Homework on Security & Immutability - Questions

Blockchain and Bitcoin 101
#221

  1. There are no third parties involved in transactions and informational silos are broken down because everyone uses the same infastructure to build thier applications. therefore everyone is united under one infastructure where trust is only placed in math and protocal.

  2. Central authorities can manipulate information and often their databases are easy to hack.

#222
  1. There is no need for thrust in institutions, everything is based on math and protocol.
  2. Central authority for security can not be thrust because there are a lot of ways to change or steal data.
#223
  1. How does a decentralized network increase security?
  • In a decentralized network there is no single point of failure. Furthermore no single entity can compromise the network
  1. Why is it dangerous to trust a central authority for security?
  • Central networks are subjected to being hacked. Also as stated in the last homework, central authorities can manipulate and control the central network to their liking. Inhibiting, in some cases, freedom of expression and speech on a central network. A Decentralized network offers a new way to express oneself and gives everybody a chance to participate in the network
#224
  • How does a decentralized network increase security? It spreads out any vulnerabilities so that if one area fails there is still strength somewhere else to keep it on track.
  • Why is it dangerous to trust a central authority for security? Because people are dishonest.
#225

  1. How does a decentralized network increase security?
    It makes the network resilient to failures or attacks.

  2. Why is it dangerous to trust a central authority for security?
    Anything connected to the internet could be compromised. But it’s near impossible to compromise all network participants though.

#226

  1. How does a decentralized network increase security?

    No single entity can compromise the data, to compromise the data an entity needs to control more than half of all the nodes in the network. Security is created through verification throughout the network. Because a decentralized network has provenance there is a trail to the origin of every transaction that can never be removed.

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

There is a higher risk of hacking. Also with a central authority you have to trust a third party to have sufficient security and back-ups of your data. With a decentralized network a user doesn’t have to be paranoid about being suspended or losing ownership of his/her data

#227

1- There is no central authority to impose their will
2- The central authority may act in bad faith, have a single point of failure, etc

#228
  1. Everything is recorded so it’s much easier to avoid spending money on fake businesses.
  2. The central authority can favour certain businesses and ignore others that might be dangerous. In blockchain, all businesses and transactions must be recorded.
#229

  1. There is no third party database to hack. A decentralized network provides security through a match protocol and security with a global infrastructure rather than a single infrastructure that greatly increases security.

  2. Central authorities for security can be dangerous because they can be more easily hacked. The focus is one versus many with a decentralized network.

#230
  1. In decentralized network we trust a protocol or math rather than central authority.
  2. We have no control over how the central authority protects security. We rely on trust.
#231

  1. A decentralized network increases security by relying strictly on the math and protocol.

  2. Trusting a central authority for security would be like trusting a third party. Information is controlled and corrupted do to lack of transparency and real time verification.

#232

Homework on Security & Immutability - Questions

  1. How does a decentralized network increase security?

By limiting the efficacy of a malicious or rogue validator. Also provides layers of redundancy.

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

The rules governing the protocol can be changed without question or accountability. Also it is a single point of failure.

#233

  1. With a decentralized network, the information is spread over this network. The machines in the network is responsible to store and verify this information. If someone want to change the information, he needs to attack all the network. This characteristic gives immutability to blockchain.

  2. If you put all the information in one central authority, in an event of hacking all the information is exposed and can be changed, moved, lost, manipulated, etc…

#234

1 The network is secure as long as 51% of the network has the same information on it. It isnt that one central database can be hacked, There has to be a concerted attack on the whole network to breach security.
2 a central authority is a trust issue, they can interfere with the information they hold or they can easily be hacked because they are in a single place and not spread over multiple nodes.

#235
  1. Decentralized network increases security; no central authority and it is trustless and verifiable.
    It is more secure because the transactions can only be added and not removed-immutability.
  2. It is ridiculous to trust a central authority because of corruption and risk of fraud.
#236

How does a decentralized network increase security?
It uses one node to communicate, as opposed to multiple nodes which can be manipulated by humans at any stage of the transaction.

Why is it dangerous to trust a central authority for security?
At any point of a transaction people can intervene with the process. Not so with Blockchain.

#237
  1. A decentralized network increases security by offering financial incentive to validating a the mathmatical protocol.

Its dangerous to trust a central authority for security because they determine the basis for what is secure or valid without a global consensus agreeing of the truth

#238
  1. How does a decentralized network increase security?

Everytime that you need to find some data, you will be able to do it if it is on the blockchain. It will remain the same data forever since it cannot be removed. Well, that does not happen if you trust a centralized entity due to the fact that THEY control your data.

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

They make the rules, can change them anytime and tell you only the things they want you to know and nothing more. They might share or sell your info with everyone if they please… “Good luck, dude!”.

#239

  1. How does a decentralized network increase security?
    It increases security by not having a single point of failure. If one site is compromised, it gets kicked out of the network and another site (ledger) replaces it.

  2. Why is it dangerous to trust a central authority for security?
    In today’s society, hacks and attacks are a daily occurrence. By having a centralized authority, the risk of a hack or attack goes thru the roof.

#240

  1. How does a decentralized network increase security?
    if everyone chooses to use the same standard / protocol no one can change, delete, lie and it becomes difficult to hack the chain

  2. Why is it dangerous to trust a central authority for security?
    because you can’t really trust that changes aren’t happening