Homework on Consensus - Questions

Blockchain and Bitcoin 101
#824

  1. That nodes must agree and decides the Truth recorded on the blockchain.

  2. In central database there is a central node that controls the network.

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#825

  1. It is a network of computers that can reach consensus. They all have a copy of the ledger it is decentralized and trustless. This is how the Agreement is made.

  2. In a central database it would be easy to cheat the network. You may make a claim but it is not verified. No consensus is achieved and you may not be able to verify the entire network ( supply chain).

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#826

  1. This means that the totality of the network validates each new piece of data that is recorded to the database. All nodes in the network must agree on the accuracy of the new data.

  2. in a decentralized database, trust is removed from the equation. There is no need for third party intermediaries to be involved in order to validate information. Each node validates the accuracy and authenticity of each new piece of data and there’s no need to trust any one part, they all must have an exact copy of the new data.

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#827

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth? Consensus allows the network of computers on the blockchain agree on whats true or not. Having consensus in the network you know that the decision was not made by one party but by a several parties. Consensus creates a trustless network that is incentivizes decisions made together and with honesty.

  2. How is this different from how truth is determined in a central database? In a centralized database, the truth is determined by the centralized party that controls the database. The information on these databases can be altered by the party who control the database. This is not a decentralized consensus which uses several parties to agree and confirm, but central databases trust only relies on the one party in control.

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#828

  1. Every single supplier inside the supply chain will store data inside the blockchain proofing the correct ingredients are being used. Consensus is being formed by all cooperating parties for a particulair product. It is impossible to cheat and use a different ingredient for example using this method.

  2. Easy to cheat. there’s a central authority that decides the truth. Not all parties can reach consensus knowing absolutely for sure everything is as promised.

1 Like
#829

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus is all about removing trust and making it harder to cheat. All parties verify and come to an agreement together.

  2. How is this different from how truth is determined in a central database?
    A central database can have authority that is not truthful and data can be altered or changed without others having a say.

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#830

  1. Nodes will work together to verify the validity of the transaction until a consensus is reached.

  2. A centralized database will have one single central authority verifying the transaction. With multiple parties involved you will diminish the possibility of corruption and invalid transactions.

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#831

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Multiple computers in the network all have to verify and agree to allow a transaction to be approved.

  2. How is this different from how truth is determined in a central database?
    Only one party is usually involved and can easily be manipulated to fit a desired goal. For example, I can easily claim my product is using a solvent free extract, however the extract I purchased was indeed extracted using solvents and the consumer has no way to verify.

1 Like
#832

1.What does it mean when we say that in blockchain, consensus determine the truth?
the network collectively validates that each transaction is legitimate
2. How is this different from how truth is determined in a central database?
There is financial reward for the truth in bitcoin versus a verification process in central databases

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#833

  1. If the computers within the network agree with each other that a certain transaction is valid, they reach a consensus that a certain transaction is valid or invalid. Therefore they are collectively determining what is the truth and what is not.

  2. Central database can be overriden and no consensus is needed to amend the record and therefore create an alternative version of the truth.

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#834

1: Everybody on the network agrees on what is true/not true. This is handled decentralized
2: A central database is … centralized. Meaning a sole party can determine what is true/not true: Hence alter data in the databses

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#835
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Answer: Consensus is achieved when the network of computers in a blockchain agree that the data on the ledger is correct. Correct data input is incentivized by monetary reward. Since the blockchain can’t be controlled or manipulated by human authority the outcome is mathematical “truth”.

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

Answer: Central databases are subject to manipulation or inaccurate data input which must be determined to be true by a central authority. A central authority can be incentivized to alter the data without consensus.

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#836
  1. Agreement among the network participants results in integrations. / When disaggrement arise and no consensus is reached lead to no integration of data.
  2. The truth is defined by a single or small minority of users.
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#837

Consensus means that all participating parties agree on the validity of the transactions which allows them to be recorded to the ledger. If all parties do not agree then the information is considered false and ignored/discarded.

A central database’s information can be altered, counterfeited and misleading based on an individuals’ motives. There is no consensus with centralized databases. The entity in control can control the data that is seen by everyone else as they see fit.

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#838

What does it mean when we say that in blockchain, consensus determine the truth?
Consensus is used to validate data on the blockchain. When a transaction is presented on the blockchain, it broadcasts the information to each node. Each node performs an independent check. The results of all the checks are gathered and if a consensus if the data is agreed upon it deemed truth.

How is this different from how truth is determined in a central database?
Truth on a centralized database is only as good as the person entering in the data. There is nothing to check to see if the data entered is valid unless audited.

2 Likes
#839

  1. it means that all parties have come to an agreement about a certain truth

  2. A centralized data base can basically make the truth what they want it to be. A decentralized data base relies on a group of verified truths.

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#840

Through the agreement of all parties on the network, lying becomes very hard. An example being if there are five parties involved in a process, and one out of the five says something different than the other four parties, it is reasonable to assume they are lying. And this is backed up by being incentivized to tell the truth, therefore creating the consensus.

In a central database truth isn’t determined, it is stated by a single entity. Whereas, in blockchain, consensus is what determines the truth of each and every action on the network.

1 Like
#841

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth? - Consensus means that the determination of “Truth” is achieved by the mass collective of nodes working together to determine a “True” or “False” transaction.

  2. How is this different from how truth is determined in a central database? – The difference between the “Truth” of a central database vs a decentralized database is that in a decentralize database “Truth” is determined through the permanents of the transaction verified by the collective network. In a central database there is only one entity that determines the “Truth”.

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#842

[quote=“ivan, post:1, topic:8425, full:true”]
Homework on Consensus - Questions

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

    Consensus means that each node or miner is agreeing the transaction is valid - when enough validations are reached it has reached consensus or “the truth”

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

With a centralized database we will have to trust the database to not be a bad player instead of verifying like blockchain

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#843

It means that we only trust what the majority of nodes say.

A central database is controlled by one person (or group) that has 100% control over “the truth”.

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