Homework on Consensus - Questions

Blockchain and Bitcoin 101
#1951

When the nodes of a blockchain network are all in agreement; come to a consensus, that a transaction is factual. It is then allowed to be recorded onto the blockchain. That consensus of factual data = the truth.

a. With central databases there isn’t a decentralized consensus mechanism.
b. There’s probable more incentive to be dishonest than honest.
c. More reliance on trust of factual data

1 Like
#1952
  1. What does it mean when we say that in block chain, consensus determine the truth?
    it means that the in contrast everyone that runs a node, is incentivized to make a decision that all information is accurate and then added to the chain on the block.
    2.how is this different from how truth is determined in a central database, this can be different because you have a central authority that can override decisions whereas in it is determined by consensus and all nodes must agree
1 Like
#1953
  1. What does it mean when we say that in blockchain, consensus determine the truth? - It is decentralized, therefore multiple computers agree that the transaction is valid and is being accepted into the ledger.
  2. How is this different from how truth is determined in a central database? - Multiple computers verify the truth of the transaction to come to consensus. The computers are incentivized to verify the truth.
1 Like
#1954

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

Consensus is an agreement on the network, the truth is the verify by all nodes, and it becomes mathematically proven truth.

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

A central database is driven by a single unit which determined truth, so you need to trust the database. In a central database you can remove and erase. If the database crash, the central database can loose data. In blockchain none of this can happend.

1 Like
#1955
  1. What does it mean when we say that in blockchain, consensus determine the truth?All decisions are being made together through a decentralized network of computers.
  2. How is this different from how truth is determined in a central database? In a central database you have an authority controlling and perhaps corrupting the data.
#1956

  1. Because it shows or verifies if a user is “cheating” or being dishonest.

  2. It’s different because there is no incentives on a central database. So, you cannot know if that user is telling the truth or not.

1 Like
#1957

Transactions must be agreed upon by the miners before they are entered on the chain.
In a central database, the truth cannot be easily verified.

1 Like
#1958

Consensus determines the truth because the whole network has to agree that something is true or not, and there are built in financial incentives for each blockchain computer to do so. Unlike a central database, there is no single authority that makes the decision; the decision is decentralised and determined upon the consensus of the whole.

2 Likes
#1959
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It means that when a network consisting of more than one node, both which has a copy of a ledger, compare their ledges to determine whether or not they have the same data, if there is a difference there is no consensus
  2. How is this different from how truth is determined in a central database?
    Central data base compares to it’s own records to decide the truth, this can be manipulated or false
1 Like
#1960

  1. when a decision is made in a descentralised network, its done together and created by consensus, which means we remove the trust in a 3rd party.

  2. in a central database the truth is determined by a 3rd party.

1 Like
#1961
  1. Because of the decentralized and distributed nature of the system everyone has to agree on the validity of a certain “event” (e.g. transaction), when this is verified by all can it only be integrated to the blockchain. Therefore there is only one “truth” exists on the system that is free from corruption or personal interest.
    2.In a central database the data belongs to a single entity that can only be checked by trusted 3rd partys, this can involve fraud or falsification because it can be diverted by personal interest.
1 Like
#1962

What does it mean when we say in blockchain, consensus determines the truth?
Consensus is the coming together of all computers that collectively make the network to verify information (often a transaction). If the information is verified the same on all copies on the network then the information will be added. If the information isnt verified then it will be disregarded. This leads to the prevention of fraud, as it is immensely difficult to overcome all these verification barriers, while further incentivising people to tell the truth.

How is this different from how the truth is determined in a central database?
A centralised database will have an owner reinstating the element of trust required, when interpreting information on its database. Often the information will be corrupted, as records can be edited or deleted and ultimately it is up to the owner to determine what is available on the database and what isn’t.

1 Like
#1963

  1. Every node in the network has the ability to determine whether a piece of inputted data is true or not true. Because the nodes are financially incentivized to tell the truth, the network is able to come to a unanimous decision, where everything is double-checked. In this case, the consensus IS the truth, because it is resilient to manipulation and the truth comes from within the network itself, not from a central authority.

  2. A centralized system relies heavily on trust, where it is more difficult to verify and double-check data. In a blockchain, trust is not required and the truth is transparent and immutable.

1 Like
#1964

  1. It means if everybody agrees than new transaction will be added to blockchain.

  2. In a central database the truth can be manipulated by authority.

1 Like
#1965

  1. Everyone connected to the blockchain need to agree that the transaction is valid in order for them to get the incentives, and people want incentives.

  2. In a central database one person might alter the data, and it is not trustful.

1 Like
#1966

1.- Every parts of the blockchain has to agree to any operations, so we are in a consensus of the truth
2.- With a central database, the highest autority (or the hacker) can determine the truth he wants

2 Likes
#1967
  1. What does it mean when we say that in blockchain, consensus determine the truth?

consensus determines the truth because the network is incentivized to tell the truth.

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

in a central database truth is relied on trust.

1 Like
#1968
  • What does it mean when we say that in blockchain, consensus determine the truth? - The network nodes validate transactions
  • How is this different from how truth is determined in a central database? - There is no validation other than authentication
1 Like
#1969

1 trust is not needed its replaced by consensus
2 wiht a central database its all based on trust

1 Like
#1970

1 - All parties agree that something has taken place, i.e a transaction. Any transactions must have the assets to make that transaction otherwise it did not happen, there is no ‘concensus’.

2 - A central database can simply make up an entry, or transaction

1 Like