Thank you for the response @Baelberg. I believe that you completely understand the answer to the questions, but if there is something I can help you with, then let me know.
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In blockchain consensus is able to determine truth because nodes across the network independently confirm the validity of new information introduced to the blockchain against their ledger. They then unanimously determine whether said new information is true as a collective.
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In a central database truth is based on trust in the authority over that database and the security of that database. The information is susceptible to alteration and thus truth can be compromised.
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What does it mean when we say that in blockchain, consensus determine the truth?
It means that only when all the nodes or parties involved in any transaction are in agreement the data is added to the blockchain, which means that concensus remove the need of trust. -
How is this different from how truth is determined in a central database?
Any centralized database depends on the people who manage that database or system. In this case you don’t have a choice but to trust the people who owns them. In the case of blockchain you don’t have to trust anybody just because you can verified the information and additionally for any transaction to go through the blockchain first it has to reach concensus.
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The truth is decided by a collectively of people who receive economic incentive to tell the truth.
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The central authority decides the truth for your own benefit.
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- Consensus determines the truth because of economic incentives and truth is decided and agreed on collectively by the people.
- A central database is centralized so the truth of the database is in the hands of the owner of the database and he/she decides the truth.
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It means that no one is able to lie because multiple people are checking their work
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Because of incentives, the truth is told. In a centralized data base, people could lie where they are getting their product or info from and no one else would know they were lying.
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- What does it mean when we say that in blockchain, consensus determines the truth?
This means that every transaction in the network can be mathematically verifiable as true
- How is this different from how truth is determined in a central database?
The consensus is achieved in a blockchain by incentivizing everyone in the network financially, to be honest, while penalizing those financially who are dishonest. This mechanism is not inherent within systems with a centralized database, which could be incentivized financially to be dishonest.
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- What does it mean when we say that, in Blockchain, consensus determines the truth?
The network reaches a joint decision
on the information to be included, and
that which is to be excluded. It is then
double-checked, verified, and added to
the Blockchain. There are no nebulous
areas in which one must simply trust
the source as to the authenticity and
quality of a product or transaction. - How is this different from how truth is determined in a central database?
One must trust the source of the supply
chain as to authenticity and quality.
Human error and distortion of the truth
is possible at every step along the
chain, including the person who enters
the information in the database.
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That within the blockchain, the connected dots in the chain, mening servers, verify what is truth by removing trust and instead striving to reach consensus through verification - which is done by incentives.
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This is different in the way that truth is normally based on trust and trust based on feelings and judgement.
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- Consensus determines the truth via individual nodes acting within a network each checking/verifying the blockchain for accuracy, via incentivized financial gains.
- A central database is individually controlled and prone to miss-information and thus requires trust.
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It means that we are in a trust-less system where we can verify what is true and what is not. Through consensus, we can determine whether a company or a network of companies is telling the truth through their transaction records.
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In a central database, we are in more of a trust system in which we can not track transactions of a network of companies thoroughly. The truth is in the hands of the companies and top officials whereas in blockchain it is run through a consensus system.
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What does it mean when we say that in blockchain, consensus determines the truth?
Consensus determines the truth in blockchain by everyone (nodes) collectively verifying the data and in agreement via a decentralized network. The blockchain network is trustless. -
How is this different from how truth is determined in a central database?
On the other hand, the truth is determined in a central database by relying on trust. In a central database, the information can be easily manipulated by one or several authorities.
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Homework on Consensus - Questions
- What does it mean when we say that in blockchain, consensus determine the truth?
In Blockchain Consensus everything is verified by all the network before it’s allowed to be added to the ledger forever. Everyone has an equal incentive for everything to be correct.
2. How is this different from how truth is determined in a central database?
“Truth” in a central database can easily be subjective and be corrupted whenever there is incentive to be dishonest. People not part of the central database will never know about trust being broken.
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- What does it mean when we say that in blockchain, consensus determines the truth?
Since the network has a financial incentive to determine the truth, everyone will want to play by the rules to receive their financial incentive. The network will work collectively to add a correct transaction to the blockchain. If there is something incorrect about a transaction or something “fishy” then the majority of the network will reject this transaction as they do not want to lose the potential reward.
- How is this different from how truth is determined in a central database?
A central database doesn’t have the same network and is at the mercy of the central authority. It is possible for the “truth” to be manipulated in a central database since there isn’t the same collective agreement that is achieved by consensus in the blockchain. It relies in trusting the central authority instead of having trustless verification via the blockchain network.
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What does it mean when we say that in blockchain, consensus determine the truth?
A consensus mechanism agrees whether newly added transactions are legitimate and if gets added to the ledger. -
How is this different from how truth is determined in a central database?
A central database is centralised so ‘truth’ is determined by the entity that owns the data. This entity can manipulate ‘truth’ to suit it’s agenda.
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- What does it mean when we say that in blockchain, consensus determines the truth?
When independent nodes simultaneously verify the same transaction being added to the ledger, they are marking that transaction and that ledger as “true” by consensus, legitimizing it.
- How is this different from how truth is determined in a central database?
In centralized databases any entity that controls the database can overwrite it.
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- Every BC transaction needed to be verified by all of the computers in the entire network. A translation is truthful when it is verified by all.
- A central database can re hacked and rewrote. There is no easy way to verify any transaction.
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What does it mean when we say that in blockchain, consensus determines the truth?
Consensus is removing trust and it is achieved thru incentive. The desire of “Want to Make Money” is an enormously drive that powers the unity of people globally in consensus because everyone plays by the rules. All computers in the networks are intensified by the truth. Anything not a truth will be thrown out.
How is this different from how truth is determined in a central database?
In the central database, the group of people with power and authorization manipulate the truth. While in the blockchains truth is determine by consensus.
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1). In blockchain, consensus determines the truth because blockchain is decentralized with a network of computers and for a transaction to be true, all the computers in the network have to verify if the transaction is true and then agree to add it to the block. In other words truth is not just truth based on trust but it is truth because it has been verified by consensus among other computers in the network. This makes ‘Trustlessness ‘ possible.
2). Meanwhile in a centralized database, truth is truth because a central base said so and no other computer can verify it to be so. Hence people have to just trust that it is the truth without being able to actually VERIFY. Therefore “Trustlessness’ can’t be achieved.
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Consensus means that all the nodes within the blockchain must agree with each other that a certain thing that is claimed to have occurred, has actually occurred.
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It is different because a central database can always simply claim that something has been done, and there is no sure way to verify it (assuming the parties are in bed with each other). Meanwhile, consensus within the blockchain has the nodes communicating with each other at regular intervals to verify past and present claims.
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