Homework on Security & Immutability - Questions

  1. Trust is based on protocols and validation by network of computers rather than by one entity
  2. Central authority is prone to be manipulated.
  1. There is no single point of failure. Hence, no single point of authority which leads to no single point of being compromised.

  2. It is dangerous because it provides a single point of failure, which also makes the system easier to be compromised.

  1. A decentralized network increases security by having every node check every other nodes result, leaving trust in the maths behind it and the protocols it works on and not the integrity of the data at one point.

  2. In a centralised system there is only one point where data has to be corrupted or manipulated

  1. How does a decentralized network increase security?

There is no single central point of authority in blockchain as data is spread across the entire network of computers and therefor data corruption / hacking becomes very difficult

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

Central Authority systems can be vulnerable to hacks and also data stored in this centralized way can also be copied / extracted / changed and even lost.

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  1. Decentralised network increases security by removing trust between entities and by depending in maths and physics for trust. It also does it by giving financial incentives to network nodes to tell the truth and follow consensus.

  2. It is dangerous to trust a central authority for security because they can claim whatever they want to be true or false. In terms of transactions and financial data there is always the risk of tampering data and modify them to serve the central authority’s purpose.

Ad. 1. No one can change the data since it’s decentralized
Ad. 2. It can be hacked and manipulated

  1. How does a decentralized network increase security?
    Decentralized network is open and verifies every single transaction. You can only add transaction to it and cannot remove it.

  2. Why is it dangerous to trust a central authority for security?
    A central authority can suspend an account for no reason, can be easier to hack, and the central figure can change transactions without any accountability.

  1. A decentralised network increases security by, verifying transactions through consensus and an opaque network. The distributed ledger cannot be altered and this ensures that all transactions are accounted for.

  2. A central authority is usually a third party that is not completely transparent. They may not have secure protocols in place to adequately secure data. They are therfore vulnerable to theft, hacking and data breaches.

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  1. In order to manipulate a decentralised database, u need to attack all the computers in a network.
  2. A central database is relatively easier to hack and central admin has authority to manipulate it.

1. How does a decentralized network increase security?
If the network gains more and more participators (validators such as nodes/miners) the network gets more and more secure.
There is a point that the network is so secure that is becomes mathematically impossible to break the security.

2. Why is it dangerous to trust a central authority for security?
You have to “trust” that central authority that it is honest. There is no way to validate if that central authority is in fact behaving honestly.

  1. A decentralized network increases security because there is no central authoritative point which can be modified or altered and through a network with thousands of nodes, each transaction is verified and accounted for.

  2. It is dangerous to trust a central authority because there is always a threat of inaccountability with the central authority, and risk of data/information being altered, adjusted or even lost because of that central authority.

  1. How does a decentralized network increase security?
  • By being decentralized we are not trusting an organization but the network instead (blockchain).
  1. Why is it dangerous to trust a central authority for security?
  • With a central authority, the information can be changed and edited. There’s no immutability with the transactions: only blockchain can guarantee it.
  1. The entire network is in charge of security, every node works together making it hard for attackers since they can’t just focus on one node.

  2. A central authority is vulnerable. Attackers now have a central point of attack, making it easier to crack the code, they can just focus one central authority.

  1. You are fault tolerant, one or many nodes could be down, or compromised and still be operative.
  2. It could fail, could be hacked.
  1. How does a decentralized network increase security?
    A Decentralised network may increase security by way of nit having a single point of attack and failure
  2. Why is it dangerous to trust a central authority for security? For the opposite reason, there is a single point of attack and failure.

How does a decentralized network increase security?
Since all information is shared , everyone can see and verify it.
Why is it dangerous to trust a central authority for security?
A central authority can be hacked , manipulated, corrupted, shut down and misuse the information.

How does a decentralized network increase security?
In a decentralized network consensus among many participants is required for the truth to be recorded as accepted transactions on the blockchain. No central authority is required so the system can be called “trustless”. Transactions on the blockchain are immutable so nobody can steal or fake the entries made in the distributed ledger, thus securing the ledger. Trust is placed in mathematics, the protocol and the network.

Why is it dangerous to trust a central authority for security?
When a central authority is involved trust is placed in people, companies or entities with possible conflicting purposes. An entity serving as a central authority may have ulterior motives and hide the real truth. Systems like central databases are less secure than blockchain because data can be corrupted, changed or deleted too easily, thus leaving data less secure.

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  1. A decentralized network increases security by ensuring that there is no central point of failure in the network. A distributed system relies on a protocol and the principles of mathematics as the underlying security.
  2. A central authority can be breached or hacked and the assets or data being secured can be stolen or breached.

1- There is no single node can change/alter things written on the network
2- Central authority store sensitive information and have access on it. thus can break the trust and use those information for their own benefits

  1. By keeping a open ledger the system can not be hacked becoase every transfer must be valueted by the other nodes in the chain.

  2. A central authority can be hacked, bribed and are built upon trust wile Bitcoin is baced out of the universal rules of math.