In blockchain consensus is achieved by having all parties coming to conclusion that the information has been approved and verified and thus be added to the blockchain. This being done by a decentralized network that is being incentivized to do such a thing. “Trustless”.
In a normal database only one entity is being incentivized to store this data correctly and truthfully, if an error is made by mistake or maliciously this data will be flawed. “Trustful’. And also this risk of whole network failure.
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On the blockchain, every transaction made add information to the blockchain. An information is only added, when every node accepts it. The incenctive of the blockchain is the truth. Therefore, if a new transaction is made, it means it is accepted by all and therefore true.
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In a central database the provenance can’t be tracked and traced because it is not public. One has to believe what the suppliers of the database tell.
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- Consensus is the network agreeing on adding transactions or not based on community agreement and verification. The network is incentivized to uphold the integrity of the blockchain. Community decided truth.
- In a centralized database the truth is decided by a central authority. This could potentially lead to data being altered.
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- All the node in the network need to come a consensus to verify the transaction or data hence it’s difficult to cheat the blockchaain.
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Multiple miners/validators interact with each other. Everyone is incentivized to tell the truth. If someone decides that he may gain something more for lying he would have to corrupt 51%+ of the players in the network which would be impossible with true decentralization.
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In centralized database everyone works for somebody. Therefore votes of the players could be manipulated by the one who is in higher position. Centralized databases are not as transparent as blockchain. Therefore manipulation could easily happen behind the scenes.
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The network of nodes and miners check the correctness by communicating with each other so no one can cheat in this process. The incentive of checking correctly will only give rewards.
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There has to be and administrator of the database with different actors who use the data. If someone is adding wrong data, the administrator or other persons need to find this failure and correct it.
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- What does it mean when we say that in blockchain, consensus determine the truth?
This consensus is reached via agreement among the nodes in the system, which makes it really hard to breach, particularly because if information is counterfeit and majority of nodes state the contrary there wont be consensus
- How is this different from how truth is determined in a central database?
In a Central Data base, since it contains replication (usually) on a primary node, once a record is changed here there remaining nodes will cascade the results.
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Consensus determines truth means that by the existence of consensus in the blockchain, truth is always ascertained, all transactions or data recorded are as there has to be a agreement between nodes of the network in the blockchain to confirm and check any transaction or data that goes into the blockchain, verifying transactions and data and all these is achieve through financial incentives, it shows that the blockchain is built on a supply chain, thereby showing decentralization; that every member of the network is responsible for every decision made concerning the blockchain with no central body or authority heading or having control decisions.
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In a central database, because there’s a central body or authority over the data base, there’s control over transactions or data by that centralized body and transactions or data recorded are therefore not trustless, so how true the transactions or data recorded in the blockchain can’t be ascertained, but in the blockchain network(database) through consensus; where every member of the network maintain governance and verification of any transaction or data that would come into the blockchain, showing that the blockchain is decentralized and built on a supply chain. Truth can be ascertained differently from a centralized database.
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1. What does it mean when we say that in blockchain, consensus determines the truth?
In blockchain, information is verified by a whole connected network. We do not need to trust one or several entity, but rather “read” the data that has been approved individually by each single node. If all actors of one process confirm the same information, then this info is considered to be true. There is no incentive for approvers to lie.
2. How is this different from how truth is determined in a central database?
In a central database, the truth doesn’t need to be verified by other parties. Everyone needs to rely on the central organisation telling or showing the truth, with no way to check.
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- What does it mean when we say that in blockchain, consensus determine the truth?
Everybody (all stakeholders of the network) agree on that transaction. - How is this different from how truth is determined in a central database?
In a central database there can be an authority which really controls it. On the blockchain there is an incentive to play by the rules to be rewarded.
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1.- In blockchain consensus determines the truth means that at least 51% of the nodes must validate a transaction to make it happen. So, when 51% or more nodes reach a consensus about some modification, it becomes true in the blockchain.
2.- In a central database truth is determined by the entity that runs that database, so there is no way of verification other than trust in that entity. This is completely opposite to the way a blockchain works, where the database is shared by a number of nodes, and any change must be validated by at least 51% of the nodes before it take effect.
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Homework on Consensus - Questions
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What does it mean when we say that in blockchain, consensus determine the truth?
It means that by having nodes work together to come to an agreement in a decentralised fashion, incentivised individually with a money reward for being honest, we can achieve the truth. -
How is this different from how truth is determined in a central database?
A central database is edited at the will of a centralised authority, behind closed doors.
This makes it hard to trust because:
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It’s not transparent
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It’s centralised and able to be bent to benefit the centralised authority.
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No transaction/record is created unless multiple nodes on the network agree and/or give consent.
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Decentralized and immutable once recorded.
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- What does it mean when we say that in blockchain, consensus determines the truth?
multiple nodes need to verify and give their consent into executing the transaction, therefore, everybody controls the transactions making it almost impossible to cheat - How is this different from how truth is determined in a central database?
a central database already includes in its name that their idea of truth is dependent on the database, therefore, it is not necessarily transparent. There always is information asymmetry
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It means if everyone agrees, it’s considered true.
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It adds the element of peer review.
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All decisions are bring made together by nodes i.e. they all double check information that are persent or not. Everyone are incentive to say if a transaction is true or false
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Information are confirmed directory through the distributor unlike blockchain which goes through the supply chain and the network involved to confirm if the information is true or false.
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1.Because everything on the blockchain has to be verified
2.in a central database, on has to agree
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Homework on Consensus - Questions
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What does it mean when we say that in blockchain, consensus determine the truth?
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How is this different from how truth is determined in a central database?
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In blockchain, consensus determines truth. Consensus is an agreement of the whole network that a transaction is valid, and therefore approved, or not valid, and therefore denied. when all nodes agree that something is true, you have consensus.
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In a central database truth is determined by a single database or person. If there is corruption, truth may not be the truth, and hard the verify.
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What does it mean when we say that in blockchain, consensus determine the truth?
In a blockchain, the majority of nodes need to validate a transaction in order to the same be accepted as true. There’s no central authority playing this roles, it’s a trustless relationship.
How is this different from how truth is determined in a central database?
In this case, a central entity is responsible for validating transactions but there’s no transparency is most cases. In blockchain, since there’s this consensus mechanism with financial incentives, the truth is determined in a much more transparent fashion.
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That means that blockchain nodes have to agree that transaction is valid and once they reach consensus (agree) the block is added to the blockchain.
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It is trust-less mechanism where parties are incentivized to reach consensus and to tell the truth compared to central DB where one party can decide what get’s added to the DB