Homework on Consensus - Questions

Blockchain and Bitcoin 101
#2211
  1. Because every party involved is communicating with each other, there is no way to cheat or lie.
  2. Because there is no 1 party responsible to verifying or enforcing. Consensus is achieved via the communication of a decentralized network where nodes are communicating with each other establishing a global consensuses through mathematics.
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#2212

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#2213

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

Consensus is reached when participants in the blockchain network agree that the transaction is valid. The increase in participants makes the network more secure and reliable.
Confirmation of the transaction by the participants and their consensus makes the transaction true.

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

In a typical central database there is no need for consensus by the participants. The validation of transactions is done by a central entity that can very well manipulate data to add or delete transactions.

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#2214

In Blockchain Consensus determines the truth because the blockchain is completely transparent and accessible to all. Because it is accessible to all no subgroup can manipulate information without the whole being alerted. This quality removes the need for trust in a transaction and replaces trust with simple verification. No exaggerations, minimizations or untruths required, just simple verification.

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#2215

In a Centralized Database access to the facts and truth is limited to a small insider subgroup. This subgroup then has the opportunity to manipulate and interpret the Data. These manipulations over time naturally corrupt the Data and cause it to veer away from the actual truth. There is a natural incentive in the Centralized systems to interpret the Data in such ways as will benefit the insider group at the expense of the group as a whole.

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#2216
  1. Consensus determines the truth by achieving financial incentive by rewarding nodes for validating transactions. This removes the need for trust because all nodes must agree on changes in the network.
  2. This differs because in a central database only a single individual or party agreed for the information to be true.
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#2217

  1. Basically it means that something is considered true if everybody agrees that it is true. It’s like the sensation of color, everybody agrees that something is red just by seen it.

  2. In a central data base the truth is defined by the authority principle (the boss is always right). The entity that creates the data base define what is true and what is not.

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#2218
  1. Everyone has to validate/agree that a transaction is true
  2. In central database only one party has to validate the information
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#2219
  1. What does it mean when we say that in blockchain, consensus determine the truth?

The network community has to agree and come to a common consensus before it is added to the blockchain. When multiple networks can verify a similar consensus then the truth is found and added.

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

Only the owner of the central database determines what is true not the community as in blockchain.

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#2220

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#2221
  1. Means that consensus allows verify the transactions in every single step of the supply chain network due the incentive of succes
  2. In central data base is impossible verify validity of transactions. Is a network wich only works due the trust of a central authority
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#2222

My Answer:

In blockchain, no single entity determines the truth. The blockchain is maintained in a number of independent nodes on the network, each under individual control. The node owners are incented to record the truth - indeed the mechanism of the blockchain is designed such that they will only make money when telling, or affirming the truth and lose money when lying. As a result the concept of trust becomes irrelevant because everybody tells the truth by the fact of them profting from the system simply working.

A central database is controlled by a single entity (person or group) and as such that entity needs to be trusted to put true data into the database and keep it there. There may be incentive, and certainly opportunity for the database owner to add false data, partly because there is no mechanism for stakeholders to necessarily check it - for example, checking with a whole network of suppliers whether a single supplier of a processed food item has used only organic ingredients from those suppliers in its productions. Central databases facilitate the hiding of such things as ingredient substitution.

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#2223
  1. What does it mean when we say that in blockchain, consensus determine the truth?

Being that the system is decentralized and a ledger is stored on multiple computers when a transaction takes place, every computer will confirm whether it is true or false. Each computer has a say and is incentivized, to tell the truth.

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

In a central database that truth is coming from one entity, there is not a consensus involved. There is also no incentive for telling the truth.

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#2224
  1. Within blockchain technology, consensus determines the truth by checking and verifying data within the network. If it fits the model and everybody in the network agrees, its good to go. Essentially, its a trustless system because it the truth is determined by verifying data.
  2. In central databases, truth is determined by human voice. Humans aren’t perfect thus trust within a person is relied for the truth which leaves lots of room for inaccuracy.
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#2225

1.Because a network of computers verify that the information is correct.
2. In a central database there is no network of computers to verify the correctness of the tranaction.

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#2226

  1. Consensus on blockchain involves many parties. If everyone agrees then an agreement is reached. This is done by verifying against each other so no one can cheat. All parties involved are incentivised to be honest so consensus on block chain consider to be good and reliable.

  2. A central database can have a single person as decision maker. There’s no way to guarantee that a decision maker will not making any mistake and that this person will not manipulate any data

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#2227

  1. Consensus determines the truth because it is trustless and in order for something to be determined as the truth, a number of various entities/parties have to agree that the same thing happened in order for it to be accredited by the network as the truth.

  2. A central database can a) be manipulated/controlled by the central entity controlling the database, and b) it can be hacked easily because all the information is stored on a central database which can be easily targeted and breached.

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#2228
  1. It means that a decentralized group of computers have agreed a common truth and they are financially incentivised to do so.
  2. It is trustless and uneditable
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#2229

  1. consensus + validation = truth

  2. central database/central authority make the truth

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#2230

  1. What does it mean when we say that in blockchain, consensus determine the truth?
    the agreement of the nodes in a network is required in order to determine the validity of a transaction/block and add it to the chain; the truth is therefore the the content of the longest chain as that has the largest consensus.

  2. How is this different from how truth is determined in a central database?
    In a centralised DB any individual with the required access can determine validity/truth without the need for consensus.

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