Homework on Consensus - Questions

Blockchain and Bitcoin 101
#3555

What does it mean when we say that in blockchain, consensus determine the truth?
It is determine the truth as all the network must agree on the data added to the network to validate it. All data must be verified, no one can cheat.

How is this different from how truth is determined in a central database?
Intermediaries, an entity can manipulate the data, leading to corruption. In a central database you need to trust, and removing trust is what we want to achieve with open blockchain. We use math to verify everything.

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#3556
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    In blockchain everyone must agree upon one truth. What is not found to be true is discarded.

2.How is this different from how truth is determined in a central database?
With a central database one person or group decides the truth.

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#3557

Reaching an agreement. Removing trust.
Incentives.

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#3558
  1. It means that other computers have to determine whether the transactions that just took place are legitimate or not.
  2. This is decentralized. Computers all across the world have to agree that the transaction that just took place is legit - rather than just one source of truth, we have hundreds of thousands of sources of truth and a big portion of them have to agree that a transaction is legit before its added to the ledger
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#3559

1 - We need all parties to be aware of a transaction and validate it to turn it truth in blockchain.

2 - A entity with has control of the database can decide what is truth and manipulate what happened.

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#3560

1.Knowing the fact that the Consensus between the supply chain will remove the trust factor and keep the blockchain free of any manipulation.
2. The centralized database can be manipulated leaving the trust factor volatile to change from within the system.

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#3561

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

Truth is determined because a transaction is confirmed and validated on the blockchain by multiple parties involved reaching consensus.

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

Truth is determined in a central database through trusting the single authority of this database who decides the truth. With consensus, multiple parties decide whether this information is true or not.

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#3562

  1. The Network collectively decides what is true or false.

  2. A central authority is in charge of the truth. One entity makes the decisions. They could change it to how they see fit.

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#3563

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    We mean that the system works through verification. Each part of the network works to verify another part of the network.

  2. How is this different from how truth is determined in a central database?
    This is different from a central database because this system is run by the network itself, not individuals.

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#3564
  1. It means that truth can only be reached by consensus. Consensus is that the majority of nodes (all of them with the same information -ledger- at the same time) “vote” which new info is really truth.
  2. Because in a central DB one authority (person, company or organization) can manipulate and determine an arbitrary truth.
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#3565
  1. Consensus gives you the ability to track every step of the chain, or network, of a supply chain and know if something/one is being truthful.
  2. Compensation is rewarded for telling the truth and verifying the truth.
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#3566

  1. Blockchain is run by provenance and consensus. One needs the other in order to verify transactions. Consensus is when multiple ledgers come to the agreement over a certain transaction and verify it in order to make it plausible. So no consensus by all = no truth or verification.

  2. The truth in consensus is based on an incentivization system where users are given a reward for being honest/truthful. A central database is based more on trust and not verification via a reward system. Also centralized databases are easily corrupt, bought or altered.

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#3567

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    1A: A consensus determines truth by asking a majority (network of individual computers) on whether the transaction to be added to the blockchain is correct.
  2. How is this different from how truth is determined in a central database?
    2A: Truth on a central database is determined by trust, meaning anyone can add or change data independent of a global networked majority. In blockchain the global consensus is incentivised to tell the truth through rewards gained in in mining (pow) or staking (pos). Central databases do not have a global consensus.
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#3568
  1. Because a network of computers are to agree as to what the truth actually is, based on previous “set in stone” facts. This means input has to be verified before it can be added to the blockchain.
  2. In a central database there is only whoever runs the database as the “final authority” with no oversight. Therefore, criminals can be adding info with no network of computers to ask for clarification and proof.
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#3569
  1. As nodes are incentivised to tell the truth, whatever the majority of nodes agrees on is considered the truth and is added to the blockchain.
  2. Common databases are centralized, one party is trusted to change and modify said database and other users trust it reflects reality.
2 Likes
#3570

  1. This means that a network of computers comes to a consensus to determine if a transaction is legit or fake. These checkers are incentivized to tell the truth.

  2. There is real time checking involved essentially doing away with the need for trust or a central authority to determine what is true and what isn’t. Manipulation cannot take place.

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#3571

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    That all nodes/computers have agreed come to a consensus that the transaction did take place, therefore confirming/entering/placing the transaction into the blockchain.

  2. How is this different from how truth is determined in a central database?
    As it is carried out in real time and is a trustless consensus, it is verified by the network.

2 Likes
#3572
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Looking at a dictionary definition of consensus, one example brings up two lines with the specific words / word groups unanimity / group solidarity. (MW) Looking further, unanimity means agreement and consent of all or group solidaity. The decentralized nature of the block chain database requires some form of group solidarity for any transaction to be considered valid. That is, an entry into the decentralized database will require the consent of all participants, nodes, before an entry may be posted. Thus a posted entry is considered to have passed the unanimity required and is, once posted, considered to be verified and the truth.

MW - https://www.merriam-webster.com/dictionary/consensus

  1. How is this different from how truth is determined in a central database?
    A centralized database will allow, in general, a central authority to enter and change data as long as the data fits the data structure of the specific element. Thus the truth is what the central authority states it is. A consensus of one, which is easy to subvert by the authority or anyone who gains high level access to the single node. Such is not readily, if at all, possible in a decentralized situation.
2 Likes
#3573

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

Network validation based on math

Decentralized decision making

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

The owner can tamper with the database, deliberately or by mistake, either way it will affect the outcome of what the truth really is. It is hard to make an audit to establish if they have made any changes.

2 Likes
#3574

  1. It is the network as a whole that has to agree on the contents of the ledger. The truth is determined by a consensus in the network.

  2. In a central database there is only one set of data and one authority, therefore the truth is entirely dependent on trusting both of them. A central database can be tampered with, but a network based on consensus cannot.

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