Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2311
  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)It is important for Blockchain to be highly available if it wants to work as a global financial system. It should be running 24/7.
2)This high availability is based on the financial intensive brought by mining. Running the network leads to financial compensation, so in theory, there will always be enough people to take this opportunity, because humankind is innerly driven by money.

1 Like
#2312

1- because you need access to any transaction at anytime.
2- unless all power is entire word is off (which is impossible). the blockchain network will be up no matter what. that why Blockchain network is a such high availability.

1 Like
#2313
  1. To keep the blockchain unbroken and immutable, the network must stay ā€œaliveā€ with no interruption.
  2. Miners are incentivized, and will be replaced if they fail. Because everyone wants to make money.
1 Like
#2314

1- In a global market everyone needs access to the network at all times.

2- Block rewards provide miners incentive to provide processing power. Less miners on the network results in reduced mining difficulty and higher returns for other miners seeking to join network.

1 Like
#2315

  1. Because this is a non-stop performing system.

  2. Mining enable the system to be protected.

1 Like
#2316

1. Why is it important for blockchain networks to be high availability networks?
In order for many businesses to operate efficiently they have to have access to their data 24/7/365.

2. What is it that enables blockchain networks to have such high availability?
Many nodes participate in network because of mining incentives. These are stronger (mining is more profitable) when thereā€™s smaller number of nodes, thus attracting more participants and increasing the number of nodes.

1 Like
#2317
  1. Blockchain are available 247365 time period. As the data is accessed by people all over the world in different time zones as wll so the network must be available throughout.
  2. Due to incentivized rewards miner keep the node running and contribute to itā€™s availability as a whole.
1 Like
#2318
  1. in this way, no geographic limitation, it serves globally and everyone.
  2. valuable incentives for people who are involved in mining
1 Like
#2319

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    This is how people make money (via mining) and have access to their funds.
  2. What is it that enables blockchain networks to have such high availability?
    It is a combination of being globally distributed over a large number of nodes, and the mining incentive to step in when other nodes go down.
1 Like
#2320

  1. Why is it important for blockchain networks to be high availability networks?
    This is important for consensus and also for usability. If people find the network down, they wonā€™t want to do time critical financial things on it. And finance is always time critical.

  2. What is it that enables blockchain networks to have such high availability?
    There are incentives built into the system. When parts of the network are knocked off line, incentives such as mining are automatically increased. So more people start mining to due the incentive of financial gain.

1 Like
#2321
  1. Why is it important for blockchain networks to be high availability networks?

In this way the network can be used 24/7/365 around the globe.

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

Incentives through mining

1 Like
#2322

  1. Why is it important for blockchain networks to be high availability networks?
    To be able to access it anytime anywhere in the world

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

Mining 24/7/365 available

1 Like
#2323
  1. So everyone in the world can access then 24/7. Also, as a payment network it is important to work all the time.
  2. People are incentivized to keep it running.
1 Like
#2324

1it builds trust and is safe to believe it will always be available as long as people use and feel incentivise.
2 the incentives of making money will keep computers online to play node.

1 Like
#2325
  1. Why is it important for blockchain networks to be high availability networks?

We all want a network that never stops working, we need something that is always there functioning as it has to.

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

Mining, all those computers around the world validating the blocks keeps the network working.

1 Like
#2326

  1. It is important for blockchain networks to be in high availability networks because it is global and for you to make money you need it to be in high availability.

  2. Having blockchain networks up 24/7 365 days a year enables it to have such high availability.

#2327

Why is it important for blockchain networks to be high availability networks?
Security is the fundamental reason, this is achieved through the computational power from miners and nodes. Both providing consensus and reliability, the more computers serving the network the more security and reliable it is.

What is it that enables blockchain networks to have such high availability?
Nodes enable blockchain networks have high availability, so it wont matter if one goes down as there is a copy of the ledger on all of the other computers.

#2328

Most importantly, itā€™s because people like to make money mining bitcoin that keeps the network being alive and confirming transactions into blocks.

1 Like
#2329
  1. Because they need to be ā€œrunningā€ 24/7/365. If the network stops, so do the transaction.
  2. Incentives to earn money through mining
1 Like
#2330

1 Because if it wasnt available all the time it wouldnā€™t be s useful and it wouldnt be reliable
2 Miners all across the world are keeping the system going

1 Like