Homework on Security & Immutability - Questions

Blockchain and Bitcoin 101
#2194

  1. Increased security is provided to a decentralized network through transparency, consensus and immutability.

  2. Central authorities can easily be influenced by power, greed or both which gives way corruption and bad actors.

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#2195

Homework on Security & Immutability - Questions

  1. How does a decentralized network increase security?

There is not one source to attack and everyone has transparency for data in the network.

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

User is trusting that the central authority is keeping your data safe.

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#2196

  1. Removes trust in third parties from the equation, based on math and protocol and cannot be hacked as the hacker would need to hack into all or the majority of computers containing the data.

  2. You have to rely on other people and can never be sure about their true intentions They could use your data for their own benefit, or their security may not be strong enough leaving your data succeptable to hackers.

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#2197

1- The system is decentralized so ther is no one way to compromise the network

2- A central authority is a very narrow one point failure of attack.

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#2198 
1.A decentralised network has no central point of authority. Many nodes are required to verify info so the many points of the network make the process more secure.

2. It is dangerous to trust a central authority as those persons are susceptible to bribery and corruption
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#2199

1.Decentralized databases have heightened security, because the amount validations required for confirmation of a transaction makes it a harder target for hackers and dishonest practices.
2. A centralized database is at the mercy of the oneā€™s at the helm. There are fewer validations, making them an easier target for attacks. If the database was a storehouse, and validations are considered guards of that storehouse, centralized databases have inferior security because there are fewer ā€œguards.ā€

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#2200

  1. The ledger is decentralised, there is no single point that can be targeted to hack into. The data canā€™t be altered easily due to the way the system and protocol is been built by using cryptography technique to secure the data.

  2. Because central authority can be easily targeted and attract attack and hack if the system is not properly secured or due to negligence.

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#2201

  1. It increases security by not having one point of authority to attack making it much harder to hack.

  2. With one authorityā€¦ there is only one point to attack. That also means there is not a trustless system and may not have complete transparency.

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#2202
  • How does a decentralized network increase security?
  • Transparent, everyone will be able to verify data, more accountability, trust in maths and protocol instead of a central body.
  • Why is it dangerous to trust a central authority for security?
  • Canā€™t verify the legitimacy of information provided by a central authority.
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#2203

  1. It creates a trust less network dependent on math and protocols instead of relying on third party gatekeepers that control all of the data being used.

  2. Well depending on how secure you think a central authority should be whether it is just storing your data or using it to sell you ads or sell to another third party, you are never really in control of that data. So it can be dangerous to your privacy and security depending on what they will use your data for, and it also creates a central focus for hackers like the Equifax hack and so many others where troves of data were stolen.

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#2204

  1. Decentralized networks increase security through transparency. Everyone uses the same network and can see the transaction trail. Immutability means that the transactions on the ledger cannot be changed or deleted. Hackers canā€™t steal the information because of the decentralized nature of the system.

  2. It is dangerous to trust a centralized system for security since thereā€™s no guarantee that it canā€™t be hacked or manipulated from outside ~ or inside. The information within a centralized system is privately stored and controlled by only a few individuals who can determine what happens to the information. Leaving security to one company or a few individuals is inherently insecure.

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#2205

  1. How does a decentralized network increase security?
    By giving no human the option to make a decision to compromise sensitive data. The protocol does what the protocol is programmed to do and that protocol is transparent to all users

  2. Why is it dangerous to trust a central authority for security?
    Human fallibility creates multiple potential points of failure in security. No matter how good the protocol is, if it is still mutable to humans, it bears a potential point of failure for humans are selfish, and their actions are not subject to mathematical certainty

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#2206
  1. How does a decentralized network increase security?

the information isnā€™t siloā€™d so all nodes have to verify a single transaction

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

when theres a central authority theres also a central place of attack. When you keep all information in a single silo it opens yourself up to attack.

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#2207
  1. Instead of all the data being stored on a single server, itā€™s distributed between all of the nodes on the blockchain, therefor making is far more secure.
  2. A central authority could be hacked, taken down, or destroyed. Itā€™s much harder to hack or take down a blockchain.
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#2208
  1. all transactions are visible on the internet and there are no silos. Nodes verify transactions.
    No third party can change the transaction.

2.You have to trust them.

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#2209

Checks and balances like US law is ā€œsupposedā€ to but indisputable Laymanā€™s terms. Canā€™t be corrupted.

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#2210

Sorry. I should bullet point. I do it all day at work. I like to get down to it. If I am not getting a passing grade, let me know. I like to break things down into simplest terms.

#2211

Well, at least I think you answered correctly in your own words :stuck_out_tongue:

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#2212

  1. How does a decentralized network increase security?
    Because security is provided multiple actors that are incentivized to support the truth. A decentralized network is more resilient to attacks and failures than a unique and centralized location

  2. Why is it dangerous to trust a central authority for security?
    Because a central authority can because compromised untrustworthy and corrupted.

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#2213

1- It is trustless and incentivised, and also immutable. As a result, it would require over 50% of the nodes to approve a transaction, which itself would not benefit the holder of the 50% were it to approve an invalid transaction
2- It is dangerous because of the fact that you are placing trust in a 3rd party whose incentives/objectives/motives may not align with yours, and would have full control over your assets/info.

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