Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5145

  1. Bc you can not cheat in this procces you only lose money when your not being honest and telling the truth

  2. You need to work together with the people around you and verify if the story is true what someone says about there product

1 Like
#5146
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    everybody verifies the source information
  2. How is this different from how truth is determined in a central database?
    this can be controlled by the programmer/owner/manager and can be altrered and changed
1 Like
#5147

  1. Consensus determines the truth in blockchain, because each node works in conjuntion with the others to determine that each transaction makes sense and is valid.

  2. In a central database, truth is potentially determined by a single user and open to corruption or interpretation. In a blockchain database (ledger) the ā€œtruthā€ is verifiable, because of consensus and verifiable provenance

1 Like
#5148
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Consensus on the blockchain is the network of computers agreeing or disagreeing with incoming transactions. We know this verification process is trustworthy because there are monetary incentives for being honest.

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

In a centralized database we typically accept what is published as the truth. Unless we know all parties involved with company overseeing this database and can verify with them; there is really no way of knowing the complete truth.

1 Like
#5149
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    The group of participants in the network validate all the activity on the blockchain and agree on the output
  2. How is this different from how truth is determined in a central database?
    Central database validity is not a independent verification and cannot be trusted completely.
1 Like
#5150
  1. What does it mean when we say that in blockchain, consensus determines the truth?

As all computer participates to verify the transaction as a valid and truthful , consensus is made and agreed upon. As the transaction being conducted by decentralized nodes, the chances of not determining the trust is zero.

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

In central database, the verification process can be controlled and altered. Hence the consensus to determine the truth canā€™t be verified.

1 Like
#5151
  1. What does it mean when we say that in blockchain, consensus determines the truth?

The combined effort of a multitude of nodes brings forth a consensus, verifying a transaction. This becomes truth due to nodes being incentivized to only verify truthful transactions.

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

In a central database, it is easy for individuals to make false claims. There is no easy way to verify what they say as true. Even if one company refutes what another claims, there is not enough evidence. Blockchain provides the evidence. Truth becomes verifiable, rather than simply being trusted.

1 Like
#5152
  1. Blockchain has multiple computers connected in a system who are incentivized to tell the truth through financial incentives. When there are multiple non bias computer programs aiming to confirm the validity of a transaction it becomes very difficult to come up with anything other than the truth.
  2. Truth in a central database can be manipulated easily through an individuals gain through incentives to falsify the documents. When there are multiple points of interactions within the blockchain incentivized to determine the truth there isnā€™t the same motives to falsify work, actually there is quite the opposite.
1 Like
#5153
  1. What does it mean when we say that in blockchain,
    consensus determines the truth?

It seems to me that the question has the answer in it. To
reach consensus of data is determining the truth while
ignoring all other data, agreed upon by all parties involved,
immutable moving forward.

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

A central database has no consensus, it has only what the
owner enters as their truth.

1 Like
#5154

  1. Consensus determine the truth because the nodes in the blockchain all have to agree on the transaction. If any of the nodes disagree the there is no consensus and therefore no truth.

  2. It it different from the truth in a database because the computers in the blockchain have a way of verifying each transaction so there is not trust in any particular party.

1 Like
#5155

  1. It means that in oder to add information in the blockchain one must be verified and reach the consensus from the network. If everyone agree it is true it became the truth (being recorded in the ledger).

  2. The centralized database donā€™t need consensus. It just determine by the authority of the central database keeper. But blockchain use network to verify, so you donā€™t have to trust anyone.

1 Like
#5156

  1. It would be nearly impossible for a false transaction to to take place on the network because all nodes must agree that the transaction is fair and true. To allow something false would take massive collaboration but in the end, would discredit the entire system and cause all of the numerous validators to lose money. There is no possible beneficial outcome for so many people to attempt something like this.

  2. In a central database, no matter how much time and money is spent on security, there is much greater possibility for manipulation because a small number of ā€œvalidatorsā€ can be targeted and pressured to allow false transactions to take place.

1 Like
#5157 
1. What does it mean when we say that in blockchain, consensus determines the truth?

The truth is confirmed by all computers on the network.

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

In a centralized database, all data is subject to manipulation by individuals.

1 Like
#5158

  1. Nodes need to be in agreement to determine what is truth. Also, honesty is
    incentivized with gains.

  2. Typically, truth is determined by one authority and itā€™s their interpretation of truth or
    honesty or possibly the authority is straight up corrupt and will lie.

1 Like
#5159

  1. Consensus determines the truth in blockchain because the truth is verified by multiple independent validators who reach a general consensus on what is considered to be true or accurate.

  2. Truth in blockchain is different from truth in a central database in that in blockchain, multiple independent parties worked to reach consensus on what the truth is. These parties have incentives driving them to validate transactions and find the truth. In a central database, truth is self-reported by a single party with their own set of incentives to show data in a specific way.

1 Like
#5160

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Consensus amongst the nodes is required in order to add new transactions to the blockchain. This is encouraged and incentivized amongst the node network financially.

  2. How is this different from how truth is determined in a central database?
    In a central DB, there isnā€™t a verification mechanism required to add an entry to the DB - a user with access to the DB can simply manipulate the data.

1 Like
#5161

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

A consensus is reached between the different nodes which validate transactions. If these all agree that the transaction is legitimate it will allowed on the blockchain.

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

Truth in a central database is determined by an individual or central authority. No collective agreement must be reached before a transaction is recorded in the system.

1 Like
#5162
  1. What does it mean when we say that in blockchain, consensus determines the truth?*

Consensus in blockchain means all the nodes in the network agree or disagree with the transactions. So all the decisions are made together, which help remove trust. Consensus in blockchain is based on financial incentives. Participants join verifying the trust are paid by being honest.

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

In a central database, the organization or the individual owning the database has the all the rights of the database. Participants do not have the whole database to neither know the truth nor trace the truth.

1 Like
#5163
  1. Consensus is the agreement of the network on state changes based on the most recent transactions. If the network agrees a transaction is good it gets added to the ledger and if the network finds it to be false it gets discarded.
  2. In a central database a single copy database or a single individual chose what is truth. If the database is corrupted then the truth is altered.
1 Like
#5164

1)itā€™s calculated with certain formula which is repeatable,
2)in central database access is limited and management is controlled by few

1 Like