Homework on Consensus - Questions

Blockchain and Bitcoin 101
#342
  1. Consensus is a community-multiparty decentraltzed agreement on what is true…
  2. For a central one party to decide what’s true is a simple objective
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#343
  1. What does it mean when we say that in blockchain, consensus determine the truth?

It means that the truth is what most participants of the network can agree on is the truth. If something doesn’t add up with other participant’s ledgers it will not reach network consensus and thus will not be added to the chain of valid block transactions. It will be discarded by the network as invalid.

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

In a central database truth can be twisted and manipulated by a single entity that controls the central database. The one in control needs no permission of other network participants to single-handedly change that data. This systems must consequently rely heavily on users trusting the owner of central database.

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#344

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

It means that on blockchain threw nodes and ledgers that the consensus mechanism makes sure that transactions are legitimate, agree on a mathematically proven truth.

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

Database is centralized so the trust of the database is in the hands of the entity that owns the data. So that entity can manage or editor manipulate the data.

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#345
  1. All transactions are verified by a decentralized network which come to consensus about the veracity of the transactions that are committed to the database/ledger.
  2. A centralized database is controlled by the author (centralized authority), which can arbitrarily decide which transactions are committed to the database/ledger.
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#346

Homework on Consensus - Questions

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

In blockchain, consensus determines the truth because the decision making and agreement of what information is true and what is not true is decentralized amongst multiple parties. Information and transactions are double checked to ensure their validity and acceptance into the network. All parties are able to achieve consensus and reach the truth without trusting each other. All parties are financially incentivized to tell the truth.

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

The truth in a centralized database is only as good as the trust of all parties with access to it and the quality of their inputs into it. In a centralized database multiple conflicting versions of truth can be determined or dictated by all parties with access to the database. A centralized database can lack mechanisms to ensure the validity and transparency of data being introduced into it. Moreover, centralized databases are susceptible to cheating by bad actors as inputs can be intentionally manipulated for selfish reasons with minimal or no oversight by other participants.

In contrast, consensus ensures that every party with access to the blockchain have an equal say in the validity of the information on the blockchain. Thus, all participants have a collective financial interest to secure the network from fraud.

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#347
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Multiple nodes from a decentralised network of computers need to verify the validity of a transaction. This consensus is achieved through financial incentives. If the network validates the transaction it gets added to the ledger, if not it gets rejected.

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

In a centralised database a central authority decides the truth thus requiring trust. The consensus provided in a decentralised blockchain removes trust (or the need for trust).

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#348
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    The network of nodes/miners all agree upon the transactions in order for the block to be
    added to the blockchain. It’s a consensus of the community, therefore it is true.
  2. How is this different from how truth is determined in a central database?
    A centralized database can alter and add or subtract data at whimsy dependent upon the mood or intention of the single authority. A very skewed perception of ‘truth’.
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#349

That’s a good response. I still don’t understand the nature of the financial incentive…hopefully that will come.

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#350
  1. On the block chain consensus determine the truth by allowing a networks approval or disapproval of any noted transaction. Consensus in a network gives an incentive to not cheat the system because authenticity must be verified.
    2.On the block chain there’s no need to trust, its trust less an open ledger because it need to be verified by the consensus of the network for a transaction/truth to be complete. In a central database a transaction or truth can be complete by a central authority or individual. We must then trust that it is true and the only way we can find the truth, is to open the ledger of the authority that it originated from.
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#351

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus determines the thruth because in blockchain we all(nodes) have to agree that something happened. If there is not an consenus on the network about an specific transaction, that transaction did not happen and it will not be included in the next block.
  2. How is this different from how truth is determined in a central database?
    In central database the truth is determined by the owner of said database. Centralized systems work with one superior who can choose what to included and what to exclude.
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#352
  1. It means all involved nodes must agree to include a transaction in the blockchain. They will do so because the are incentivised to do so.
  2. In a centralized database it can be changed by an individual.
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#353

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    If in the network the majority validate a transaction, so this is the truth.

  2. How is this different from how truth is determined in a central database?
    In a central database Authority is determined by the owner (or developer) and you need to trust the Authority, hoping he never change the ledger…

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#354

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

    Consensus determines truth by watching the whole party agree and follow the rules. As new transactions are created, consensus validates them as they become true transactions.

  2. How is this different from how truth is determined in a central database?
    Central database can have cheaters and can corrupt any data by the party in control.

#355

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    => when every node agrees on the same

  2. How is this different from how truth is determined in a central database?
    => truth is determined by trust in a central database

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#356
  1. In a Blockchain, as a redundant network of decision makers, truth is determined by the accordance of all.
  2. Truth in a central database is determined by an individual or group of individuals whom may be prone to human errors or with ulterior motives. As well, independent auditing and truth discovery is tenuous at best.
1 Like
#357

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    it means that the information put on the blockchain must be accepted and verified by the participants of the network before it’s stored

  2. How is this different from how truth is determined in a central database?
    in a central database the truth is determined by whoever controls it (which could be only one person) in blockchain the truth is reached by consensus which means that every participant of the network can verify the transactions themselves

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#358

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

Because the consensus involves many parties that agree on a truth, this consensus works based on different protocols that ensure transparency through incentives, where it is assured to reach a truth in common without conflict interests. So the consensus desentralizes the decisions.

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

A centralized entity cannot reflect truthfulness and real transparency since it is subject to the possibility of undergoing changes made by a single party, which may be subject to certain interests.

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#359

[quote=“ivan, post:1, topic:8425”]
Homework on Consensus - Questions

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

Consensus determines the truth in blockchain by validating an input or transaction (based on an established set of rules that the community or network agrees upon) as the accepted truth.
2. How is this different from how truth is determined in a central database?

Truth is determined in a central database by trusting that the information given is valid.

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#360

  1. There are multiple copies of the blockchain that are continuously checking with each other. If all of the data agree, then concensus is achieved, and that determines the truth. Any conflicting data is ignored.

  2. If there is only one central database, then you have to trust that the data itself is correct, and it was added correctly. You can’t instantly verify the data.

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#361
  1. Consensus is an agreement of truth by the network of participants
  2. In a centralized system the truth can be in disagreement with the majority of participants.
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