Homework on Consensus - Questions

Blockchain and Bitcoin 101
#6109

1 - In every transation there are many parts involved. In blockchain we are ensured that the previous part is telling the truth, so there is consensus and therefore the truth is determined.

2 - In a central database the central authority can manipulate data, whether the community agrees or not, so that truth is subjective; in blockchain, because the data can’t be manipulated and 50%+1 of the universe involved in that transaction needs to confirm that part of the data so that the block is created, we are ensured that the data is true

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#6110

A network of independent nodes can check the accuracy of the transactions.
A central database is controlled by a limited size authority. I would need to know I could trust them.

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#6111

  1. Because consensus means that all decisions are made together and double checked. All nodes have to reach consensus and accept a transaction into the blockchain. Therefore the consensus determines the truth.

  2. In a central database the truth is determined by an entity who controls the information in the database. So the entity decides the truth and needs other parties to trust that it is truth.
    In a decentralised network all who participate in this process of reaching consensus are incentivised to be honest with a rewarding system.
    Where as in a central database the entity who controls the truth can only be trusted to be honest.

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#6112
  1. What does it mean when we say that in blockchain, consensus determine the truth? well it means that we are able to see that all parties are agreeing on the same thing and that we are actually getting a valid awnser by having all consecutive parties agreeing on the same decision witch leads you to getting the truth because there is no mix match between parties its an agreement that is united.
  2. How is this different from how truth is determined in a central database? well having truth in the central database is is basically a truth based central database and the fact that this isnt well it makes it trustless and decentralised no authority over the site whilst a database is centralised and can intervene when ever theyd like
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#6113

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    A. Because it is a system where the decision making happens with everyone’s participation. It’s democracy on steroids.

  2. How is this different from how truth is determined in a central database?
    A. In a central database, absolute control is given to the central authority. Additionally, the transactions in a central database isn’t open to anyone but the central authority.

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#6114

Consensus-

  1. Transactions are verified by multiple party’s in a trustless manner.

  2. Central databases require trust and can’t always be verified.

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#6115
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Without consensus provenance would not be possible. Consensus is built on incentives for the decentralized network to verify any new transactions using the blockchain and removes the need for trust.
  2. How is this different from how truth is determined in a central database?
    Centralized database authorities determine what they share to be true on their database. Even with a 3rd party to verify information, there is still a need for trust. Decentralized blockchain networks allow for all network participants to view and verify any new data entries before they are accepted as truth and removes the need for trust.
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#6116

  1. It’s basically a chain of financially incentivized agreements.

  2. A central database can be financially controlled, but the big differentiator is that it’s missing the agreements. And therefore cannot be trustless.

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#6117
  1. What does it mean when we say that in blockchain, consensus determine the truth?

It means every transaction put into the blockchain is verified by a network of computers through a public ledger to determine if its true vs untrue.

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

Central database truth is determined by one centralized data base, controlled and manipulated, while Blockchain is determined by a network of computers that agree if transaction is true vs untrue.

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#6118

[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?
    The network is incentivised to record the truth for financial gain. The members of the network must accept a transaction a legimate to record it on the blockchain.

  2. How is this different from how truth is determined in a central database?
    Trustless group consensus to accept transaction - verified, a central datat base can edit and it is based on simple trust.

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#6119

  1. Consensus determines the truth in Blockchain by several parties reaching and verifying decisions.

  2. It’s different because everyone involved has a financial incentive to be “honest”.

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#6120
  1. Consensus determines the truth because the computers must achieve consensus, being on the same page. With the opportunity to receive incentives, they can make money by being honest, and everyone wants to make money.
  2. I’m not sure how it works in a central database, but I imagine that there is a governing body that makes all the decisions. They probably decide what is true or not.
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#6121

  1. all computers ( network) must agree on what is true and what is not true .
    Provenance cannot work without consensus

  2. There is a central authority that decides what is true .

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#6122
  1. because we have a whole network of people/organisations that are all incentivised to tell the truth, the majority will determine what is the truth. So the consensus determines the truth.
  2. in a central database, it is the owner of the database that determines what the truth is (to some extent)
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#6123

Homework on Consensus - Questions

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

A// When we say that consensus determine the truth in blockchain we are meaning to a process in which every or many computer in the network verify the information of the transaction so they all together agree if they add the information to the blockchain or not.

  1. How is this different from how truth is determined in a central database?
    A// This is different because in a normal database you can get benefits by modifying the information and maybe accept what do the best for you also if youre going against rules instead in blockchain and with consensus the process has to go through a verification process before adding the information and if you go against the rules what you will receive is loss of money.
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#6124

  1. Consensus, in blockchain, determines the truth by reaching a clear decision before proceeding with a transaction.

  2. Truth is determined in a central database by the use of incentives.

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#6125
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Consensus determines the truth because it follows the mathematical logic of the blockchain itself, where all nodes have to agree on a transaction and validate it in order for it to take place and proccess it to add it as a block.

  1. How is this different from how truth is determined in a central database?
    As the name infers, it’s “centralized”, so a central authorization or power can decide based on subjective criteria if the transaction can be approved or not, therefore manipulating the outcome potentially based on self preferences.
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#6126

1.Truth is agreed upon and decided collectively by the people.
2. In a central database there is a central authority that decides the truth.

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#6127

  1. Though consensus all of the computers agree that the decisions made on the blockchain network have been made and verified collectively and this is ensured through financial incentives. Thus creating a trustless confirmation that the data which exists on the network is accurate and true.

  2. There is no proof that the data hasn’t been manipulated or falsely entered onto the network, i.e. no verification in a trustless manner.

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#6128

  1. In blockchain, when we say consensus determines the truth, it means that verification is done by individual parties and no single party can defraud the system by lies or cheating. The decentralized model ensures that all parties are being truthful. Consensus is built on financial incentives, which cause all parties to be honest and play by the rules.

  2. In a central database, truth is determined by a single entity or individual, which makes verification difficult. Dishonesty takes time to detect, and financial harm would have been done by then to other parties.

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