Homework on Consensus - Questions

Blockchain and Bitcoin 101
#4218

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    When a transaction comes through, all the nodes need to make sense of the transaction to determine if it’s true before it’s accepted and confirmed into the network.

  2. How is this different from how truth is determined in a central database?
    All the decision to being made together, all the copies of the databases located on the nodes must come to a consensus whereas in a central database, a single individual copy of the database can be altered thus you must input all your trust into this single entity. The “Trust-less” blockchain network prevents the need to put your full trust into any single entity or individual.

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#4219

  1. What does it mean when we say that in blockchain, consensus determine the truth? Entire network has a copy of live network, new transactions / entrys are accessed by the network and must make sense before being varified and excepted by the network. Honest varification is driven by financial incentive.

  2. How is this different from how truth is determined in a central database? Standard databses are centralised and controlled by the entity using the databse allowing room for false entries, error and editing.

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#4220
  1. What does it mean when we say that in blockchain, consensus determines the truth?
  • Consensus meant that in order for data to be considered as authentic, the majority if not all of the network of distributed ledger has to review, verify and agree that the data added is logical and will ignore illogical data/information.
  1. How is this different from how truth is determined in a central database?
    -In a central database, the control of information is determined by solely that database and any issue such as editing/removing/adding of data/information can be manipulated from within the central database itself as there is no network that enables a mechanism where consensus can occur as the data is centralized. Hence we are not able to verify the truth from a centralized database
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#4221

  • What does it mean when we say that in blockchain, consensus determine the truth?
    Because it is a distributed network, the nodes must vote on what they believe is the truth. The consensus gets included in the blockchain and becomes the shared reality

  • How is this different from how truth is determined in a central database?
    In a central database, a user or administrator can arbitrarily accept or reject changes without consulting anyone else.

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#4222

  1. “Consensus determines the truth” means that we have a trustless way of multiple nodes all agreeing on the validity of a transaction. Once all nodes agree, then the transaction can be added to the blockchain ledger and never changed.

  2. In a central database there is only one authority that can verify transactions and therefore relies on trust in this authority. Because this authority is not held accountable by other authorities, the truth of a transaction can never be 100% clear because it can be altered or corrupted at any time by the central authority.

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#4223

  1. The statement, consensus determines the truth, in blockchain, means that the information stored on the blockchain ledger by the community using the ledger is accessed and verified by the same community of users. Any information that does not concur with the majority of users can be considered relatively false and can be subsequently rejected from the ledger.

  2. Within a central database what is true is determined by the owner of the database, which is usually not the community of users, but a provider of services.

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#4224
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    A. Members of the network constantly check to ensure that they are in agreement with other members with regards to transactions. In order to achieve consensus each member must be in agreement with its peers. There can only be one correct database so members constantly work together to agree what is true and what is false via incentives.
  2. How is this different from how truth is determined in a central database?
    A. Database administrator can alter data and no one can check what they have done. To check the database for errors an auditor must assume that the administrator is honest.
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#4225

1. What does it mean when we say that in blockchain, consensus determines the truth?
In blockchain consensus is the method of verification where by all the computer nodes come to a consensus that a transaction can be added to the blockchain. We do not put our trust into one such entity to verify a transaction, in any case it may be incorrect or an untrustworthy verification. A consensus is reached by various anonymous computer that agree on the validity of a transaction and then add it onto the blockchain.

2. How is this different from how truth is determined in a central database?
In a central database a transaction is verified by a single agency/authority that is not checked upon by anyone else. They have the sole decision whether to add information into the database without a common consensus being reached. Whether or not a company upholds the trust we put into them is second to the fact that at any point information or transaction can be added into the database without any checks or balances. This ultimately means that proof of information/transaction is only determined by a single agency that is subject to altering or changing information to benefit a single agency essentially removing the truth from the equation.

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#4226

1 What does it mean when we say that in blockchain, consensus determine the truth?
Consensus is how the ledgers in the network all agree on a particular transaction. They obtain consensus via financial incentives so all the ledgers are incentivized to say the truth.
2 How is this different from how truth is determined in a central database?
All ledgers of to agree and the provenance cannot be modified as it is part of the blockchain.

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#4227

  1. Consensus is meaning the agrement to tell the truth between the computers.

  2. The big boss in charge can decide to add or delete some of the truth to make it look better than it actually is.

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#4228
  1. In blockchain the truth is determined when all nodes of the network (or the majority) agree that a transaction is valid and it is then added to the blockchain. It is the verification and agreement by the nodes that gives consensus.
  2. On a central database there is only one version of the database and therefore only one data set that isnt verified by anything else. This is more a singular entity truth than an agreed community truth.
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#4229
  1. Consensus means everyone as a collective agrees on the truth, and therefore determines the truth.
  2. This is different to a central database as it has a central controlling authority which determines the truth as opposed to consensus based.
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#4230
  1. The incentive structure, causes the collective to reach a determination on true transactions
  2. Central databases are controlled by particular entities who can determine for themselves truth. There is no mechanism to appropriately publicly verify truth on these systems
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#4231

  1. What does it mean when we say that in blockchain, consensus determines the truth?Incentivize to do the right thing “truth” “honesty”
    Every node on the network is incentivized financially to make a truthful entry to the database. Several parties need to be involved and decisions are made together thus reaching a consensus and validating the entry.

  2. How is this different from how truth is determined in a central database? A centralised database is not incentivised by a network. It is not reliant on any other nodes and one entity can corrupt and change the state of the database at any point in time.

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#4232

1- In order for a transaction or data exchange to be verified on the network, all parties involved in the process need to agree (come to consensus) and verify the accuracy of the action.

2- In central database the information is not completely distributed to all parties that are involved in the verifying process.

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#4233
  1. What does it mean when we say that in blockchain, consensus determines the truth?
  • The consensus is built on top of incentives. Consensus depends on the fact that everyone is incentivized to play by the rules. In blockchain all of the different computers in the network are all incentives, to tell the truth.
  1. How is this different from how truth is determined in a central database?
  • In centralized databases, once a connection has been established, there is no need to individually verify every request that comes over it. While it’s true that centralized databases must also contend with conflicting and aborted transactions, these are far less likely where transactions are queued and processed in a single location.
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#4234
  1. What does it mean when we say that in blockchain, consensus determines the truth?

It means that every single transaction has been verified by many computers that are incentive to tell the truth. The network confirm or do not confirm transactions.

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

The différence is the network consensus and the incentive.

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#4235
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    A transaction need to be verified by many nodes, they need to agree (come to a consensus) and verify the transaction.
  2. How is this different from how truth is determined in a central database?
    The owner of the database can decide whether something is true or false - trust is necessary, possibilities to cheat!
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#4236
  1. What does it mean when we say that in blockchain, consensus determine the truth?
  2. How is this different from how truth is determined in a central database?

1, you cant lie, consessus know everything about the network.
2, the database cannot be modified or manipulated it works only with the truth.

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#4237
  1. What does it mean when we say that in blockchain, consensus determines the truth?
  • Consensus means multiple parties (nodes) in the blockchain verify any new information/transaction that is entering the blockchain. They collectively decide whether this is true/legitimate.
  1. How is this different from how truth is determined in a central database?
  • In a central database truth is determined by a central authority based on rules that are provided. There aren’t multiple independent incentivized nodes/parties verifying the truthfulness of each new piece of information entering the system.
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