Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5526

  1. Nodes must agree upon, or come to consensus, to validate transactions. This replaces trust with verification, and a new block is not written until consensus that the transactions are valid occurs.

  2. Truth in a centralized DB is determined by the database itself. Being centralized, there are no “other nodes” to help establish verification.

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#5527

1 It means that all the parties needs to agree and validate the transaction and there is no cheating everyone needs to agree and be honest in order to make money
2 in central database there is no trust everyone can cheat and can alter the database

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#5528
  1. What does it mean when we say that in blockchain, consensus determines the truth?
  • By the Consensus mechanism, the blockchain achieves verifiable agreement between the parties involved. This is verifiable, thus valid, on the chain, where the blocks - containing the transactions - need the acceptance of other nodes.
  1. How is this different from how truth is determined in a central database?
  • in a centralized database a single entity controls the inclusion or exclusion of information, the data thus does not need a decentralized body of nodes to agree upon the block of data to be included in the database.
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#5529
  1. Since there are multiple parties involved in the Blockchain. It is difficult reach condenses if the there are are multiple ledgers. So every party has to agree on one ledger. ( decentralized )
  2. Other ledgers that exist have one central party controlling it so they can manipulate the ledger as they wish. (Centralized )
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#5530
  1. What does it mean when we say that in blockchain, consensus determine the truth? Because every user on the blockchain has the same set of rules so when transaction gets verified only then it gets added to the ledger.
  2. How is this different from how truth is determined in a central database? The truth is determined by a single user who has authority,
    decentralization is verified by code over a network of computers for authorization then added to the ledger.
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#5531
  1. Unlike a centralized database, on blockchain the ledger is publicly available to anybody, and changes to this ledger must be decided upon by a network of computers (nodes). Transactions are verified by this network of nodes and confirmed as true. No trust is needed.
  2. In a central database, a single entity controls what goes on the ledger or in the database. The public must then trust transactions/information on this ledger/database are true and not manipulated.
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#5532

Consensus determines the truth because all the information added to the blockchain will be constantly aproved true by all the nodes in the network. No false information will be added to the blockchain because the mayority of the nodes will not allow that.
In a central database you are not able to verify if the information is true. You have to trust the central owner/creator or custody of the database.

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#5533

  1. Consensus means that we have multiple computers verifying transactions on the blockchain simultaneously.

  2. A central database is different because it only has one governing body. As such, no consensus is required to verify information in a central database.

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#5534

  1. When we say that in blockchain, consensus determine the truth because in consensus we remove all the trust from any individual, it is a Trustless system, everyone is playing by the rule. We can achieve this consensus through incentive. Everything is verified and checked through the entire network.

  2. It is different from how the truth is determined in a central database because in a central data based we don’t have a trustless system. We put trust into someone or some system, and those information can be manipulated easily. People can cheat easily because not everything is verify and it is easy that someone is not playing by the rule and cheat in the system. The system can give reward to the cheater instead of penalty.

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#5535

A blockchain depends on consensus because it is a network of distributed nodes and all of the nodes must reach an agreement regarding the state of the ledger in order to determine the truth. Unlke a blockchain, a centralized database has only version of truth so it says goes!

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#5536

Consensus determines the truth because players have incentive to be honest and is different from a central database because when there is less provenance it is easier to cheat

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#5537

  1. The core foundation of the Bitcoin blockchain, the original blockchain created by Satoshi, was based on the truth. In blockchain, there is a consensus amongst the network of nodes that codes and accepts transactions before the are added to the blockchain, if the consensus is that a transaction is truthful then it will be added.

  2. Truth in a central database is determined by that database, rather than it being verified by the whole network as it is through the blockchain.

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#5538

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Concensus determines truth because every transaction has to be validated and confirmed by miners/nodes. If a transaction is not accepted, it will fail and will not be added to the blockchain.

  2. How is this different from how truth is determined in a central database?
    In a central database truth is only determined by whoever adds information. The information is not being validated and thus could be untrue.

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#5539
  • What does it mean when we say that in blockchain, consensus determine the truth?

for it to determine the truth it would need multiple networks to confirm if it is right or wrong with the data provided from the public ledger.

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

it is a global network where there is so many CPU’s (parties) to determine what is right and wrong where they are using a public ledger making it impossible to change outcome.
where in a centralized network/database there is trust in the information given and you wont be able to know if the information itself is true or falls.

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#5540
  1. Consensus is the feature that determines if a transaction is accepted in the blockchain or not.
  2. In a central database the truth is determined by an insider authority.
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#5541
  1. What does it mean when we say that in blockchain, consensus determines the truth? It means that if the decentralized network of computers verifies a transaction it gets added to the public ledger as a legitimate transaction
  2. How is this different from how truth is determined in a central database? It is different due to the decentralized structure of the blockchain which allows for verification through consensus and not one central authority who have control.
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#5542

  1. All of the nodes on the network are incentivised by $ to be truthful and all nodes must agree.

  2. If a central database is controlled by one or a small group of people; the database may be compromised. There are no trustless mechanisms in place.

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#5543

1. What does it mean when we say that in blockchain, consensus determines the truth?
Majority of the nodes have to agree upon something being true. The nodes are incentivized to play by the rules. The data that is finally accepted, gets recorded forever in the blockchain, unalterable.

2. How is this different from how truth is determined in a central database?
There’s no consensus in such a database. It’s owned by a single entity that can alter the data as it wishes, so it’s not possible to audit the data.

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#5544
  1. Consenus is that the parties around the table is in agreement. So if 4/5 says one thing has happend and 1/5 says it hasnt, its easy to see where the high probability wrong is. In this case its computers talking so it will say, oh hey this transaction is not correct, insuffisient amount. Which makes it very safe for example buying things on debt with money you dont have by lieing that you do have it.
  2. From the video i dont remeber clear explanation. However if i imagine my self its this third party, the bank checking if it is that amount on the account when sending it. It is athoritarian since its possible to manipulate debt for example to make the transaction look true or false.
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#5545

  1. Consensus is reaches when all validators agree that it is truth and is thus rewarded for it’s work.

  2. Truth in a central database is requires trust from one or more parties involved that the information is correct because the information can be manipulated

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