Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2492

1-Because is a new borderless financial system that unite not only continents but whole world at different time zone for everybody.

2-Proof of Work, Mining, incentive, internet.

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#2494

  1. Why is it important for blockchain networks to be high availability networks?
    It’s important for blockchain to be a high availability network because it’s a key component of
    survival. With the network running 24/7, 365 days a year, it makes the network stronger and more
    secure.

  2. What is it that enables blockchain networks to have such high availability?
    Incentives. Everywhere people are able to make money by running nodes or mining. The ability to
    make money is what keeps the network constantly working.

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#2495

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

  • because blockchain networks are used for applications to transfer data and/or value , if blockchain network is not available any transaction occurs during that period of time will FAIL.

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

  • incentives mainly and the programmed method of distributions of incentives which provides even more incentives if a certain part of network is unable to contribute others will have a nice payday. so this way the network can insure its available 24/7/365 .
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#2496
  1. One of the most important reasons are that people want to make money and also have the ability to run transactions 24/7

2.Tha answer is because of mining, people participation in the network

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#2497
  1. It is important for blockchain networks to be high availability networks because it provides stability and it is a global network.
  2. Mining (incentives) enables blockchain networks to have such high availability.
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#2498

1- Mission critical applications worldwide and reliable network allows miners incentives to make money 24/7/365.
2- Incentives, mining…proof of work

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#2499
  1. so that it is available 24/7 365 to transact which makes it the most accessible all the time especially when a transaction is needed to be done right away.
  2. Everyone in the network is incentivised.
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#2500

1 Why is it important for blockchain networks to be high availability networks?
Because it needs a network that operates 24 hours, 7 days a week and 365 days a year because need a network that accommodates to everyone at the same time all year round.

2 What is it that enables blockchain networks to have such high availability?
Because it is incentivized, where people can money.

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#2501

1.) It is important for blockchain to be a highly available network due to the fact that transactions never stop. The real world is running 24/7/365 and the network must be highly available to accommodate that.

2.) Blockchain networks have such high availability because the participants or nodes are incentivized to keep it running.

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#2502

  1. I look at it as the watchers in cities of old. They were guarding their borders and their cities from attacks. Having incentives to stay awake and guard it caused a lot of people to want to stay awake and guard it. And they would be incentivized to do so. If they were not incentivized, they would stop doing the work. It’s the same with a bankrupt company. If people don’t get benefits anymore for doing their job, they will stop. In terms of blockchain, since people are incentivized to stand guard, the security is high all the time. And there is always someone available.

  2. Incentives. It’s all about motivation and incentives!

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#2503
  1. This means everyone can access it whenever they want. No more bullshit that bank transactions are not being processed in the weekends for example.
  2. There will always be miners, ready to verify and add transactions. They are incentivized to be mining because they make money doing it. If the number of miners decreases, difficulty will go down and more people will start to mine, keeping it in balance.
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#2504

1.It allows global usage anytime.
2.Mining enables the network to stay online 24/7.

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#2505

  1. For a financial system high availability is very important so that it will be accesible 24/7 and 365 days a year. The high availability makes that always are there many miners working in orden to guarantee the system security.

  2. The incentives. They are responsible for creating an interest abput taking part in the mining system when many miners stop working

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#2506

  1. Regardless of the application each blockchain is designed to serve, high levels of availability are always beneficial to maintain a secure network, ensuring continuous operation and maximizing decentralization

  2. There are financial incentives that ensure it is profitable to keep computers continuously online, worldwide (mining bitcoin, as an example). When, for some reason, some computers leave the network, it becomes easier to access those incentives, so more computers join

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#2507
  1. To promote activities/bussiness
  2. The incentives to make money and work on it
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#2508

  1. High availability keeps the network secure 24/7.

  2. Money is what keeps the network highly available. Money is the motivation for mining which keeps the network secure. Greed, ambition, or need are great motivators.

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#2509
  1. It is important because the blockchain network should run without outage 24x7 365 days
  2. Mining with incentives
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#2510

  1. Why is it important for blockchain networks to be high availability networks?
    Because it is a global network with users around the world so the network must be active and available to validate transactions 24/7

  2. What is it that enables blockchain networks to have such high availability
    Because there are alwaya miners ready to validate transactions and keep the network running. They are incentivized to do this by profit. If other miners leave the network, it becomes easier to mine, so new miners will join the network instead, ensuring a high availability network

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#2511

Homework on High Availability - Questions

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

To keep the network running and to be accessible 24/7 or whenever the need arises.

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

Incentive. When miners are incentivised to keep the network running to create profit for themselves and the people using the network.

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#2512
  1. Why is it important for blockchain networks to be high availability networks?

It’s important for blockchains to be highly available networks because they are global networks, with a global userbase, that requires blockchain to always be available, otherwise it will interfere with business processes.

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

Everyone acting in their own self-interest (greed) enables blockchain networks to have such high availability. Even if (large) parts of the network go offline, new participants are incentivized to join the network and make it available for others since they get paid to do so.

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