Homework on Security & Immutability - Questions

Blockchain and Bitcoin 101
#141

A decentralized network increases security because there are no intermediaries, so the trust is in the Maths, protocols, core laws and principles of the universe- you don’t have to trust a third party - security on a global level. Global database versus informational silos owned by private companies.

It is dangerous to trust a central authority for security - this will be some company selling their own solution.

The internet is also a set of protocols - all about maths and being a protocol for information.

Bitcoin is a value protocol.

Internet - global infrastructure for informational exchange. - unites everyone on global infrastructure.

Blockchain - all applications where you need tracking.

#142
  1. A decentralized network increases security by having the transactions verified before including them into a block and then by having the transactions become immutable.

2: It is dangerous to trust a central auhority for security, because it can be hacked or dishonest or make mistakes.

#143

  1. Every one has the same information and is connected to each other, a false player is quick to be identified. There is no one to be trusted as the network provides the trust by verifiability.

  2. With a central authority you have to trust on the honesty of the said authority. If they are dishonest the security is compromised. Also it is a single point of failure/attack which does raise the risk exposure dramatically.

#144
  1. How does a decentralized network increase security.

By having multiple nodes given equal responsibility, decentralized networks allow for a more secured platform as it is trustless and incentivizes users for abiding to the protocol in the event of transaction verification.

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

By trusting a central authority, you place too much personal sovereignty into the hands of a singular entity. This entity may not always, if at all be operating under your best interest, and can manipulate protocols for it’s own benefit. Also that central authority always stands the risk of being compromised.

#145
  1. There is no single point or oracle to fail or to trust, once every participant verify the transaction, and to be adulterated it must be changed by the majority of nodes, an almost impossible mission.
  2. People just loves money, benefits and power, every authority is passive of corruption.
#146

  1. Security is increased because there is no centralized network with all the data. Because the data is stored in a decentralized system it is not hackable.

  2. It’s dangerous for data to be kept in one centralized authority because that authority can change the date to fit their needs. Centralized data is also more vulnerable to data breach.

#147
  1. There is no central point of failure if a silo goes down from a hack or some failure. The information is backed up elsewhere.
  2. It can be manipulated. You have to trust that authority.
#148

Homework on Security & Immutability

1. How does a decentralized network increase security?

  • due to its immutability (no changes in the history or content of a blockchain is possible)
  • the algorithm is based on proven cryptography (math)
  • the central point of failure is limited to a minimum

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

  • definitly exist a central point of failure
  • database is mostly private (hidden)
  • often the source code is closed
#149

1.How does a decentralized network increase security?

Security is increased by a network of computers that verify all transactions, once verified can not be remove, copied or added too and become immutable, this is done by the math and protocol in decentralized networks.

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

It is dangerous to trust central authorities or third parties with your data because your handing over your power and information to them. So your having trust that your data will not be sold,shared,lost and security is in place to protect it. As we know our data is being exploited by your Facebook, Amazon, Governments, Banks for profits.Security has been slack at best and prone to hackers who have been exploiting flaws in central databases systems for many years.

#150

Homework on Security and Immutability.

  1. By having a decentralized network you are not depending on one third party to control or manipulate data. Since all entries within the blockchain are collectively agreed upon, there is no one single authority. The network can do this by it providing incentive to individuals willing to support the network thus increasing security and trust.

  2. Trusting a central authority can become dangerous when that entity does not have your best interest in mind. History has many examples.

#151

How does a decentralized network increase security?
It has greater security than a centralized operation, since it is not controlled by one person or business. All the entities participating in the network have to agree on any changes on the database.

Why is it dangerous to trust a central authority for security?
It is dangerous to trust only one entity in control. Something can go wrong with that entity.

#152

  1. The greater the network, the less likely it can be attacked by a malicious party

  2. Single point of control is susceptible to manipulation

#153
  1. Many computers have to agree with any transaction, difficult to impossible to hack all of these computers.
  2. Not everyone is honest.
#154

1. How does a decentralized network increase security?
One of the many issues with security is how information/objects/money can be taken, sold on the dark net and/or used for illegal purposes. With a decentralised network and its in-built consensus mechanism, it is difficult to duplicate information/objects/money. So the protocols and consensus mechanisms which are present with a decentralised network, on top of the securities already present on the internet or in person, enable an increase of security.

2. Why is it dangerous to trust a central authority for security?
It depends on the definition of central authority. If by central authority you take it to mean an organisation, a group of individuals or a government body then proper and honest trust can be difficult to give due to the influences of human nature: greed, prejudices, conflicting value systems, lack of morality, and so forth. A central authority often eventually has a different aim to that of those it works with or serves.

#155

Homework on Security & Immutability - Questions

  1. How does a decentralized network increase security?
    Because the data is distributed among all the nodes on the network. So ,to tamper the data it needs to be done at all the nodes which is highly impossible.
  2. Why is it dangerous to trust a central authority for security?
    Because it can be corrupted or manipulated easily because of its central point of failure.
#156

1 a decentralized network is less vulnerable to hacking, bribes, natural disasters, etc.
The public decentralized ledger stays intact.
2 A trustworthy central authority can change (in time) and can become vulnerable for bribes, own interest, etc. Hence is on itself a security risk.

#157

  1. Instead of trusting one authority with your data and transactions, a trustless network verifies and records your data, and because a consensus is required, it is safer. Because so many computers on the network make copies of this data, it cannot be hacked, changed or deleted.

  2. A central authority can easily be hacked or they can decide on their own to delete or alter your data.

#158

1 - Nodes verify data and they are agreed through consensus. Once the data are added you cannot remove them. So they are immutable. They use math to achieve that.
2 - There are various silos of centralised information that can control data and even compete with each other. Third parties own our data that can be even used against us or hacked. Our privacy and identity is also at danger.

#159

  1. How does a decentralized network increase security?

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

  3. A decentralized network creates a global network utilizing a standard protocol based on math to ensure security.

  4. When you put your data in the trust of a company’s or organizations hands, you are relying on the integrity of the company or organization to be good stewards with your data from external and internal threats. As opposed to trusting a decentralized network which would provide transparency, accountability and tracking of your data.

#160

Since a decentralized network has many separate computers working together to achieve consensus it is much more difficult to attack.

It is much easier for a central authority to be compromised. There is a much higher risk of a hack and the authority has to trust all of its employees and partners to not disclose any sensitive information.