Nice verbiage Homie!
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What does it mean when we say that in blockchain, consensus determines the truth?
When decisions are made on decentralized blockchains you know that decisions are finalized through consensus or “Majority of Opinion” by independent nodes that seek reasons and red flags to eliminate bad blocks. -
How is this different from how truth is determined in a central database?
A database is centralized and managed by a company or individual. It can be edited and compromised. The finality of the block chain assists in diminishing the risk of the database being compromised.
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that it is verified by many nodes, parties, machines, before on can asure that the information is the truth.
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central database its simply on way of looking at the information and we just need to trust that only one source of the information. If it is corrupted the truth will no longer be that.
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- Once there is agreement by the majority of the computers (nodes) in the decentralized network that a particular transaction on the shared ledger is true, then it will be accepted into the blockchain. Hence, consensus goes a long way to achieving trustless verification and tracking of transactions. Transactions on the blockchain are also considered immutable.
- In a central database, truth is determined by a very small number of individuals who have the power to change records in the database without the knowledge of the broader group of content owners and users.
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What does it mean when we say that in blockchain, consensus determine the truth?
Consensus is used to accept/confirm transactions onto the blockchain. Consensus is reached when a certain amount of the nodes on the network come to agreement or consensus that the transaction is legitimate. This determines what is confirmed onto the blockchain and is therefore “truth”. -
How is this different from how truth is determined in a central database?
In a central database there would one entity telling you that the transaction is legitimate without the information to confirm transaction is actually legitimate available. Trust is relied upon instead of verification by consensus. You must believe the providing central entities truth.
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Consensus
- What does it mean when we say that in blockchain, consensus determines the truth?
It means that decision making is being made as a group and the majority rules. A transaction is being examined by a group of nodes with their own copy of the ledger of addresses and transactions and balances, these facts help the nodes make a collective decision to either write or deny the transaction to be written to the blockchain.
- How is this different from how truth is determined in a central database?
You have to place trust that the central database is true and factual an unaltered. There are no incentives inherit in the design and there isn’t a guarantee that everyone will play by the rules due to the uncertainties of human nature.
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- Because without consensus cannot be create blockchain, so when all parties are agree that the transiction is true then they write in ledger.
- In the central database there is no consensus because of single database there is high chance that the data is not true.
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- With financial incentive to play by the rules to tell the truth.
- Blockchain consensus always askes the question of should this transaction even be considered into the network, not so in central database where all entries are made truthful or not.
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- What does it mean when we say that in blockchain, consensus determines the truth?
It means that when all the nodes in the network (participants) are in agreement, that in terms of the network, that is the truth. That is the agreed-upon truth of the network, determined by consensus of the group.
- How is this different from how truth is determined in a central database?
It’s different because in a central database the truth is dictated by the controller of the database, there is no consensus from users of the database.
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In blockchain, everybody verifies everybody so it is very difficult to cheat. Everybody has to agree and if there is disagreement, there is a lie somewhere.
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Only one authority is verifying the truth in a central database and one authority is keeping multiple people accountable. Whereas in blockchain, multiple people are keeping a single source accountable and it goes in reverse as well.
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- In a blockchain, trust is replaced by verification. It’s a network of trustlessness where all the nodes are in consensus, and if there is a disagreement, there has to be an error and a transaction cannot be passed, therefore the truth was told.
- In a central database, only one party/authority determines the truth instead of multiple parties at once are in consensus and agreement, reliability and trust take place which is not the goal.
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Question 1) What does it mean when we say that in blockchain, consensus determines the truth?
Consensus is the method and rules used by the blockchain network to determine the true state of the information held by the ledger. Each individual node on the network must agree that the state of the information held locally is “true”. This is achieved through POW (proof of work) mining, a system where the node proposing a new block must provide the solution to a cryptography problem. Once this problem has been solved, and validated by at least 51% of the other nodes on the network, the block is added to the blockchain. If the new block being proposed has information that has been doctored in some way, validation will fail, and the block rejected. This will result in real term financial loss for the individual node seeking to enter a doctored block.
Question 2) How is this different from how truth is determined in a central database?
In a blockchain, the system is “trust-less”, and transactions verified across the network by independent nodes. This requires no central administration to enforce rules and make decisions regarding provenance and consensus. With a central database, the information is stored locally on data storage systems, and anybody who has access to that data storage system can enter fraudulent information into it. This results in the database being wholly dependent on the honesty of the administrators and organization that service the database, and as a result, the data you entrust to a traditional database then becomes dependent on a high level of “trust” in the administrators.
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What does it mean when we say that in blockchain, consensus determines the truth?
It means that all nodes have to agree that the new block’s data is accurate. -
How is this different from how truth is determined in a central database?
Central databases don’t require consensus from participating nodes. Giving the central admin the ability to determine what is considered true or not.
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nice work really. Thanks
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What does it mean when we say that in blockchain, consensus determines the truth?
the network of computers working to verify the validity of a transaction; once agreed, it will be incorporated in the blockchain ledger thus confirming the truthfulness of the transaction -
How is this different from how truth is determined in a central database?
In a central database, the transaction/data/truth can be easily manipulated because there is no other parties to monitor such fraud.
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What does it mean when we say that in blockchain, consensus determine the truth?
Consensus determine the truth not because of some moral or political authority, but because all information withim a blockchain are never erased. You can always verify again and again the same information.
That said, the network of computers verifying the informations are paid to say the truth about the informations withim the transactions and propriety of assets. Its profitable to be honest and help others on the blockchain architeture.
By removing the demand for trust (or fear) the consensus method can remove a substantial amount of the stress withim the certifications and transactions on the financial system.
How is this different from how truth is determined in a central database?
Withim the centralized database models the trust relies on the institution and persons behind the technology. But on blockchain networks the trust relies on the mathematical principles that, till now, cant be broken.
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1.Because you need the majority of the decentralized and open(transparent) network/nodes to verify/agree on(truth) a transaction and if not the transaction will be rejected(lie).
2.A central database is controlled by a centralized authority behind closed doors and and could easily be manipulated.
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What does it mean when we say that in blockchain, consensus determine the truth?
the information added onto the blockchain has been verified and agreed upon by all Nodes (network participants) that have been incentivised to tell the truth. -
How is this different from how truth is determined in a central database?
there is not one single party that takes a decision, every transaction/information added to the blockchain is verifiable and so removing trust. Central databases can be easily manipulated.
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1- means that in the net of nodes, that make up the blockchain, they all have to agree and reach consensus. this consesus is being reached trough incentivising the different nodes to tell the truth.
so if every node tells there truth they will reach consensus and the truth is determined.
2- in blockchain it is decentralized and trustless. in a central database we always have the trust a authority which might have there own incentives, whereas in blockchain one community with excactly the same incentive comes to consensus about the truth.
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- What does it mean when we say that in blockchain, consensus determine the truth?
A. Individuals confirms whether the transections are true and they are incentivize to do so. they are paid to confirm the truth. - How is this different from how truth is determined in a central database?
A. Central database individuals cannot verify the truth. thus, the central authority has the power to provide false data.
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