Homework on Consensus - Questions

Blockchain and Bitcoin 101
#3816

  1. In blockchain we can tell how consensus determine the truth by incentive that eliminates what’s not true.

  2. The difference in central database is that one doesn’t know if its telling the right information only one can assume and think its right compared to consensus, where its accurate.

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#3817

  1. Consensus means every node in the blockchain needs to approve a transaction before it becomes valid. If one transaction enters but it is not confirmed it is invalidated.

  2. In a centralized database information and transaction can be manipulated either at will or due to human error.

Notes - Q1 the verification party is often unrelated and unknown - which removes a human bias. Decides if it is to be included. therefore trustless

Q2. it relies on good will of the central authority. requires ‘trust’

Keywords - trust, immutable

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#3818

[quote=“ivan, post:1, topic:8425”]

  • What does it mean when we say that in blockchain, consensus determine the truth?
    When we say Blockchain consensus determines the truth we are saying the decentralized network must come to an agreement that a block is valid before it is added to the blockchain and that determination.
  • How is this different from how truth is determined in a central database? In a central database an entry can be made, changed, or deleted by a single individual regardless of if the information is true or not. There is no unbiased verification of this information.
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#3819
  1. Because blockchain is decentralized, it only works by consensus. The chain does not create a hash if there is an error. All transactions are confirmed and transparent so that authenticity is verified.
  2. A central database is not transparent. A central database is not backed up by a web of parties financially incentivized to tell the truth. A central database offers no confirmation of authenticity because there is no public ledger and no consensus.
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#3820
  1. What does it mean when we say that in blockchain, consensus determine the truth?

A network of computers have a copy of transaction and all have to agree transaction is legit.
2. How is this different from how truth is determined in a central database?
Can be double checked and these miners are also financially incentivized. It is not decided by one person or entity

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#3821

1- consensus in blockchain means all the participated nodes have to agree and consent on certain decision before realizing it or adding it into the blockchain, hence finding the truth or false

2- in a central data base, only the data base owner has the authority to decide whether it was true or false

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#3822

1 Decision are been made together, and the network is accessible to everyone right because of the interconnectivity, and the truth is incentivized.

2 Data can be corrupted, it need only a proof of authority, and it’s not for all verifiable.

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#3823

What does it mean when we say that in blockchain, consensus determines the truth?
All nodes in a network agree that a transaction is true or false and all make the same decision on the action/s to take.

How is this different from how truth is determined in a central database?
Consensus incentivises the honesty of each and every individual involved, and disincentivises dishonesty. Each individual is accountable.
A central database only holds the centralised authority accountable, and not necessarily towards honesty.

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#3824
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    It means that something was accepted as truth by the entire decentralized parties in the network.
  2. How is this different from how truth is determined in a central database?
    Truth is not verified easily in a central database. This means it often is left to trust in the central database.
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#3825
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Consensus is build on top of (finance)incentive , its a agreement of the network on state changes based on the most recent transaction. If the network is agreed the transaction is ok it gets in the blockchain , if not get discarded.
  2. How is this different from how truth is determined in a central database?
    In a central database there is a central authority that decides the truth.
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#3826
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Consensus in blockchain means making a decision that is agreed to be the truth by all the other nodes in the network. This means that all the nodes have the same data in their ledger and is regarded as the truth for the entire network.

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

Central databases achieve consensus by trusting that the input within that central database itself as true without having regards if the input was indeed true or false. There is no mechanism in which the database mathematically proves that its truth aligns with other networks.

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#3827
    1. What does it mean when we say that in blockchain, consensus determine the truth?
    • Consensus is the process in which data is being validated and verified by multiple networks, if the networks have a common agreement on the data that is being transferred then it gets approved and added into the blockchain.
    1. How is this different from how truth is determined in a central database?
    • In a central database there are limited amount of networks or private nodes who validate the data, thus its easier to be manipulated or cheated.
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#3828
  1. What does it mean when we say that in blockchain, consensus determie the truth?

This means that the truth depends on the validation of a network of computers verifying if a transaction is true based on the date within the blockchain. Consensus is like a validation by a community.

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

Truth is determined in a central database by one entity only. It does not require consensus from the network of computers, the whole community in itself. Truth can be determined by one single entity without any other contributers from the rest of the network.

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#3829
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    -It means that all nodes are in agreement with each other on a decision in the network.
  2. How is this different from how truth is determined in a central database?
    -In a central database, the decision is made only by a single individual. Hence, the decision can be biased.
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#3830

  1. The consensus on blockchain determines the truth through group verification from everyone on the chain. In other words, several different parties all come to an agreement for what is a verifiable transaction, and this is what creates the verification and trust-less environment.

  2. A central database verifies transaction internally, while the verifiable database/transactions on the blockchain are created through agreement from outside and independent parties.

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#3831
  1. it means that everybody agrees with eachother
  2. in a central database the truth is determined by the person how enteres the statement and cannot easily be verified
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#3832

  1. In the Blockchain the consensus is reached when many agree on what the ‘truth’ is. This consensus removes the ‘trust’ element and replaces it with verification - the transaction will be verified by different nodes and added to the Blockchain.

  2. In the Blockchain the ‘truth’ is verified by many, in a centralised database this is not determined by many, but rather by those who control it ie. Government and therefore what they interpret as ‘truth’ and what information they determine to be available is subjective .

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#3833
  1. the truth is based on the facts and the facts are verified by consensus
  2. a central database is subject to potential internal manipulation of facts
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#3834

  1. Consensus determines the truth in blockchain because a group of individuals need to agree on the transaction at hand to confirm that transaction being put on the ledger. If it does not match up with everyone it is not confirmed.

  2. Again a central database is open to manipulation by one or many individual parties with no way of confirming it to really be the truth. This allows for speculation rather than the trustless way of blockchain consensus.

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#3835
  1. all nodes/network have to agree that the transaction is true/legit.
  2. blockchain existence depends on all telling the truth as they are financially incentivized to tell the truth: accept the transaction or deny if wrong.
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