Homework on High Availability - Questions
To maintain data integrity and usability.
Redundancy of a common distributed database across many nodes.
As a global infrastructure it needs to run 24/7 365 days a year to provide security to the network and be available to work in.
World is driven by money, if there is an incentive to have something working 24/7 365 days it will work. Even if there is a variation in incentives, some will go way what opens the door for others to join. The incentive create a cycle that maintains the network available.
It’s important for blockchain networks to be high availability networks because it increases revenues for companies. It’s a 24/7/365 availability providing a global market with stability.
The mining for blocks enable high availability as they are global.
High availability provides globally distributed computational power to secure the network, ensuring security and building trust through consensus.
Financial incentives, which are provided through mining.
Why is it important for blockchain networks to be high availability networks?
It’s an incentivized network that is never off-line
.What is it that enables blockchain networks to have such high availability?
Because the blockchain relies on a decentralized network it always has the ability to stay online.
1)It is a global network high avalaibilty networks are needed to ensure the blockchain functions the way it does.
2)financial incentives enable this, usually in the form of mining which is how the network is protected and how people make money maintaining the network.
It is very important for blockchain networks to be high availability networks to provide maximum potential for mass consensus.
Financial incentive enables blockchain networks to have high availability.
Why is it important for blockchain networks to be high availability networks?
Ans. In order to provide non-stop incentives globally to ensure consistent investment and trading opportunities which ensure peak utilization and opportunities.
What is it that enables blockchain networks to have such high availability?
Ans. By design in which allows the network to be available 24/7 non-stop in operation.
High availability is understood by anyone who has tried to do banking under a centralized system just to discover the website was down for what ever reason. This causes delays in transactions and requires trust by merchants and consumers alike. it also means we have a lot of reconciling of accounts. where when the network has a high availability transactions are reconciled with in minutes not " up to 10 business days" as what account holders experience today.
The best part of high availability of the network is you know with in minutes what your balance is and this is accomplished by thousands of freelance systems across the globe checking each others work. This is similar to proofreading and fact checking insuring the work passes the standards before accepted.
Because it makes peaple incentivized to keep it alive.
Beacause every one wants to make money.
Sorry got my answer mixed up.
Because it helps your app run 24/7/365.
It’s because of incentives.
It is important for blockchain networks to be high availability networks because the level of security of the network relies on the availability for people to be active in the network.
Blockchain networks are capable of having such high availability because those who are active in maintaining the security of the network are incentivized financially to keep it running.
These answers were based on my interpretation of the video, please clarify if I have misconstrued any information.
The importance is so that everyone around the world can have access to the blockchain at any time of the day or night. This is what makes this technology very very appealing.
Miners is what gives the networks high availability.