Hi,

  1. it means that the consensus algorithm is based on incentives which punish dishonest behavior, removing the need for trust (trustlessness). It could also mean that whatever the consensus mechanism produces is to be considered ‘the truth’ for that chain.
  2. in a central database there is no consensus finding, the central authority that controles the database determines the database entries.
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#3546

  1. All the computers involved in the blockchain can validate the new information in the blockchain. If there is no consensus in the network, the input is invalid.

  2. Consensus prevents fraud. Consensus incentivizes honesty and makes relationships trustless.

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#3547
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    The consensus, refers to the collaboration of the different nodes to verify the legitimacy of any transaction.
  2. How is this different from how truth is determined in a central database?
    Central databases can manipulate the entry of its own data.Therefore, the truth is determined by who controls it.
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#3548

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Multiple users, who are incentivized to find truth maintain the blockchain.

  2. How is this different from how truth is determined in a central database?
    In a traditional database a central authority determines truth, and they will be incentivized to not tell the truth.

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#3549

In blockchain, consensus determines the truth because the entire blockchain network decides what the truth is. As a group, determining the truth is financially beneficial and cheating the system is detrimental.

This is different from the truth in a central database because there is only a single point of truth, which is what the owners of the database say. A single member or a small group can manipulate the data of a database for their own benefit without any agreement from the larger contingent of database users. It s necessary to trust the owners of a database instead of having a trustless system where the truth is determined by consensus of the users.

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#3550

truth is determined by a network of computers that arrive at a consensus because they each are incentivized.

in a central database there is no incentivized network of computers that get toghether to achieve consensus…

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#3551
  1. Consensus works through a web system with many individual verifications of each transaction through the use of incentives.
  2. A central database operates through a chain system which is limited in its verification and allows for cheating.
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#3552

My answers to Consensus homework.

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    When several of parties forming network of computers, who will decide if incoming transaction are true or not, by check into their ledger/node, to see if it would make sense.
    Each computer on the network is incentivized to play by the rules, by verify the truth.
    If transaction is agreed by the network, it can then be written into the Blockchain.

  2. How is this different from how truth is determined in a central database?
    In centeral database, there can be one individual/company who tells if it’s true or not (more likely in their favor).
    It depnds on Trust.

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#3553

What does it mean when we say that in blockchain, consensus determine the truth?

“consensus determines the truth” means that several parties in the network make a decision together and that this decision is checked and verified by all of them. Only when consensus has been reached - > something (e.g a transaction) will be classified as true.

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

With a central database, one person or a group can decide what is true or false. Entries can also be manipulated or altered without being checked by several instances.

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#3554
  1. there is only 1 truth the majority truth, the majority consensus decide the truth just like in any functional democracy
  2. the truth determined by a central database is bi axed and is not the majority truth but the truth accepted by one central authority or just of a few, it is not a democratic system of money
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