Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5406
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means that a network of incumbents verify and agree that what is said in the blockchain is what they say (either true or false). This gives trustlessness to the system.
  2. How is this different from how truth is determined in a central database? In a central database there is an owner who determines whether something is true or not, and you depend on them to do the job.
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#5407

1,The truth is verified buy multiple Computers or the network
2,it is determined buy an individual or central authority that can manipulate the truth

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#5408

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

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

  3. All parties agree on the event noted in the blockchain and they are incentive to do so.

  4. Central database has a admin who can modify the data to his advantage and that means that all other parties must trust the admin for fairness.

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#5409

  1. In a blockhain, in order to estalish the truth about something, the consensus of the majority of the
    nodes that acts as validators is required. No act of trust is required.

  2. In a central database the truth is determined based on the trustworthiness of the actor that
    report that truth. An act of trust is required.

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#5410
  1. With consensus, all computers on the blockchain need to agree on what is true and what is not true. Everyone must play by the rules.
  2. The blockchain is decentralized. All BC computers decide if they want to add a new transaction onto the blockchain. A centralized database cannot do this.
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#5411
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Many computers all have to agree on the validity of an addition to the chain for before it is accepted, removes the need for trusting a single entity.
  2. How is this different from how truth is determined in a central database?
    A central database is a single authority on what is accepted, single point of trust.
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#5412

  1. Consensus determines truth in the blockchain as all the validators have to agree upon the truth of the transaction. Because they all much reach consensus in a decentralized manner, that then fosters the truth.

  2. Truth is other databases can be shaped or changed by the central authority or database administrator.

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#5413

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

Each node in the global network must confirm the truth of the transaction in order to be written to the blockchain, if there is no agreement, the transaction is rejected. The miners are encouraged to confirm the truth with monetary rewards and are fined if not. The decentralized system is built so that only the truth can be recorded, so we do not have to rely on trust. It is trustless.

How does this differ from the way the truth is established in a central database?
The interests of individuals or groups are more often represented in the central database at the expense of the truth.

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#5414

1. What does it mean when we say that in blockchain, consensus determines the truth?
Consensus is achieved when all computers (nodes) on the blockchain ā€œagreeā€ on a transaction that is being broadcastedā€¦ When requiring consensus on a large scale with several different computers/pin points we can see how no single point of failure would allow a transaction to be approved and/or mined without the consensus of the whole network

2. How is this different from how truth is determined in a central database?
Any central autority can seek to alter or manipulate a specific set of data/database to their own benefit. Trust play a very large factor.

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#5415
  1. Multiple devices validate each transaction. It is impossible to cheat because each node is incentivised to tell the truth through monetary rewards.
  2. Looking at the supply chain as an example, each process contains multiple suppliers so it is very easy to be deceitful and lie about what is in your product. There are very few ways to validate what is in each product we buy because it is centralized.
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#5416

  1. In this regard, it means that multiple sides that has the same info will be determining and verifying the authenticity of the info. As thereā€™s only gain in terms of being truthful thus fabrication is pointless.

  2. There is no consensus as it only goes through one channel and is at the mercy of that channel

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#5417
  1. That all of the nodes in the network have agreed on what the collective truth is
  2. A central database can either itself lie about that is happening, or be lied to by someone else in their network, and end up being wrong.
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#5418

  1. Consensus in the blockchain is derived from an algorithmic record verifiable by every computer in the network, this means no one can say anything that cannot be verified by the public as true.

  2. Is there even a way the truth can be determined in traditional networks, other than word of mouth? In the blockchain, the decentralized nature gives power to the public network to determine the truth.

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#5419

the network determines what is a valid transaction and what is false - thereby determining what is true.

a central database is open to modification by a central authority - whereas consensus on a blockchain is trust place into verified validity.

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#5420
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    It means that the consensus mechanism, between different decentralized nodes is used to determine (i.e. verify) the honesty of the information entering the blockchain.
  2. How is this different from how truth is determined in a central database?
    Truth in a central database does not require consensus as it is determined by its central entityā€“since the network is centralized.
2 Likes
#5421

  1. Consensus in Blockchain determines truth in the sense that every party required to reach this consensus is financially incentivized to be truthful.

  2. In centralized databases, truthfulness is not incentivized, consensus may not be reached as the system is controlled by a central authority.

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#5422
  1. If its verified its true.
  2. Central authority decides if its true.
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#5423

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    All the participants have to reach an agreement about whether the contents of a transaction are true in order for it to be added to the blockchain. They all have incentive to be truthful.

  2. How is this different from how truth is determined in a central database?
    In a central database the owners dictate the truth and it is up to others to trust them. They may not have incentive to be truthful.

1 Like
#5424

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Given everyone can access the database via blockchain and consensus is required to validate a transaction, so if the transaction involves any incorrect data, everyone can reject to verify the transaction.

  2. How is this different from how truth is determined in a central database?
    For a central database, the data may be removed so it might not be 100% true.

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#5425
  1. consensus confirms the truth as there are multiple nodes that collectively agree whether something is true or false
  2. centralised databases can be altered and therefore not trustworthy
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