Homework on Consensus - Questions

What does it mean when we say that in blockchain, consensus determine the truth?
more than one node will confirm the transaction and the will be no loop wholes

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

information can be altered because it is centralized their for nobody will know the truth.

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  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Every state changes within the network are checked by the network itself. Only if the computers in the network agree that the change/transaction is correct it will get processed. (kind of a democratic network within computers :stuck_out_tongue: )

  2. How is this different from how truth is determined in a central database?
    In a central database only one computer, or a single individual choose what is true, or not.
    If that one decision maker is corrupted, the whole system is.
    (kind of the North Korean version of democracy :rofl: )

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What does it mean when we say that in blockchain, consensus determine the truth?
-eliminated the trusted. all parties in the network, verifying the information base on the ledger with an agreement. if found abnormalities (false) data/ information it will get discarded and it being incentivized by the network

How is this different from how truth is determined in a central database?
-can be verify by a single individual. and it can be alter/amend without an agreement. if the source of information not correct since the beginning, nobody will know

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  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus verifies the transactions therefore being able to remove trust. Decentralized network of computers (people) are incentivized to confirm if a transaction is valid or not, making it very difficult to cheat.

  2. How is this different from how truth is determined in a central database?
    In a centralized system, transactions are less transparent and requires certain level of trusts at each stages of transactions and activities. Transactions are confirmed by trust in many cases, to be audited later on, not real time.

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

It means that if everyone buys into the network it will be a trustless society meaning no one can cheat as the blockchain verify only correct transactions as they are incentive to do so.

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

A central database is based on trust from other people without no way of checking if there telling the truth. You may have to rely on a third party to verify for you.

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  1. Meaning that the network have found consensus on particular transaction, which means everybody agree on upon that it is legit,
  2. It is trustless and decentralised, computer of nodes decide individually in code and agree upon if it is legit. Central database there is centralised authority who decides if it is legitimate or not.
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  1. It means that the system automates an audit through the different nodes to verify transactions within the network.

  2. Centralized database’s truths are ruled by the people/person in charge.

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  1. What does it mean when we say that in blockchain, consensus determine the truth?
    The network of computers in the blockchain check and verify transactions if it’s true or false. then the network of computers reach a consensus that a transaction is true. if it is otherwise then the transaction cannot be added to the public ledger.

  2. How is this different from how truth is determined in a central database?
    It is different from how truth is determined in a central database because in a central database there might only be one or more administrative role that approves or rejects a transaction and the governance or rules by which the database is run is solely from a specific individual or organisation which is centralised. In blockchain, however, the network of different computers take an active role in determining or verifying whether a transaction is true or false and the blockchain is not run by any individual or organisation.

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In blockchain structure, the decision making process is in accordance to the development or the agreement of the consensus which serves the best interest of the whole.

The database is decentralized in which all parties is capable to determine if the information is true. A centralized is opposite wherein it is dependent on the ones who own/controls it.

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  1. Consensus determines the truth in blockchain by requiring all members of the blockchain to accept and agree if a transaction is true or false. Only if all members agree a transaction is correct can it be accepted and actioned.
  2. This is different to how truth is determined in a central DB because it is open sourced and accepted by a non centralised group of members who do not have the same vested interests as a centralized trust based organization. The only interest a blockchain community has is to verify the truth because in doing this they are given incentives as a motivation.
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  1. It means you don’t have to trust anything or any product blindly.

  2. In central database, there is only one single entity which looks after the process, but in blockchain there are many computers to verify and cross-check the nod or transaction.

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  1. Nodes must reach a consensus for something to be added to the blockchain. All nodes must agree.

  2. truth is determined by the DB owner, or whoever gets credentials to the DB.

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  1. Only if the majority of independat nodes confirm data, this data is accepted as truth on the ledger.
    (Majority incentivized to tell the truth)

  2. There truth is not derived from consensus of independant nodes, thus a centralized faction could manipulate.

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1. What does it mean when we say that in blockchain, consensus determines the truth?
The blockchain consists of a network of computers that aim at building a trustless system by using a consensus mechanism. Players are incentivized to follow the rules of the network and add valid transactions to the blockchain.

2. How is this different from how truth is determined in a central database?
In a central database the truth is determined by those who control the data’s. The owner of a central database can alter entries and there is no consensus built on incentives.

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  1. It means that all the people on the network are in agreement of what has happened in the network transactions. Collectively the truth is decided and incentivized.

  2. In a centralized database it is the central authority that decides the truth and this can lead to dishonest practice or corruption of system.

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  1. It means that the network of computers all interlink and thus can confirm the truth
  2. Ina central database it is all based off 1 single copy of database, if that is manipulated it is not checked thoroughly through a numerous node system
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  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Through the decentralized system, the network of computers cooperates and comes to an agreement as to what is true and what is not. the main aim is to remove trust as transactions are accepted not because of trust but because they can be verified.

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

truth in a centralized system is based on trust meanwhile in a decentralised system, it’s based on verified data

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  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Since you have a large network of separate confirmation nodes, if they all agree on something, given the history of information, it is most likely the truth.

  2. How is this different from how truth is determined in a central database?
    The ‘truth’ determined in a central databased is determined by a singular entity. They could either falsely believe that it is the truth, because they have no one to verify, or they could knowingly input false states as the ‘truth’.

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  1. What does it mean when we say that in blockchain, consensus determines the truth?
    A request is only accepted after all the other blocks verified its history. There is essentially only verification. Invalid requests will not be accepted by all other blocks.

  2. How is this different from how truth is determined in a central database?
    The difference is one is digital verification and the other is a human verification.

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  1. What does it mean when we say that in blockchain, consensus determine the truth?
    -Only by the transaction being verified by the entire lender, can that action added be considered "truthful, and therefore allowed to become part of the lenger.

  2. How is this different from how truth is determined in a central database?
    -In a central database that “truth” is determined by a governance entity that simply just requires access to confirm the action and add it to the database.

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