Homework on Security & Immutability - Questions

Blockchain and Bitcoin 101
#81

  1. The decentralized network is a “trustless environment”, where there is no single point of failure. As the information never passes through a single server, a decentralized network is highly secure.

  2. The word “centralized” gives away how these networks are structured. A centralized network has a middleman to facilitate its operation, like a bank of all your transactions and information. This means it holds all your data and therefore trust is paramount.

#82

1 transaction can only be valid once it is confirmed by entire network.

2 impossible to be sure if transactions valid, cannot be verified by the individual

#83

How does a decentralized network increase security?
Using provenance and consensus trust less
Why is it dangerous to trust a central authority for security
This is not trust less, you need trust

#84

No single person or government can shut down the network.

They controls all the data and they can shut you down anytime.

#85

Homework on Security & Immutability - Questions

  1. How does a decentralized network increase security?
    -Through provenance and consensus. Since all transactions added to the blockchain are verified by the nodes you can be sure theres no changes happened in data.
  2. Why is it dangerous to trust a central authority for security?
    -Centralized databases can be hacked and data can be stolen. They also own your data and can sell your data to cambridge without your agreement so it kinda sucks.
#86

Decentralised network is a global where trust is in the math and protocols. Because of this it increases security and cannot be hacked nor controlled.

It is dangerous to trust a central network because these types of networks do no communicate with other networks. There are vulnerable to hackers and proprietary controls.

2 Likes
#87

Thank you for the corrections!

#88

It increases security because data has to be verified by the network before it is accepted. Once accepted it can only be altered with the consensus of the network.

It is dangerous to accept a central authority because only the central authority sets the standards for the protocol.

#89

I am experiencing this issue first hand with CoinBase.
The fix is to put all in cold storeage

#90

I listen Ivan with my cup of coffee every morning, but only started a month ago. I feel like a baby in the dark.

2 Likes
#91

  1. Decentralized network can increase security in integrity of the data that no one can alter the data, another one is the availability of the network that we can sure that if something happened to the server it will not effect to our data or services.

  2. Central authority is dangerous because that have all ability to do whatever they like, they can alter your data or traffic to make your data insecure. Your data is not safeeeeeeeeeeee!!!

#92

  1. Physical security is based on observation, example, people own camera’s; but who watches their camera’s 24/7? If you had your entire neighborhood incentivized to watch your security camera’s when-ever possible your physical security, based on observation, would be very strong. The more eyes on a project with the same goal, to assure honest transactions, the more likely security will be maintained.

  2. It is dangerous to trust central authorities because of the human condition. People are capable of great good and great evil, and often choose to do evil because they are incentivized to do so by the current structure of systems. A centralized system is based on trust and must then be based on belief. Trust and belief can and are often misplaced.

#93
  • How does a decentralized network increase security?
    nodes verify transactions and authenticate network.
  • Why is it dangerous to trust a central authority for security?
    The central authority can pull your pants down at any given moment!!
    Hold on tight to yours and go decentralised!!

has the answers

#94

  1. All nodes store the entire data which makes it a lot more difficult for anyone to modify anything as any amendment would be challenged by the rest of the nodes.

  2. Because all your data depends on the security of that particular central authority. If their security fails, your data is lost or compromised.

#95

Decentralization means only you control and own your data, to be centralized, you are giving yo that control. Thereby trusting they will not shut down or closed you out of the network,

#96
  1. There is not a single central authority but a network of nodes. Don’t trust, just verify!
  2. A central authority can have it’s own agenda and mess up your security.
#97
  1. Decentralized network increases security because it is trustless. We trust the math and protocols because a decentralized network cannot be broken, cannot be bribed and cannot be hacked. It gives us security on a global level. The same infrastructure is used to build applications on. We have a global database opened to everyone to check and build on.
  2. A central authority can be manipulated. The database can be changed, hacked and the authority can be bribed!
#98

  1. How does a decentralized network increase security?
    There is no one specific target to hack. You have to hack more than 50% of the computers in the network to change the ledger erroneously.

  2. Why is it dangerous to trust a central authority for security?
    It can be hacked. And a authorized actor can write what ever he or she wants to the ledger.

#99

  1. There is no single point of failure. Majority determine the truth therefore as long as 51% of the nodes are good actors will be able to secure the network.

  2. In case of hack, the integrity of the whole database will be compromised.

#100

Decentrailzation increases security simply because it is out of the control of indiduals,
organizations and or governments.

To trust a central authority with security means you are trusting the above said with information
that they control.