Homework on Consensus - Questions

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

Consensus is having multiple and different sources to independently confirm the blockchain. Once determined and verified to be the truth, no ‘trust’ is needed or relied upon as ‘consensus’ provides the truth in ‘decentralised’ blockchain. :sunglasses:

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

In a central database, truth is hear-say or an option of one or more, based on their review the database. This process is not necessarily without issues leading to the ‘truth’ being suspect due to intentional changes or ‘honest’ mistakes that render this ‘centralised’ data base imperfect by nature of its composition and construction. :sunglasses:

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  1. It is the truth that is decided and agreed on by several nodes.
  2. In a central database, the truth of the data is in the hand of the authority. He/she will be able to chnage,delete or add more things into the data.
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  1. What does it mean when we say that in blockchain, consensus determine the truth?
    A: Consensus is when all parties on the blockchain agree via logarithmic calculations that a particular transaction or piece of information is accurate. If a transaction comes along that doesn’t fit the mold then this would be flagged up as inaccurate and not allowed to exist any further. This is ultimately achieved via incentives.

  2. How is this different from how truth is determined in a central database?
    In a central database parties simply have to take the word of the supplying party that the information is correct and accurate. This cannot be verified as authentic and we simply have to trust the supplier that the information is fair and honest. They can simply alter data to suit their agenda.

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  1. What does it mean when we say that in blockchain, consensus determine the truth?
    It takes multiple validators to approve the action.

  2. How is this different from how truth is determined in a central database?
    In a central data base there is no validation on truth. On can just make a statement or action that is untrue, and without validation it is assumed to be correct.

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  1. When speaking block-chain, consensus determines the truth by the network of computers running nodes to verify each transactions/ holdings validity.

  2. In a central database parties have access or passwords, back doors, etc… to allow manipulation or changes to be made to a file, database or even a transaction. Similar to paper dollars where it is the wild wild west. Counterfeits, illegal laundry, Blockchain in fintech will take over because of its accessibility to validate every single tranaction within a fraction of the time it takes banks.

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tanja

Oct '19

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

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

A. Each node within the network is incentivized to be accurate in order to verify a blockchain’s provenance. An overall agreement and consensus of that network determines the database records to be true.

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

A. Truth and verification in a central database is opaque because it relies on trust and not incentive to be accurate.

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  1. It means that consensus makes sure that the contributors of the blockchain are telling the truth about their transaction.

  2. This is different from how truth is determined in a central database because contributors in a central database can get away with lying more easily and the company selling the product has to trust the supplier. An authority could not intervene and change ingredients in a block chain.

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  1. “Consensus determines the truth” means that the system of verification employed through the network (i.e., consensus) can weed out any false claims. If everyone is incentivized to tell the truth, the truth will be the product of consensus.
  2. The main difference in how truth is determined via blockchain versus centralized systems is the removal of trust. Without open verification, truth is more a matter of faith and belief (i.e., trust) than factual understanding.
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  1. What does it mean when we say that in blockchain, consensus determine the truth?
    Consensus in a blockchain is when all the various nodes in the network come to an agreement on a transaction together. There is no central authority or actor that can override the collectively made decision. It is usually through a consensus protocol like “proof of work” or “proof of stake”.
  2. How is this different from how truth is determined in a central database?
    In a database there is a central authority and/or actor that can make decisions and no multiple nodes with the same information that can be checked against.
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1- If everyone involved in validation does validate a transaction, then the operation becomes engraved in the blockchain, and since it can not be erased, it becomes the truth.

2- A few people decide a validation on a centralized system, and that might pose a problems in terms of honesty.

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  1. meaning that all the ledgers that hold the blockchain information have come to the agreement for that particular transaction (added information) is correct. They have all verified it.

  2. In a central database there is only ONE entity that determines if the transaction is correct, leaving too much trust on one single entity.

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  1. Consensus in blockchain means that many nodes on a particular blockchain network have worked together to make a decision to verify and append a transaction to the blockchain and these nodes also store copies of the same blockchain ledger on their nodes which gives all participants access to the same immutable, real-time data. These consenting parties are incentivized with money to verify the most truthful and likely to be accepted transaction which is based on very long and complicated mathematical problems.

  2. In a central database we cannot be sure that the information is truthful because it’s controlled by one or few entities and can be altered. In this case, we have to trust that the centralized entity is being honest but we cannot verify this.

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What does it mean when we say that in blockchain, consensus determine the truth?
The different computers in the network verifies that they all have the same information ,when they all agree then they reach consensus and the action or transaction is deemed to be true.
How is this different from how truth is determined in a central database?
Here we trust a institution ,business or entity to be honest and verify actions.
Human error occurs ,people are dishonest and as such we need to employ more and more entities to police the police or authorities.

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  1. Consensus determine the truth by verifying transaction in blockchain, which means a system computer/network have to agree that the transaction is true, not just a computer/network.

  2. Decentralized database is incentivice by telling the truth, makes them play by the books while central database it’s not. Central database is controlled by a single authority and it’s suspectible for manipulation.

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  1. Consensus is when all the nodes approve the current ledger therefore the consensus of all of them is the truth.

  2. In a central database it’s based on what people say or their records they created.

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  1. Meaning that no one block can be added to the blockchain without a number of nodes all verifying and coming to agreeance on the addition on the block/transaction.

  2. A central database is controlled by a specific group or person who can choose to act dishonestly, resulting into a corrupt database.

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  1. It means that truth in a blockchain, comes from the verification of certain data by several parties. Truth is the result of multi party verification and confirmation.

2.In a central database, you do not have the ledger of the blockchain to arrive at consensus, you need to trust the centraliced data instead.

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An individual cannot decide if a transaction is valid, there must be network consensus. On a central database there is room for corruption because an individual alter the outcome of a process.

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  1. The network nodes are interacting and communicating with one another to confirm the transactions to obtain consensus. The truth is determined through that consensus that is determined by the nodes.

  2. The truth in a centralized database has an overruling authority over it, whether it be a priveledged user, administrator, company management etc. As a result, trust is not evident as there are many points of entry where that trust can be altered or changed.

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