Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2653

  1. So that anyone can access the networks from anywhere and at any time

  2. The fact miners are incentivized to keep the network going

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#2654

Homework on High Availability - Answers

  1. Why is it important for blockchain networks to be high availability networks?
  • Its important for blockchain networks to be highly available so anyone can gain access to needed info in realtime and also to keep up incentives for those verifying transactions and securing the network.
  1. What is it that enables blockchain networks to have such high availability?

Blockchain because of its decentralized nature never sleeps so to speak. The applications are constantly running because as nodes disconnect from the network the difficulty gets easier and more people are able to mine and are attracted by incentives. when this happens the difficulty increases which causes a trend with slightly less miners so the protocol automatically balances out the necessary computing power to a minimum baseline needed.

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#2655

  1. High availability networks allows for constant participation and innovation from anyone and everyone, wherever and whenever. High availability allows equal opportunity for all.

  2. Blockchain networks are running nonstop. The network is accessed simply through the internet. This allows for global participation, which, in addition, is constant participation.

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#2656
  1. Global networks need to be open 24/7 365 days a year to enable anyone in the world to access it this is one of the pillars of blockchains superiority over the archaic systems it preceded. .
  2. Blockchain is able to achieve high availability through incentives or block rewards given to miners. These rewards are automatically adjusted depending on the demand of the network. This adjustment is called difficulty.
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#2657
  1. Why is it important for blockchain networks to be high availability networks?
  • it is a global network for everyone who has a internet. It needs to be 24/7/365
  1. What is it that enables blockchain networks to have such high availability?
  • mining and the reward for it
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#2658
  1. Why is it important for blockchain networks to be high availability networks?
    As we live in in a global world where networks have to be online around the clock.
  2. What is it that enables blockchain networks to have such high availability?
    The network is not depending on 1 or even 100 computers. The network is made up of thousands and thousands of computer which ensures the network is always online.
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#2659

Q1: Why is it important for blockchain networks to be high availability networks?

A1: Because it’s essential for all financial and/or any type of global systems to be available 27/7/365.

Q2: What is it that enables blockchain networks to have such high availability?

A2: If any part of the network is down, there is enough financial incentive for other computers to join the network and fill the gap.

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#2660

1, To allows be on to validate transactions to achieve consensus of transactions
2.The incentive to earn money

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#2661

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks? - So that the network can be accessed 24/7 365 by anyone in the world. Availabiility s what gives blockchain a significant advantage over other networks.
  2. What is it that enables blockchain networks to have such high availability? People are incentivized to keep the network running.
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#2662

1.Why is it important for blockchain networks to be high availability networks?
Answer:
Blockchain are global networks and must run all the time with no downtime to keep he network secure.

2.What is it that enables blockchain networks to have such high availability?
Answer:
Mining incentives keep the blockchains running 24/7/365

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#2663

  1. It is important for blockchain networks to be high availability in order to achieve standard for global adoption especially for finances, as someone is awake somewhere in this world, and the network needs to be ready to handle transactions 24/7/365.
    In example of bitcoin, it has never been down since it’s inception.

  2. The high availability of blockchain networks are achieved by financial incentives. The difficulty and incentives are adjusted according to amount of traffic on the network to strike a balance in network security. In example of a bitcoin, the security of the network is of highest that has yet to be created.

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#2664

  1. Because we use it as a value trade and want it to be able to trade whenever, with whoever and where ever we want and therefore giving us complete control.

  2. the internet, incentives/mining, globalization

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#2665

  1. It’s important for the network to be available 24/7 if it wants to operate as a global financial system.

  2. It’s achieved through mining/ producing blocks on the blockchain. The miners are incentivized to do this since they earn money.

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#2666

  1. High availability is key for users to trust in the network & network protocol. Especially for transactional use cases of blockchains.

  2. Incentive mechanism that adjusts rewards so that there is always an adequate number of participants in the security of the network.

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#2667

  1. High availability networks are more productive fulfilling their use-case for that network and its users.

  2. The incentive for everyone in the network (especially the miners) is to keep the network alive.
    The financial incentive is kept constant by the balance of difficulty and financial reward.

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#2668
  1. In order to protect blockchain networks.
  2. Because of mining, people who mine earn money. High availability is incentivized.
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#2669

  1. Why is it important for blockchain networks to be high availability networks?
    High accessibility 24/7

  2. What is it that enables blockchain networks to have such high availability?
    Incentivizing people to maintain the network

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#2670
  1. Why is it important for blockchain networks to be high availability networks?

To continue to be globally accessible, trustless and secure.

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

It is mining or better miners who are rewarded to secure this high availability.

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#2671

You can access the data anytime, anywhere (… anywhere with an internet connection, that is).

Their decentralised nature. Btw. as far as I heard blochains do not neccessarily need to be decentralised. They can be private, although that removes most of their selling points.

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#2672

You can also use the Blockstreams satellite to receive blocks without the internet :wink:

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