Homework on Consensus - Questions

[DJM]

• What does it mean when we say that in blockchain, consensus determine the truth?
  Answer: The computers on the distributed network verify and confirm the facts of each transaction so that no single member in the network can independently write un-confirmed data into the blockchain.
• How is this different from how truth is determined in a central database?
  Answer: At best, truth in a central database is established by ensuring that the the parties to the transaction data are in agreement and confirm with each other before the data is captured. However, it is not possible for more parties to verify this - other parties need to trust the confirmation process.

[Rafael21]

@ivan

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

1. That’s an interesting question since computers in the blockchain don’t have a concept of what is true or not. Since truth cannot be determine by individual computers, something else needs to be used to determine truth. In the case of blockchains this is the consensus mechanism. All this really mean is that computers on the network will independently validate data/transactions and will compare its results with that of all other computers in the network. The version of the ‘truth’ that is agreed to by the majority of the network computers is accepted as the truth for the blockchain.

2. In a central database, there is no such thing as consensus. Instead a database administrator or trusted user makes changes to the database which is automatically accepted as the truth. This requires that those with access to the database be trusted.

[Jaco_Vosloo]

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

   • It means that it gives all the nodes on the blockchain the ability of provenance of information
     and to verify the validity of that information, if most of the nodes agree on validity of the
     information it surely must be the truth.

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

   • A central databases trusts that the information is correct it never doubts the validity , it
     doesn’t have provenance and mutual consensus.

[GraVeddieMusic]

1. All computers are in verify this transaction is true and have to be in agreement to add it to the blockchain.
2. It is not trust less and can be changed or manipulated by a 3rd party.

[Chamel_Bachtarzi]

1. What does it mean when we say that in blockchain, consensus determine the truth?
   It means that t the truth is determined by an agreement between the different actors (in this case the computers) who will confirm, following a verification, that the information entered is correct/not biased

2. How is this different from how truth is determined in a central database?
   In a central database there is only one actor who decides what the truth is. No one else is involved in the decision making process.

[DrKnugen]

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

Every transaction must be verified by the other computers on the network. So if you fake a result the other computers will notice and alert this.

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

In a central database there are no network to verify that the result proves what it really is.

[voconget]

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

The network of nodes reaches a state of agreement which cannot altered by individual nodes.

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

Truth in a central database is determined by access rights.

[terrydanaher]

1. What does it mean when we say that in blockchain, consensus determine the truth? When the responsibility for authenticating a transaction is spread amongst many players in the network, truth is determined. 2. How is this different from how truth is determined in a central database? Truth is determined by the trustworthiness of whoever controls that database.

[Faisal_Harianawalla]

[quote=“ivan, post:1, topic:8425”]

• What does it mean when we say that in blockchain, consensus determine the truth?
  In blockchain the network of suppliers are financially incentivized to tell the truth.
• How is this different from how truth is determined in a central database?
  In a central database a user can be incentivized to perform his/her duties to maximize his/her self interest without any regard to the truth. So it can often be that incentives actually go against the truth as self interest makes them do things that are not truthful.

[RobertD]

1. It means we rely on math to verify transactions on the blockchain through a network of computers and is only confirmed when their is a consensus of the network.

2. In a central database their is no governance of the data that is inputted by either party.

[pepijnnabbe]

1. All nodes verify that a transaction is valid, meaning there is no cheating possible by slipping a false transaction in the ledger without nodes rejecting it, because it cannot be verified
2. Because it is centralised it can be manipulated without all stakeholders having to verify.

[colgate_fresh]

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

When all the computers agree on their ledger entries, any malicious or erroneous entries are discarded. They are incentivised to ensure the correctness of an entry. No one computer trusts the other, and no one entity has full control over any single entry, much less the entire ledger.

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

Truth is determined by trusting the owner or administrator of the database. Transactions can be added, altered, or deleted by the trusted administrator or owner of the database, as well as other internal and external entities.

[SoloDragonGG]

What does it mean when we say that in blockchain, consensus determine the truth?
Everything is double-checked. Through a majority voting mechanism known as “consensus”, different computers who run a full copy of the network protocol, validate the ledger’s data by comparing it with the other nodes view on the matter. If and only if the majority of network participants agree upon the validity of the transaction.

How is this different from how truth is determined in a central database?
In a central database, the truth is determined by the owner of the database. Lacks clarity, lacks real time accountability, subject to expensive and lengthy audits.

[Emjay]

1. All computers in the blockchain have to agree that the new transaction makes sense!
2. central database is disconnected and easier to be less truthful about where product is coming from, harder to verify!

[patric_019]

1. by when a network of people or computers involved in the blockchain network come to an agreement.

2. In a central data base everyone in the network may not have access to the data base therefore you have have to trust a central authority.

[Erwin]

1. There is no trust involved. But an agreement between all the nodes in the netwerk determine if the transaction is correct or not.

2. There is a lot of trust involved. That the information put in the central database is correct.

[Crypto_Daddy]

1. several (computers in network) check and agree on a fact

2. This is decentralized so no one thing can make the decision a group (network) has to agree collectively that information is correct

[BobN]

Homework on Consensus - Questions

1. What does it mean when we say that in blockchain, consensus determine the truth?
   We all (all nodes involved) have to agree on the same
2. How is this different from how truth is determined in a central database?
   In a database it is possible to reach consensus all by yourself and you can change afterwards, which is impossible in blockchain

[Boas]

1. Truth rather than Trust. On the blockchain all the incentives are towards confirming that something did or did not happen. There is no value in false data. Once there is confirmation and consensus a transaction can happen.

2. It is very easy without consensus verification to make a transaction that is based on trust that later turns out to have been made in error or the data has been manipulated or destroyed.

[Maxivation]

1. That the truth is validated by different people or nodes. In blockchain we check the truth together with others and find one truth that we can all(or most of all) agree on. That is the truth that we determine together. The blockchain is decentralized so there is not one person who determines what the truth is.

2. The incentives in a central database can be different, but the incentives in a blockchain are always the same. Be honest and get rewarded, be dishonest and don’t get rewarded. But in a central database, for example a company of your boss. Your boss could ask you to lie about a particular thing so you get rewarded and his ass is saved. So it could be more rewarding for your to lie than to tell the truth in those cases.