Homework on Consensus - Questions

Blockchain and Bitcoin 101
#95

1.there is a network of computers that consenses al transactions that are going thru blockchain and they deside if the transaction is valid or not.
2. database is centralised and an authority can intervene

1 Like
#96
  1. When a specified number of blockchain operators agree on a block to be added and it is then added to the blockchain which after that all blockchains must agree that chain would be the “truth”. Agreement between a % of miners is the “truth” and therefor that chain has consensus.
  2. A central database on has one truth it’s own. The math and method of the distributed and incentivized blockchain tech is why it’s truth is so much more true that a single source.
#97

Homework on Consensus - Questions

1. What does it mean when we say that in blockchain, consensus determine the truth?
The network participants have to agree on what the next block is. A block which is not built according to the rules will be rejected even if it is the fastest to appear. Because all participants are following the same set of rules to judge whether new blocks are valid or not, blocks declared valid can be assumed to the truth - at least the truth according to the agreed upon rules

2. How is this different from how truth is determined in a central database?
Any information in a central database can be simply the most convenient truth according to the authority in control of it

1 Like
#98
    1. What does it mean when we say that in blockchain, consensus determine the truth?
      Blockchain is decentralized and the nodes have a copy of the ledger. With all new transactions consensus between all the nodes is needed for verification. So it is very difficult to cheat. Consensus removes trust and nodes get incentives to do so.
    1. How is this different from how truth is determined in a central database?
      A central data base can be manipulated by one person or entity.
1 Like
#99
  1. Consensus in blockchain means a decision is made together by several parties in the system in a trestles way. However, it becomes true through consensus or verification process of a collective group.
  2. Truth in a central database is determined by a central authority.
1 Like
#100

1 removes trust because its all open and visible by everyone in the network. result/transactions cannot be falsified and are only given as “valid” when agreed by everyone on the network

2 result/transactions cannot be falsified and are only given as “valid” when agreed by everyone on the network. In a central database the owner of the database will determine when somethings is valid or invalid. can be compromised and falsified too

1 Like
#101

1 this is verification of the network without trust
2 there is no single authority over information

#102

Each new transaction must be verified by the other computers on the network.

In a central database there’s a central authority that decides the truth. Someone has control over the network/server.

1 Like
#103

Homework on Consensus - Questions

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    -Because the network has the copy of the blockchain so all transactions are checked and, if true, verified by the other nodes in the ledger.
  2. How is this different from how truth is determined in a central database?
    Theres single copy of the database with single individual operating. If the database is corrupted,which aint cool, the truth is altered,
1 Like
#104

[quote=“ivan, post:1, topic:8425”]

  • What does it mean when we say that in blockchain, consensus determine the truth?

  • Answer: When all agree that, it is what it is and that it is the truth before going forward.

  • How is this different from how truth is determined in a central database?

  • Answer: In a central database, there is no incentive to tell the truth.

1 Like
#105

Consensus is removing trust in a network of computers. In other words, a truth less system. This gives an incentive to be honest and not cheat the system.

A central database does not provide a verification mechanism on the truthfulness of suppliers.

2 Likes
#106
  1. The truth is verified by the entire network before the decision is made
  2. In a central database there is no verification process before a decision is made.
1 Like
#107
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    • The network validates the transactions on the blockchain which establishes a consensus about the validity of a transaction. The truth becomes objective when it’s immutable and trustless, these two elements are defined with a consensus of networked, but distributed ledgers that can be validated by anyone.
  2. How is this different from how truth is determined in a central database?
    • Truth in a central database is subjective and open to interpretation of the administrator. Since people seem to be very greedy the administrator is incentivized to cheat in order to gain a greater control of the, “truth.”
1 Like
#108
  1. What does it mean when we say that in blockchain, consensus determines the truth?
    multiple computing parties have agreed upon the correctness of the data and allow it to be registered permanently, this can be verified
  2. How is this different from how truth is determined in a central database?
    you do not have multiple parties independent of each other verifying the data
1 Like
#109
  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus refers to all network members confirming certain data. Being confirmed by from multiple parts of the network, the data can be considered to be true.
  2. How is this different from how truth is determined in a central database?
    A central database does not have its data shared with multiple other validators and thus doesn’t have other parties to reach consensus with.
1 Like
#110

Consensus is when the majority of the blockchain which is 51% agree with the last block.

2 Likes
#111

The word consensus is mixxed up sometimes. in bitcoin, miners need to follow the consensus rules that all nodes enforce in order to get their block is accepted in the blockchain.
It’s not like a vote where you need 51% to get the block accepted.
if some miners don’t agree on consensus rules, the chain can ‘fork’

1 Like
#112
  1. A network of nodes agree together to make a transactions permanent.
  2. No single trusted party is needed.
1 Like
#113

1- In blockchain, consensus determines the truth through the AGREEMENT of all parties in the network. For example, in the case of bitcoin, each party in the network need to agree if each transaction is TRUE, based on whether the transaction makes sense and all the parties in the network make a decision.
2- The difference from how the truth is determined in a central database is that blockchain is TRUSTLESS and decentralized. In a database, is centralized and the data can be changed, manipulated, removed.

1 Like
#114
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Incentives are provided to the actors that write the “truth” or correct information to the ledger. Actors come to an agreement that a transaction to the blockchain is suppose to be there.

  1. How is this different from how truth is determined in a central database?

There is no consensus with a central database. Any one with rights to the database can write anything they want to a central database.

1 Like