Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2331

  1. Why is it important for blockchain networks to be high availability networks?
    The blockchain networks are spread across more region, it’s more reliable and possible for people of around the world to make money.

  2. What is it that enables blockchain networks to have such high availability?
    The permission-less blockchain networks make it possible for everyone to run node all around the world 24 hours each day.

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#2332

1- To keep it safe and able to make transactions any time.
2- The rewards or incentives that miners get.

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#2333

  1. Why is it important for blockchain networks to be high availability networks?
    *To eliminate potential points of failure it must be available 24/7/365

  2. What is it that enables blockchain networks to have such high availability?
    *Nodes and Incentives

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#2334

2.Because people will always be mining, when are bunch of miners stop mining, more miners will take there place. So its always be online.

1.The higher the security when availability is high.

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#2335
  1. Why is it important for blockchain networks to be high availability networks?

If you are going to have a financial network you have to be able to use it at all times. If you use blockchain for something else, like medical records, you also have to be able to acces it at all times.

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

If one computer goes off-line a new computer will take its place. People can make money by helping to keep the network going

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#2336

  1. It’s important for blockchain networks to be high availability because it has a 365 infrastructure to meet on a global level versus by country or continent.

  2. Incentive. There’s a monetary incentive to be honest and mine; and the mining allows for high availability because if one computer goes down another comes up to get the network and the monetary incentive is the driving force.

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#2337
  1. Why is it important for blockchain networks to be high availability networks? Blockchain network access is 24/7 and always running 365 days/year.
  2. What is it that enables blockchain networks to have such high availability? Miners are incentivized to contribute to the consensus of the blockchain network in order to make money, virtually ensuring that the network will always be up and running.
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#2338

  1. because high availability networks means more use cases globally and it is open to public and everyone unlike central and private networks which can be used for certain people and organizations.

  2. it can be via opening to public, rewards (mining or staking), and globalization (never sleep).

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#2339

  1. Because it makes them highly accessible to anyone in terms of not only payments, but also for the making money in the form of mining, which also helps secure the network at the same time.

  2. The fact that it is so accessible, that it never shuts down and is always going.

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#2340

  1. The importance for blockchain networks to be high availability networks, particularly decentralised blockchain networks, is so that there can be global participation in different time zones. Also, as we start to rely more and more on blockchain for trust, value transfer, credibility, authenticity and accurate record keeping, the negative consequences of unavailability increase.

  2. Decentralisation is the main reason that enables blockchain networks to have such high availability. Functionality is not limited to any single point of failure.

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#2341
  1. Why is it important for blockchain networks to be high availability networks?
    bc as a global network people expect/require access 24/7/365.
  2. What is it that enables blockchain networks to have such high availability?
    via incentives to miners
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#2342
  1. High availability is most important to keep the international financial system or any other applications based on blockchain functional.
  2. Mining is what incentivizes high availability. If part of blockchain network goes down, it becomes easier for other computers to join network and start mining. In blockchain each computer caries copy of all transactions, so the risk of getting the network down decreases.
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#2343

  1. Why is it important for blockchain networks to be high availability networks?
    If blockchain is the tool with which we connect global markets, high availability networks allow for a 24/7/365 availability of transactions. This means that regardless of where in the world people are, or which timezones they live in, they could always have a network that is open and available to them.

  2. What is it that enables blockchain networks to have such high availability?
    GREED. Hahah. With incentives being given to miners and validators to keep the blockchain alive, the blockchain will always live so long as human greed continues to live. And as history has shown, human greed will never reach its end.

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#2344

1. Why is it important for blockchain networks to be high availability networks?
It’s being used 24/7 all over the world

2. What is it that enables blockchain networks to have such high availability?
Everyone can basically join. On different locations. all the time. To add to that availability.
And there is a massive surplus capacity because of the rewards.

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#2345
  1. Money should be available 24/7. millennials/gen z aren’t gonna tolerate less
  2. They are global & mining makes people wanna always are online
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#2346
  1. So financial transactions can always occur. Also so the record of transactions can always be accessed.
  2. People have incentive to protect the network because they make money when they protect the network.
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#2347

  1. Why is it important for blockchain networks to be high availability networks?
    It is important that blockchain is high availability because a lot of people are using it on all the time

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain networks are able to have such high availability because people are incentized to make money all the time

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#2348
  1. To make it a usable and reliable network for transactions
  2. Incentives for people to make money. Therefore, many people participate in the network contributing computer power, boosting the availability and security of the network
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#2349

  1. Why is it important for blockchain networks to be high availability networks?
    In order to maintain provenance and concensus of real-time transactions to keep in place, the blockchain networks must be available at all times.

  2. What is it that enables blockchain networks to have such high availability?
    The incentives for the nodes to remain operational, like tokens.

1 Like
#2350

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Some applications require it in order to be efficient, for example the global financial system

  2. What is it that enables blockchain networks to have such high availability?
    Mining … Financial incentives that keep the network up and running

1 Like