Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5587

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determines the truth? On a blockchain, many different people (nodes) must agree before the information is added to the blockchain. This agreement depends on verifying information from multiple sources. It is a trustless system - in other words, it does not depmned on trusting any one individual. The truth is determined by many and it is verifiable. Additionally, blockchain communities are incentivized to be honest because they are rewarded financially - dishoesty results in immediate penalties. Incentivized honesty leads to consensus on the blockchain and illiminates corruption so prevalent in the world.
  2. How is this different from how truth is determined in a central database? In a database the information is added by an individual - it may be innacurate or totally false - it is generally not easily verifiable. Information in a database can also be changed and all the information is not genrally public.
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#5588

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
  • Consensus in the blockchain means that all of the individual operators of the blockchain have the same “outcome” that a transaction is valid and did in fact happen, without actually knowing/working together with one another.
  1. How is this different from how truth is determined in a central database?
  • Truth in a central database is relied upon by the entity or entities that control the database.
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#5589

  1. With consensus in blockchain, multiple sources confirm the truth. Apply to a real world setting, no one can lie if there are multiple different sources that can confirm the truth.

  2. In a central database, one party holds authoritative power, which means the truth can be skewed and/or tampered with.

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#5590
  1. On a Blockchain, the “truth” or validity of a transaction is determined by a consensus of the network agreeing on a transaction taking place.
  2. Basically in a centralized system, there’s a reliance of trust in a party’s reputation for upholding good business practices.
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#5591

  1. It means not to trust but verify.
    Instead of trusting an individual it better to verify the statement or transaction from the majority of the people.

  2. In Blockchain truth is determined by verifying and providing incentives for doing so.

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#5592

Blockchain technology determines truth through consensus by having nodes reaffirm transactions this is what is meant by saying “it is trestles”.
centralized database can be modified but with consensus and a decentralized blockchain you maintain confidence through verification.

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#5593

  1. Consensus determine the truth means that the computers verify the network mathematically for incentives to notify of any strange transactions. Making the decentralized network trustless.

  2. Central databases are built off of trusting an individual or entity that they are doing or providing what they say they are. Meaning we have to trust that company/entity.

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#5594
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus is removing trust and it could be seen by how group of people gain money honestly. In an open ledger all the info is open for everyone and can’t be hide.
  2. How is this different from how truth is determined in a central database?
    It simply ruled by owner or so and can’t be changed.
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#5595

Homework - Consensus

What does it mean when we say that in blockchain, consensus determines the truth?
In blockchain, consensus determines truth because everyone has to agree. When a decision is being made several parties are involved to verify that the information is true. All decisions are being made together and are being double checked.

How is this different from how truth is determined in a central database?
Truth is different in a central database, because it is determined by trust. One person’s ‘truth’ could be different to another persons. Information could be lost in translation and / or modified along the way.

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#5596

1.It means that through consensus there is a narrative that is agreed upon by the majority which is the truth
2. In a central database there is usually a single or a handful of entities that determine the truth, and are usually connected in a manner outside of determining the truth possibly leading to them having influence over each other, whereas in a blockchain there are several entities that are not connected in any other manner than determining the truth.

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#5597
  1. What do we mean by information Silos?
  • This question has been removed off the revised homework but it’s still there if you open it up. I think Information silos from what I recall in previous lessons and reading of comments, are stacks of data that do not communicate to each other in real time, like blockchain does.
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#5598
  1. Because all the computers must reach a consensus of whether the respective action actually happened or not, or can happen in the first place. That consensus they reach becomes the truth.
  2. It’s being determined by code and computers rather than people. That, and it cannot be changed, which can happen in centralized database.
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#5599
  1. What does it mean when we say that in blockchain, consensus determine the truth?

A party of nodes in a network collaborate to affirm a transaction and allow inputs to be approved by consensus, thereby being “the truth.”
2. How is this different from how truth is determined in a central database?
Central databases are designed to be managed by either one party or a limited number of people. Trust is the factor there in which the possibility to verify is very small, giving those in charge a lot of control of the information. A decentralized blockchain gives anyone the capability of individually verifying the information and the ability to participate in the network.

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#5600

1 - What does it mean when we say that in blockchain, consensus determine the truth?

A consensus is when several actors agree to provide or determine a specific response by way of a true response because it is collectively determined. Here, via the blockchain, therefore by the concept of ledger distributing the consensus mechanism is a computerized mathematical consensus allowing mathematically and statistically to ensure that collective decision-making is true. For Btc the mining of a block is accepted and true if and only if the majority of miners recognize the validity of the mined block. For a DAO, a proposed vote becomes effective if and only if, under the guarantee of a certain number of tokens, over a certain period of time a set of parties taking part in the vote accepts the majority of the proposal made, which will pass from the status of proposal. presumed, to a proposal accepted to integrated.

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

In a centralized database, the truth is determined by an internal and centralized consensus, that is to say first of all by the policy that the employees of an entity such as facebook must respect to access the positions in question, and then its same employees, let’s say its content administrators, obey the policy set by facebook to authorize or not the content posted on the servers according to a certain nuance of judgment, t are all very automated when it is not already a algorithm the content moderator. Thus, users have almost no way to indulge in every topic that comes to their mind if the content policy of the user’s post is not in full compliance with the consensus policy of the user. central authority.

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#5601
  1. It means that everyone has to agree on a transaction for it to be allowed.
  2. On a central database only one entity has to make a change for it to occur. Susceptible to hacks
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#5602
  1. It means that it is the agreement of the network on its most recent transactions. If the network agrees that the transaction is good it gets added to the lodger. If the network agrees that the transaction is not good then it not added
  2. In a central database the person who controls the database can make his own truth.
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#5603

  1. In blockchain, if a transaction has been deemed as true, it means that the whole network has reached the consensus that the transaction is, in fact, true, otherwise it would never get written in the ledger.

  2. In a central database what is true can be declared by a single entity who can alter the truth.

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#5604
  1. The network has come to an agreement using math to determine if it is true of false
  2. In a central database it is decided buy one centralized authority not the network
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#5605

  1. Multiple networks have to all agree for something to be true. The consensus of the network enables truth

  2. A central database would determine truth from the data that is stored, which can be manipulated by the owners for their own gain

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#5606

different nodes agree on whats the truth, and reject what not true.
central databases the data can be removed or altered

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