Homework on Consensus - Questions

Blockchain and Bitcoin 101
#4540
  1. What does it mean when we say that in blockchain, consensus determine the truth?

A variety of nodes within the network must come to an agreement or “consensus” that a transaction can be accepted in the database. This is achieved through:

Process Validation
Network math
De-centrilization
Incentives

If any of the nodes in the network determine that the transaction is erroneous, corrupted or anomalous then the transaction will not be verified as true and accepted into the ledger of the database.

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

In a centralized database truth can be determined by a single party that may introduce bias. A main “gatekeeper” of transactions is by its very nature very insecure without a redundant system that requires an audit. For example, a government procurement officer responsible for taking bids from defense contractors may be able to favor one supplier over another if he or she is the lone gatekeeper for purchasing and if there is no consensus or validation process among suppliers.

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#4541
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Several different parties agree to come to the truth about something.
  2. How is this different from how truth is determined in a central database?
    This decreases the likelihood that a centralized database can be dishonest about something.
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#4542

  1. What does it mean when we say that in blockchain, consensus determine the truth? what it really means is that consensus depends on the fact that everyone is incentivesed to play by the rules.

  2. How is this different from how truth is determined in a central database? A central database is centralized so the truth of that database is in the hands of the entity that owns or control that data.That entity itself or owner can manage, edit, delete, add, manipulate the data amongst other things.

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#4543

  1. Whether a transaction is validated or rejected in the blockchain, is determined by the consensus of the nodes in the chain. Thus, the outcome of the consensus will respectively alter the blockchain, shaping the new truth, and this change will remain during the lifetime of the network itself.

  2. In central databases the current state is dictated by the state of the database itself, which can act as a single point of failure if it gets tampered or corrupted. There are technologies in central databases to mitigate these problems (snapshots, persistence, table copies etc), but they are not as robust and reliable as a distributed blockchain.

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#4544

Consensus determines truth on the blockchain, by having multiple nodes verifying provenance.

In a central database, truth is not verified across multiple nodes, which are all calculating mathematics, in order to conclude provenance and approving transactions.

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#4545

1.Consensus allows for the true Information verified by other party’s in a trustless manner to be added to an open ledger.
2. In a central database information can be added that is not necessarily true and is difficult to verify the information.

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#4546
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    -All nodes on the network have the same copy of the blockchain and therefore a complete record of every transaction. This means that the nodes all agree on what has and what hasn’t happened, or a global, irrefutable truth. This agreement or “consensus” is reached by all the individual nodes which are incentivized to be “good actors” in providing accurate information.
  2. How is this different from how truth is determined in a central database?
    A central database is centralized as per the name, meaning that there is only one record that must be trusted by all parties, unlike a blockchain which has a complete & immutable record, obviating the need for trust between parties.
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#4547
  1. each node verify and confirm the record by consensus to determine the truth
  2. in a blockchain, the records are open, public, decentralized & trackable. truth is base on consensus that have be verify and confirm by all the nodes in the blockchain. In contrast , a central database record and be alter or change without notifying to any other node which means truth may change.
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#4548
  1. All nodes on the network agree on whether transactions are valid or not.
  2. A central authority determines whether a transaction is valid or not.
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#4549
  1. blockchain enhances trust across a business of the network verifying a transaction
  2. central database can be compromised due to fraud or simple mistake.
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#4550

Homework - Consensus

  1. What does it mean when we say that in blockchain, consensus determines the truth?
  • The distributed public ledger MUST have AGREEMENT & balance before any transaction is accepted
  • Several parties are involved decisions are double-checked/made together
  • Is Trustless
  • Involves verification
  • Incentivise honesty
  1. How is this different from how truth is determined in a central database?
  • There is a single or group closed entity narrating the version of the truth to be released without openness transparency and an independent audit in real-time
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#4551

1/ consensus in blockchain is due to the fact that any node has to agree about a new transaction. As nodes are independant from each other, truth comes as a shared by each node.

2/ in a central database, truth is delegated to a tier one entity, accredited to be so: then, control is not in the users hands, but delegated to a trusted third party.

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#4552
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Consensus must be reached between nodes to validate each transaction. Transactions must be deemed to fall within acceptable parameters in order to be verified. Once verified an immutable and uneditable record is held be all parties thus true record is preserved. This ensures a trust less system.

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

Each party must trust that all records have been entered accurately, have not been edited or mishandled, and trust is required.

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#4553
  1. What does it mean when we say that in blockchain, consensus determines the truth?

When a new entry is presented in the blockchain It needs to be decided if it is valid or not. Each node in the the network is will point if this new info is in accordance with what they know already. If nodes agree (usually by majority) they reaffirm this new info as valid and it is now placed in the blockchain

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

In a centralized database the validity of a new entry is decided by a specific authority. This requires the presupposition that one can trust this authority. In blockchain one can rely on the consensus of the nodes in the network as long as there are incentives for them to be honest, usually by a kind of a reward system.

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#4554

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

It means that this consensus provides an incentive to say the truth. All computer/users are incentivized to say the truth. There is no owner or an authority, so everyone controls everyone. This consensus is mathematically proofed. We don’t trust, but we verify. And people are motivated to be honest, because by being honest they gain mone.

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

When a central authority determines the consensus, the state of the database is in the hands of the owner. He has full control over the user’s information, as well as the power over security. So we have to trust. In Blockchain where there is decentralisation, everyone controls everyone and we dont trust, but we can just verify transactions.

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#4555

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Due to the fact that the blockchain is a mathematical algorithm and is built on the incentives given as rewards to agree on transactions via the (community with a stake in the Trustlessnes of the Blockchain)

  2. How is this different from how truth is determined in a central database?
    In a centralized database Trust is assumed and can only be affirmed via external audits where blockchain is a fully consensus trustless mathematical fact! Proved by code and the community

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#4556

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    A: Whether or not a transaction is confirmed as part of the system depends on whether a number of members of the network agree. The greater the number of parties confirming the transaction, the greater certainty of its truth.

  2. How is this different from how truth is determined in a central database?
    A. In a central database, the confirmation is done by one party only: the central authority. Everyone using the network must therefore trust the central authority to be honest and accurate. Consensus on the blockchain, OTOH, means users do not need to trust any single party.

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#4557
  1. Because it can be verify
  2. In a centraldata base the truth is based on trust.
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#4558

  1. Consensus is given when the network participants agree on the acceptance of e.g. a transaction to be included in the blockchain. As the blockchain is further build on this transaction and further transactions might be based on that one transaction a single truth is created.

  2. In a central database the database owner has the power to create several truths and change them in hindsight as no external and independent network participants validate the owners actions

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#4559
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Consensus determines the truth by means of a community decision, so to speak. All the nodes on the blockchain network agree what is true by verifying and either accepting or denying transactions.

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

A central database is the truth of 1 machine and/or the person administering it instead of many machines unanimously agreeing what is true.

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