Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5868

  1. consensus determines the truth in blockchain means that each and every transactions is determined by a group of mathematically proven data by numerous group of computers to be true.

  2. in a central database one body can decide to cheat, lie and change data of the database because its been controlled by a central body, but this is practically impossible in a blockchain database.

1 Like
#5869

  1. In blockchain, consensus determines the truth because every decentralized node is financially incentivized to be honest in verifying the transactions making it completely trustless.

  2. In a central database the truth is determined by a singular checkpoint that is financially incentivized to maximize its bottom line whether it is honest or not making it completely “trustful”.

1 Like
#5870
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    All different nodes need to come to an agreement wether the data is accepted or not. All desicions are beint made together, double checked.
    Ledger is checked, if all nodes come to an agreement it is added tot he blockchain
  2. How is this different from how truth is determined in a central database?
    One centralized party decides about the truth, no one else has a say in it.
1 Like
#5871

  1. Because network participants must all agree on a blockchain’s history, it is the consensus of the network as a whole that determines the truth of any claims made about that transaction history.

  2. In a centralized database, one copy of the database serves as the “source of truth” and anyone with the ability to modify the database determines its truth by fiat. No consensus is required to verify the value of an entry in a centralized database.

1 Like
#5872
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Since there are multiple nodes in the network verifying each transaction, and since also each transaction is mathematically hashed, and the nodes are incentivized to operate honestly, when a sufficient number of nodes agree on a common outcome of a transaction, it’s deemed to be truth.
  2. How is this different from how truth is determined in a central database?
    In a central database, data is available and processed at one source, one location. A malicious event on that one location will break the integrity of the whole thing. A malicious event on one node in a decentralized network will only mark that node as ‘mistrustful’. Further actions can take place to fix that node however other nodes providing the correct answer will reach consensus together.
1 Like
#5873

1.It determines the trutz because we have a supply chain. Better definition is supply network. Everything and everybody is connected with each other. All members have to tell the truth and follow the rules. If not the members are not getting incentivized with money and cant be member anymore of the network and the game. Because everybody want to earn money, all parties have a big incentive to follow the rules.

  1. In a central database one party can cheating the system. Nobody can really control it. We only can trust. Somebody can lie to us.
1 Like
#5874
  1. Consensus in blockchain, is about agreement inside the chain or group of a computer that has a copy of the data, it means all the computer inside the chain must have an agreement to process the transaction succesfully.
  2. This is different from the central database, since central database, can be modified without the agreement of other computer within the network, thus only one computer has the main copy, unlike in blockchain all computer within the network has the exact copy of the data.
1 Like
#5875

  1. Blockchain are often decentralized and have different parties that validating transaction. So different computers communicating with each other and validating transactions. We can verify transaction by checking the whole network.

  2. In central database is often one entity that deciding what is truth and what is not

1 Like
#5876
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    It removes the “Trust” between parties, consensus promotes “Trustless” model in which every thing needs to be agreed, validated and verified by all participating parties.
  2. How is this different from how truth is determined in a central database?
    Central database is controlled by a party or a group of parties. Other parties which do not control the central database need to set up “Trust” relationship with those parties.
1 Like
#5877

1- Nodes of network are rewarded for being truthful. So the transaction will only be approved only when multiple people agree on it.

2- No public ledger, data is not immutable, people with access can always go back and edit/change the entries in the database

1 Like
#5878
  1. all the computers in the network have a copy of the blockchain so they all need to decide om what is true or not by consensus
  2. in a central database decisions are taken by an authority based on trust
1 Like
#5879

[quote=“ivan, post:1, topic:8425, full:true”]
Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth? All nodes on the network have to agree in order for it to be true.
  2. How is this different from how truth is determined in a central database?
    All decisions are being made together versus a central decision making system.
1 Like
#5880

  1. It means all the parties in the network all have to agree and validate every transaction. So decisions are not made by a central authority

  2. It is different because, in a central database, a central authority make all the decisions, and they can be wrong because of error or fraudulent intentions.

1 Like
#5881
  1. What does it mean when we say that in blockchain, consensus determine the truth?
  • With consensus we have decentralization, because there are several parties/ nodes involved to come to an agreement. All decisions are being double checked and made together. All the nodes in the network are incentivized to tell the truth. they’re getting money by telling the truth. Like this we create a trustless system.
  1. How is this different from how truth is determined in a central database?
  • The truth in a central database is determined by one single party that has decided something what’s in their benefits.
1 Like
#5882
  1. It means in blockchain if you cant verify it, it is not true.
  2. For blockchain the consensus is inserted in code of the blockchain for a centralized database it can easily be changed by the person in control.
1 Like
#5883

Homework on Consensus - Questions

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

It simply means that truth is determined by the majority of computers/nodes agreeing on one decision.

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

Truth in a centralized database is only determined by hearsay.

1 Like
#5884
  1. Consensus determines the truth means that the majority of people participating in a decentralized network agree on a decision, this becomes the truth written in to the blockchain.
  2. In a central database the the truth is determined by the decision of the people/parties who control the database. This leads this system open to corruption and manipulation of data.
1 Like
#5885

What does it mean when we say that in blockchain, consensus determine the truth?
It means consensus need to be verify and meet the agrement at present time from each computers on network before adding it to the digital database (blockchain)

How is this different from how truth is determined in a central database?
The central database can be manipulate the data by any point of time by somebody who have authority not like consensus that need all network to verify data adding before store on blockchain.
So, you cannot confident on the information from central database is truth at the present time.

1 Like
#5886
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means that the consensus mechanism makes sure that new added transactions are legitimate and are following the rules of the network.
  2. How is this different from how truth is determined in a central database?
    A central database is centralised so the truth of the database is in the hands of the entity that owns the data. That entity itself or owner can manage, edit, delete, add, manipulate the data amongst other things.
1 Like
#5887

Homework on Consensus - Answers:

  1. It means the blockchain members agreed that the truth is determined by this blockchain members majority.
  2. In a central database the truth is determined by database owner/author.
1 Like