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What does it mean when we say that in blockchain, consensus determine the truth? blockchain, consensus determines the truth, because it uses 7 or more parties on the blockchain to verify and all come to a single final understanding that everything checks out. Also there is a reward for telling the truth.
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How is this different from how truth is determined in a central database? in a central database trust can only be determined by per individual basis, but there’s no real checks and balances to verify the truth on the individual case,
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A majority of nodes on the network must agree to the legitimacy of the transaction by querying that the transactor has the funds to perform said transaction.
Central databases can be manipulated or corrupted, and difficult to keep in check/audit.
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- What does it mean when we say that in blockchain, consensus determines the truth?
The network (nodes) collectively verifies if the data given is true or false. Thus there is an incentive to verify the truth that then pays the (Nodes/mining)
- How is this different from how truth is determined in a central database?
The blockchain connects all parties involved in a transaction and the blockchain unilaterally confirms if the data is accurate.
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That different entities must reach an agreement to what is the truth. Since they are rewarded to tell the truth, it will be much harder to tell lies and get away with it.
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Central database is not necesserily incentivised to tell the truth. It can be MUCH cheaper for bad players to corrupt the central database.
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- Consensus means a all parties of the network have to accept a transaction before it’s processed.
- Central databases can be overwritten by anyone with the right access, without the need for the network to verify the change.
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1.What does it mean when we say that in blockchain, consensus determines the truth?
Blockchain has a decentralized network of computers, where are these devices validate a single transaction. That means they all agree upon a transaction unanimously, making it impossible to cheat.
- How is this different from how truth is determined in a central database?
Central database decisions not really be contemned, above that its decisions can easily be manipulated. While on the other side in the blockchain it’s impossible to make a false claim and also being paid for making honest decisions.
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What does it mean when we say that in blockchain, consensus determine the truth?
Consensus means that all involved parties (ledgers) decide on something together --> trustless system. Whatever is decided upon, is added to the blockchain. No single party can add any information on its own, without consensus of all other members of the network.
How is this different from how truth is determined in a central database?
Truth in classic databases is determined by whatever anybody with the corresponding rights stores in it.
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Homework on Consensus - Questions
- What does it mean when we say that in blockchain, consensus determine the truth?
The bitcoin network consensually need to determine and verify if a transaction is to be included in the blockchain. More entity check the authenticity of the transaction making it safe and trusted. All the entity (computers) in the network also get incentives to tell the truth. - How is this different from how truth is determined in a central database?
In a central database it’s difficult to know who’s party is telling the truth. There are not incentives for telling the truth therefore entities could possibly be dishonest for personal gains. It is hard to verify everyones informations in a centralised network.
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What does it mean when we say that in blockchain, consensus determine the truth?
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Consensus is removing trust and its achieved through incentives.
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A consensus algorithm is a mechanism that allows users or machines to coordinate in a distributed setting. It needs to ensure that all agents in the system can agree on a single source of truth, even if some agents fail.
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It’s based on trustlessness
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Consensus is a mechanism that achieves trust and its achieved through incentives
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All information been double checked
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Several parties are coming together to see if it’s true transaction
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No parties can cheat
How is this different from how truth is determined in a central database?
A central database is centralised to the truth of the database is in the hands of the entity that own the data. That entity itself or owner can manage edit delete and manipulate the data.
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In blockchain all parties involved are connected and computers always verify the information in a decentralized manner. Because blockchain is based on fundamentals like math and science we know and understand that it is final, complete and true.
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Central database is managed by central authority and it can be changed at will, the decentralized network that is incentivized to play by the rules because of financial gain allows for trustless approach to all types of things without risk of fowl play.
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- What does it mean when we say that in blockchain, consensus determine the truth?
Consensus removes trust. consensus is achieved only if the data match all the copies in the network and is rewarded.
- How is this different from how truth is determined in a central database?
In a central database the truth is determined by a single entity. If a file is corrupted or modified then the truth is lost.
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- What does it mean when we say that in blockchain, consensus determine the truth?
Consensus creates validity by means of incentives.
- How is this different from how truth is determined in a central database?
A centralized database doesn’t have the checks and balances, and thus, reliability, of an interconnected non-centralized network.
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- What does it mean when we say that in blockchain, consensus determine the truth?
It does not allow the one version of the “truth” to be considered as a everyones guess, and only if everyone agrees with it its considered to be real truth and can go true
2.How is this different from how truth is determined in a central database?
A central data base is basicly build up by a central authory(single entity) that enforces rules of the network and hence there is always an consensus.
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1.) Consensus determines the truth because all the parties in the blockchain must confirm that the information is true and accurate before it can be added to the blockchain.
2.) in a central database, the truth is based on trust between all of the parties involved and a certain part of the supply chain may be changed or tempered with. With consensus, all of the information is publicly viewed on the blockchain and therefore trust is eliminated.
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It means that it is a common consensus among many decentralized units that a task or transaction is correct. If just one unit doesn’t agree with the statement, there is no consensus and the transaction will not be approved
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In a central database it is the individual who defines the truth, in the blockchain there are many decentralized units that define the truth
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It means that the majority of the participants decide what is true.
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In a Central database the authority determines what is and is not true.
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More likely this would cause the node to fork because it would mean the node is not in consensus with the rest. 
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- On the Blockchain, verification of transactions by the community determines the truth, the community is incentivized to verify.
- A central authority determines the truth and it is subjective to their “truth”. It can be altered.
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- It determines the truth by members of the network who verify a transaction. This way the system cannot be cheated.
- The data can be corrupted by the database owner.
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- Remove trust
- everyone has to play be the same rule.
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