Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5647
  1. Consensus is decided by the blockchain being the distributed ledger.
  2. A central database can be controlled or manipulated by a central player.
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#5648

  1. The truth is decided through consensus in the network.

  2. In a central database one authority decides what is true. Therefore he/she can manipulate the truth.

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#5649

  1. Consensus determines the truth by using incentives for everyone to tell the truth. This is by POW, POS and other methods. This means that all nodes will verify if a transaction can happen. If there is something that looks wrong this transaction will not happen.

  2. This is different because of it being trustless. Central databases can skew the truth while people believe it. Like in the example of where ingredients come from, they can say its all natural but can be completely synthetic.

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#5650

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    All parties in the network must come to consensus or agree on the facts of a new transaction before it can be added to the ledger. This is done by offering a financial incentive for being truthful about the facts of any situation.

  2. How is this different from how truth is determined in a central database?
    In a centralized database truth is only verified by the organization/group that directly precedes the next step in a process not by the whole group involved. In addition, truth is also determined by reputation or a subjective trait opposed to a agreed upon set of facts thats easily verifiable by all.

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#5651

Consensus - Answers

  1. Consensus determines truth by allowing incentivized nodes to collaborate and verify transactions.

  2. Central databases have authorities that can intervene with transactions. Blockchain offers an incredible decentralized database, for all! :star_struck:

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#5652

Homework on Consensus

  1. the truth is decided and agreed on by the collective - not one node verifies the truth but all nodes collectively do to reach a consensus

  2. In a Central Data Base the truth is in the hands of the overlord :smiling_imp:ā€¦. who can be truthful but also can manipulate the data to suit

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#5653

  1. The miners are given incentive by solving the algorithm and verifying the information submitted to the blockchain a Decentralised Network

  2. Where with centralised database required only a few party to make the decision and the decision does not required every party to agree with to proceed.

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#5654
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Consensus determine the truth in a sense that majority of the participant nodes in the
network verify the transactions validity without human intervention. Consensus is trustlessly
reaching an agreement.

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

In central database, a central authority determines the truth, whether it could be wrong or
right. Truth could be tampered by person.

In blockchain, transactions can be verified by the node participant in the blockchain in a trustless
manner. Truth cant be tampered here.

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#5655

Consensus is decentralized and therefore verification is determined by many separate unbiased entities/code.

Traditional data bases rely on human trust and are centralized.

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#5656
  1. What does it mean when we say that in blockchain, consensus determines the truth?

A community of computer nodes using the blockchain technology around the world checks transaction and verifies its authenticity. Each transaction must be approved by all the network nodes, if it detects something amiss it will get rejected. Meaning you cannot lie and only the truth is approved.

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

Central database is controled by a govern authority that can manipulate the truth, database can be altered however they like.

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#5657

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    The idea that consensus determines the truth is that multiple iterations of the database on disparate machines align in agreement on transactions. This is unique to blockchain. The only other situation I can think of is when in the US you have a document notarized and signed by witnessing parties.

  2. How is this different from how truth is determined in a central database?
    In a central database, that database is considered the source of truth. Databases are penetrable and open to user error or corruption by other means. Using consensus, all databases (source of truth) are validating a transaction true or false against multiple data bases (other sources of truth).

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#5658

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    A new data entry is only made true when all / most of the computers on the network has consensus on it. And all the participants are incentivised to tell the truth.

  2. How is this different from how truth is determined in a central database?
    Data entry / deletion doesnā€™t require any verification nor permission nor any supervision. Therefore huge trust is involved during the business of this central database.

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#5659
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Every computer or node in the blockchain network needs to validate a transaction in order for the transaction to be accepted and they are financially incentivized, to tell the truth. So there is a consensus among all nodes.

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

In a central database, there is no consensus. There is only one source of information that canā€™t be validated by other parts.

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#5660
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Answer: it means Blockchain removes the need to trust one third party but instead trust the code and the nodes running it (which anyone including yourself can be part) to perform as intended

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

Answer: central database truth is decided by one entity and even if you do the right thing and the third-party decides you are not fit for whatever reason they deem fit, then you are not

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#5661
  1. What does it mean when we say that in blockchain, consensus determines the truth?
  • Every proponent of the network/blockchain makes a decision collectively saying if something is true or not.
  1. How is this different from how truth is determined in a central database?
  • A claim if something is true or not cannot be determined from only one source but instead verified together by all the proponents of the network
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#5662
  1. Consensus determines truth in blockchain as it is not one or two people in a centralized system making a decision that may or may not be factual, (trustlessness). Rather it is a network of computers reading a ledger making a decision on checks and double checks of mathematical proven facts. Are we in agreement of funds/facts (in the cases of provenance) can the transaction/information be added to the ledger.
  2. It is different form how truth is determined in central databases as determination in a centralized system is not necessarily based on mathematical facts in which all parties must agree, Information may be altered or removed, by one or two people/parties.
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#5663

  1. Consensus determines the truth means thatā€¦ the blockchain is built on a network of distributed individual nodes that work together. It is necessary for a blockchain network to have a method to help ensure all nodes are synchronized and in agreement, and should be added to the blockchain. Proof of work and proof of stake are the most common blockchain consensus types.

  2. A central data bases relies on itself to determine truth, and does not require any verification.

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#5664
  1. Every node in the network should verify that transaction is accurate and that is the truth, mathematically proven.
  2. 1 database = 1 truth, you whatever you want with the truth)
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#5665

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

One of blockchainā€™s distinctive mechanisms is the ability to simultaneously determine the validity of information by multiple sources/nodes in a network. There is no single authority or server which governs the actions of the rest of the network. That means, once information is changed, the sources/nodes in the network will independently determine the validity. Inaccurate data is quickly discovered, noted, and rejected; data unanimously verified as accurate will be added to the blockchain. That is why consensus establishes the truth.

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

Changes made on a decentralized blockchain mean all changes/ decisions were made with multiple nodes involved, therefore double-checking and verifying several times, reducing the chance of errors. This database structure strengthens the integrity of the information on a decentralized blockchain. The reliability of a central database declines significantly, as it is more susceptible to corruption, lost data, errors, or fraud; it requires a considerable level of trust to accept any data given by a central database as truth.

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#5666

  1. Consensus determines the truth using financial incentives, all nodes verify each transaction across the network.

  2. In a centralized database someone might not be truthful and can alter the database, therefore the information given has to be trusted.

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