Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2210

  1. It’s important that blockchain networks are high availability networks so that anyone anywhere in the world can have equal access to the blockchain.

  2. People are incentivized by the desire to make money in a secure network. This is made possible through the blockchain. Access to the blockchain is open to all and is available 24/7/365.

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#2211

  1. The higher the availability, the more people that can use it.

  2. Blockchain has a very high usability because if a portion of the network goes down, it can still operate like normal. New miners are incentivized to replace the old ones.

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#2212

  1. for use across time zones when buying and selling.

  2. Internet - all blockchains are on the internet.

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#2214

Incentives. But I still don’t know if political pressures can impact this. When the dummies catch on, I wonder about regulations. I doubt it can be stopped now, honestly. But when power gets threatened it’s a consideration.

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#2215

Maybe I’m off here. I tend to wonder off on tangents.

#2216 
1. It is important for blockchain networks to be high availabilty networks because they are required to work 24/7 as they are servicing the globe.

2. The miners enable blockchain networks to have high availability.
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#2217

  1. Why is it important for blockchain networks to be high availability networks?
    Because users are located all around the world and it needs to be available 24/7 365 days/year.

  2. What is it that enables blockchain networks to have such high availability?
    The incentive and rewards of mining encourage people to support the network The other reason is that it is decentralized and distributed so if one node goes down and they others remaining to keep the network online.

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#2218

1- As a blockchain is a continous ledger of all transactions, downtime would not be possible. Downtime could compromise the security of the ecosystem
2- They have high availability because they are so decentralized and because they are incentivised. The incentives creates a system where additional miners will join if the difficulty drops, and less will mine as the difficulty increases and makes it less economical

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#2219

1.Global digital world these days never sleep, people use it non stop. So high availability is of blockchain network is one of key features to be globally successful.

2.Global digital world these days never sleep, people use it non stop. So high availability is of blockchain network is one of key features to be globally successful.

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#2220

How does the blockchain network achieve that? :slight_smile:

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#2221
  1. Higher availibity means more transactions verified on the blockchain, more provenance, consensus, security & immutability.
  2. Unlimited connectivity and mining
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#2222

Decentralization gives to blockchain such high availability. If is problem in any part of word and some nodes are switched off, rest of network will run without problems. ( network may adjust difficulity to reflect change of hash power)

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#2223
  1. Why is it important for blockchain networks to be high availability networks?
    High availability is because the more nodes are mining the more verifiable.
  2. What is it that enables blockchain networks to have such high availability?
    Incentives enable Blockchain to have High Availability.
1 Like
#2224
  1. It is important for blockchain networks to have high availability because “everyone wants to make
    money”!
  2. The blockchain networks have such high availability because they run 24/7 and are shored up by other computers if one or more go, down.
2 Likes
#2225

  1. Because constant exposure and continuous availability for verification provides trust and security.

  2. It is their decentralization. Because of it the availability is independent from any one party involved, relying rather on the involvement of the participants itself.

1 Like
#2226
  • Why is it important for blockchain networks to be high availability networks?
    high availability makes sure that more contributors are mining and mining increases security. The more mining happens, the more difficult it is.
  • What is it that enables blockchain networks to have such high availability?
    its guaranteed by the fact that people want to make money and being on the network is incentivised.
2 Likes
#2227

1- High availability is important for blockchain networks to ensure there are always enough validators on the network to maintain security and keep it usable

2- high availability is enabled by financial incentives rewarding the contributors to the network

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#2228

  1. Why is it important for blockchain networks to be high availability networks?
    Increases the speed and with an 27/7 econmy ist needed and also for reilability

  2. What is it that enables blockchain networks to have such high availability?
    financial incentives, when parts of network goes down it becomes easier to mine and availablity increases.

1 Like
#2229
  1. Because it runs globally and accessible 24/7/365
  2. Decentralization of nodes and incentives for miners (people who maintain blocks)
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#2230
  1. The importance of high availability is a 24/7 365 network.
  2. They are enabled by miners who work to secure the network and are financially rewarded for their work.
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