Homework on Consensus - Questions

Blockchain and Bitcoin 101
#763
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Computers in the blockchain network must all collaborate to agree on and validate a consensus to determine whether a transaction is valid or not. There are incentives to producing truthful data and transactions.
  2. How is this different from how truth is determined in a central database?
    A central authority is whom establishes what is the truth. This authority has the means to corrupt or ‘cheat’ the data
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#764

With consensus trust is removed by a mathematically proven system. We (and all the other participants) can verify the entire network (transactions etc.) and don´t have to trust anymore. When somebody tries to cheat all the other participants would see this. Removing trust, which means everybody plays to the rules, is achieved through (financial) incentive (because everybody wants to make money).
2.
In a central database trust is determined by one entity (or whatever) and there is no need for agreements from other participants. All participants have to trust this single entity. There is no financial incentive not to cheat and to be honest. They can change the database in their favour without anyone being able to understand it.

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#765
  1. When we say consensus determines the truth, it means all transactions on the blockchain have been verify on each network as all parties are incentivize to tell the truth and easily verified if one party doesn’t tell the truth by a mathematical proven algorithm.
  2. This is different from the way truth is determine on a central database as the verification comes from just the one network which can be manipulated and there are no consensus to verify
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#766

1
The truth of a specific transaction or data entry in the product production example is determined by the the fact that the majority of the step producers (the network) agrees on the validity of every redundant the data entry. This is possible by the incentive, the networkers gain only if they work efficiently and not fraudly. This way the system is thrustless and always verifiable.

2
The central db can be altered in many moments and by many actors so the final user must rely on the trust on the product issuer.

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#767

  1. Every party has to agree wether a transaction is true or false.

  2. There is a chance the authority of the database is not truthful.

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#768

1consensus between the different nodes that verify the “truth” is because all the nodes have a incentive(financial) to be honest and all nodes must agree , which makes it impossible to " lie "
2in a central database the owner of the database can change the information to his/her liking and giving false information to others with no one being able to verify

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#769

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    In blockchain, majority of the network participants must come to a consensus (agree) on newly added transactions.

  2. How is this different from how truth is determined in a central database?
    In a central database the central authority has the overriding power to update the database, with all external participants putting trust in this central authority. The only way to verify the central database is through external audits.

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#770

1.in a decentralized network(blockchain)all computers on the network verify transactions or data by communicating with each other which gives them the opportunity to reach a consensus thus, after confirming that a given transaction(data) is taking place and is valid, they can approve it, which confirms that it is true
2.in the central database we consider the information obtained from a given entity to be true, which forces us to trust them

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#771

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
  • Consensus becomes verify the whole data with the help of provenance. It is the standing point of truth.
  1. How is this different from how truth is determined in a central database?
  • Because it there is no central database! Consensus is the ultimate data connection that links the object or thing data is confirmed.
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#772
  1. Blockchains can determine the truth through consensus because all the nodes on the network collaborate and are financially incentivised to verify the transactions or data is accurate.
  2. Decentralized and trustless. No authority over site while central databases are controlled by a single authority
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#773

What does it mean when we say that in blockchain, consensus determine the truth?
All computers have to agree on transactions before adding to the blockchain.

How is this different from how truth is determined in a central database?
You have to trust the entities making the entries and not the fact that a decentralized community is agreeing on them.

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#774

  1. Consensus determines the truth in blockchain, because all of the nodes/computers have to agree on any updates. It removes the need for trusting people.

  2. This is different from how truth is determined in a central database because we have to trust the person administering the database. We have to trust people which can lead to changing data at will for personal gain.

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#775
  1. consensus determines the truth via verification among different parties agreeing on a certain transaction/statement etc.
  2. a central database needs trust on the centralised database itself voiding the concept completely of trustless network
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#776

1: it means that if there is no consensus, there is no truth. The trancation will be denied and never added to the blockchain / Database

2: In a central database, the “truth” is what is written of maybe a single person, without any check for truth . You have to do the research your self, if you want to completely trust the data.

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#777

1- It means that a network of computers have mathematically confirmed as a group that the data is true based on the history of past transactions. The nodes work together to maintain this trust less data.

2- its trust-less and decentralized, no authority over site whilst a database is centralized and an authority can intervene

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#778

[quote=“ivan, post:1, topic:8425”]

  • What does it mean when we say that in blockchain, consensus determine the truth?
    When a block of data is created, it will be verified by the chain. If the data is not true then it will not be given approval and therefore not appear in the blockchain.

  • How is this different from how truth is determined in a central database?
    [/quote] A central database just needs to the data to ‘appear truthful’ i.e. it fits the parameters of the database. Blockchain data is verified by consensus by all of the database users to 100% ensure that the data entered is correct i.e. not false or duplicated.

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#779

  • What does it mean when we say that in blockchain, consensus determine the truth?
    Inputs are verified by the network and subsequently added to the blockchain. If an input cannot be verified by parties, there is a flaw in the end result.

  • How is this different from how truth is determined in a central database?
    A central database can itemize contents without verifying the contents or their source, or willfully be dishonest about its contents.

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#780

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means that all, or the vast majority, of nodes in the network agree to what is the truth. If a transaction makes sense, and all nodes agree om that, then that transaction will become a true transaction on the blockchain.

  2. How is this different from how truth is determined in a central database?
    In a central database, we have to trust the database owner. We have to trust that whoever executes the transactions in the centralised database, does so in an honest manner.

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#781
  1. With consensus, various parties through financial incentives are motivated to honestly verify information and provenance. Through this verification by multiple parties, you can provide trust that information is true.
  2. Entries in a central database will be entered by someone who may or may not be honest, there isn’t a way to verify the truth of the value since the information is controlled by a single party.
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#782

  1. Consensus determines the truth because there are multiple computers that are rewarded for telling the truth. Otherwise they will not solve the puzzle to gain the block rewards.

  2. In a central database, there is no challenge when someone says something is the truth. This leaves space for the central database to lie without others checking to see if the truth is the truth.

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