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Mutual agreement of the whole network within blockchain through provenance.
(Verification of complete network)
Consensus is removing trust and is achieved through incentives. -
A central database can always be altered and not be trusted.
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- This means that all computers on the network would need to agree the transaction or information was correct/true. This enables it to be a trustless transaction.
- Because it is decentralised and trustless, the information is agreed by concensus. On a centralised database, one authority can intervene and it can be amended without others knowing or seeing.
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- It means that consensus is reached when a group of nodes are validating a transaction and once the nodes agree, it is posted into the ledger. If someone wants to insert something untrue into the blockchain, all the nodes will be rejecting the information.
- In a central database the truth is determined by an authority/auditor in which we have to put our trust. What we can achieve through blockchain is trustless, where anyone can verify if the information is correct at any time.
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In the blockchain the network confirms validation through all associated in the network.
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Centralized databases are controlled by those in control of the database and can be manipulated by those with access without verification from outside sources.
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- What does it mean when we say that in blockchain, consensus determine the truth?
All nodes have a copy of the blockchain. The blockchain decides / affirm the transaction. If its agrees the transaction wil be added to the public ledger, otherwise it will be discard.
- How is this different from how truth is determined in a central database?
In a central database there are no copies only one version which might be changed or parts removed.
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Consensus means that the majority needs to agree on what is being added to then update the ledger. It also means that any computer that is showing up something the rest disagree with, they make less money.
In a central database, there is only one place that determines the truth.
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What does it mean when we say that in blockchain, consensus determine the truth?
Consensus requires many decision makers who are incentivized for honesty. Those decision makers can identify, kick out and prevent fraudulent transactions from hitting the ledger. -
How is this different from how truth is determined in a central database?
A central database could lose data (hiding the truth). A central database could allow corrupt data, even if by accident, which may not be truthful.
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- What does it mean when we say that in blockchain, consensus determine the truth?
It means network of computers agreed/verified that transaction on the blockchain to be true. Network of computers reached consensus.
- How is this different from how truth is determined in a central database?
Consensus is built on incentives. Network is incentivised (money) to tell the truth.
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- What does it mean when we say that in blockchain, consensus determine the truth? - Every transaction is time-stamped, log and add onto the blockchain. Nodes that are on the global network have a copy of the real-time database and will verify if indeed the details are to be true or false. A global network consensus mitigate information âcheatsâ or the temptation to manipulate.
- How is this different from how truth is determined in a central database? - Consensus is incentivized to play by the same rule and driven by monetary incentives to be truth teller.
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- Within a blockchain, consensus determines truth through the decentralization of the decision making process. Consensus means that everyone within the network must come to the same agreement regarding the question of validation of a given transaction. This is easily achievable as all transactions are public, and all parts of the network have access to those transactions and can verify for themselves if the transaction is true of not. Hence if the network is not convinced of the validity/truth of a transaction, the transaction is not accepted.
- In comparison, a centralized database determines truth through one central authority. That central authority has the power alone to validate the transaction, and is hence by definition the single point of failure. Centralization is therefore antithetical to consensus.
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Consensus has to be reached by the nodes of a blockchain to determine what is the truth that will be written to the blockchain.
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A central database is dependent on a people that need to tell the truth to a single party in order to keep track of the truth on the central database.
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- What does it mean when we say that in blockchain, consensus determine the truth?
when all nodes in the network come to an agreement validating that said information is correct
- How is this different from how truth is determined in a central database?
Central database can be manipulated by the designated power.
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It means that the network, by mathematically proving and verifying that a transaction is correct, is in agreement and thereby has reached consensus. Consensus is reached by incentivising others to participate in the verification. e.g. Proof-of-Work, is a form of consensus.
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In a central database, the truth has to be determined by third parties outside of the database. Someone else needs to be Trusted, to determine the truth.
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Homework on Consensus - Questions
- What does it mean when we say that in blockchain, consensus determine the truth?
The network of computers that are confirming transactions all have to agree that the transaction was made. Once everyone agrees that the transaction is accurate then it is put on the blockchain.
- How is this different from how truth is determined in a central database?
A central database has the ability to add or remove whatever they want to, they can create whatever âtruthâ they want you to believe.
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- consensus removes trust using verification through the ledger. Consensus in blockchain is incentivized
- A Central database relies on fragmented data that isnât mathematically verifiable.
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1.) What does it mean when we say that in blockchain, consensus determines the truth?
Blockchains operates decentralized and self-regulated without any single authority. Consensus is reliable mechanism to ensure that all the transactions occurring on the network are genuine and all participants agree.
2.) How is this different from how truth is determined in a central database?
There is no truth in central databases. Database consistency and data integrity are the key facts. These can be changed as far as access rights exists.
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A transaction gets added to the blockchain once nodes from different databases have reached consensus and determined that the transaction is valid. No incorrect transaction will ever get added.
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A central authority or an individual can edit, update or remove a transaction. This means that it is impossible to have a trustless system in a central database due to the non-existing accuracy and validity in its supply network.
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