Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2049

Ans.1) Block-chain security protocols are reinforced through shared operations. Decentralized networks of computing power maintain stable and secure data verification and validations. The higher the availability of this network’s operation (24/7 & 365 days), the more collective computational power that is being generated to provide a safe, secure environment in which the fully encrypted code functions, as a security partition layered protocol, which ultimately offers a constant outstanding value data protection system. These protections afforded by block-chain are what I would like to call "keeping your assets away from your adversaries."
Ans.2) The block-chain and it’s operations are dependant on the process of value transfers and secure storage of data, which in my opinion is, DATA the new currency, and secondly, the immutable security of the network and it’s stored data. Satoshi Nakamoto resolves this issue by incentivizing miners to perform proof of work processes with payment allocations for all completed transactions.

You may say, what happens when all the coins are created through proof of work? Get ready! You will and now even can begin to take those coins that you’ve accumulated in your own possession and stake them for supporting this “high availability network.” Thus partaking in building, developing it out even further for increasing necessary disruption, and overall, the continued operations of this network participation for future growth value. Oh, and by the way, you’ll also be handsomely rewarded for your staking contributions…the future looks bright! Let’s all get positioned for the “unfair advantage that Ivan is talking about!” Peace…

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#2050
  1. Why is it important for blockchain networks to be high availability networks?

It is global. Somone, anywhere may wish to use it. If it is not there when they wish to use it, confidence drops, users drop, number of nodes drop etc impacting the security.

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

Incentives of a financial nature. The incentives drive the mining, to create the new blocks. If the number of miners drops, security becomes weaker, which encourages others to start mining, increasing the number of nodes again (and security levels). Number of nodes drives the high availablity as no single point of failure.

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#2051

  1. it makes them much more reliable, and because they carry value.

  2. There are many computers already in the network and many other willing to join if necessary because of its financial incentives through mining.

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#2052
  1. Simply stated… Everyone wants to make money.

2.high visibility is achieved by: being available 24/7 and 365 days a year.

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#2053
  1. for a global infastructur this is key. this way the network is attractive for peolple to join.
  2. incentives. people are incentivized to keep the network running
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#2054
  1. To ensure availability at all times.
  2. That fact that your relying on a single entity to be working. Even if a whole country looses power the network remains active globally
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#2055
  1. Why is it important for blockchain networks to be high availability networks?
    To secure the network and people can access and use the networks anytime.
  2. What is it that enables blockchain networks to have such high availability?
    Because everyone (computers) is incentivized to keep the networks availability
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#2056

1 Because every mili second, year around , the world its making transactions, every one have to have access the use of blockchain network for verifin, its is also important to maintain incentives to miners.

  1. Incentives, miners.
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#2057

  1. Why is it important for blockchain networks to be high availability networks?
    With the aim of being a global payment system and value storage mechanism then it would have to be up blockchain networks MUST be up 24/7 since people will want to make transactions whenever they choose and not simply whenever a network is up.

  2. What is it that enables blockchain networks to have such high availability?
    Through the network effect. Nodes are running through incentivization to be kept up

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#2058
  1. Why is it important for blockchain networks to be high availability networks?
    A. They have to maintain up time to verify transactions.
  2. What is it that enables blockchain networks to have such high availability?
    A. Their are incentives in place to have people maintain the network which keeps it available.
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#2059
  1. Because it is a global network and transactions must be able to be made 24/7/365.
  2. Financial incentives- to make money
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#2060

1- because it become easier and more accessible and more secure

2- The rewards when people mine

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#2061

Why is it important for blockchain networks to be high availability networks?
Blockchain networks an be accessed 24/7 and 365 days/year, they require high availability because a new block could need creating at any time and a node would need to be available to read the public ledger.

What is it that enables blockchain networks to have such high availability?
Because miners are incentivized to participate in the network. Everyone wants to make money.
Incentivisation gives the network high availability.

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#2062
  1. Why is it important for blockchain networks to be high availability networks? Because it secures the data on the blockchain 24/7.
  2. What is it that enables blockchain networks to have such high availability? When one computer fails another one starts mining.
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#2063

  1. Blockchain networks are global and thrive off of high usage.

  2. Financial incentives to keep the network going.

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#2064

  1. It is important for blockchain networks to be high availability networks as such industries as the global financial system and other industries who wish to build applications on this network will need it to be a 24/7/365 infrastructure.

  2. Receiving incentives through a method such as mining enables blockchain networks to have such high availability. As there are more miners it get’s harder to mine and may not be worth it to mine and miners may drop off. As miners drop off, it gets easier to mine in turn easier to earn incentives as there are less miners. Miners help protect the network. It becomes a cycle in which miners drop off and then enter back in therefore stabilizing/evening out the network.

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#2065

  1. It is important for blockchain networks to have high availability because it is a high demand and worldwide 24/7 market that needs constant network connection. Also, being a 24/7 market increases security.

  2. Blockchains are ran worldwide on all time zones, people are identified to mine blocks because of the monetary reward for mining keeping the network going. Mined blocks are added to the blockchain.

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#2066

1: because it needs to be available at all time so like a centralised database people can use it whenever it is needed
2:incentives as the usage of a blockchain system becomes less people are encouraged to use the system (with incentives) it which makes it the security stronger again

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#2067

  1. Uptime is crucial for any application! The decentralized nature of blockchain eliminates single points of failure that are often present in centralized solutions.

  2. Mining often encourages more nodes, and now proof of stake/authority/trust/etc are offering multiple node validations that continue the immutability of the ledger being used.

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#2068

Homework on High Availability: Questions & Answers

  • Because we live in a global society, and markets are needed 24/7.
  • Its global infrastructure and its strong incentives keep network participants committed to the network.
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