Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2150

  1. To ensure high security for the system on a global level. As well as being able to be accessed no matter where you are in the world and the time of day.

  2. The financial incentives provided due to mining keeps users mining which helps the system perform accordingly.

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#2151

  1. Blockchain could be run across the globe with no disruption 24/7 without any disruptions.

  2. Everyone is incentivices to keep the blockchain running through a system called mining.

#2152

  1. It is important for blockchain networks to be high availability networks because the more miners and nodes you have the more secure it will be.

  2. The fact that it is running 24/7 and is incentivized makes it highly available and interesting.

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#2153
  1. So that financial systems can run on top
  2. Miners
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#2154

1.no time for shut downs :wink:
2. incentives

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#2155
  1. Why is it important for blockchain networks to be high availability networks?
    A dropping network creates difficulties in sensitive applications for industry, financial system and individuals.
  2. What is it that enables blockchain networks to have such high availability?
    The miners are protecting the blockchain, that it doesn´t go down. They are motivated by earning bitcoin.
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#2156

-To allow Transactions at any time.

-Financial incentives

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#2157

[quote=“ivan, post:1, topic:8426, full:true”]
Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    To allow transaction anytime anywhere non stop
  2. What is it that enables blockchain networks to have such high availability?
    The fact that is decentralized and has many participants allows to have always enough validators to transactions
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#2158
  1. Why is it important for blockchain networks to be high availability networks?

Because it needs to be available 24/7/365

  1. What is it that enables blockchain networks to have such high availability?
    Decentralization, miners
1 Like
#2159

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    It is important for the blockchain networks to be available at all times so that users from all over the world have ready access to the transaction whenever it is needed. No downtime means good business.
  2. What is it that enables blockchain networks to have such high availability?
    Financial incentives to the blockchain miners enables the blockchain to be available at all times
1 Like
#2160
  1. It is important for blockchain networks to maintain high availability so that it is always accessible to anyone from anywhere at any time. This makes blockchain very dynamic and revolutionary.
  2. Blockchain’s high availability is a result of its decentralized nature, and how it is being run on nodes who’s owners are incentivized to keep the node running at all times.
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#2161
  1. Why is it important for blockchain networks to be high availability networks?
    Because people want to make money all over the world. Therefore it is important to be available 24/7.
  2. What is it that enables blockchain networks to have such high availability?
    If people have incentives (earn money by bitcoin) to work with the protocol, than they do not want bounderies in their earnings cause of time. Mining keeps the network running for 24/7. That is nice for people who want to build on it (for example applications that needs to run 24/7).
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#2162
  1. For a “currency” to compete at the highest level, it must be available globally 24/7/365.
  2. Block rewards to incentivize miners to do the work to keep blockchain performing optimally.
#2163
  1. global network available 24/7 365 days.
  2. everyone wants to make money so miners get incentive to participate in network.
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#2164

1 - It needs to be accessible at anytime for any transaction or validation needed. because it is global.

2 - Users/computers are rewarded to keep the network alive, by means of incetives.

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#2165

  1. Why is it important for blockchain networks to be high availability networks?
    = High availability makes the network accessible at all times. It also increases the security of the network as more computers verify the data.

  2. What is it that enables blockchain networks to have such high availability?
    = Incentives, when some computers disappear, others see the opportunity to make money.

1 Like
#2166

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

 Because it enables information to be accessed and used worldwide at
 any time.  This enables access and usage for anyone, anywhere, any time.

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

 The worldwide network of nodes and miners which run the blockchain
 24/7.  As a result of this, the network never closes or goes offline.
2 Likes
#2167

  1. So there is no off switch. Whenever the stock market is collapsing (meaning, stocks are finally going on sale) the Wall Street Stock Exchange steps in with their centrally controlled off switch and closes the exchange. There is no off switch in the blockchain network and this kind of manipulation is not available to meddlers.

  2. The network is decentralized and so it is independent of any centralized processing centre or server room. The network always continues to operate because of the redundancy of having so many separate and independent nodes running the protocol. This also means the network is never down unless the internet itself is down (such as during a natural disaster).

1 Like
#2168

  1. Why is it important for blockchain networks to be high availability networks?
    High availability allows for global participation as markets are always open when you are available to do business. This allows crypto to have larger TAM.

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain networks operate on a decentralized networks allowing them to run 24/7. The base code running blockchains never sleeps or needs brakes. The math is what enables blockchains to have such high availability.

1 Like
#2169

  1. Why is it important for blockchain networks to be high availability networks?
    Availability needs to remain high to allow constant interaction throughout the world for transcations - no matter the time, place or weather.

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

1 Like