Homework on Security & Immutability - Questions

Blockchain and Bitcoin 101
#261
  1. How does a decentralized network increase security?

A decentralized network doesn’t need trust except trust in protocol and math, which is very difficult to hack, cannot be bribed etc. also because all nodes participating in the network have a copy of the entire ledger. In order to modify something, all ledgers should be modified, not just one version like in a central database.

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

A central authority is easier to hack, it’s possible to bribe people working for such companies, it’s possible to have dishonest people leaking sensitive information etc.

#262

  1. A decentralized network increases Security because like the internet it relies on Math and Protocol to verify different truths. There is no human interaction or trust needed in this case.

  2. It is dangerous to trust a central authority for security because in a case like this, most data can be consolidated to a single target. Without Decentralization there are no other participants to consistently verify and add more weight to truths.

#263

How does a decentralized network increase security?
A decentralized network increases security because it is not a central point of failure. A decentralized network has many points of agreement (consensus) which makes it that much more secure. Its like having one guard watching over your treasure VS many guards watching that same treasure.

Why is it dangerous to trust a central authority for security?
It is dangerous to trust a central authority for security because it is one point of failure. That central authority is also the target of a hacker or thief who would steal your treasure. You may have one security guard or many security guards…which is more secure?

#264

A decentralized network increases security because no one entity like your bank or government can interfere with your funds. As with greece where the government stepped in and stole 10% of savers capital. Also governments can unilaterally start to print money and devalue the currency to reduce their debt positions. This cannot be done on Cryptocurrencies, governments do not hold sway over the blockchain.

It is dangerous to trust central authority for those very reasons. they can tamper with your funds or lose them to an attack very easily because they are on central servers and not decentralized,

#265

1.) More nodes in the network increase the level of security for the network in general; it can’t be taken down by just one node in the system being compromised.

2.) If there is only one central source of authority, that can act as a single point of failure within the system. Likewise, any information passed down from the central authority would be accepted, factual or not.

#266
  1. How does a decentralized network increase security?

It eliminates intermediaries; the need to trust 3rd party companies or people. We trust just the protocol and the maths.Immutable and completely transparent.

Blockchain’s trustless protocol enables security to be implemented on a global level via a global infrastructure. Enables us to break down the discrete information silos. Increases transparency and accountability when handling our data.

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

When information is siloed and stored/handled on proprietary systems, there is a higher risk of that data being compromised, because there is no global standard governing how people or companies should act. You’re trusting in a corruptible human element instead of a protocol.

#267

1. How does a decentralized network increase security?
With a traditional network, there is always a person or organisation responsible for handling the data correctly. This is prone to errors, mistakes or misuse. A decentralized network like blockchain is build upon mathematical protocols that is responsible for the data handling. These protocols are often even open-source.

2. Why is it dangerous to trust a central authority for security?
They can make errors, mistakes, sell data, use data for the wrong reasons etc. You have no control anymore over any data dat you give them. You just have “to trust” them.

#268

How does a decentralized network increase security?
A decentralized network increases security by replacing third-party custodial entities with resilient autonomous nodes. Autonomy is achieved with immutable self-auditing blockchain databases that use cryptography to thwart tampering.

Why is it dangerous to trust a central authority for security?
To the extent that central authority custodial service cannot provide the benefits of a decentralization,
there is significant exposure to risk in terms of data loss, manipulation, auditing, breaches, availability and disaster recovery.

#269

1- By making it decentralized in which there’s no center therefore it’s immune against hackers.

2- because a central authority can be hacked. and the author can manipulate it.

#270
  • How does a decentralized network increase security?
    A decentralized network cannot be compromised.
  • Why is it dangerous to trust a central authority for security?
    Because there are no other entities with a copy of the ledger.
#271
  1. How does a decentralized network increase security?
  2. Why is it dangerous to trust a central authority for security?

In a decentralized network there is no single point of failure , protocol is the same globally and mathematically verified on the blockchain .

In a central authority trust with data is placed on the company or people rather then mathematics witch makes it susceptible to hacks or mistakes.

#272
  1. How does a decentralized network increase security?

-Decentralization helps increase security by having multiple nodes throughout the network to confirm and validate what information is being stored. You are trusting in math, and protocol that can never be broken or hacked.

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

-Central authority for security all data is going toward one point of validation, this is problem because information can corrupted and manipulated through this network.

#273

1 a decentralized increase security, because everyone is using the same global protocol or network. Only have to trust in the technic (protocol and functions).
Information stored is immutable and shows the truth to everyone.
2 central authorities can use the information earlier, could not show the truth, but an own interpretation to the public world or just manipulate the data in their way.

#274

Question 1

1. How does a decentralized network increase security?

A decentralized network increases security because there is no one single point of failure which can be leveraged to compromise the ledger. Also because data can only be added to the ledger and not removed it makes it impossible to alter the record of transactions and the data on the ledger can be considered immutable and protected.

Question 2

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

A central authority is dangerous for security because it has a single point of weakness whcih can be attacked from inside the network or outside of the network. Also security on the network may be lax and allow corruption of the central authorities records from various form of attack . So its easy to loose data on a central database and one should consider data stored by the central authority as not having immutability

#275

  1. By making a consensus check on immutable data , there are no human factors(greed,ambitions,goals) involved to change the outcome therefore giving the public, secure and true information.

  2. Contrary to a decentralised system, a central authority can manipulate value and information protocols.

#276

Answere to homework.

  1. You can only add and read information on blockchain, therefore in public ledger everyone can track the origin info/transaction and there is no one single person/party who can control blockchain because all node have to consensus to add info wich is decentralized and through increase security.
  2. In central authority everyone have to put trust in the system that is controlled by group or one person/company. As company can change their statute and database then there is no way to be sure when provided information is 100% trustworthy, as long as parties wont use pubic ledger where provenance is transparent then there will be ONLY reputation for word TRUST.
#277

  1. By working all with the same infrastructure where data can be added but not removed/changed.

  2. Data is stored on their centralized network where this data can be changed, removed or sold for own benefits.

#278
  1. The blockchain is a global database. Being decentralized and global makes it very difficult to control or attack.
  2. Because central authorities are easier to be targeted (you know were to point) and can fall into corrupt practices.
#279
  1. In the decentralized network consensus has to be reached by verifying transactions. We trust the protocol.
  2. A central authority with too much control could be easily corrupt.
#280
  1. How does a decentralized network increase security?

A decentralized network increases security through a number of methods, lets say three for now.

  • The first is the actual decentralized network of nodes, where no node has more rights than any other node.
  • The second is the consensus that secures the behavior of the participants in the network.
  • The third part is the math, that secures that no-one can cheat the consensus.
  1. Why is it dangerous to trust a central authority for security?

It is dangerous to trust a central authority for two main reasons:
The first is that the authority is centralised, there by vunerable as a single point of attack.
The second is that the authority itself is vunerable to change in behaviour. The best example of the risk of this fact, is dictatorships that then use the collected data for their own interests, altering it to suite their needs.