Homework on High Availability - Questions

Blockchain and Bitcoin 101
#182

1. Why is it important for blockchain networks to be high availability networks?

The general architecture of blockchains is well suited for high availability scenarios, because they are designed to avoid single points of failure. Each node within the blockchain network has the authority to create blocks, therefore the network is able to operate continuously if at least one node is working.

2. What is it that enables blockchain networks to have such high availability?

The basic principle for creating a high availability network is to run several nodes on separate systems with separate network connections in separate locations. All of these nodes should be connected to the blockchain’s peer-to-peer network. In order to function as substitutes of each other, the nodes should share private keys and keep their watch-only addresses and subscriptions in sync.

#183
  1. Because everyone takes money seriously. 2. 24/7, 365 infrastructure. Incentivized consensus.
#184
  1. Why is it important for blockchain networks to be high availability networks? This allows the network to be accessed at all times and serve a global financial system and others global application demanding high availability.
  2. What is it that enables blockchain networks to have such high availability? Decentralized mining in combination with a self adjusting mining difficulty allows the network to high availability. No single failure in the network will compromise its functionality.
#185

1- Because it enables to use the services provided by the network 365/24/7. Never has existed such a network.

2- There is a system of economic incentives that push miners to mantain the network alive and secure. If some miners have to stop and the network security decrease automatically the incentives to become a miner and to maintain the network increase and new miners replace the old ones.

#186
  1. If we want adoption, the availability needs to be 24/7/365 to accommodate the entire world.
  2. Again it is a worldwide network and it is incentivized to make money.
#187
  1. Use cases may need it. In crypto trading happens 24/7. If blockchain is used outside of crypto then companies might still want to have the DL running for proof of provenance.
  2. Mining, as you explained if mining goes down it will go up again because it becomes easier.
#188

1-Global network needs to run 247 365 days per year
2-Enabled by people wanting to earn income

#189

  1. Bitcoin has never gone offline. This means that everyone is incentivized to keep it running. It united everyone to make money. This makes it an excellent global financial system since it is always available for trade.

  2. Mining increases the security for the system and creates incentives for everyone to keep and protect the system and make money out of it.

#190

  1. Why is it important for blockchain networks to be high availability networks?
    Since the users of the network are providing and exchanging actual value, it needs to be always available and downtime would be catastrophic.

  2. What is it that enables blockchain networks to have such high availability?
    Incentives/rewards are shared to the miners for keeping the network always available by constantly mining the blocks.

#191
  1. Why is it important for blockchain networks to be high availability networks?
    Because people have to trade in the world and you need 24/7/356 network that you can trade at anytime.
  2. What is it that enables blockchain networks to have such high availability?
    Miners ensures high availability of the network and in return the get incentives.
#192

1: Because we all want to be as efficient as possible, and a distributed ledger can provide that.
2: You get rewarded for keeping the network up 24/7/365.

#193

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks? IT’s a Global Network that is always open. Everyone is incentivized to keep it rolling as it’s the most perfect financial system.
  2. What is it that enables blockchain networks to have such high availability? $$$$ Miners, there are plenty of people who want to make that money 24/7/365
#194

1, for a global network to operate at anytime the infrastructure needs have maximum up-time to function in a trustless manner.

2, the decentralised nodes and mining utilising proof of work for validation and incorporating an incentivised rewards system for constant validation.

#195

  1. It is important for blockchain networks to be high availability networks so that people can always have access to their value and can have confidence they are not losing anything, anytime, anywhere.

  2. Incentives of making profit is what motivates people and enables blockchain networks to have such high availability.

#196
  1. because some businesses or applications will be more efficient if they never shut down. More money will be potentially made. Security will be better.
    2)miners are incentivized to keep the network going securely 24/7.
#197

  1. Blockchain networks need to be a high availability network to meet a global demand.

  2. Being decentralized and having incentives keeps participants in the network and the network going by always having multiple participants running the network all over the world.

#198
  1. For use cases that need high availability, blockchain is the best option. For example, bitcoin is the longest running network and is available 24/7, 365 days a year.
  2. The miners are what allow blockchain to achieve high availability. If a portion of the network dies other nodes or miners join in.
#199
  1. Critical applications using the blockchain need to be running 24*7, 365 days a year.
  2. The miners have financial incentives to maintain the network.
#200
  1. Why is it important for blockchain networks to be high availability networks?

Because then blockchain networks will never get down.
2. What is it that enables blockchain networks to have such high availability?
Miner. And theirs reward for what they are doing

#201

1.** Why is it important for blockchain networks to be high availability networks?*
2.** What is it that enables blockchain networks to have such high availability?*

  1. To be globally available 24/7. The system is always functioning and never down.
  2. Miners who are incentivized by $ keep it highly avaialble. The relative difficulty & profitability of mining keeps an equalibrium of the amount of miners working at any given time.