Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5828

1. What does it mean when we say that in blockchain, consensus determine the truth?
When we say that in blockchain, consensus determine the truth, it means that since there are multiple people all over the world who can examine claims and transactions, it will only be determined to be true if everyone can agree (come to a consensus) that everything looks good.

2. How is this different from how truth is determined in a central database?
This is different from how truth is determined in a central database because in a central database, the information is not available for anyone who wants to take a look and verify information. There is a lot of privacy and trust involved with this method.

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#5829
  1. the network of computers verifies if transaction is true. thus, cheating is highly unlikely.
  2. central database, is just that: central and what it says goes. however, when one has a network, the entire network need to very and agree before it becomes true.
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#5830

  1. Every chain need to be united/ unanimous about the transaction/ decision. If not the transaction canā€™t go through. So consensus means truth.

  2. In a centralized environment thereā€™s no consensus needed. There are just a few people or goverment that will determine what is the truth.

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#5831
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Means that when all validators agree on something it becomes the accepted truth in the whole system and it doesnā€™t require trust from anybody because it was already checked and verified by the different validators.

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

This differs from a central database in the sense that anybody can alter the data at their will and then it requires trust that they information is correct from the different parties interested in the data stored in the central database.

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#5832

1. What does it mean when we say that in blockchain, consensus determine the truth?
Consensus is when all of the validators in the network agree. This is done through verifying publicly available information. And consensus is incentivized to find the truth rather than verify bad data.

2. How is this different from how truth is determined in a central database?
Wtih centralized databases truth is determined by authority. One party/system gets to claim ultimate authority. And the authority can change the rules at any time. It is difficult to verify all transactions

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#5833
  1. The consensus mechanism works to make sure that added transactions are legitimate and follow the rules of the network.
  2. It is different because in a central database the owner of the data can manage, edit, delete, manipulate the data, therefore the truth is in the hands of the owner.
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#5834

What does it mean when we say that in blockchain, consensus determines the truth?
It means that all the nodes in the network incentive toward verifying and affirm the right transaction

How is this different from how truth is determined in a central database?
Because a central database might has own agenda so there is always a doubt of telling the truth

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#5835

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All computers need to agree before a transaction gets need to block.

  2. How is this different from how truth is determined in a central database?
    Central database can be modified and only can be viewed by a small group of people (they have access to your data which might be use for other purposes. )

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#5836

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Consensus in blockchain is multiple parties agreeing on what is true, through incentives. 1000s of computer verifying that a new entry/action is valid, and agreeing on it, incentivized by value.

  2. How is this different from how truth is determined in a central database?
    In a central database, truth is determined by the central authority. Whoever owns the database, is ā€œgodā€. In blockchain, everyone has a copy of the database and everyone is continuously verifying with everyone else that the are aligned, and that new entries are valid. There is no god.

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#5837
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    All nodes have to verify the transaction. If itā€™s not a valid transaction it will be stopped.
  2. How is this different from how truth is determined in a central database?
    The truth in a central database in centralized. By consensus itā€™s decentralized.
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#5838
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All nodes in the blockchain are working together to verify all incoming data. If the information is not true, its not submitted to the blockchain.
  2. How is this different from how truth is determined in a central database? in the blockchain we have several parties agreeing that the transaction is true thus making it unfisable to corrupt the truth.
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#5839

1.consensus is the agreement of the network.
2.A central database can be altered by a single person or have an input if someone wants and may not be truth.

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#5840
  1. More than being a mere ā€œpopular voteā€, consensus has multiple confirmations that a something claimed to be true is actually verified to be true.
  2. With a Centralized DB, there is blind trust involved in many steps of the process. In blockchain there is confirmation, verification, and cross-confirmation.
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#5841

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    A: Multiple sources verify the inputs, and this agreement across multiple sources confirms validity of the data.
  2. How is this different from how truth is determined in a central database?
    A: Instead of one governing entity with authority to decide what is true or false, many decentralized users are verifying transactions to determine what is true by attaining consensus between multiple parties/sources.
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#5842

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    The truth is determined by all nodes participating, consensus is reached when they all verify and agree on the truth.

  2. How is this different from how truth is determined in a central database?
    In a centralized database the truth is determined by the owner or central authority, that can make it corrupt.

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#5843

1.In blockchain multiple computers or nodes reach consensus to determine what is true and what is not.

2.In a central database the truth is determined based on trust and by a single authority not a network.

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#5844

  1. Consensus is the process through which transactions are verified. It requires several nodes on the network to confirm a that - based on their copy of the blockchain - a particular transaction is possible/ accurate.

  2. Itā€™s different from centralized databases because it is trustless. Trustlessness meaning there is no individual that you have to put your trust in, to verify truth - which is the case for centralized databases. The system is created to provide truth through incentives and disincentives for each node.

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#5845

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All participants in the network have to decide together if a transactions makes sense, consensus is achieved if all agree. Only then will the transactions be added to the blockchain.

  2. How is this different from how truth is determined in a central database?
    In a centralized database people in power decide wether something is true or not. You have no other chance than trusting them and you cannot verify yourself.

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#5846

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Network participants have to all have an agreement that a transaction is viable and valid. At this point the transaction can be included on the blockchain.

  2. How is this different from how truth is determined in a central database?
    One can only rely on people to determine the viability of a central database, making it not trustworthy.

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#5847

  1. In blockchain, using consensus to determine the truth means that there are numerous verifying entities for a transaction. Trust is taken out of the equation here by being able to verify information supported by multiple sources or nodes.

  2. This is different form a central database in that a central entity is the sole owner of truth, thus requiring one to have trust in the information by central authority.

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