Homework on Consensus - Questions

Blockchain and Bitcoin 101
#4480

  1. On the blockchain, truth is the result of decentralized nodes validating and accepting change. It is the consensus of the decentralized nodes that determines the truth of a transaction.

  2. In a centralized DB, a middle man or authority determines truth and it requires trust. It is mutable and trust based and not based on decentralized consensus

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#4481

  1. Beacuse everyone has incentive to validate true correct information.

  2. In a central database you do not have “peers” or anyone validating your transactions therefore you can include whatever information you want and the recipient of this information has to trust you.

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#4482

Q1. What does it mean when we say that in blockchain, consensus determine the truth?
A1. On a blockchain based consenus must agree more nodes for the distribution of the Information, it is a double check for the information on the datablock, every node has a copy of that block and the notes need to find a agreement to transfer the infomartion. Public blockchains that operate as decentralized, self-regulating systems work on a global scale without any single authority who can fake the information.

Q2. How is this different from how truth is determined in a central database?
A2. On a central database a single authority decide what is the true, by sending information you need to trust the authority if the information is correct.

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#4483

1. What does it mean when we say that in blockchain, consensus determines the truth?
Consensus determines the truth by many many (most) nodes are verifying the validity of the statement.

2. How is this different from how truth is determined in a central database?
In the central database, truth is determined by a single party and as such, it can’t be universally trusted.
To rely on validation we need the consensus of multiple verifiers, that way we can achieve a trustlessness system. And blockchain with its distributed database allows us to rely on the consensus of multiple verifiers.

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#4484

Homework on Consensus - Questions

1.)What does it mean when we say that in blockchain, consensus determine the truth?
All the computers of the network must achieve an agreement on the data introduced in the network is correct and are following the rules of the network. The computers that reach consensus first will be rewarded during the a process called mining.

How is this different from how truth is determined in a central database? In a central database a single authority has the ability to change or modify any transaction if it’s intentionally or by error with no one verifying if it is true or not.

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#4485

  1. Consensus is formed with the majority of the opinions of the nodes.

  2. Consensus is not necessary for a database because it consists of only one central unit.

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#4486
  1. Nodes are incentivised to put into blockchain only the data which is true. Anyone can verify if anything was faked.
  2. Truth on central databases is based on trustfulness.
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#4487

What does it mean when we say that in blockchain, consensus determine the truth?
All decisions are agreed by the blockchain network nodes and accepted or not into the ledger.

How is this different from how truth is determined in a central database?
A central database can be changed or removed by individuals or groups, you are trusting them to keep it secure and 100% correct.

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#4488
  1. What does it mean when we say that in blockchain, consensus determines the truth?

It means that most of the validators are registering the same thing… which is the truth.

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

In a central database there is only one entity that validates the “truth”.

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#4489

1.) The truth is what most of the computers in the network agrees on.
2.) In a central database, truth is based on trust and not verification.

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#4490
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Consensus determines the truth because all parties are incentivized to be honest. This prevents fraudulent transactions from being added to the blockchain.

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

In a centralized database, the truth would come from the top-down from a higher authority. In contrast, the blockchain network validates the truth via consensus. The different nodes on the network have to agree whether or not the transaction is legitimate.

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#4491

  • What does it mean when we say that in blockchain, consensus determine the truth?
    All or mulitple nodes have to confirm that a transaction is valid.

  • How is this different from how truth is determined in a central database?
    No single authority can alter the facts about a transaction. Since all nodes have to confirm, there is less chance for corruption.

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#4492

  1. When you say consensus determines the truth in a blockchain, you mean that because there are multiple parties involved in making the decisions, it is up to them to all come to an agreement as one which requires teamwork. So when they make the decision to accept a transaction, it is double checked and confirmed together as one.

  2. This is different from how truth is determined in a central database because since in a central database it involves groups of individuals it is hard to verify and determine the transactions from different sides, which may not all be truthful. The truth can be manipulated.

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#4493

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Ans #1: Within the Blockchain ecosystem, verification is confirmed through collective CPU acceptance of the transaction. This collective / decentralized review and affirmation / acceptance of the transaction is a “Consensus” that validates the details of the transaction and is therefore “Truth” throughout the ecosystem.

  2. How is this different from how truth is determined in a central database?
    Ans. #2: A centralized database is less efficient as it takes longer to verify, has multiple data collection and input point sources. Data from the field or office are subject to input errors, manipulation and can be deleted or edited in either direction. Further, information can be lost in blackouts, surges, fires and malfunctions of every variety.

RJR

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#4494

  1. It means that we have a peer-to-peer agreement upon transaction results and it cannot be altered or “lied to” by any singular entity. All who “agree” have copies of and verify the latest blocks as true and the “odd men out” do not get to receive any of the incentives for verifying transactions/blocks.

  2. This is different because the public ledger for bitcoin cannot be altered by a single individual, however, a traditional central database can and often is altered by one person or entity and has no public consensus mechanism.

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#4495

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

Consensus is taken by several nodes, and it is based on information that is available on the blockchain, the truth is verifiable.

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

On central database the truth does not have to be verified. One party can take a decision of what is true on their own. Meaning that the “truth” can be manipulated.

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#4496
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Consensus determines the truth because in order for their to be a consensus independent and decentralized nodes, who are financially incentivized to tell the trust, have to reach a consensus that a transaction is legitimate based on looking at previous related transactions on the blockchain. Once consensus is reached the data can be permanently added to the blockchain.

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

In a central database data false data can be added / data can be removed by the select person or people with access to the database hence the data cannot be verified as true and hence trust is needed in the people with access to the database to tell the truth.

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#4497

Here are my answers

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    because every transaction is in the blockchain and is verified by the open public it takes out cheats.

  2. How is this different from how truth is determined in a central database?
    because it is centralised certain companies or people can verify themselves and not in a public space in the blockchain therefor they can just lie and manipulate without any open public verification process

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#4498

1What does it mean when we say that in blockchain, consensus determine the truth?
It means that the truth is only determined when the majority of the parties involved, the blockchain nodes say that information is true and has been verified.

2How is this different from how truth is determined in a central database?
Is diffrente because in a central database the information is verifyed only in a central base of inormation, wich means that is not verifyed by anyone else.

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#4499

1- In Blockchain every active instance of the network is “watching” when a transaction is happening. If the transaction is plausible in relation to all previous ones it is agreed upon as valid and thereby creates the new truth, which can not be changed.
2- The “truth” of a central database is only true if it was truthfully entered by its operator. There is no controlling if that´s the case.

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