Homework on Consensus - Questions

Blockchain and Bitcoin 101
#4399

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

    Because blockchain is a decentralized network, we know that a decision is only made when all parties agree upon it. This allows for a trustless system, where all the decisions are being made together, double-checked and created by consensus.

    To reach a consensus, the blockchain platform is built on incentives, where the parties are rewarded for being honest and impaired for being dishonest.

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

    In a central database the truth is determined by the party that owns it. This allows for manipulation of information and results, which incentivizes opaqueness in the decision making process
    and doesn’t have the truth as it’s main goal.

2 Likes
#4400
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Consensus in blockchain determine the truth because consensus is the agree or disagree of majority verifier in the blockchain who are centivised to tell the truth.

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

The truth in a central database is determined by owner of the database which is one party, not like in the blockchain the truth must be verified and agreed by the majority.

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#4401

  1. Consensus determine the truth in blockchain means that all parties (nodes) accepted the transaction(s) in decentralized manner.

  2. The truth that is determined in blockchain (by consensus) is incentivized by doing the right (correct) thing(s), unlike in a central database.

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#4402
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    In blockchain all parties need to approve and verify transactions before they’re added to the blockchain.
  2. How is this different from how truth is determined in a central database?
    In central databases you need to trust the owner of the database to be truthful.
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#4403

1.Blockchain is a database/network of computers/ledgers. to confirm whether a transaction is true or false, all must come to an agreement.
2.In a Central database 1 determines whether something is true or false.

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#4404

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Unlike in most other areas there is a definitive Truth that is not subjective.
    If everyone agrees / gives consensus we know whats true.

  2. How is this different from how truth is determined in a central database?
    In a central Database there is no consensus possible.
    If there is one Database and the Data is changed, truth is changed aswell.

1 Like
#4405
  1. The network of computers communicate to each other, and all parties agree and verifies, basing it on a trust-less system that relies on math and protocol. They receive financial incentives to be truthful.
  2. It is different because the truth, in a centralized database, is determined by its authorities, making it impartial and corruptible. Provenance it’s harder to achieve.
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#4406

Homework on Consensus
1- The decision is made by multiple parties which the majority need to approve the transaction to be verified and all work through incentive which is they don’t need to lie or hide anything.
2- In central DB its own by a specific party which they have full control over the DB and they can modify or delete a record based on their interest, and auditing can be really hard.

2 Likes
#4407

1- it means that the network is trust less and it’s not relying on trust but it relies on the technology all block chain nodes to verify all the truth and so forth confirm it.
2- Central database can be modified and manipulated.

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#4408
  1. Consensus is only reached when every node on the network agrees with the transaction. It determines the outcome of the transaction being added to the blockchain or not.
  2. A central database doesn’t need to reach consensus with the network it’s working with.
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#4409

  1. When we say that in blockchain consensus determines the truth; it is referring to that the nature of honesty or integrity of such transactions/activities is guaranteed and achieved through the use of blockchain’s approval process which involve validations carried out, agreement reached and decision made by a network of people.

  2. The concept of blockchain is opposite to a central database. When truth is determined by blockchain by a network of people rather than by a central database built and owned by a particular party or authority who naturally would make decisions for their own interests; power is handed down to people and a new world is formed.

2 Likes
#4410

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

it means that there are specific mechanism/rules Consensus algorithm and that every node in the network agrees to. it determines what is true and false. also weather to approve the transaction or not.

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

In a traditional database an owner can independently corrupt the data therefor any truth can be manipulated / changed at any point in time.

In a centralised database the truth is determines by those who control it. They can basisly change anything. Within a bockchain, the truth is determined by verifying numbers and facts rather than having someone in control of it.

1 Like
#4411

  1. Consensus determines the truth in the network through more validators. If all the associated computers validate that the transaction is correct then in written on the blockchain , if the transaction is corrupt the network decides that it must be discharged.

  2. In the central database the truth is determined by a single validator. If the validator decides to alter the truth then the information will be corrupted.

1 Like
#4412
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Consensus means that your statement will be approved. In other words every transaction will be approved if it is possible or not.
    If there is a consens, which means 100% agreement then this is what we are talking about.
  2. How is this different from how truth is determined in a central database?
    A central database can be manipulated but there is also a big disadvantage. In Blockchain you do not have ONE central database on ONE server.
    The information is stored in the blockchain and everybody has a copy of it
1 Like
#4413

  1. Consensus determines truth within a blockchain because many parties are all simultaneously verifying transactions within the block before approving it. Persons Verifying(Miners) are incentivized(generally with coin) to be honest/factual. The large number of parties verifying each transaction brings the them to a consensus that the transaction is indeed truth/fact.

  2. Blockchain verification is quite different from the determination of truth in a central database because within that central database it could only take one party to verify a chunk of information as truth. Later on, another party(admin/moderator) could go back in and change that information to something else or delete it entirely.

1 Like
#4414

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    When all nodes are saying the same thing, we know we have the truth. If there were 10 nodes and 1 continually gives the wrong answer then we can assume that node is faulty/not-trustworthy because everyone else agrees. Nodes are incentivised to tell the truth with a carrot – a coin/payment, or a stick (tbd)

  2. How is this different from how truth is determined in a central database?
    There is only one central location that has the answer and they determine the ‘truth’. There is no way for others to verify whether that information is the truth or if it has been altered. Databases can be altered after the fact so information that is true today may not have been true yesterday and may not be true today.

1 Like
#4415

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All the nodes in the blockchain need to come to a consensus on if they are going to allow the transaction into the network database. They all need to decide if the transaction makes sense or not.

  2. How is this different from how truth is determined in a central database?
    In a central database, one authority determines what’s true or not.

2 Likes
#4416
  1. In blockchain, use of consensus determines the truth because the network is unable to tell a lie. 2. All computers connected to the ledger must approve any transaction made on blockchain and in central database “the truth” is what they tell you.
1 Like
#4417
  1. Every node in the network verifies that new data is correct and they are all incentivized to do that accurately.
  2. Usually one node would process the information and add it to the database leaving a single point of failure or corruption, even if there are multiple fail over nodes, only one will likely process it in a centralized system.
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#4418

  1. Consensus is when the network authorizes transactions based on truth. If the network agrees, transactions are added to the blockchain ledger, otherwise it is discarded.

  2. In a central database, only central authority determines what is true. If there’s any corruption, then there is no truth.

1 Like