Homework on Security & Immutability - Questions

Blockchain and Bitcoin 101
#41

Homework on Security & Immutability - Questions

  1. How does a decentralized network increase security?

It increases security by consensus and immutability. You can’t undo transaction and the network is validating new transaction through consensus.

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

Because they can do whatever they want with data inside their database without our permission, we are not able to detect that. What’s more it is they are more vulnerable to hackers attack, what in case of blockchain can be really hard and even economically completely unprofitable.

#42
  1. How does a decentralized network increase security?

A decentralized network increases security by having one standard that everyone
uses. There are no security problems caused by bugs in centralized solutions.

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

It’s dangerous to trust a central authority because they could get hacked and your
data might be lost. Or, they could just lock you out of the system or take your funds etc.

#43

  1. There are not only one single point of failure, if one point fails or are compromised, there are multiple other systems that will pickup the load and continue normally without that system.

  2. a Central authority can be virus infected or compromised, resulting in loss of revenue, information or productivity until that single point of failure is restored.

#44
  1. cause not depends by one single person,company or authorities.
    2.cause you can’t verify what they are doing with data
#45

  1. There are no intermediaries that we depend on, it is transparent and very hard (if not impossible) to fool a big enough blockchain.

  2. A central authority can have leaks and may or may not act in your best interest, e.g. Facebook and Cambridge Analytica.

#46
  1. A decentralized network increases security over other network types because the trust is in the mathematics, not in people. There also is no central point of attack.
  2. Trusting a central authority is dangerous because it can modify data, it could decide to stop being honest, and it is a central point of attack for hackers.
#47

By keeping a open ledger the system can not be hacked becoase every transfer must be valueted by the other nodes in the chain. A central authority can be hacked, bribed and are built upon trust wile Bitcoin is baced out of the universal rules of math.

#48
  1. Eliminates single point of failure.
  2. Because there may be a conflict of interest or some other reason that the company’s integrity could be compromised, and its also much easier to hack because there is a central authority.
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#49

  1. How does a decentralized network increse security?

    I can trust a decentralized network because, it is built on math and protocol that can’t be broken .
    It can’t be bribed or hacked.
    It is a security on a global level, a blockhain database. I don’t have to trust a third part for the data.
    A food supplychain can be tracked all the way back from what grass an were the cow eated it and
    how everything has ben handled every step of the way to the cheese in my store.
    A value transaction can be tracked and controlled every step of the way too.
    In that way it increase security.

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

The danger lies in a ceneralized database, I have to trust that authority, and I have no way knowing if
the data i have in it…or want to get out of it is accurate.
The authority can be bribed, the data can be stolen, hacked,
changed and tamperd with without my (or there) knowledge.

#50

1 Decentralized network works with out the third party autonomously.
2 Corruption usually are in every business sector

#51

Hi emacsfreeman and Cathy
This is my first lessons and diving into blockchain technology.
I am enjoying the course

#52

  1. A decentralized network increases security by getting each and every node to collectively utilize both math and a protocol to verify transactions without trust.

  2. It dangerous to trust a central authority for security because records and/or transactions may be modified or deleted in a malicious, illegal, and/or unethical way.

#53
  1. It makes sure that the data is immutable. There is no way to change or erase information that is in the chain.
  2. A central authority can change or erase information when it wants (whenever it is convenient to them)
#54

How does a decentralized network increase security?

A / This is because all the nodes must agree on the transaction log, and with each copy of the blockchain it allows you to avoid network fraud.

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

R / Because he can manipulate the results or the security of it at ease, allowing the registration of transactions according to his interests. It is also more prone to attacks since it is a single point.

#55

1, A decentralized solution increase security because it is not governed by the decisions of a CEO, or affected by a mistake of a junior engineer for example. Its like a non dependant way of maintaining security at all times all days all years. The Maths and the protocol maintain this security.

  1. It is dangerous to trust a central authority for security. A) How can you guarantee what security policies are used? B) how can you guarantee that these policies remain in effect?
#56

  1. A decentralized network increases the amount of attack points someone wanting to cheat the system will have to address. The more decentralized, the more attack points that would theoretically have to be accounted for.

  2. It is dangerous to trust a central authority for security because there are no “checks or balances.” In other words, it is difficult to hold many central authorities accountable for fraudulent action.

#57

  1. A decentralized network increases security because there is no central point of control. There is transparancy and accountability when a nework is open and consensus is required for any action to take place.

  2. A central authority can change the rules of the game at any moment without notice. Information can be altered or deleted. Also it’s vulnerable to an attack by a hacker.

#58

  1. A decentralised network is much less likely to be attacked because the data is spread around the network. There are multiple copies of the data to enable recovery which means attacking is pointless for “stealing” the data for ransom etc.

  2. A central authority provides an attractive target for an attacker as the data is in one place and can be compromised or stolen more easily. The authority doesn’t “compete” for your custom so they have less incentive to secure your data. There is a lot of temptation to sell your data if it is exclusively in a single authority’s domain.

#59
  1. There is no single point of failure.
  2. Central authority is prone to Corruption.
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#60

  1. A decentralized network is based on maths and protocol rather than on trusting a third-party. The consensus mechanism in blockchain allows for an immutable record of transactions.

  2. It is dangerous to trust a central authority for security because this requires trust in fallible human beings rather than maths and auditable protocols. Unlike with blockchain, the interests of the individuals within a central authority do not necessarily align with your own. Furthermore, even when all parties in a central authority are honest they are still susceptible to human error or security breaches.

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