1. What does it mean when we say that in blockchain, consensus determine the truth?
It means that multiple parties (i.e. nodes on the network) are in agreement that a certain transaction is valid. Hence, consensus enables the trustless feature of blockchains.
2. How is this different from how truth is determined in a central database?
A centralized database needs to be checked and verified by some third party in order to verify that all transactions are valid.
1A. Consensus arrives at an agreed truth through contemplation of incentives in action. This mechanism is the formula for the definition of truth on each blockchain.
2A. Truth is determined by the author in a central database.
1.What does it mean when we say that in blockchain, consensus determines the truth?
100% of nodes in agreement transaction for sender and receiver
2.How is this different from how truth is determined in a central database?
There are no actors in the middle of the transaction
Hi everyone,
What does it mean when we say that in blockchain, consensus determine the truth?
Because there are incentives, it more expensive to try to cheat the net than verify a real transaction.
How is this different from how truth is determined in a central database?
There are incentives to act correctly in a decentralized blockchain whereas in a central database is ridiculous that the owner of the data base pays to himself to keep the truth so this database can be modified anytime they want.
Consensus makes sure that every new block that is added to the Blockchain is the only version agreed upon by all the nodes in the Blockchain
In a central DB truth is determined by the DBA. Which is not verified by other participants than the one participant paying the DBA. If any changes are made in the DB other participants wouldn’t know.
1 - consensus determines the truth because all players of the network are verified and so recognized by all as part of the network, there is no external influence and no hiding. The truth in the network is mathematical so no questionable.
2 - In a central database truth is given by a single entity so access can be denied to verify it. So we have to trust this entity and we cannot verify if the database it 100% true or not. On the inverse a Blockchain allows and request verification of all the registered data and on real time available to all players which will agree on the verification.
Consensus by definition means that all the participants develop and decide on proposals by acceptance of all members. By “Trustless” ecosystem we refer to a “Decentralize” way of something, in this case by using a “Centralize” Database we might experience distrust respect the veracity of the facts and information released by this entity. In Blockchain we need the unanimous vote of all the members in order to approve a Request/Proposal. By example we can use the EIP-1559.
If you are interested in reading more you could read this: https://www.coindesk.com/4-myths-about-ethereum-eip-1559
Collaborative network validation efforts through multi-party confirmation via consensus algorithms such as PoS and PoW with an underlying incentive.
Truth in a central database can’t be verified as there is no DLT / Blockchain on which the data is immutable and traceable. Centralized entities can be alter data and is thus mutable, hence not trustless and incurs the need for trust.
1.Consensus is the agreement of the network on updates to the ledger and financially incentivizes to keep trust.
2. In a central database there is a central authority that decides and or manipulates the truth.
Because a vast network of computers has the same distributed ledger, that network back-stops/checks a new transaction to make sure that it is true (i.e., logical, valid, etc.). Thus, the network creates consensus that a transaction should be added to the blockchain because that transaction true as determined by network consensus.
A central database lacks the redundancy and network consensus provided by a distributed ledger. A central database may have only one person or one committee determining the truth of that database. Further, a programming mistake or malicious alteration could alter the reality of the transactions therein with no way to provide consensus protection against such problems.
Consensus is based on intrinsic incentive for multiple nodes to agree before transaction is confirmed.
Central database truth can be arbitrary and based on anything as it does not necessary contain intrinsic rules, incentive or other self-checking mechanisms.
What does it mean when we say that in blockchain, consensus determine the truth?
If we say consensus determines the truth, in essence we are saying what majority of the network says, is truth.
How is this different from how truth is determined in a central database?
The difference lies fundamentally in authority. A central database relies on a central authority to decide, main while a decentralised database’s (blockchain) decision mechanism relies upon the decision of the many within the network
What does it mean when we say that in blockchain, consensus determines the truth?
Consensus is achieved by everyone viewing the status of the blockchain all at once. Everyone can simply disregard a dishonest chain so long as participants are incentivized to be truthful, which is what Bitcoin and the proof-of-work algorithm manages to do.
How is this different from how truth is determined in a central database?
“Truth” can be whatever a centralized database wants it to be; it can even be swayed from the truth for their own benefit or by regulations. This is obviously not truthful, which is why no one can 100% trust any party.
consensus determines the agreed upon event that happened or didn’t; the nodes vote on whether some event happened or not, which determines the truth of whether or not it happened.
in a central database, the truth-determiners are those with authority to change the database…? there are fewer determiners and thus higher liability for trusting those determiners
1. What does it mean when we say that in blockchain, consensus determine the truth?
The network of computers which monitor and run the blockchain must reach a consensus on the validity of transactions in order to continue the blockchain. Consensus of valid and truthful transactions are incentivized therefore people will act in good faith.
2. How is this different from how truth is determined in a central database?
A central database is left at the helm of one of a few people who determine which data is verified. Blockchain changes that by creating an incentivized, decentralized network.