Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2593
  1. Why is it important for blockchain networks to be high availability networks?
    because it is being updated with new blocks about every 10 mins
  2. What is it that enables blockchain networks to have such high availability?
    Incentives like mining
2 Likes
#2594

  1. Why is it important for blockchain networks to be high availability networks?
    Because someone somewhere in the world will need access to it at any given time so it must be available 24/7/365.

  2. What is it that enables blockchain networks to have such high availability?
    Incentives- which are the mining rewards.

1 Like
#2595

  1. Why is it important for blockchain networks to be high availability networks?
    Its important because it needs to be available worldwide 24 hours a day 7 days a week in order to verify transactions and mining operations. This keeps the network alive.

  2. What is it that enables blockchain networks to have such high availability?
    Mining operations big and small that are given incentive’s to min.

1 Like
#2596
  1. Why is it important for blockchain networks to be high availability networks?

People all over the world want to make money, they are incentivised to keep the network alive

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

The incentive of making money through mining

1 Like
#2597

  1. Why is it important for blockchain networks to be high availability networks? - 24/7/265 accessible, no downtime

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

1 Like
#2598

It’s obviously very useful that the network is always available. That means the network can be used when you need or want to use, not when a service provider is able to deliver that service.

Miners are incentivised with money to keep running the equipment that secures the blockchain network. It seems like greed really is good.

1 Like
#2599
  1. Q: Why is it important for blockchain networks to be high availability networks?
    A: It allows anyone at any given time to be apart of the network.

2.Q: What is it that enables blockchain networks to have such high availability?
A: All of the Nodes that are incentivized to stay online.

1 Like
#2600

Homework - High Availability

Many systems need to achieve maximum uptime. Global financial systems in particular need to maintain 24/7/365 availability.

Participants are incentivized to keep the network running. When some participants leave the network rewards are raised for the remaining participants which causes more to join. This raises the security and availability of the network.

1 Like
#2601

  1. Why is it important for blockchain networks to be high availability networks?
    To gain trust and reliability and authenticity.

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

1 Like
#2602

Q1: Why is it important for blockchain networks to be high availability networks?
A1: Otherwise people would not trust the protocol and it would loose its value

Q2: What is it that enables blockchain networks to have such high availability?
A2: Miners are incentivized to be available and mining (verifying transactions) 24/7/365 because they get rewarded for being available.

1 Like
#2603

1.) Why is it important for blockchain networks to be high availability networks?
A: If and when the global financial system, along with various other industries run on the network, it is imperative that it be available 24/7/365 without interruption. With interruption it would compromise the efficiency of the operation and there would be various repercussions as a result.

2.) What is it that enables blockchain networks to have such high availability?
A: The fact that there are so many nodes/computers/miners that exist. So if a portion of the network goes out in a region of the world, say a software issue or an E.M.P. for instance, as long as even just one computer keeps running the network will be able to stay alive and available, plus, if miners leave, others will come, as the difficulty and time incentive of the mining reward fluctuates with a kind of natural ebb and flow.

1 Like
#2604

  1. High availability of the blockchain leads to more opportunities for profit by always being able to make a trade, even on the weekend.

  2. High availability is achieved through incentives and a flawless product that constantly mines blocks of data verifying the success of the nodes.

1 Like
#2605

  1. Why is it important for blockchain networks to be high availability networks?
    Because people can use it 24/7 all year long

  2. What is it that enables blockchain networks to have such high availability?
    Miners keep the network alive

1 Like
#2606
  1. Why is it important for blockchain networks to be high availability networks? it is a key component of the mathematical protocol governing security and it is just required for it to be really a worldwide efficient network.
  2. What is it that enables blockchain networks to have such high availability? incentives coupled with mining difficulty
1 Like
#2607

  1. It’s important as having a high availability network allows for 24/7 operation of the blockchain and the industry it may support.

  2. High availability is due to the incentives that are given to miners for mining blocks. This makes sure there are always miners to process the transactions or information

1 Like
#2608
  1. Why is it important for blockchain networks to be high availability networks?
  • It is important for blockchain networks to be high availability networks because of the level of security they provide, they always need to be online.
  1. What is it that enables blockchain networks to have such high availability?
  • Mining is what enables blockchain networks to have such high availability. When a portion goes offline or breaks in someway, another machine joins to help keep it running.
1 Like
#2609
  1. Because people are transacting/ tracking/ etc 24/7/365 on massive scales, so global infrastructures of this type would be a vast improvement over the current lower availability networks running today.
  2. The decentralized and incentivized natures of blockchain are what allows for and encourages the robust networks of autonomous nodes that enables high availability.
1 Like
#2610
  • Why is it important for blockchain networks to be high availability networks?
    So that if the network becomes less secure people will be rewarded for making it more secure.
  • What is it that enables blockchain networks to have such high availability?

Having block rewards for miners.

1 Like
#2611

High Availabilty :clock2: :white_check_mark:

1.Why is it important for blockchain networks to be high availability networks?
Only through 24/7/365 global availability does a store of information and/or value provide enough utility to its users so that they will invest in its maintenance.
2. What is it that enables blockchain networks to have such high availability?
Since they run on the infrastructure that was/is created for the internet its resilience and speed stem from geographic distribution and that they run on variable systems. Monetary incentives combined with difficulty adjustments ensure a constant hash rate with a certain degree of independence from outside factors.

2 Likes
#2612

  1. Why is it important for blockchain networks to be high availability networks?
    As the ecosystem grows it becomes more stable. Everyone needs access to secure money.

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

1 Like