Homework on Consensus - Questions

Blockchain and Bitcoin 101
#3836

What does it mean when we say that in blockchain, consensus determie the truth?
When we have consensus, we have multiple verifications from different sources that the truth is being told. There are incentives to keep the truth the highest priority.

How is it different from how truth is determined in a central database?
In a centralized database, you must trust that the truth is being told, without having a network of others backing up and proving that the truth is being told.

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#3837
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Consensus is removing trust because there is no one centralized authority that determines the authenticity of a transaction or application. The verification is determined by the consensus or group.

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

A central database, can determine by itself to verify or not. This is not authentic in that it gives the power to one authority instead of the group.

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#3838
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    It means the transaction or change in a ledger needs to be confirmed by the whole network.
    2.How is this different from how truth is determined in a central database?
    The transaction or a change in a central database can only be confirmed by someone who has access to it. Which makes it easy to change and manipulate.
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#3839

What does it mean when we say that in blockchain, consensus determines the truth?
Being consensus an agreement between all the ledgers, it can be verified, validated and written by all ledgers in the blockchain, making it true.

How is this different from how truth is determined in a central database?
A central database can be manipulated by editing the information within, if we have clearance. Therefore the truth in a central database is only what we can see at a certain point in time, not what we can verify, since provenance can be corrupted.

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#3840

Homework on Consensus - Alec’s Answers

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus determines truth means that all the participating parties or nodes verify the authenticity of a block or chain by confirming their own ledger through provenance. If all the nodes agree with the new blocks data then consensus has been reached and the transaction is true.

  2. How is this different from how truth is determined in a central database?
    In a central database there is a central authority that audits and verified transactions and they determine what is true or false. They may involve their-parties to assist in the audit, but ultimately the truth is declare or determined by the central authority. This system is prone to mistakes. i.e. - Bank error in your favor

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#3841

  1. Consensus determines the truth in blockchain because it is not only one party that comes to a final say. A group of parties have to come together to make a final decision and that is when a transaction can then be added to the database.

  2. It is different because when it is compared to the traditional central database, normally one party is involved in having a final say. This can end up not being correct because they are not crosschecked by other parties to verify if that is really the truth or if the right information is altered

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#3842

  1. All the computers in the network need to have the same answer to the question “is this true” and that answer has to be “yes” for a transaction (or data) to be written in the new block.

  2. Truth determined by central database depends on trust in database. Blockchain enables trustlessness. Don’t trust. Verify.

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#3843
  1. Because it derivates in all the miners consensus not just a few of them, and honesty is rewarded therefore if someone tries to cheat loses money.
  2. Because in a central one all the trust depends on the authority that created or manipulate it.
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#3844

1.Consensus is big part of trustless,all records are on blockchain.``

2.Consensus is removing trust and is achieved through incentive.

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#3845

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

If consensus is reached then the transaction or operation is valid. Consensus makes it true. Without consensus, it can’t happen.

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

If the form or query is correct, and the transaction completes, then it’s real. The only consensus is the app itself, and any business rules that are applied along the way.

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#3846

  1. consensus determines the truth in that there is no central authority to adjuducate disputes–the consensus is financially incentivized

  2. normally parties in a dispute trust the central authority

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#3847

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means that the network of nodes agreed to the truth. Consensus removes the trust of any one entity for the agreement (consensus) of the group.

  2. How is this different from how truth is determined in a central database?
    A central DB by it’s nature in most cases would be an authoritative source and therefore be relied on as truth, but databases are also garbage in garbage out. There is no way to remove trust from the database administrators.

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#3848
  1. When we say that consensus determines the truth, it means that it is not left to one individual, but the nodes of the decentralized network must agree whether something is true or not. There is no trust, only verification.
  2. This is different from how truth is determined in a central database because the information is compared to what is in the database and the database could have been manipulated. When we use a central database we have to trust that the information is true.
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#3849

1.We say that because blockchain is a network of computers, and each of them has a copy of a blockchain, so they all know the same truth, so when for example there comes some kind of transaction to the blockchain the whole network has to agree that it is legit or otherwise to reach a consensus between all the network computers that this is true and then it is confirmed.

  1. Well is different because the truth it is determined by a network that talks to each other and determines the truth. So you can cheat if the action did not happen. Let’s say if I buy amazing ingredients to make the best glass windows, the whole network in the supply chain are able to confirm it. Cause all the transactional steps to achieve it are stored in the blockchain so it is possible to verify that that is true, so bitcoin will verify that transaction happened to get high-quality goods to make a high-quality product, and there will be another system will be able to show what exact ingredients were used for a certain product. For me, Consesnus sound as a different form of provenance/auditing they are not the same but it is like an internal automatic system that agrees on veryfing truth depending on the networks data.
    Where central database there is usually a collective of authority that decides what is the truth, depending on the data they have, seen or checked but they have missed some key factors or maybe some of the data might not be true and the decision of approving where there something is true or not might be based on false information.
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#3850
  1. In blockchain, consensus determines the truth by ensuring that a network of incentives nodes needs to agree that a transaction is valid (‘truthful’) before it’s accepted onto the blockchain
  2. In a central database, the code determines what is valid (‘truthful’) and code is open to hacking and dishonesty
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#3851
  1. Blockchain determines the truth as all participants need to come to an agreement of the validity of the statement/transaction in question
  2. thrustless process with no superior/central authority of any kind and all participants are incentivised to validate or accept only the true statements or transactions of other parties
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#3852

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means that consensus (agreement) is a prerequisite before transaction on a blockchain can be accepted as valid.

  2. How is this different from how truth is determined in a central database?
    Consensus on a blockchain is decentralized, i.e there must be a number of credible participants that may accept or reject transaction and decision made is irreversible. With a central database anyone with access rights can manipulate data even after a transaction has been committed into a database.

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#3853
  1. Consensus means that the participants in the blockchain network decide collectively if a transaction is valid (through verification not trust) and if it can be registered on the blockchain
#3854
  1. Truth is a central database is based on trust in a central authority, that leaves room for errors and manipulation of the transactions database
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#3855

Homework on Consensus

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus determines the truth means that it is not left to one individual or a third party to confirm whether something (in this case a transaction) occurred based on trust. Instead the nodes of the decentralized network must agree whether something is true or not. Trust is not needed, only verification by the process of consensus.

  2. How is this different from how truth is determined in a central database?
    Blockchain is decentralised and transparent and the truth relies on consensus of credible nodes whether a transaction occurred. With a central database anyone with access rights can manipulate data after a transaction has occurred and therefore an element of trust is with the owner of the database.

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