Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5627
  1. In blockchain, the watch word when it comes to trusting, is Trustless. So, because all the nodes in the network will have to independently verify ever transaction and agree before it is confirmed, truth is determined in a trustless manner. That is Consensus.
  2. In a central database, it is the central authority that determines what it releases as truth, while in a decentralized database, it is independent nodes/miners that determine the truth which makes it more reliable and dependable.
1 Like
#5628

Homework on Consensus - Questions

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

*It means that, that particular data was verified true by everyone in the network working independently from each other.

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

*Central database are verified by a human being who oversees the whole transactions and is prone to corruption.

1 Like
#5629

In the blockchain, the majority decide what is true and what not. If everyone agrees to a transaction, this will be add to the blockchain, because they reach consensus on this transaction. If on the other hand, one party agrees to a transaction an all the others don´t valid it, this transaction won´t be added.

In a central database, the owner on the database says, what is true and what not. Other parties don´t have any rights, except to accept it or to leave the database. Even if the database is manipulated.

1 Like
#5630
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    consensus determines the truth in that before a transaction is added to the blockchain all other computer in the network have to confirm it before it gets added to the network. To ensure that all the computers talk to each other and up hold the truth they get some financial incentive.
  2. How is this different from how truth is determined in a central database?
    In a central database you have one authority which controls the database once he validates a transaction its committed to the database. it does not require a consensus.
1 Like
#5631
  1. Consensus determines the truth when we are truthful about our business we are making money, we have no choice but to be truthful if we want to make a profit.
  2. the difference in a central database is that there are people who govern the database sets its rules and can adapt those rules to fit their own individual needs. rules can be bent to make a profit for anyone there is no real truthfulness in a centralized database.
1 Like
#5632

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus determine the truth because the network of the blockchain will verify that event and accepted if it is only true, other wise this event will not be verified or accepted in the blockchain by these network or nodes.

  2. How is this different from how truth is determined in a central database?
    in central database there is nothing needs to be verified so we can not guarantee that what they say is the truth.

1 Like
#5633

1.) The “claim” is verified by the majority of miners and basically all the full nodes. That means that no single party has to be trusted for verification.
2.) In a central database, “truth” gets determined by the party, who feeds the database with data.

1 Like
#5634
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Ans :
  • Blockchain’s consensus are trust-less and auto decision making. It can’t be edit/delete
  • So the Consensus plays the main role in the blockchain
  1. How is this different from how truth is determined in a central database?
    Ans :
  • In the central database the agreement held by third party / help of middle man to operate.
  • If the middle man try to change or any false activity it create big problem
1 Like
#5635
  1. What does it mean when we say that in blockchain, consensus determine the truth? : In BlockChain all transactions are verified by a decentralized network of computers and these computers can confirm the authenticity and correctness of a transaction across a network of inputs and outputs.
  2. How is this different from how truth is determined in a central database? : In a central database one party or maybe the party and its auditor have power over verifying a transaction or transactions. So the level of trust is limited to the behavioral drivers of the parties, corporate policies or internal strategies to manage public perceptions. In a decentralized database this verification happens by many unrelated nodes that test the data against the public ledger of the transactional flow within the network and enter the different transactions into the BlockChain.
1 Like
#5636

  1. All nodes in the network has to agree and accept transactions to be able to put them on the blockchain. Nobody, out of self interest can influence the content of a block because everyone has to reach a consensus to be able to make a change.

  2. You basically just have to take the authorities word for it. Because a central database mostly isn’t open source people cant see if something has changed or not. That’s why we don’t trust and verify!!!

1 Like
#5637

  1. It is the agreement based on verification and not just information they are giving us. Consensus removes trust.

  2. A central database tells us what the truth is, but nobody knows if we get the right information.

1 Like
#5638

Homework on Consensus - Questions

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

It means that the truth must be agreed on with all the Nodes to be accepted.

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

In a central database the truth is decided upon by the organization behind the database, it can easily be changed.

1 Like
#5639

1.) Each node has all the transactions of the blockchain and each node needs to agree that the current transaction being determined is legitimate or should be ignored. Similarly in a supply chain knowing the origin of the product and having all distributors and suppliers agree that all statements are true and correct holds consensus.

2.) On a centralized database all information is typically created and manipulated by the individual or business. Also, most centralized databases do not speak to each other and there is no way to verify whether the individual’s claims are true and accurate.

1 Like
#5640

  1. It means that we do not need to trust anybody because we are using a system where different components of the network are checking that a fact is true, incentivated by “money”.

  2. The truth is owned by the owner of the database because it is its database and can modify it at will.

1 Like
#5641

  1. Consensus determines truth in blockchain means that the parts involved in the process verifies the information on the ledger and if all sides agree that its valid then it goes through.

  2. In a public blockchain the audit is done automatic by computers & mathematical equations while in a central database you need a audit that involves trust and that can be misleading.

1 Like
#5642

In blockchain ,when we say consensus determines the truth , we mean that all the other participants that validates the transctions dertermine if it is true or not, so all the other nodes dertermine the truth because they can track back the goods to their origin by transaction for example that is visible on the blockchain.
In a centralized database ,one entity or person determines the truth , and thats how it is and can not always be checked because they own the database and it is private, so then you have to believe their words.

1 Like
#5643
  1. Consensus is an action whereby everyone in the chain network communicates with each other so it is very difficult to cheat in Blockchain.

There is no free lunch in this world whereby why should everyone play by the rules when nothing actually benefits them. Therefore, in blockchain, consensus works by giving incentive for being honest and everyone love moneys. So, they will be honest to gain the incentive.

  1. In a central database, all the information is controlled and determine by the so-called authority person. Therefore, if that person that have the authority to give information is being dishonest, then the information given will be fake.
1 Like
#5644

1 - all nodes work collaboratively to reaffirm a transaction allowing different parties to behave in a trustiness manner

2 - it’s trustless and decentralized, no authority over site whilst a database is centralized and an authority can intervene

1 Like
#5645
  1. In blockchain, consensus determines the truth because it is trustless, which means transactions can be verified by all interested parties.
  2. In a central database, a central government would have to be trusted and usually there isn’t a way for the public to verify transactions with their own eyes. They would have to trust the centralized source.
1 Like
#5646
  1. Blockchain consensus relies on copies of the ledger agreeing with each other. If one copy of the ledger were to show a different account it would be considered invalid by other copies of the ledger.
  2. A central database only has one copy. Truth would be determined by whatever the database contained. There would be no way to validate the information other that to trust whoever has access to the database.
1 Like