Homework on Consensus - Questions

Blockchain and Bitcoin 101
#703

  1. All nodes have to agree with each other, as questions can asked from any point in the network to any other. This produces an incentive for the majority not to lie about any data.

  2. A database requires trust from one centralised point and can not be verified across the entire network.

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#704

  1. Through incentivization, consensus is able to determine ā€œtruthā€. Every node on the network will cross verify data between all other nodes, making it extremely difficult, if not impossible, to cheat the system. Nodes are incentivized through proper governance via mining.

  2. Truth in a central database largely depends on trust. Any information that cannot be verified must be taken at faith. Since the information on a central database is controlled by specific entities, it is difficult to verify any claims made.

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#705

  1. Blockchain consensus determines the truth because it is based on an incentivized collective agreement of verification in all transactions.

  2. In a central database, truth is difficult to verify because that central database can manipulate, omit or produce disinformation.

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#706

1- It means that is the collective or network of nodes who decide on the true state of the blockchain, it is in the agreement of the different parts what determines the final outcome (consesus).

2- In a central database, as the name indicates, the source of truth is a central authority, which then communicates this truth to other participants in the network. Is the one decides for the many that rules every aspect of our world, until now.

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#707
  1. Consensus establishes a trustless & decentralized application to verify information.
  2. It verifies if the information in the central database is true or not
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#708
  1. By a network of computers (nodes) than have to agree on whatā€™s true and whatā€™s not true. With having a copy af the blockchain database. They all have to agree if transactions are valid or not (CONSENSUS). If accepted then its installed in the blockchain on the network.
    2)With consensus its knows that several parties were involved also know itā€™s desentralization itā€™s no one single party decided things.
    Consensus its all about trustlessness
    Central databases are single entities who determine whats true or not. Can trust or not with no consensus
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#709

  1. When the information contained within the blockchain is shared between one computer, or ā€œnodeā€ and anotherā€¦ if the node discovers an exact copy of the blockchain being shared and agreed upon between other nodes, we have consensus.

  2. In a central database, the information is collected at many different places then sent to management. The information is sorted by owners and directors and safeguarded from the employees and public. Truth in a centralized database is determined by the upper echelon who decide what gets counted, what gets altered, and what gets concealed. In some cases, they also choose what doesnā€™t get counted. This type of database differs from a decentralized one which determines consensus by means of network-serving nodes and blockchain.

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#710

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means that being trustless with protocols ensures that consensus is functioning. The truth is always relative however with consensus if is a universal accepted trustless function that creates one verified truth for all.

  2. How is this different from how truth is determined in a central database? Central dbā€™s: Truth is relative to changes due to many opinions on how things are run, theft, and multiple different systems running on different platforms or legacy systems that do not talk nice to each other. This causes a lack of consensus.

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#711

Consensus is all the computers on the network agree that something is true. If the ledgers match then the transactions are true.

On a centralized database the central authority determines what is true.

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#712

  1. All computers in the network must agree (have consensus) that the block transactions are valid, and this then becomes the truth.

  2. Central databases rely on trust in the centralized entity that manages the database to determine if recorded transactions are are correct and valid.

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#713

Consensus = The network( open Source) all share the same copy of the chain= trustless ness=financial incentives as motivation.

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

Data base= Centralised = verification on one part and not a (open Source) Network= possible Manupilation.

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#714

[/quote]

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

There is an applicable incentives system to push people (ex miners) to verify information and confirm data that has been added to the BC.
This consensus is GLOBAL and eveyone works on agreements to verify information because decisions are taken all together ( network of computers, minersā€¦) . It removes all this ols style trust system between people because they canā€™t lie to each other.
This earning money system to say the truth brings transparency to the BC.
BC unites people on the same level because it is an public register.
From what I know, there are 2 systems regarding consensusā€¦the POW (proof of work) and POS (proof of stack)

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

Central database is not transparent, no public accessibleā€¦Consensus agreement system canā€™t work.
BC technology enables public verifications ! People canā€™t lie because some people ( actually anybody who wants to get involved to verify data) are ā€œpaidā€ to do this job of verification
[/quote]

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#715
  1. When someone want to upload info to the blockchain, all the different computers in the network review their copy of the ledger and after they all agree on the result, they validate or ignore the possible transaction.
  2. In a central database, only one organization/institution is the one which confirm if the info is correct before uploading.
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#716

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means that everyone watches over the correctness of the information.

  2. How is this different from how truth is determined in a central database?
    In a central database, the admin determines what the truth is.
    Furthermore, unlike the block chain, there is an incentive to bend the truth so that it is to the advantage of the owner.
    The owner of the database decides what the truth is.

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#717

MEANING:
Trusting another is being removed because everyone trusts the consensus system.
The consesus system is trusted because everyone is incentivised to tell the truth by rewarding honestness with money.

DIFFERENCE:
In a centralised system it is not possible to inplement such a rewarding system because it is not possible to verify wich truth every individual player is bringing in the system. Because we have a imutable ledger, facts can be checked by every paticipant in the network.

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#718
  1. That consensus determine the truth, means that each new transaction must be verified by all the other independent computers which are incentivised to do so.
  2. In a central database, truth is not verified. Only asserted by the author/authority.
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#719
  1. What does it mean when we say that in blockchain, consensus determines the truth?

Consensus is when a network agrees to a transaction that has been either falsified and denied or made true and accepted.

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

A central database is controlled by one organization and can only be made true by verifying the transactions in said database. It is up to the organization that controls the central database to be honest.

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#720

  1. Because the truth is determined by the longest block chain, which is determined by all nodes on the network agreeing on the longest chain, which is visable to everyone. Unlike traditional systems where a central authority determines the truth.

  2. In a central data base, the truth is whatever the owner says. there is no math to prove the central data base is correct, and usually no way to verify the central data base is correct without having admin access or trusting a third party.

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#721

  1. Only when all parties of the network agree that a info or transaction is valid it actually is determined as valid and true.

  2. A single party or small group of parties that control a centralized database determine if an info or transaction is true. There is no control or guarantee that they donā€™t manipulate the database and that they are telling the truth.

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#722

  1. It means the truth is determined by the agreement of every link in the block chain.

  2. In the central data base you cannot determine the truth. You need trust. The consensus is trustless.

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