Homework on Consensus - Questions

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

The computers who participating on the blockchain need to confirm a transaction. If they decide to dont confirm the transaction, its not the “truth”.

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

Informations in a central database dont get double-check from other participants. They dictate the “truth”.

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  1. Consensus determines the truth means that what everyone unanimously agrees on becomes the truth. It is very hard to corrupt because the truth is everywhere and you would have to have an overwhelming amount of falsehood to corrupt the truth.

  2. This is different than a central database because it we only need to corrupt one database to change the truth. However, if copies of the data is spread all over the world then it is very difficult to corrupt and it is easy to verify.

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  1. No one can change the transaction because when someone try to change, the other computer will say oh this transaction is not real and force it back to the way it was before.
    2.a central database depend on one person, so when that person change something no one can know that transaction was changed”.
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What does it mean when we say that in blockchain, consensus determine the truth?
Basically when all parties agree that the transaction is legitimate, it is then verified.
How is this different from how truth is determined in a central database?
Truth can be manipulated or changed in a central database. Only the owner of the database is the verifier.

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  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?

  3. Concord, assent, which is approval of the ledger and the blocks by the all or more than 50% of participants at the same time.

  4. In the central database conensus can have hierarchical character or the agreement can be given only by 1 “authorized” person/body. All the process can be very slow. It is possible to be open for coruption or manipulation.

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

The decentralized network determines what is the truth and what is not. There is no single authority on the blockchain that determines what is true or not. Incentive is also designed in such a way that it rewards different nodes in the network if they tell the truth. Only when all the nodes in the network agree on the truth then the transaction is added to the network.

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

Central database does not rely on the network consensus to add something to it. In central database there is one authority that can manipulate that database.

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On a blockchain network 100% must agree or the network might fork. :slight_smile:

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

The network needs to verify the processes, therefore if they dont agree the process doesnt get into the blockchain. So the consensus of the network makes the blockchain evolve.
2. How is this different from how truth is determined in a central database?
In a central database only one server determines the truth, and all other parts of the users have to trust what this server says, without any option to verify it.

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May i ask you what happens if a 10% of the network doesnt agree?
(i even dont know it that is possible)

  1. Consensus is more accurate and have an incitament towards the truth.
  2. The truth can be decided by a singel person/company.
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1-Consensus verifies truth because it verifies, with many computers where they all agree on the data entered into the blockchain where it can be trusted because it was verified.
2-This is different because truth is not verified on a central database, nor is it verified and it can be inputted incorrectly and can be changed or even lied about being true.
Demi

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  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means that the consensus mechanism makes sure that new added transactions are legitimate and are following the rules of the network.
    Consensus determines truth in blockchain because the only valid ledger on a blockchain is the one where the majority of nodes on the network share and broadcast the same information, therefore reaching consensus.

  2. How is this different from how truth is determined in a central database?
    the truth of the database is in the hands of the entity that owns the data. That entity itself or owner can manage, edit, delete, add, manipulate the data amongst other things.
    In a central database, truth is determined by those who control it. If there is only one party in control of a central database, they can change the inputs of a database to reflect whatever they consider true. Truth is most likely derived from a central source with the ability and incentive to alter it. In blockchain, truth is derived from numerous distributed sources that, for the most part, cannot be altered and have little incentive to do so.

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It depends on what but they would most certainly fork into their own blockchain. :slight_smile:

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

Consensus removes the trust factor as a requirement for a transaction to be executed and through monetary incentives, it ensures that everybody is honest during their part of work, as everybody loves to make money.

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

In a central database, the truth can be easily altered or manipulated as there the decisions are being made by a single individual and not a network of computers communicating with each other.

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  1. We can track the provenance as it is on blockchain and everyone knows that.
  2. We don’t need to trust, we verify.
  1. What does it mean when we say that in blockchain, consensus determines the truth? consensus is a form of validation because each node in the network must agree on each transaction to validate it before it becomes part of the ledger.

  2. in a centralized database there is not incentive for an entity to be completely transparent and honest. in fact some may argue that they can benefit more by being dishonest and manipulating the data (transactions) that best benefit the central entity that controls the database.

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  1. Consensus gives us provenance. All decisions are double-checked and no one person or party can make a decision without consensus.

  2. The truth in a central database is determined by trust. Both parties in a transaction need to trust the central database.

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  1. Consensus on blockchain requires verification from the network. Creating a system of confirmation and consensus along a supply chain.

  2. On a central database, a statement can be made “true” as a rule determined by an individual / single entity, without shared consensus. “Trust” is removed from the process with “trustless” decisions made by consensus.

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

  • it`s determined by many other networks, rather than individuals, hence why the truth is actually verified

How is this different from how truth is determined in a central database?
-by individual, which does not confirm the accuracy, yet it can become the false truth, since no absolute method of determining it`s consistency.

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  1. What does it mean when we say consensus determines the truth ?
    The truth is determined by a network of computers that have historical data of previous transactions on the blockchain, and they need to agree if the transaction matches previous data, financial incentives are in place to ensure everyone is being honest.
  2. How is this different from how the truth is determined in a central database ?
    In a centralised database it comes from one computer, which is not creating a consensus between different parties all agreeing on a specific thing.
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