- This is because the aim is for all nodes or computers to have complete access.
- Connected nodes contributing a combined computing power.
It’s important because it’s best to have access to the data 24/7/365. The infrastructure is global so it should be available at all times.
The blockchain makes all data available at all times. Since the blockchain is decentralized, if some parts are not running, there are always other nodes that are running.
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Why is it important for blockchain networks to be high availability networks?
High availability is required for a global infrastructure because global activity never sleeps. The network is required 24/7 and 365 to be functional across the globe and this availability is important in many industries, the financial industry being just one example. -
What is it that enables blockchain networks to have such high availability?
The never ending supply of people wanting to make money is essentially what makes the network have high availability. As people are financially incentivised to keep the network alive, there will always be computers ready to join the network if any portion of it goes down for whatever reason.
1 - So that the cashflow can keep going 24/7/365
2 - Miners
1.To have a secure global financial system the blockchain infrastructure can not be offline.
2. Mining enables this with its protection of the network and with the incentives of profit.
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Why is it important for blockchain networks to be high availability networks?
Availability 24/7/365 allows transactions to be made any time across
all time zones. People can make money anywhere at any time, while protecting
the network. Countless applications built on top of currency apps will be vital to
an open, secure Global Financial System. -
What is it that enables blockchain networks to have such high availability?
Mining establishes protection and security of the network. Miners can also make
money while protecting the network. High amounts of miners increases mining
difficulty but also increases network security. The converse also holds true while
mining numbers and difficulty can cycle. However, people everywhere want to
make money all the time.
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To be able to serve the entire planet, with all the different timezones, it needs to have uptime 24/7.
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With the distribution of validators/computing all over the planet, even if those whent down in some regions, it will still be served by those remaining in other regions. These nodes are financially incentivised to have as much uptime as possible.
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They must be easily accessed always, 24/7 and 365 days a year.
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Incentives! Miners are incentivized to participate in the network. Miners like money. Less miners means the difficulty decreases and new miners are incentivized to begin mining.
- Why is it important for blockchain networks to be high availability networks?
In order to be up and running 24/7/365 and allow transactions to be truly borderless and time zone less. The network is always running and protected, which is important when dealing with services such as finance. - What is it that enables blockchain networks to have such high availability? Money made from mining incentivies a high amount of miners to continue mining and effectively keep the network running and also increase network security
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It is important for blockchain networks to be high availability networks so they can be accessible continuously for 24 hours per day / 365 days per year.
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Blockchain networks have such high availability because of the network participants that are intencivied to support it. Even if some participants have some technical ssues with their machines, they will be quickly replaced by other machines that want to join the network ASAP to benefit from lower mining difficulty that will result in higher returns.
Homework oh High Availability - Answers
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To have High Availability blockchain for 24/7/365 have people want more money.
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Blockchain has such a high availability because it is one of the longest living networks therefore mining protects it while making money.
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It is a global network used for global transactions through the internet, therefor a secure global infusrtructure is crucial.
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Miners who are financially incentivized to protect and maintain the network. as well as the network itself being decentralized.
- Because of incentives, everyone wants to make money so the network has to be highly available. Activeness of the network brings money to miners and miners make the network available.
- Miners who earn money make the network available. Also no need for central database. Blockchain even when large portion of computers die will regenerate because of incentives from mining=making the network available and safe.
- Why is it important for blockchain networks to be high availability networks?
- It is important to have 24/7 availability because it provides more computational power to the blockchain, which in turn makes the network more secure
- What is it that enables blockchain networks to have such high availability?
- Financial incentives, through mining. Mining is the process by which transactions are verified and added to the blockchain. In return for doing this, the miners are rewarded in Bitcoin
- Why is it important for blockchain networks to be high availability networks? Because everyone wants to make money.
- What is it that enables blockchain networks to have such high availability? Desire to make money.
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Why is it important for blockchain networks to be high availability networks?
Because transactions happen anytime/anywhere so it has to run 24/7 * 365 days. -
What is it that enables blockchain networks to have such high availability? Mining enables the network for high availability because people are incentivized to do so.
Why is it important for blockchain networks to be high availability networks?
High availability means there is nodes in the network 24/7/365 days a year mining new blocks, building layers of security and consensus. The fewer nodes in a network the higher the vulnerability,
What is it that enables blockchain networks to have such high availability?
Rewarding nodes for never going offline
1- Pretty much no other network has that much uptime, which makes it unique and more reliable
2- Non stop incentives, no egulations that close the market and no reason to stop
- It’s important so it can be adopted globaly.
- It’s built on a huge number of miners motivated by money to keep the network going.
- Like BTC, it is working 24/7/365. Blockchain network is used for these types of transactions. Also the goal would be to become a global database, therefore needing high availability.
2.Blockchain networks have high availability because everyone wants to work and make money. Everyone is incentivized because they want to keep it alive.