- What does it mean when we say blockchain consensus determines the truth?
In order for a transaction to be accepted on the blockchain a consensus is reached by means of a trustless decentralized agreement between several parties of that which is true in accordance with fact. - How is this different from how truth is determined in a central data base?
In a central data base the truth requires trust in a central authority that is corrupted by intense and selfish greed.
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Thanks for the compliment, it most appreciated !!
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1: Multiple nodes will verify that information is valid. There is incentive offered both to validate good data and flag bad data.
2: A central database does not have a mechanism to verify truth. Data is entered according to the parameters and the truth is determined by the person entering the data.
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- Consensus is determined by a group of untrusted parties able to verify each action made all other parties participating in the same environment.
- A central database has an explicitly trusted centralized authority which defines what is the statement of truth with no external verification.
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- When every node agrees on the action then the truth is determined.
- Central database contolled by one entity.
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The truth is determined when the parties on the networks are in agreement with the transactions, allowing them to be added to the blockchain.
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When we deal with central databases, we must take the āwordā of the singular, closed network, as the only truth. Multiple nodes (parties) must accept the new input and share the updated ledger openly on the blockchain and are (financially) rewarded for keeping the ledger honest.
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What does it mean when we say that in blockchain, consensus determine the truth?
In blockchain, transactions are not recorded if there is no consensus. Consensus means that the info that you put in regarding a certain item must be in consensus with other information. It must agree with the other information in the ledger. This is what prevents false information or counterfeit currencies from being accepted by the system. -
How is this different from how truth is determined in a central database?
In a central database, I believe it is up to the operator(s) to determine what is correct. As far as accounting, there are controls set in place to prevent fraudulent situations. However in these systems, the controls can be circumvented, there is a risk of human error, and there is a risk of hacking. I donāt know if the risk of hacking is avoided with blockchain technology.
Wow. I never saw the use of mind maps before I saw yours. I guess it helps to be motivated by what you are mind mapping. Iām learning a lot already, and Iāve barely started the course. 
Thanks for sharing the map i love it!!!
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- The result needs the agreement of a network and it is united people incentivized being honest.
- When the truth determined in a central database, that can be done by the owner incentivized by its benefit.
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- Consensus determines truth in blockchain because the only valid ledger on a blockchain is the one where the majority of nodes on the network are incentivised to share and broadcast the same information, therefore reaching consensus.
- In a central database, truth is determined by those with central authority who control the network or enterpise. If there is only one party in control of a central database, they can change the inputs of a database to reflect whatever they consider the truth. Truth is most likely derived from a central source with the ability and incentive to alter it. In blockchain, truth is derived from numerous distributed sources that, for the most part, cannot be altered.
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- Consensus is the agreement of the net work on state changes based on most recent transactions. If the network agrees a transaction is good it gets added to the ledger and if the network finds it to be false it gets discarded.
2.How is this different from how truth is determined in a central database?
In a central database, I believe it is up to the operator(s) to determine what is correct. As far as accounting, there are controls set in place to prevent fraudulent situations. However in these systems, the controls can be circumvented, there is a risk of human error, and there is a risk of hacking. I donāt know if the risk of hacking is avoided with blockchain technology.
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In a blockchain truth is the agreed upon consensus of the computers in the network. In a database there is no consensus beyond the computers in the network showing you the latest data entry.
What does it mean when we say that in blockchain, consensus determine the truth?
All the public ledgers have a copy of the blockchain ā when there is a new transaction the network determines whether it is valid (truthful) or not (i.e. there must be consensus among the network to add a new transaction to the blockchain).
How is this different from how truth is determined in a central database?
Any single user with sufficient access rights can adjust data within a central db. This isnāt the case with a blockchain network whose contents is built by consensus so no individual can fudge the records.
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Hi there! We refer to consensus when major part of the blockchain agreeds that the data is correct. So even if the data makes sense, you still need the network to come to a consensus.
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Hi there! So does this consensus help to determine what is true and what is not?
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What does it mean when we say that in blockchain, consensus determine the truth? In order to create the ātrustless stateā of the information to be entered onto the blockchain its pointless entering incorrect data onto it, therefore the multiple parties require consensus between themselves first within the parameters set for that particular data/fact i.e. agreement in the information first before entering the Block Chain
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How is this different from how truth is determined in a central database? It is not possible (as far as I am aware) to have a consensus within a single party (i.e. central database) the verification of the value in numbers to reach a consensus has to be far greater than one (the more the better) this would make it virtually impossible to lie/bad data entering the BC. So the difference as I see it is that a party with an incentive of fear or greed could manipulate a single database entry and benefit unfairly from their actions (probably un-noticed)
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In blockchain consensus determine the truth, because in order for a transaction to be verified multiple independent parties must agree. Verification by multiple nodes are formed by financial incentives which creates a system of transparency. In a central database trust in necessary, because an authority has ultimate control of the ledger and lacks transparency.
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In a blockchain truth is the agreed upon consensus of the computers in the network. In a database there is no consensus beyond the computers in the network showing you the latest data entry.
EDIT:
The consensus is essentially a true statement for the purposes of coding and the lack of consensus is a false making it possible to actually find the truth via the blockchain.
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- In the blockchain network the consensus is when all the nodes inside of the network must all come into agreement on verifying all transactions before it can be added to public ledger as a true information.
- A centralized database can consistent of an authorized individual or group that heads a system of checks balances. That means info can be changed or errors may occur from false info or misrepresentation.
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- It means that all or at least majority of nodes agree what is truth and does not include transactions that are not.
- You donāt have to trust one database.
What I would like to see is some kind of indicator that is public, on a blockchain, that tells you how many ānot trueā transactions that have been tried.
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