Homework on Consensus - Questions

Blockchain and Bitcoin 101
#101

1 this is verification of the network without trust
2 there is no single authority over information

#102

Each new transaction must be verified by the other computers on the network.

In a central database there’s a central authority that decides the truth. Someone has control over the network/server.

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#103

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    -Because the network has the copy of the blockchain so all transactions are checked and, if true, verified by the other nodes in the ledger.
  2. How is this different from how truth is determined in a central database?
    Theres single copy of the database with single individual operating. If the database is corrupted,which aint cool, the truth is altered,
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#104

[quote=“ivan, post:1, topic:8425”]

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

  • Answer: When all agree that, it is what it is and that it is the truth before going forward.

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

  • Answer: In a central database, there is no incentive to tell the truth.

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#105

Consensus is removing trust in a network of computers. In other words, a truth less system. This gives an incentive to be honest and not cheat the system.

A central database does not provide a verification mechanism on the truthfulness of suppliers.

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#106
  1. The truth is verified by the entire network before the decision is made
  2. In a central database there is no verification process before a decision is made.
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#107
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    • The network validates the transactions on the blockchain which establishes a consensus about the validity of a transaction. The truth becomes objective when it’s immutable and trustless, these two elements are defined with a consensus of networked, but distributed ledgers that can be validated by anyone.
  2. How is this different from how truth is determined in a central database?
    • Truth in a central database is subjective and open to interpretation of the administrator. Since people seem to be very greedy the administrator is incentivized to cheat in order to gain a greater control of the, “truth.”
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#108
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    multiple computing parties have agreed upon the correctness of the data and allow it to be registered permanently, this can be verified
  2. How is this different from how truth is determined in a central database?
    you do not have multiple parties independent of each other verifying the data
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#109
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus refers to all network members confirming certain data. Being confirmed by from multiple parts of the network, the data can be considered to be true.
  2. How is this different from how truth is determined in a central database?
    A central database does not have its data shared with multiple other validators and thus doesn’t have other parties to reach consensus with.
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#110

Consensus is when the majority of the blockchain which is 51% agree with the last block.

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#111

The word consensus is mixxed up sometimes. in bitcoin, miners need to follow the consensus rules that all nodes enforce in order to get their block is accepted in the blockchain.
It’s not like a vote where you need 51% to get the block accepted.
if some miners don’t agree on consensus rules, the chain can ‘fork’

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#112
  1. A network of nodes agree together to make a transactions permanent.
  2. No single trusted party is needed.
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#113

1- In blockchain, consensus determines the truth through the AGREEMENT of all parties in the network. For example, in the case of bitcoin, each party in the network need to agree if each transaction is TRUE, based on whether the transaction makes sense and all the parties in the network make a decision.
2- The difference from how the truth is determined in a central database is that blockchain is TRUSTLESS and decentralized. In a database, is centralized and the data can be changed, manipulated, removed.

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#114
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Incentives are provided to the actors that write the “truth” or correct information to the ledger. Actors come to an agreement that a transaction to the blockchain is suppose to be there.

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

There is no consensus with a central database. Any one with rights to the database can write anything they want to a central database.

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#115

  1. The single version of truth is determined by the majority’s version of the record and agree by all the follow. It is decentralized.

  2. Central database’s truth is determined and controlled by central authority/administrator.

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#116

Consensus determines truth simply because it relies on several parties to decide on something.
which is the power of blockchain and its database.

The difference between a central database and blockchain is that we have to trust a central database
and who ever controls it where as with blockchain there is no need for trust because the trust is built
into the system by nodes of computers who must agree on transactions.

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#117

Good point! Although technically speaking, wouldn’t a majority be enough for consensus? If some miners did not agree wouldn’t that result in a fork, but the the chain with the majority would go on continuing to produce blocks. Im relatively new here so please correct me if mistaken. :slight_smile:

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#118
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus requires colaboration. It is a decentralized figure. This is acheived by common incentivation among all members. This way when a new transaction appears which is not in agreement with verification in common. This transaction is inmediately rejected. While another one which is agreed upon by consensus is accepted
  2. How is this different from how truth is determined in a central database?
    Aside from regular databases where its contents depend on one sole centralized authority. The decentralized consensus achieves result from colaboration among its members. Whereas simple databases obey only to its main authority. These databases are subject to error and corruption as they are not subject to verification and proof from its many decentralized members.
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#119
  1. What does it mean when we say that in blockchain, consensus determine the truth?
  2. How is this different from how truth is determined in a central database?

When we say that consensus determines the truth, we mean that the data in a transaction is determined to be true because enough of the nodes in the blockchain agree that it is true.

This is different from data in a central database because only one party determines the truth and does not need agreement from anybody else.

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#120

  1. What does it mean to say that in blockchain, consensus determine the truth?
    It means that the truth is decided and agreed upon collectively by the people.

  2. How is this different from how truth is determined in a central database?
    It is decentralized and trust-less whereas a central database can be manipulated.

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