Homework on Consensus - Questions

Blockchain and Bitcoin 101
#6129

1. What does it mean when we say that in blockchain, consensus determine the truth?
a transaction can only be recorded if a certain amount of nodes agreed to record it.
then, that transaction is approved to stored in the public ledger (blockchain) and everyone will have the same copy of record. it is imperative to mention that each ledger play with the same rule; and incentives to provide honest data.
then the truth is there by ‘verifying’ the records whenever it’s needed. that’s why blockchain is a trust-less verifiable realtime bookkeeping

2. How is this different from how truth is determined in a central database?
A central database has to be maintain; one responsible for the admin of the server; and other(s) for the seeding of the data. You have to trust those entities to make sure the data is maintain and uploaded correctly where auditions have to be done by 3rd party becoming a lot of middle-man activities and costly.

1 Like
#6130

  1. Consensus determines the truth because it is verified by not only one, but by many at the same time. In order to have a successful transaction, each computer would have to verify everything that you need in order for that transaction to work and will only work if every computer returns with a successful verification.

  2. Truth in a central database comes from only a single main network. If a data is changed or altered in any way, the data would not be able to confirm if there is something wrong because it has a central network. Unlike blockchain that has multiple networks to check, if something goes wrong in a central database, it is hard to verify without trusting the people in charge of that database.

1 Like
#6131
  1. Collective agreement on truth.
  2. Decentralized vs centralized veritas.
#6132
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    For something to be added to the blockchain, it needs to be verified by multiple computers/nodes. Decentralized. The Blockchain can’t be edited, so the info added has to be facts/truth. No opinions

2.How is this different from how truth is determined in a central database.
Central databases are verified by a central source. If that source is subjective in anyway, it will not be the truth. Central sources tend to be biased in some way, manipulating the information to benefit themselves

1 Like
#6133

  1. Consensus is the idea that all of the nodes in the network agree on a transaction. Because all of the other computers have to be in agreement with the transaction there is no way to cheat the system.

  2. Truth in a central database is determined by that central database. This does not provide verification.

1 Like
#6134

  1. Consensus in blockchain determines truth by having the nodes (which are incentivized via a form a reward) on the relative blockchain agree on whether or not a specific transaction on the network is valid before adding it to the blockchain, making this system of verification trustless and decentralized.

  2. There is no consensus via trustless network on a centralized database, so the truth will be whatever the administrators of that database determine it to be.

1 Like
#6135

1.It means that something is true only if the majority of other ledgers agree that something is true If the majority of ledgers don’t agree that something is viable(true) then the input gets ignored.

2.It is different from a central database because in a central database there is no vote or public ledgers, only a third party which decides if something is true or not.

1 Like
#6136

  1. Blockchain consensus determines the truth because it allows and incentivizes a group of parties to agree or decide on something.

  2. This different from how truth is determined in a central database because blockchain consensus is verifiable and there is no real way to easily verify a centralizes database.

1 Like
#6137

  1. What does it mean when we say that in blockchain, consensus determines the truth?
    The decentralized data points agrees with the agreement of transactions with the trutless mechanisms.

  2. How is this different from how truth is determined in a central database?
    Decentralization through consensus and incentive

1 Like
#6138

  1. Consensus determines the truth in blockchain because there are monetary incentives or rewards to verifying a transaction to be true. There is no way to cheat this system because there are many nodes involved in the final decision.

  2. You can’t even compare this model to that of a central database because there is no trustlessness involved. Any person or organization can mislead, lie, or cover up certain things they want to because it is not written in “stone” and distributed on a public ledger for all to see and verify.

1 Like
#6139

  1. For a transaction to be registered in the blockchains most of participants need to agree that transaction is the truth.

  2. In a central database there will always exist a decision maker, being a single person or a small group. In decentralized blockchains we may need agreement of millions of participants to achieve consensus.

1 Like
#6140

  1. truth is determined by incentivising the participants of the blockchain with finances to be honest

  2. in a central database there is no incentive to be honest, sometimes being dishonest makes more of a profit then being honest.

1 Like
#6141

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

    Multiple parties need to verify the legitimacy of the block before minting it. This action is incentivized.

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

    Truth in a central database id determined by the integrity of the company or individual that is adding the data.

1 Like
#6142
  1. What does it mean when we say that in blockchain, consensus determine the truth? Everyone in the network agrees the transaction and are incentivised to do so.
  2. How is this different from how truth is determined in a central database? The database is decentralised and does not rely on any 1 counterparty to verify a transaction.
1 Like
#6143

  1. In blockchain everyone are in the same network so to put in new transaction in blockchain network everyone should be consensus that transaction are legitime and trustles.

  2. In central database can not tell 100% product consistence, and it is possible to cheat someting.

1 Like
#6144
  1. You can not cheat and earn incentives at the same time
  2. In blockchain transactions are validated by voting
1 Like
#6145
  1. the entire network can verify the data

2.it relies only on its own data

1 Like
#6146

1.The truth has been decided by more than one person.
2. In a central data base there’s a central authority that decides the truth.

1 Like
#6147

  1. Consensus removes the need for trust between agents in a network, through incentivising such agents to disclose the truth (i.e. dis-incentivising agents from being dishonest)

  2. In a central database, truth relies on the hearsay of the centralised structure itself. Because this information cannot be verified, it has to be trusted by correspondent agents who interact with this central structure.

1 Like
#6148
  1. What does it mean when we say that in blockchain, consensus determine the truth?
  • community driven agreement of a true block, which is financially incentivized for the community to regulate errors or misuse.
  1. How is this different from how truth is determined in a central database?
  • central or individually regulated information store, which anyone using needs to trust the administrator of the database. Truth is determined by the owner of the database
1 Like