Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2432

  1. The 24/7/365 availability of the blockchain network keep the whole ALIVE and secured.

  2. the all-for-one musketeers power of the blockchain network is that everyone is incentivized to the whole alive also because the responsibility of each of us is to master our financial destiny, and thus each one wants to make / create money.

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#2433
  1. Reliability, accessibility and trust
    2 miners and incentives
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#2434

High availability of the network 24/7/365 is essential for success.
Ii’s achieved through mining which in turn provides the incentive.

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#2435

  1. High availability allows worldwide access enabling different time zones to collaborate continuously without interruption and immediate access to information.

  2. Incentives. The ability to store the value of labor or work performed.

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#2436
  1. The network needs to be online anytime because it is global, it must be ready to process any transaction that may appear on it at anytime of the day.
    2 Nodes on blockchain networks are incentivized with a value transfer that will enable the owner of that particular node to exchange for something that will be of benefit to him/her. eg money
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#2437

1- it’s important for blockchain networks to be high availability networks because it allows for better use cases having a global stable infrastructure that is always running 24hr/day, 7d/wk, 365d/yr.

2- Blockchain networks have such high availability because they are incentivized and secured by mining. People and companies can make money in securing the network. Incentives are highly important.

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#2438

  1. Blockchain networks must be highly available simply because it intends to serve worldwide.

  2. High availability of blockchain is enabled by its collection of nodes/computers in many parts of the world.

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#2439
  1. It is important to ensure that the networks run optimal 24/7.
  2. The vast amount of miners that mine bitcoin enables the high availability.
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#2440

1.it is a global system
2. people are incentivised to keep it running, like miners

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#2441
  1. Why is it important for blockchain networks to be high availability networks?
    Because everyone around the world depends on it, especially for financial transactions.
  2. What is it that enables blockchain networks to have such high availability?
    Everyone is incentivized
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#2442

  • Why is it important for blockchain networks to be high availability networks?
    The world works 7 x 24, you lose money if you don’t have high availability

  • What is it that enables blockchain networks to have such high availability?
    The nodes. The only way to lost this high availability is that the whole network go down(or all internet go down)

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#2443

  1. Because it offers the network to be running 24/7/365 and gives a high level of security.

  2. Incentive to miners, $$$.

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#2444

  1. It is important because blockchain is a global network and people need to have access to it 24/7/365 from anywhere in the world.

  2. Mining activities ensures blockchain’s high availability. Mining increases security (trust) and miner are rewarded for participating in mining.

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#2445
  1. Why is it important for blockchain networks to be high availability networks?

Because it involves everyones transactions

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

Miners and nodes operators are incentivized to keep the network available 24/7

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#2446

1- Because that is a major selling point for them: the ability to make money anytime.

2- The network’s availability comes from mining activities, which are held up by the incentives distributed to those that take part in that process.

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#2447
  1. Why is it important for blockchain networks to be high availability network?

Since the blockchain networks is a global network it will always be able to be accessed by everyone in the world in any time zone to make money. Which gives it a huge selling point over all other networks and markets.

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

Incentives because people want to make money in whatever use case the blockchain is being used for.

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#2448

High availablity Is important to keep the network profitable and operating

Miners working 24/7/365 keep it highly available and allow transactions to verify anytime

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#2449
  1. Why is it important for blockchain networks to be high availability networks?
    So can every application ran on a blockchain have 24/7 access, which ensures a trustless secure network.
  2. What is it that enables blockchain networks to have such high availability?
    It’s like a shared database, everyone has the latest changes and information can never be lost, even if half of the world loses power, the computers in the rest will carry on the data.
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#2450
  1. Why is it important for blockchain networks to be high availability networks?
    A blockchain network should be a global network, which is available for everyone in the world at any time.
  2. What is it that enables blockchain networks to have such high availability?
    The incentives make sure that the network never sleep and the mining going on. This provides a high availability.
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#2451
  1. Because people want access to their finances and info 24/7

2.mining.

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