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The blockchain is on a peer to peer network. Changes or transactions on the network need to be agreed on by the majority of peers. If they all agree the consensus determines the truth, if they don’t then the information is discarded.
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A central database is controlled by a central authority. The central authority can determine itself what the truth is and is not beholden to a verified consensus.
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Several parties must agree (i.e. reach consensus) before information can be deemed verified and added to the blockchain. Each of these parties is incentivized to tell the truth and verifies the information against their own copies of the database. Once consensus is achieved, the information has been determined to be truth through double checking of several copies of the blockchain, and only then can it be added to the database, thus consensus determines the truth.
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In a centralized database, the information added by the designated central authority is determined to be truth. However, this information can be manipulated/changed at any time, and so by using a centralized database you must trust the central authority to provide verification, security and truth.
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- Consensus between multiple parties/ nodes must be agreed upon in order for a transaction to be verified thus making it trustless and truthful.
- It is decentralized, trustless and set in stone.
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1 consensus removes the need of trust as people are unable to cheat that gives confidence people are actually saying the truth
2 to many opportunity’s for the truth to be manipulated by authority (like a game of chinese wispers)
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1- The truth is determinated by a majority of computers, that are part of the network, that validate the transaction.
2- The difference is that each computer is autonomous form one another, decentralized, and are rewarded for telling the truth
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Consensus determines the truth by all computers in the network coming to an agreement. This is achieved by the computers having incentive to tell the truth via rewards etc.
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This is different from a central database as it completely removes trust. You do not have a network of different companys/customers trusting each other. Everything can be verified in consensus.
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When all the computer nodes need to come to an agrement on the transaction it creates a 100% verification on that transaction which = truth
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Truth is verified by 1 entity that you have to trust is telling the truth
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- What does it mean when we say that in blockchain, consensus determine the truth?
Consensus determine the truth because all of the nodes or participants of the network agree or approve a transaction, they all verify that the new entry in the blockchain is valid and only then a new block is added - How is this different from how truth is determined in a central database?
In a central databasethe owners of it can approve or deny a transaction without other agreeing or verifiynf if a new antry is valid or not
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All computers in the network agree with each other and verify. There is an incentive with money to tell the truth.
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In a central DB you have to trust what that person or company says. Not easy to verify. Audit?
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All networks within a database must come to the same answer for a consensus to be agreed upon.
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A central database will not have multiple contact points along the chain verifying.
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1 Consensus is a proof easily verified by the majority in the network or rejected
2 Central database is managed by central authority which isn’t trustless
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What does it mean when we say that in blockchain, consensus determines the truth?
All computers in the blockchain network come to a consensus to verify a transaction, and they are incentivised with money for doing so. -
How is this different from how truth is determined in a central database?
A central database is not decentralised and the information in it can be changed whereas in the blockchain it is permanent.
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- What does it mean when we say that in blockchain, consensus determines the truth?
- That means multiple nodes have looked at and approved that a transaction is valid. It is not just approved by a central entity. If everyone says its valid then it is.
- How is this different from how truth is determined in a central database?
- Because in a central database, not everyone can come in and look at your books and transactions. There is just a trust factor that you are doing what you are saying you are doing as an entity.
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Because the network is incentivized to say the truth. It is not possible to end up with an untrue determination in this kind of environment.
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Central database is based on trust, that is why we have to accept the things as they are, but in blockchain we can track the transactions and find out if it is true or not. In central databases there is an option of being untrue but it is not a case in blockchain.
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- That the nodes in the network verify every transaction, and they do so because they are incentivized
- In a central database a central party needs to be trusted to tell the truth, and therefore is not trustless.
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Consensus is the manifestation of the axiom, “Don’t trust; verify!” In other words, truth is never accepted by the mere claims of a person/business/product, but rather, truth is verified by a distributed network of validators. These validators, by the way, are incentivized to act with integrity and, conversely, penalized when they act outside of integrity.
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In a central database, truth claims are made by a single company/product/etc. and, consequently, the “truth” depends entirely on trust, not on verification.
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- What does it mean when we say that in blockchain, consensus determine the truth?
- all computers/parties news to verify the information
- How is this different from how truth is determined in a central database?
- in central databases it is based on trust, Possibly without Any verifications What So ever.
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What does it mean when we say that in blockchain, consensus determines the truth?
It means that through consensus the blockchain network is able to remove the need of trust and gives confidence all transactions are true.
How is this different from how truth is determined in a central database?
The truth is determined differently than a central database because of consesus through decentralization.
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1.) Consensus determine the truth because it remove trust through verification of transactions.
2.) Truth is not always true in a central database. Networking through supply chain makes it difficult to cheat by verifying transactions. Incentives are the keys to play by the rules and to be honest.
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Consensus =trust verfication=can’t cheat