Consensus allows decisions to be verified on a trustless network efficiently. Before blockchain, businesses would rely on trust for this data
- The truth comes to be known and agreed upon by many (nodes), all agree by tracing/tracking the blockchain transactions
- A central database can contain errors, since each entry is not verifiable to the degree blockchain provides. It is typically maintained by one or a few custodians so can be prone to human error as well, especially if not incentivized correctly.
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What does it mean when we say that in blockchain, consensus determines the truth?
a. When multiple computers agree on a mathematical equation it becomes irrefutable, again decentralization makes it impossible to lie. -
How is this different from how truth is determined in a central database?
b. a single database can be programmed to spit out 2+2=5. Truth for a single computer relies solely on the programmer and the owner of said database. this means you must have 100% trust in their honesty and infallibility.
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What does it mean when we say that in blockchain, consensus determines the truth?
It means that the network that verify a transaction within the blockchain, are agreeing on wether a transaction is true or false. The incentive is to find out the truth. If the network agree on that the transaction is good/real, it will get added to the ledger. If the network finds the transaction to be fake, it will not get added to the ledger. This method is trustless, you do not need to trust or rely on any person during these process. -
How is this different from how truth is determined in a central database?
In a central database, the incentive for the people or individual in charge can be to lie, manipulate and not tell the truth for their own benefit. In this process you have to trust the people or individual in charge.
- What does it mean when we say that in blockchain, consensus determine the truth?
It means all nodes on whichever blockchain network in question check their copy of the ledger and all agree that the transaction makes sense and agree upon it before adding the transaction to the blockchain
- How is this different from how truth is determined in a central database?
A Central database isnât trust less and does offer any real transparency therefore can be altered at will
Homework on Consensus - Answers
1. In blockchain, each individual node utilises a system of mathematically determined validation to verify every record in the block and each block on the chain. Through this economically incentivised system, each node is encouraged to stick to the rules creating a decentralised, secure network effect. Since all nodes have an individual copy of the blockchain, the network is built such that no single node can edit any record within the blockchain without the other nodes being alerted and hence, having the edited record rejected. This is how consensus is applied in digital ledger systems so users of the network can be assured of the blockchainâs recordsâ validity of truth.
2. Central databases are different from blockchains in their determination of truth in that centralised databases rely entirely on the network usersâ trust of database owner. The owner can omit, change, delete and rearrange records as they see fit without the network usersâ knowledge as they own or control the database in its entirety. Consensus is integral to the decentralised nature of blockchain. This means that all the node validators participating in the network get to mathematically validate every block on the chain without the involvement of the central database owner acting as the middleman.
It means that information can only be added to a blockchain if it has first been verified and agreed upon as truthful by parties in the network who participate in consensus,
In a central database the the information that determines the truth can be changed or altered at any time by who ever owns or has access to the central server where information is stored.
- In blockchian, concensus determines the truth of the data entries by creating a system of
seperate parties (nodes) that are incentivised to prove or disprove all new entries before
they are added to the permanent ledger. - With central data bases, the âtruthâ can be manipulated because the inputs are not
confirmed by various nodes that are incentivised to find the truth, but are instead âvarifiedâ
by a centralized authority that may be incentivised to hide the truth.
- What does it mean when we say that in blockchain, consensus determines the truth?
Records are only added to the blockchain via a consensus. - How is this different from how truth is determined in a central database?
With centralized databases there is not a trustless system to validate records. The centralized nature creates a need to blindly trust.
What does this part mean?
âNetwork redundancy prevents accidental lossâ
- What does it mean when we say that in blockchain, consensus determines the truth?
- How is this different from how truth is determined in a central database?
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What this means in the block is that a transaction or information is first introduced into the blockchain and verified by a public network that prevents fraud, by multiple validators that verify if itâs true or false. It also prevents errors. From what I investigated.
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In a central database, truth is determined by an imperfect owner which can corrupt or falsify the data that goes in it.
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A blockchain is a decentralised network of computers, or nodes. Each node in the network has to agree to any new transaction or addition of data. This is done by each node verifying its own copy of the blockchain data and creating a consensus, which then determines the facts, or truth. Cheating the network by adding false transactions or data is essentially impossible, because the network would quickly identify them.
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A central database can be altered at any time, and alterations can potentially be hidden or rewritten fairly easily. Not only that, centralised databases are generally controlled by a select few users or entities. There is no decentralised or outside network that can verify the integrity or âtruthâ of any changes made, so itâs impossible to really know if a central database contains truthful information or not.
1.Many different computers or nodes on the network view a transaction and come to an agreement upon whether the information given is true or false. Honesty is rewarded on the blockchain.
2. With a central database conclusion is made by one entity, in blockchain many different computers determine the truth.
- What does it mean when we say that in blockchain, consensus determine the truth?
Consensus would determine the truth as all parties have to agree to any changes being added to the blockchain.
- How is this different from how truth is determined in a central database?
For a central database, we have to trust whatever that they do is true.
- What does it mean when we say that in blockchain, consensus determine the truth?
The actual (true/real) value of the data is determined not by a single node in the network but by the entire network before that data is placed on the blockchain.
- How is this different from how truth is determined in a central database?
In a central database, the truth is respective to that central entity. It can be updated or altered depending on the needs of that central entity. In contrast with the truth determined thru consensus, the network agrees on the truthfulness of the data.
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In blockchain consensus determines the truth because the information/transactions on the blockchain have to go through a decentralized verification process and it is only when a consensus is agreed upon by the different component/participants of the system that a new transaction/information is added to the immutable record as a true transaction or information.
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A central database does not have this decentralized consensus system and as such information can be put on and off a database like that without any verification to confirm the authenticity of the information/transaction.
1.Consensus determines the truth, means All nodes must verify the information to reach consensus.
With consensus, data can flow without corruption or alteration.
- This is different from how truth is determined in a central database because unlike on a blockchain, a central database has all the information with no other nodes checking it. This allows for altering and corruption of the original data.
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In blockchain consensus determines the truth because the network has to agree something is true and order to be validated
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This is different from the truth being determined by a central database because in a centralized database you rely on trust for information. Data can be altered, added, removed, meaning changed. A centralized database doesnât rely on consensus on a blockchain network where data cannot be altered and multiple computers on the blockchain who have access to the same information can verify it and come to an agreement on the information.
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What does it mean when we say that in blockchain, consensus determines the truth?
Because nodes are incentivised to be honest, we know that when consensus is reached and a transaction is verified and added to the blockchain, the data is the truth. -
How is this different from how truth is determined in a central database?
There would have to be trust in a certain central authority, since there is no way of knowing what the ulterior motive of said authority is, you can never be sure the data is the truth.
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In a blockchain when a new transaction comes through, the different nodes need to come to an agreement whether to add this new information or not. This process is determined by consensus mechanism. Therefore the consensus defined the truth by deliberating which data is added to the blockchain.
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In a central database, the decion maker responsible for determining which mechanism validates the information is the entity owner of the database. This incentivizes the owner to act in its own behalf and not in the behalf of the all network.