Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5083

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

The decentralized blockchain computer network is financially incentivized to agree whether a transaction is determined to be true or not true.

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

A centralized database would agree with the owner (authority)'s version of truth. It is not trustless.

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#5084
  1. Consensus determines truth implies that “if everybody says that it is so, then it must be so.”
  2. Blockchain truth differs from conventional db truth in that each element of data is (typically) written to a conventional database by a single entity. Therefore, each element of data is confirmed (or assumed) to be “true” only by the entity who wrote that particular data element. Don’t Trust - VERIFY. Conventional databases are not systematically verified.
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#5085
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Consensus determines the truth because computers in the network are financially incentivized to tell the truth.
  2. How is this different from how truth is determined in a central database?
    This is different because a central database is controlled by one or a small group of people who are not financially incentivized to tell the truth, and they have no one else in a network of computers to see what they are doing or saying.
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#5086

1 the truth is decided and agreed on collectively through a network
2 it’s trustless and decentralized

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#5087

1 Elements of the network verify the actual movement, and everyone talks to everyone.
2 In central database the truth can be manipulated.

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#5088

1 Consensus is a network of mechanism’s that checks all new data inputs. If the data does not satisfy all of the mechanism’s, it will not be added to the blockchain. This creates a total trust less environment .
2 In a centralized database, there is only one entity in control of the database. there is no network of mechanism’s to double check data inputs, which could lead to miss information

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#5089

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    This refers to consensus among nodes, thus preventing a single-point amendment or addition to the database. The nodes are therefore incentivised to validate only the true transactions.

  2. How is this different from how truth is determined in a central database?
    In the case of a central database, an “authority” has the capacity to single handedly amend or make additional transactions to the database and label it as a true transaction.

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#5090
  1. What does it mean when we say that in blockchain, consensus determine the truth?

consensus is met when the different nodes of the network come to the same conclusion about the activity that has happened. When they all verify the same transaction then it is added to the blockchain, but only when it is verified via consensus. therefor it is consensus that determines the truth

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

A centralised database is controlled by a person or an authority therefor that person or authority can determine the truth and can intervene as they see fit

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#5091

  1. Consensus is a verification process documented on the blockchain to determine whether or not the data entered is true or false.

  2. In a centralized database the data entered can be manipulate resulting in a unverifiable determination. In a decentralized database such as blockchain the data can be determined to be true or false.

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#5092

1 - it removes the trust aspect. it makes sure all transactions and ingredients, are legitimate

2 - A central database has to trust information coming to it,from other sources; however, it is unable to determine if all ingredients are there

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#5093

here’s my take on the questions in this homework assignment. Please tell me what you think …

Benefits of Using Blockchain

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Decentralized computers that are enabled with a public blockchain ledger, together decide whether a new transaction that wants to enter the bitcoin system makes sense or not. If these computers using this combination of provenance and consensus all agree that a transaction is legitimate, the transaction becomes verified and valid. The transaction is accepted as truth.

  2. How is this different from how truth is determined in a central database?
    In a standard central database where data can be changed, deleted or even corrupted there is no way to keep out and prevent a single domineering entity from taking control of a verification process. Also, without the layering of accounting and auditing found in provenance, there can be no reaching a consensus in a central database. A new transaction may enter a central database but without a trustless ledger in place, there can be neither provenance or the checks and balances of consensus. Users of the central database must “trust” the transaction is verified and valid.

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#5094

1 consensus is verification… Whether someone is buying or selling… A team verifies if the information is accurate or verifies the truth.

  1. A central database is a single body… it is not a group effort or should I say there isn’t more then one party involved in the verification process this causes errors and information can be falsified.
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#5095

  1. Consensus determines the truth in blockchain because the all the different computers within the network must agree that they are holding the same dat. If this is not the case then the claim that the data is true can not be made because a general agreement by all computers (consensus) cannot be made.

  2. This is different from truth held by a central database as the verification process of the data only needs to be agreed upon by 1 entity rather than multiple who can come to an agreement that the data is true. The more actors that can prove the data is true the more integrity that the data is true, the more the more the data can be considered accurate.

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#5096

1 What does it mean when we say that in blockchain, consensus determine the truth?
On a decentralized blockchain, all nodes must agree before a transaction can be added to the chain. If all the nodes can’t find the transactions that preceded this new entry, they will not reach consensus and that transaction will not be added to the chain.

This eliminates the possibility that a node might enter a fraudulent transaction . That’s why consensus determines the truth.

2 How is this different from how truth is determined in a central database?
In a centralized database consensus is not required and trust is required once again.

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#5097

  1. Blockchain, consensus can determine the truth because it has a network that must agree or the transaction will be ignored. Incentives ensure that this is the case.

  2. In a centralised database it only requires manipulating, bribing, corrupting, blackmailing etc one database to change the truth.

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#5098

  1. What does mean when we say that in blockchain, consensus determines the truth?
    In blockchain, when you hear “consensus determines the truth”, it means that the network validation protocol prevents fraud. The participates are incentivized not to allow malicious intent of any kind because of the reward based system involved. Since the vast majority of the network is playing by the rules and benefiting (by gaining Bitcoin), they are unlikely to be susceptible to anyone that comes along to spreading malicious intents among the network. This incentive (gaining Bitcoin) is at the heart of the network and why all parties involved are playing by the rules. Consensus determines truth on the blockchain by parties in the network verifying transactions. A consensus that is backed by incentives makes it difficult for parties to cheat because of the constant verification that is happening in the network. Each computer (node) is performing an unbiased and independent check (audit) of the transaction (data) that is taking place. Once an agreement (consensus) has been reached in the network, the transaction (data) is considered Truth because it has passed all the verification protocols, therefore the end result is it gets put on the blockchain.

  2. How is it different from how truth is determined in a central database?
    In a central database there is the “perception” of truth that is governed by the entity, where “truth inputs” can be managed, edited, deleted, and tampered with to reflect whatever data the entity wants to reflect as their truth. In a central database there are no cost barriers to adding, managing, editing, deleting, and tampering with the data. The nodes (computers) in the central database allow users to make changes of one’s own accord with no outside intervention, verification or validation protocols to determine whether or not these “truth inputs” are in fact Truth.

Feedback is also appreciated if I left some things out. Thank you.

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#5099

Continuing the discussion from Homework on Consensus - Questions:

Q1~REMOVE TRUST WITH VERIFY
Q2~ DECENTRALIZATION

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#5100
  1. For reaching Provenance, reaching consensus is vital. So, every nod (block) is incentivized to tell the truth as their reward is dependant on their honesty and there is no point in not telling the truth.
  2. In a centralized system, truth could be deviated or manipulated by the core of that system without any need for any verification. In this system, trust matters which plays unlike Blockchain rules favoring trustlessness.
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#5101
  1. The truth is agreed on by the people.
  2. In a central data base they base the truth someone tells them off of trust and so it can be easily manipulated.
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#5102

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Consensus determines the truth in blockchain through having a network of machines that verify the transactions added to a block on a blockchain.

  2. How is this different from how truth is determined in a central database?
    In a consensus mechanism, network participants are incentivised to do their work properly and verify the truth. On top of that, because multiple machines are needed to come to an agreement on the truth, it weeds out network participants that make false claims or propose false transactions.

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