Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2411
  1. Why is it important for blockchain networks to be high availability networks?
    -High availability means the network is always available - it is operating 24/7/365. This is important for a network to support, for example, worldwide financial transactions.
  2. What is it that enables blockchain networks to have such high availability?
    -High availability is achieved through incentives that allow people to make money by supporting the network. For example, with Bitcoin, miners support the network and also support availability. They earn the miner’s incentive by doing so.
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#2412
  1. It’s important for blockchain networks to be high availability networks because it keeps the security up and it produces the money.
  2. Miners enable blockchain networks to have such high availability.
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#2413

Blockchains need high availability due to managing important transactions such as personal wealth and business transactions on a global scale.

Incentives.

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#2414

to maintain trust continuously

the large network of mining computers enables blockchain to maintain high availability.

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#2415

  1. Why is it important for blockchain networks to be high availability networks?
    The network data must be available for others to access. If the networks are down no one can use the blockchain.

  2. What is it that enables blockchain networks to have such high availability?
    The nodes are decentralized therefore provides robustness of availability.

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#2416
  1. Because the security and stability of the blockchain grows with the number of people involved.
  2. When there is just few people using it they have high rewards as numbers of users grow the rewards are harder to get and are lower.
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#2417

  1. Why is it important for blockchain networks to be high availability networks?
    So that it can be a global financial system.

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

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#2418
  1. Because blockchain networks are for everyone across the globe which needs to be accessible anytime.
  2. Incentives
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#2419
  1. It is important for blockchain networks to be high availability networks because it maintains the security of the network and to make itself easy/convenient to access for its global users.
  2. Earning money by mining creates an incentive for nodes to be constantly on the network, creating its high availability.
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#2420
  1. Why is it important for blockchain networks to be high availability networks?
    It lets the transactions always readable for consensus and like Internet, more nodes to rely the information make it faster in case of any down server/miner.
  2. What is it that enables blockchain networks to have such high availability?
    Incentive is the counterpart of involving ressources for the POW and the hash power available.
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#2421
  1. Why is it important for blockchain networks to be high availability networks?

Availability drives the value of the network since availability is critical for core use cases like cryptocurrencies - users want to be able to access their money at any given time.

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

Financial incentives for miners - from my understanding they get paid for every block mined, which keeps the network running. When miners leave the network, mining difficulty decreases and rewards increase, which incentivizes new miners to join the network and keep it running.

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#2422

  1. It is important for blockchain networks to be high availability networks because transactions occur all the time, blackouts or system crashes are avoidable and security is increased because more people are managing the system.

  2. High availability comes from mining. Mining fluctuates and acts as a way to protect the system from ever being completely wiped out or offline. If destabilization happens, more miners work to build more blocks and financially rewarded. As stabilization happens, less minors are needed to maintain the system but inevitably, if parts of the system go offline, opportunistic miners show up to replace and rebuild nodes for the system.

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#2423
  1. To be the most reliable network of history running 24/7/365.
  2. Miner who are involved and active in the network to keep it running. They are incentivized to make money.
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#2425
  1. When dealing with value transfer and constant transactions it is necessary.
    2.If one ‘node’ or validator slows or shuts down, another can validate instead. I guess redundancy comes into effect.
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#2426

Bitcoin miners are like the mercenary security force of the network , they battle to keep the infrastructure secure. If some fall in battle there are always more to fill the ranks. The network needs to run 24/7/365 for it to be useful and adopted .

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#2427

  1. Why is it important for blockchain networks to be high availability networks?
    High availability means that the network is available high amount of time. Blockchain, specifically BTC, has been the most available network as it has been available 24/7/365 since its start. For blockchain this is important as it increases security, people can use it whenever they want and it means its reliable.

  2. What is it that enables blockchain networks to have such high availability?
    Its high availibility is not determined by a centralised network, rather it is run by by network of computers all over the world. Even though one node stops minning there will be someone else joining the network to mine. Why would someone else join the network? It is because when someone stops minning, there are less miners and the minning difficulty goes down. It is easier to mine, when there are less miners and its easier to get incentives for minning.

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#2428

  1. Why is it important for blockchain networks to be high availability networks?
    Ans: It is a global infrastructure, ever ready.

  2. What is it that enables blockchain networks to have such high availability?
    Ans Incentives, mining.

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#2429

Same as answers from 2019

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#2430

1 Because being a global database, it needs to be operating all the time with no down time.
2. Rewards and incentives

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#2431

  1. Why is it important for blockchain networks to be high availability networks?
    Reliance on a highly available base level protocol is needed for applications to perform reliably.

  2. What is it that enables blockchain networks to have such high availability?
    The number of miners is controlled through an incentive and mining difficulty.

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