Homework on Security & Immutability - Questions

Blockchain and Bitcoin 101
#201
  1. How does a decentralized network increase security?
  • Multiple nodes mean there’s no single point of failure. The majority of nodes would need to be compromised in order for security to be truly breached.
  1. Why is it dangerous to trust a central authority for security?
  • Central bodies mean someone has more authority over the majority. Also, a central body means a single point of failure.
#202
  1. A decentralized network increases security by eliminating a single point of failure and allowing every participant to assist in defending the integrity of the ledger.
  2. It is dangerous to trust a central authority for security because when opportunities for the central authority to benefit and act for its own interest it may exploit those vulnerabilities so there is nothing to stop them from manipulating things in their own favor.
#203

  1. How does a decentralized network increase security?
    Eliminates a single point or perhaps concentrated points of failure. A security breach in part will get denied by the distributed concuss of the protocol.

  2. Why is it dangerous to trust a central authority for security?
    It is at risk due to concentration of points of failure, or worst case one point of failure. This failure can be an attack, or can be fraud. There is no distributed consensus to protect against an attack here.

#204

  1. a decentralized network offers more security by being censorship and change resistant by not allowing a single participant to change the network without majority of the network agreeing to it.

  2. Central authority’s can abuse their power and can be swayed into giving up information to other authority’'s i.e Governments.

#205
  1. A decentralized network increases security in that you don’t need to trust one individual organization and its silos of data. Instead, in a decentralized network, transactions are stored on a blockchain ledger that is verified by a network of nodes that must agree through consensus.
  2. It is dangerous to trust a central authority because they can manipulate the data and change the standards, as they desire.
#206

1 - By math and protocol

2- Because your data can be hacked and manipulated.

#207
  1. How does a decentralized network increase security?

Everyone has excess to the information and everyone can check if it is true or not. Decentralized network can not be hacked
2. Why is it dangerous to trust a central authority for security?
Because information can be stolen or lost

#208

  • How does a decentralized network increase security? Everyone is using the same protocol, so there is transparnecy, tracability & immutability.

  • Why is it dangerous to trust a central authority for security? t is not verifyable and everyone is selling their own product which can be full of flaws. Total Power corrupts

#209

  1. Security created collectively through nodes,network of computers, verifying. transactions which are immutable.

  2. Avoiding manipulated Information silos through decentralization.

#210
  1. No single centralised point that can be hacked and a consensus mechanism which is incentivised. Therefore, its advantageous financially to avoid malicious behaviour.
    2.Central authorities can easily be jeopardised depending on their security infrastructure and intrinsic interests.
#211

Descentralization increases security because everyone has a copy of the ledger. This way everyone can check their copy to see if the transaction or data is correct and not fraudulent.

It is dangerous to trust a centralized Authority because it can be corrupted and commit fraudulent activity’s in the data

#212
  1. Imagine a building that stands on many pillars. You can knock out one of them, but the building will still stand. The centralized network has only one pillar. So you need one pillar to fall to destroy the building.
  2. The main problem to the central security system is that, like all systems, it is highly susceptible to corruption and attacks. However, when you spread responsibility among many participants, the risk of failure dramatically decreases. The Whole is Greater than the Sum of its Parts.
#213

  • How does a decentralized network increase security?
    A network that is decentralised has no central point of authority that would require trust in a third party and unites all participants under the same protocol and standards thus removing the possibility of silos on separate infrastructures. This completely transparent global infrastructure is by definition more secure as the trust required is in math and not separate entities or individuals.

  • Why is it dangerous to trust a central authority for security?
    A central authority that is trusted to gather and store information also has the capability of editing or misusing sensitive information in ways that is not visible publicly due to its own private infrastructure. This again requires the trust of third parties.

#214
  1. How does a decentralized network increase security?

A decentralized network, such as the BTC blockchain is built on a global infrastructure, governed only by math and protocol. The information in it can’t be altered in a way that would compromise the truthful reporting of data in the historical or ongoing ledger.

  1. Why is it dangerous to trust a central authority for security?

Since central authorities have the ability to corral, or silo, the information in their own databases, they may put their interests above those of the other users of their databases. Trusting any entity to maintain a database which is not fully accessible to the public could lead to the controllers of that database altering the information or falsely reporting it, in such a way that it could be unfair or costly to users of the database who are not privy to the information in it.

#215

Homework on Security & Immutability - Questions

  1. How does a decentralized network increase security?
    A decentralized blockchain network provides global level security regulated by a
    standardized protocol that cannot be broken, bribed or hacked and is accessible
    to all, public. Verified transactions require full, double-checked consensus by all
    blockchain network machines to establish an agreed, trustless truth. There is no
    governing body, authority, or intermediary agency that relegates authentication
    via silo’d independent protocols that only assign perceived trust.

  2. Why is it dangerous to trust a central authority for security?
    Central authorities establish an independent set of criteria and protocols that may
    utilize proprietary IT infrastructure to interpret and manage data versus secure
    verification established on the blockchain. Information silos created by a central
    intermediary only secure the paying customer.

#216

  1. In the decentralized network you control your own data and noone can access it, unless they have your private keys. data is distributed over many different locations, this protect among other things from natural disasters, hacking.

  2. You have to trust whoever controls the centralized system to not access your personal data, Hackers can attack a single site to gain access to all users data. disasters can shut down the service all together. centralized systems can easily be abused by governments.

#217

  1. By having participants (computers, nodes) help secure the network by storing data across a network of computers therefore the task of compromising data becomes much more difficult for hackers. Trying to manipulate a balance or making a false transaction on the blockchain for example which is entirely decentralised can only be achieved if the majority (>50%) of the network is compromised.

  2. It will be easier for hackers to breach a central authority because the server is owned by one entity. You are forced to trust a central authority with your data which doesn’t go hand in hand because a central authority is centralized and can change, edit, delete and manipulate the data or even sell it to third parties.

#218

  1. The decentralized network provides increased security over the centralized one because its trust mechanism is based on the consensus rules that all network participants have to follow in order to be incentivized. In a centralized network, we have to trust an organization that controls it.

  2. It is dangerous to trust a central authority for security because we have no control over how our sensitive data is managed and if it is not misused. Data stored by central authorities are also more vulnerable to hacks.

#219

Homework on Security & Immutability - Answers

  1. Decentralized network increase the security by not being a single network and always have multi network to determined what network is a hacker/false network.

  2. Its it dangerous to trust a central authority because it could be hacked at any giving moment that could take over any info or data.

#220
  1. How does a decentralized network increase security?
    Ans. Having a decentralized network provides more than one element involved in ensuring one entity being able to control the network or having trust in one entity.
  2. Why is it dangerous to trust a central authority for security?
    Ans. It becomes extremely vulnerable as a single point of failure in the system that a bad actor and take advantage to disrupt the entire system and also a single point of failure if there is a data breach or system failure in that one central authority.