1.In blockchain there is a network of computers which affirms transaction only if transaction is right.moreover they are incentivised to be honest .thus the trancsactions are relaible.
2. In central database there might be middlemen or companies which can corrupt the whole system by being dishonest.moreover they cannot be verified which is the major drawback.
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What does it mean when we say that in blockchain, consensus determines the truth?
It is the majority of the network that decides the state of the blockchain, in Bitcoins case. So truth is achieved by giving individual actors the incentive to act in a way that supports the network, and acting together as a whole consensus is achieved by the different actors agreeing on the state. -
How is this different from how truth is determined in a central database?
The state of a central database is usually determined by one actor so if this actor does not report the truth then false information will be stored.
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- It means the network is in agreement on every transaction. Every transaction must be accepted to the network in order to be added.
- In a central database the truth is determined through trust in consensus it is determined through incentives.
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- What does it mean when we say that in blockchain, consensus determine the truth?
All computers in the network are financially incentivized to maintain the truth and transaction can be added to the ledger unless there is consensus between all computers in the network that it is true. - How is this different from how truth is determined in a central database?
In central databases there is no need for consensus
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Consensus determines truth by having all users involved in the blockchain agree on a transaction. Users are incentivized to be honest and this weeds out any faulty or invalid transaction.
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This is different from a centralized database because other parties are unable to inquire and verify information. We have to trust the centalized corporation in charge of that databse.
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1We say this because all participants receive their incentives by complying with the rules, that is, the truth is rewarded and thus consensus is achieved within the blockchain
2This differs from centralized networks in which, this condition only leaves the option of trusting a central entity and its criteria (or lack of) and its honesty.
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it means that whatever the nodes look at a transaction, they determine if itās true or not based on what the initial node that sees it first thinks and all the other nodes that see the transaction.
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central databases can be biased, you have the same people making the same decisions. This means that if the people working in the central database are corrupt then it can lead to false information and bad decisions being made. With Nodes they have no feelings so there canāt be any corruption or wrong decisions made.
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In a blockchain every node is a incetivezed to tell the truth b giving rewards for verifying correct transactions. The nodes work as a team and have to reach a status of consensus for a transaction to get verified.
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In a central data base an authority has all the control over verifying a transaction. Users have to trust the authoritys intentions. A blockchain is trustless, because it is decentralised.
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What does it mean when we say that in blockchain, consensus determine the truth?
In the blockchain, each block in the network must consent and validate when a transaction is added. In this way, truth of the transaction is maintained. -
How is this different from how truth is determined in a central database?
A central database is owned by a central authority and requires an external third party to validate its truth.
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It means that multiple parties look at a transaction and if the transactions is alright (the user has the amount of the goods he want to send) then it gets verified. If itās the case that the transaction isnāt right (because for example the user hasnāt the amount of goods) it gets declined
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In a central database you trust a single authority. This person/organization/company is able to add or remove whatever he wants. So you have to rely on trust again
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Consensus is a truth agreement by many actors.
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Truth is determined by a single central point in the database.
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- What does it mean when we say that in blockchain, consensus determines the truth?
When consensus determines the truth means in the blockchain that actions arenāt taking unless the majority of the blockchain reaches an agreement on transactions thus it means reaching consensus. Also, it means that different nodes are working to reaffirm transactions allowing the whole system to be trustless. - How is this different from how truth is determined in a central database?
In a Centralized database, thereās one person governing the whole blockchain and on top of this, this entity has the choice of altering the data without the consent of the whole ecosystem and centralized databases are also private un-like blockchains.r
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Consensus mean that all people who participate in blockchain network agreed with the transaction and it considered valid. The goal of consensus is to build trustless system where everybody will play by the rules and in exchange will get an incensive.
In central database there is no such a thing as a global consensus because the decision making is coming from the stakeholders of the company ( small group of people). The truth can be manipulated.
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1 - In blockchain the truth is the information accepted by the participants in the network meaning that they come to an agreement on the decision wether the information is valid or not.
2 - in a central database the truth is dictated by only a single or a few users and has to be trusted by the remaining users.
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Consensus determines the truth in blockchain by providing incentives to a diverse group of participant computers to reject false data entries that cannot be verified. Thus only those data entries that can be verified or accord with the pre-existing data set will be allowed to be recorded on the ledger across all participants.
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A central database relies on trusting the person or entity in control of the database.
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A majority of the network needs to agree on which transactions are valid in order to reach consensus. The stakeholders in the network are financially incentivized to validate correct transactions and to work towards consensus.
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In a central data base, truth is determined by a central authority (company, small, person). It does not have the same check and balances as the blockchain.
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Information supplied to the blockchain must be congruent with the information that other nodes verifying the blockchain. If the majority of your peers judge your truth to be falsified data, then your data will not be recorded on the blockchain.
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Truth on a central database all depends on what is currently stored on the server by those who have the authority to make such changes. Even if the recorded data is not true, so long as you have authority make administrative changes, you can tamper with what is labeled as āthe truthā on such a database.
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- What does it mean when we say that in blockchain, consensus determines the truth?
The majority of the network can verify the authenticity of transactions or information to the blockchain creating consensus. - How is this different from how truth is determined in a central database?
The controlling party of the database determines the truth of the database and can manipulate the database.
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1.Consensus is the agreement of all the different nodes on the network of the validity of something. Say you want to send 1 BTC from your wallet. First step is for nodes to validate that it is true that you have 1 BTC. This is done through consensus, meaning all the nodes on the network should check their ledger and agree that it is true that you have 1 BTC.
2.In a central database, the truth is not validated by other nodes. There is no need for an agreement as to what is true. Since it is central, the database can therefore be changed
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- What does it mean when we say that in blockchain, consensus determine the truth?
It means that there is an agreement between the network participants - How is this different from how truth is determined in a central database?
Central database inherits singular top-down decision for what to contain and what is determined as truth
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