Homework on Consensus - Questions

Blockchain and Bitcoin 101
#5969

  1. In a consensus process, truth is defined by multiple participating entities that comes to agreement over what is legit.

  2. Compared to truth determined in a central database, this gives initiative to network participants to be part of the process.

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#5970
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means we remove the trust by using incentives; network that verifies the transactions.
  2. How is this different from how truth is determined in a central database?
    Vey different because the transaction are verified by the system using algorithm.
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#5971

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus determines truth because no one person can approve something. It takes the network being in agreement to verify the entry.

  2. How is this different from how truth is determined in a central database?
    A central database has a single authority that maintains the database. That allows that authority to makes entries or edits that aren’t always accurate.

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#5972

  1. New information (transactions) can only be added to the blockchain if they are verified by multiple nodes/miners, who are financially incentivised to only validate the truth.

  2. In a central database, information is validated by a single party, which can decide what is true, and that single party can be biased or ill intentioned.

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#5973
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Blockchain consensus means that all nodes need to verify and approve transaction to proceed it. Otherwise, if they don’t get the consensus transaction will not be approved.
  2. How is this different from how truth is determined in a central database?
    It’s fully trustless , independent nodes need to get consensus to verify and improve the transactions.
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#5974
  1. I means that different nodes have to agree on a transaction to put on the ledger if its not agreed on then the transaction is discarded therefore transactions are only go through if there a mutual consensus building a network of trust.
  2. Central databases are controlled by a central authority which has access to and can alter data making it more difficult to trust a central database.
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#5975

  1. consensus determines the truth by every individual node coming to a agreement if the proposed transaction is legitimate or not. through financial incentive that causes there to be honesty from the nodes it disables cheating the system.

  2. On a central data base you do not need to come to a general consensus since there is only one verifier. the owner of the database

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#5976

This is because a transaction is only accepted on the network when the blockchain provides the correct consensus.

In a centralized database, different decision makers may produce different results.

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#5977
  1. blockchain determines what’s true by verifying not trust
  2. central database has to rely on trust not verification
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#5978
  1. In a verification process of a transaction, because the other computers on a network have to agree that some transaction has actually happened or it will fail verification. Kind of like an accrediting body (e.g. central governments, Universities, banks,) to confirm the veracity of a transaction/degree/certification/law/ etc has been an achieved, the accrediting body in the case of blockchain technology is the decentralized network of computers itself that share the public ledger that have to agree rather than a centralized body we have to “trust’. And this consensus to tell the truth is done by incentivize the telling of truth by ‘paying’ the verifier.
  2. Consensus is where everyone has to agree as opposed to one authority verifying a transaction, etc. Any one in control of the centralized ledger can make changes that are advantageous to them. Because they hold the ledger or ‘right’ to verify, this can lead to cheating for their own benefit, or the benefit of their partners rather than everyone.
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#5979
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Consensus determines truth is a reference to the concept that all participating nodes performing the ‘work’ must be in agreement that a proposed transaction is accurate. The workers have incentive to deliver ‘truthful’ responses. I believe the idea is that if one worker discovered an inaccurate transaction, the other workers would reach the same conclusion.

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

This is worlds apart different than traditional database structure, which use permission based user accounts. Users with the highest authority have the ability to manipulate otherwise accurate data, update or delete or rollback transactions. “Truth” is determined by admins or users with proper permissions – which are, as far as I know, always human.

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#5980

Blockchain consensus determine the truth, because of its verifications of transactions based on the decentralized ledgers, which also can be traced back. So there can’t be any room for cheating and falsehoods as far is I know of.

The problem with central databases is that the public often don’t have premission on the data, which makes you to have to trust de owner of the centralized database, on top of that the technology used is not blockchain which means that the owners can manipulate data, so truths are mixed up with lies.

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#5981

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    Consensus is the agreement of the network of what is the truth, therefore it is what is going to be written in the blockchain

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

In a central database the administrator is allow to change values and you have to trust the third party managing the data base. In blockchain is an agreement between the network based in mathematical rules that are implemented

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#5982
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    The truth is always in blockchain because the sistem is decentralized and really diversified, and everyone is incentivized to be honest and validate truthfull transactions. It would be almost impossible to get enough validators to lie and approve a invalid transaction.

2- How is this different from how truth is determined in a central database?
In a central database, the key diversification of validators seeking the truth is not there, instead a central figure has it’s own incentive to take actions benefiting only himself, in that way the public should always be skeptical of the consclusions that come from a centralized database, because there’s no incentive to seek the general welfare, no consensus or comunity to grow and protect.

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#5983

  1. We say that because anything consensus based requires input from various parties, and in blockchain, such parties are incentivized to be honest and truthful as being dishonest has bad financial consequences.

  2. its different in the sense that a central database is controlled by a centralized authority or in some cases1 person, such truth can be manipulated or be false as it protects only the interest of the said central authority

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#5984

  1. Because of the decentralization in crypto, it makes it easier to verify the truth based on consensus rather than trust. The consensus comes from each node being incentivized to be honest and verify the correct transaction over the false one. All the nodes are encouraged to follow the rules, thus establishing the consensus needed to determine the truth based on trustlessness.

  2. This is different from a central database because the latter relies on a single authority to verify the validity of transactions when relying on a single entity makes the truth susceptible to any flaws that single authority may have overlooked within itself, unlike decentralization where there will be other nodes to favor the correct blockchain over the rest.

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#5985
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Centralised system - we trust the company, organisation, authority, government etc.
Decentralised system - everything can be verified, so no need to trust.

Therefore consensus is the truth, it takes away the factor of trust and the system determines the truth that is agreed by the network.

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

With a central database the truth is determined by the owner of the data. It cannot be verified so we need to trust it.

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#5986

1.In blockchain consensus determines truth because the network determines what transactions should go into the next block based on the vote of all the nodes.

  1. In a centralized database there is only one source of truth and that source is dependent only on the quality of the entity making the decision.
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#5987

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    In blockchain, there is of vie no trust, we speak instead of checking, verification. Consensus determines the verification, thanks to the majority of actors (nodes) having the same point of view on a question.

  2. How is this different from how truth is determined in a central database?
    In DB, we have to trust on data that is inserted, updated, and…temptered maybe… We have to trust data in the DB without the capability to verify it. In DB, all is question of verification, not trust.

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#5988

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

Database that stores transactions on ledger, all nodes must agree, financial incentive to be honest,

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

Central database is subject to human error, data corruption, dishonest users, no transparency

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