Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?Consensus is an algorithm that needs to be satisfied in order to produce a new block with new transactions. It means that everyone in a blockchain have to come to an agreement and this agreement is actually consensus

  2. How is this different from how truth is determined in a central database?
    The truth is determined by the centralized authoritiy which has the user rights to edit it, meaning that anyone with specific credentials can manipulate with the data.

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  1. It means that multiple ledgers are communicating with each other to determine the truth of the piece of information being accepted. They are incentivized to determine the truth through financial gain.
  2. This differs from a central database because the central database does not need to bring in other parties to determine truth; it does this by itself and it is not rewarded for determining the truth. We must trust the central database, where the blockchain verifies/proves the truth.
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  1. What does it mean when we say that in blockchain, consensus determines the truth? The group members are incentivized to support a decision in the best interest of the whole based on verifiable information.
  2. How is this different from how truth is determined in a central database? There is no consensus in a central database the owner of the database can change information at any time.
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  1. Every transaction must be verified by the other computers on the network (Nodes). So if you fake a result the other computers will notice and alert this.

  2. In a central database there are no network to verify that the result proves what it really is.

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  1. Consensus is achived by multiple independent parties involved in verification process. Those parties are incentivized to provide clean-true inputs
  2. In centralized databases “consensus” is determined by a group of “dependent” (to an extent) insiders, who’s inputs may be corrupted or influenced in any way
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  1. Consensus is the mechanism in which many different decentralized actors on the blockchain network confirm that the provided information within the transaction is accurate / true.

  2. These different validators on the blockchain are incentivized to act honestly. These validators also have no personal interest or ties to a certain outcome unlike centralized actors, who can determine their own “Truth”.

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  1. Consensus is agreed upon by multiple individual decentralized parties. This allows consensus on what the actual truth is by majority.

  2. In a centralized database the truth is only verified by the owner of the database. There is no consensus by multiple parties.

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  1. A whole network of separate (decentralized) parties have copies of the blockchain database. The truth is what all these copies agree upon after verification. Non-matching or incorrect inputs cannot enter the database.

  2. Regular databases will have varying degrees of centralization and are dependent on the controlled input or changes. Limited or no consensus is necessary to enter/change the data as may suit the needs of the ones controlling the database.

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Consensus.

Benefits of Using Blockchain.

  1. What does it mean when we say that in blockchain, consensus determines the truth?
  2. How is this different from how truth is determined in a central database?

1a. It creates honesty by removing the need to trust the peer/contract. The Consensus allows for ultimate Provenance by tracking/tracing everying from the shirt on your back to all the suppliers throughout the proces of the supply chains to Verify that everything is correctly in place according to the codes outlined in the smart contracts .

2a. Its drastically different then how Normal Databases operate. Normal databases are third( fourth or fifth) party involved & not to many parties involved operate fairly or even humainly. Normal databases allows much for alterations & manipulations. It is SO hard to verify eveyone who involved with the supply chains and their efforts, without trust. Another rare characteristic. unfortunatly… with the exception of the Ivanontech academy, forum and other circumstances. Thank you.

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1, Every new entry/transaction on the network must be verified by all nodes within the network preventing dishonesty
2, With one node or centralized location, data can be manipulated at will

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1.It determines the truth because it requires all nodes to agree and accept transactions that comes.
2.In central database databcan be manipulated and changed and also all information ir verified by individuals.

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It’s kind of like democracy vs dictatorship :upside_down_face:

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Define consensus on a proposition as a proposition that every node in a network agrees with.

1.) Provided you trust the blockchain network in question, then you believe that whatever the network has consensus on being true is true. It is in this sense that consensus on a blockchain that you trust determines your truth.

2.) The truth as determined by a central database automatically has consensus, as there is only one party determining what the database says to be true. This is different to consensus on a blockchain as blockchains find consensus much more difficult to reach - it is not automatic.

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  1. There are multiple decision makers which are incentivized to find truth.
  2. In a central database, truth would be determined by a central authority, by the top, although in blockchain it is determined by cousensus, ehere the different nodes of the network need to agree whether a transaction is valid or not
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  1. When there is a consensus on the blockchain that means that all parties that are in the network confirm that the information is the same.
  2. In a central data base information is verified by against it’s own information. If this data is corrupted or changed then verification becomes difficult.
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1 - Every node in the network has to agree that something happened for it to be valid, and this is done by checking the immutable ledger. If all nodes in the network check their chain and this new entry passes the test, it is added to the chain, and inherently true.

2- Normal databases are commonly managed by one party, which has full control over the entire database. The truth is determined by checking the database but the issue is that the database can be changed very easily.

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1. What does it mean when we say that in blockchain, consensus determines the truth?
The truth is determined only after there is an agreement between all the nodes located in each computer that participate in the shared ledger/database/blockchain.
It is an agreement made by all, made together, without a central authority making the decisions. And this is possible because each computer contains a copy of all the transactions that happen in the blockchain. It is incorruptible. :wink:

2. How is this different from how truth is determined in a central database?
In a central database, one central party/authority decides what is true. The decision is not made by all parties. It is based on trust and not verifiable by all parties. It can be corrupted. :frowning_face:

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  1. Consensus is the mechanism by which miners are INCENTIVIZED to validate proposed transactions on the blockchain by use of their own distributed ledger.

  2. In a central database the truth is determined by the owner of the database as they have ability to change the records without any other parties permission

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consensus eliminates the need of trust and determines the truth on the blockchain.

a central database has a central point of failure compared to a decentralized network (Blockchain).
Truth is only evaluated from a single entity

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  1. Blockchain consensus determine the truth means that for a transaction to happen all parties of the network need to agree on the validation of such transaction

  2. Central database can undergo inputs of other parties preferences where data can be edited or erased. There is no incentives being given in order to keep the data opaque and truthful, therefore it can be easily manipulated to fit ones needs.

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