Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2351

  1. People need to use it 24/7 so therefore it needs to be available.

  2. Incentives, people get rewarded to keep it running all the time.

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#2352

  1. It is important for blockchain to be high availability, so it never stops working and is accessible 24/7/365. It is one of the qualities that blockchain can offer and f.e. you donā€™t have to wait for a working day and working hours to get information that you need, because blockchain is online all the time and highly available.

  2. Blockchain networks have such a high availability because of incentives and mining.

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#2353

This important factor because high availability not only keeps it more secure, but itā€™s important to be available for transactions 24/7/365

Incentives and mining.

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#2354

  1. For any network to be adopted, it needs to be reliable and available.

  2. The is a correlation between the number of nodes and availability. If more nodes are present, then the network enjoys higher availability. And the higher the incentives, the higher the number of nodes.
    It is interesting to see how the proper incentives promote positive collaboration!

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#2355
  1. Why is it important for blockchain networks to be high availability networks?
    Because everyone want to make money and the blockchain users access the network from all parts of world day and night. So it is very important to make these networks running 24/7.
  2. What is it that enables blockchain networks to have such high availability?
    The distributed network enables the blockchain to be highly available. When a user/system is down, others can join and make the system highly available. The users are incentivised to join the network and keep the network alive.
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#2356
  1. Why is it important for blockchain networks to be high availability networks?

Blockchain networks need to have high availability as it is a global infrastructure. New blocks can be created at any one time and a node always needs to be available to read the public ledger. This ensures immediate public auditing and maintains the high security of the network.

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

Decentralisation ensures that there is no central point of failure that would bring down the whole network. If one portion of the network was to go down, others would join to maintain the high availability. Blockchain networks also incentivise miners through monetary gain to maintain the maintain 24/7.

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#2357

  1. In this information age,everyone wants access to data and information at their fingertips 24/7/365 readily available

  2. The decentralization system and the use of incentivization enables blockchain networks to achieve high availability.

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#2358
  1. To give access to everybody to the transparent blockchain 24/7/365.
  2. Mining incentives.
1 Like
#2359

  1. Uptime of a blockchain is imperative. Itā€™s a primary attribute to the point of a blockchain. Instead of trusting a centralized source, we trust a network. And if this network, especially a value-oriented one, has downtime and issues, there wonā€™t be much trust in that system. The blockchain is designed to survive both physical and virtual aliments. Monetary incentives (mining) promote and secure the network from attacks and downtime.

  2. Participants of the network are incentivized monetarily via mining to upkeep the network.

1 Like
#2360

1)The high availability is important due to the security that is needed, when one node fails the next will jump in.

2)Being rewarded for being part of the system motivates miners to keep the it going 24/7/365

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#2361
  1. Why is it important for blockchain networks to be high availability networks?
    Blockchain network such as a Bitcoin is a global network therefore to serve the whole global it need to run 24/7/365. Critical applications have to be on all the time.
  2. What is it that enables blockchain networks to have such high availability?
    mining enable blockchain network to have high availability. People are incentived to keep the network running.
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#2362

  1. Because they are global, need all over the world, anywhere at anytime.

  2. Incentivisation keeps it alive. 24/7/365

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#2363

  1. That no matter where you are, or what time is it, the system is available and functioning. It kills all the limits.

  2. It is incentivised, and obviously everyone wants to make money. That is why everyone in the network keeps running.

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#2364

  • Why is it important for blockchain networks to be high availability networks?
    Just because itā€™s available 24/7 makes it usable anywhere, anytime.

  • What is it that enables blockchain networks to have such high availability?
    Incentivizes miners to participate securing the network.

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#2365

  • Why is it important for blockchain networks to be high availability networks?
    Its important from a security and an up time point of view.
    The more people supporting a network the more resilient it is. I.e if a portion of the network goes down it can still operate.
    Business require 24/7 365 uptime now as business and systems needs are global.

  • What is it that enables blockchain networks to have such high availability?
    Incentives are the driving factor to making people support blockchain. Tapping into Humans greed and desire to acquire money helps persuade people to lend their energy and resources to supporting a network

1 Like
#2366

1.It is important for block chain networks to be high availability because everytime thereā€™s a transaction that is going itā€™s needed to be fully functional.
2.it is because of the incentives or incentive miners thatā€™s immediately replace everything thatā€™s missing depends on the demand.

1 Like
#2367
  1. It is always available (24/7/365), it increases the security and makes it reliable
    2 Designed to be rewarded if the network is protected
2 Likes
#2368

1.So that globally, everyone can compete. There is no down time because to keep the ledger accurate the transactions must be verified continuously across the network.
2. The availability of a global network enables miners and users and developers using the network to keep it functioning properly. The incentives of using the network draw people in and keep them in. If it does not, and people drop out, the incentives become more attractive to other people to join and fill the network to keep it running.

2 Likes
#2369
  1. So the network can be used for mission critical applications requiring 24/7/365.
  2. Nodes in the network are incentivized by mining.
2 Likes
#2370
  1. Our lives operate 24/7 and 365 days a year, so we really need our availability to finance to also operate on 24/7 and 365 days too.
  2. Incentive structure built within bitcoin and other cypto networks incentives participants to keep the system operating by offering them financial incentives via tokens received from mining.
2 Likes