- What does it mean when we say that in blockchain, consensus determine the truth?
In order for a transaction to be completed on the block chain a consensus must be reached. This means that each computer with access to the block chain must agree that the data represented on the blockchain is based on data that is valid. If they do not all agree on the authenticity of the transaction then it will not be confirmed, and won’t become part of the blockchain. Consensus determines the truth means that once each computer with access to blockchain interacts with each other to verify the data in the transaction, we will know if the transaction is made with real data because it will be verified (in real time) if the data represented in the transaction is real or fake. - How is this different from how truth is determined in a central database?
In a central database, the truth is controlled by an individual. If the person running the centralized databased wants to change data in an account to allow the transaction to go through, then that person can. You must trust that the central database will not distort information.
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What does it mean when we say that in blockchain, consensus determines the truth?
- It means checking the public ledger and when a new transaction, that comes from someone who has enough funds to spend, comes in and if the nodes are in agreement then it is added into the blockchain. It also means that a decision is made on a decentralized network that several parties are involved and that there is decentralization and no one single party controls the decision. Finally, it also means incentives given to the ones who are telling the truth.
How is this different from how truth is determined in a central database?
- In the blockchain, we do not trust or rely on a single central database rather by several parties deciding on something and reaching a consensus. This is done by giving incentives to the nodes to tell the truth and everyone is incentivized to play by the rules.
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Concensus is the idea that multiple parties come to an agreement about the details of block/transaction and the fact that once their is over 51% of the parties agreeing that the information is correct then it gives the ability to dertermine the truth. The bigger the network gets it then makes it easier to determine the truth purely because its harder to impossible to alter the ledger.
Its different to a centralised database because a centralised database can be altered by one or a few people easily. Truth in a centralised database is basically just the faith in the singular entitys information.
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What does it mean when we say that in blockchain, consensus determines the truth?
Each node on the blockchain or network must agree by way of verifying information that they all should have a copy of. If all don’t determine something to be true, then it’s false or ignored. -
How is this different from how truth is determined in a central database?
In a centralized database, truth can be whatever someone entered in and you trust that they are accurate or not misleading. Blockchain removes trust and proves the information as true by way of consensus on the network. Removing the ability to edit anything.
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- What does it mean when we say that in blockchain, consensus determines the truth?
The whole concept of consensus is depending upon incentives. We are being awarded to by network for being honest. So when we have more honest nodes in consensus within the network then the data generated by the network can be trusted. Thus consensus determines the truth. - How is this different from how truth is determined in a central database?
Central database has single source of truth. The DBA can amend the databases upon requirement. This is exactly opposite to what blockchains does. They have consensus among various nodes to verify the ledger, hence false inputs can be avoided by incentivizing nodes.
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- What does it mean when we say that in blockchain, consensus determine the truth?
Whenever there’s a new transaction on the network happens it is validated through records maintained on different computers within the network. Wherein decision is taken unanimously by all the entities within the network.
- How is this different from how truth is determined in a central database?
On central database is verified against information stored on the single system or their mirrors. They are very much vulnerable to security breach, dishonest motives of the central database owner etc.
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- What does it mean when we say that in blockchain, consensus determine the truth?
It means that decentralised network of computers must arrive at a consensus for every problem and agree whether something make sense and it is true and is therefore being let in to the blockchain or not. Consesus is achieved by financial incentives building on popular human need to make money. In this system we are being financially rewarded for being honest and truthful.
- How is this different from how truth is determined in a central database?
In central database decisions are being made by a single person or a group of people who can access information and who often have their own agenda to push. They also reach a consensus but its not neccesarilly based on what is true or honest or a common good but what brings benefit to those with a decision making power. Possibility of financial incentive to be dishonest.
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What does it mean when we say that in blockchain, consensus determines the truth?
Blockchain achieves a more secure, trustless system, as the truth (information admitted into the blockchain ledger) is determined by whether every actor in the network agrees over its validity.
How is this different from how truth is determined in a central database?
Other databases may be less secure and easier to cheat, as without blockchain’s principle of consensus, the truth can be determined and exploited by a few or a single actors, without verification of the many.
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1. What does it mean when we say that in blockchain, consensus determine the truth?
The truth in blockchain is verified by many participants who are linked as a network. It is a group consensus based on a clear historical record. This agreement eliminates the need to depend on a governing authority. Because of the blockchain mechanism, consensus increases the incentive to tell the truth.
2: How is this different from how truth is determined in a central database?
The reality of a block chain is formed by consensus among decentralised database verifying entries, while the central database does not have a way to validate a new entry into the database through consensus.
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Consensus determines the truth in blockchain because everyone has to be in agreement for a transaction to go ahead. This means that you can’t cheat the system by contaminating it with something because it will be exposed and rejected. This makes it hard to cheat as everything is verified therefore you don’t have put your trust in one thing/person/organization.
In a central database one organization can determine the truth and this can’t be verified by others. People have to put their trust in this which is not such a good thing.
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- all information in the block chain is being constantly verified. one does not need to know the other parties but can trust them by verifying.
- there are several mechanisms for verification as well as everyone is incentivised to be truthful and not try to manipulate.
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1. What does it mean when we say that in blockchain, consensus determines the truth?
Consensus is the agreement between each member of the blockchain about what is true and what is not. Trust is removed due to verification which is achieved through incentives.
2. How is this different from how truth is determined in a central database?
Truth in a central database is always build on trust of the central party. The central party determines what is true and people can trust that or not.
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- What does it mean when we say that in blockchain, consensus determine the truth?
consensus is a group of nodes or computers that together verify information, this is what is meant by consensus determines the truth in blockchain
- How is this different from how truth is determined in a central database?
in a central database it relies on trusting another customer or person to determine truth
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- What does it mean when we say that in blockchain, consensus determines the truth?
All parties/nodes agree on what is true on the blockchain. - How is this different from how truth is determined in a central database?
Truth is determined by the community with each party incentivized to be truthful
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- Consensus would determine the truth because truthful behavior is financially and economically incentivized
- In a central database, truth is determined based on trust and can be easily changed by the administrator without the public knowing about it
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Consensus basically means that all of the participants in the ledger, the server participants, come to an agreement on what is accurate by verifying their data with each others.
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This is different from a centralized truth where you just need to take what is given on trust because you have no way of verifying
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- What does it mean when we say that in blockchain, consensus determines the truth?
When a transaction enters the blockchain, any active node that sees the transaction determines whether or not to verify it and allow it in the blockchain.
- How is this different from how truth is determined in a central database?
In blockchain, trust is not required while in a central database, one needs to decide on their own whether or not the information presented is true or false.
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- What does it mean when we say that in blockchain, consensus determines the truth?
All that is required for there to be truth on an outcome is that all invested parties or persons have pre-set conditions met and therefore agreement on the said blockchain. When there is agreement upon certain conditions with ‘nodes’ then there is ‘truth’.
- How is this different from how truth is determined in a central database?
Simply that the database has a ‘master’ controller that can ‘officiate’ or ‘call’ the outcome of the said transaction/agreement to arrive at the truth.
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One party or entity decides the truth in a central database. In blockchain, the truth is determined by a network of computers communicating together to verify transactions.
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- What does it mean when we say that in blockchain, consensus determine the truth?
Consensus is an agreement between different parties on what the truth is. In blockchain meaning that changes in the network can either be verified or be discarded by the network as a whole. Trust in the network is having not to trust individual actors which can be corrupt. - How is this different from how truth is determined in a central database?
A central database is a centrally governed one. Incentives to manipulate the data can arrise that does not necessarily benefit others using this database.
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