Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2713
  1. Because information such as your funds need to be available 24/7
  2. Through decentralized mining, there is no single point of failure.
1 Like
#2714
  1. Why is it important for blockchain networks to be high availability networks?

It can be accessed any time, any day.

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

Miners are incentivized. Everyone wants to make money. If some minera jump off, new miners come right away.

1 Like
#2715
  1. The more computers running, the more distributed it is and therefore the more secure it is. If it is high availability, it can be available globall, 24/7/365.
  2. Monetary incentives; mining.
1 Like
#2716

Q: Why is it important for blockchain networks to be high availability networks?
A: Blockchain networks are secure due to their highly distributed manner to prevent from such things as DDoS attacks etc. To maintain a highly distributed network and thus a very high security level all distributed nodes need to be available 24/7 365 days a year.

Q: What is it that enables blockchain networks to have such high availability?
A: A combination of financial rewards and mining keeps the networks highly available. Miners keep the network moving. If some portion of the network stops mining other miners will be incentivised to take their place by a decrease in the difficulty of mining thus keeping the network secure at all times.

2 Likes
#2717

1.It is really important for block chain networks to be in a high availability state. It is to improve security at the same time to enable transactions non-stop. The higher the computational power of the miners the higher the network security.
2.Incentive. Everyone has the same goal which is to earn money and you can’t do that without following the rules of the network.

1 Like
#2718

Why is it important for blockchain networks to be high availability networks?
Because in a global economy with different timezones you want access to the database 24/7 365 days a year.

#2719
  1. Why is it important for blockchain networks to be high availability networks?
    Because to use them as transactions it needs to be available 24/7, otherwise it’s useless.
  2. What is it that enables blockchain networks to have such high availability?
    Incentives, If mining goes down incentives/profitability increase. Genius.
1 Like
#2720
  1. Important for global financial system that network is available, as well as for building other apps on top of it.
  2. Financial incentives - Miners are incentivised to ensure the network is available at all times by receiving rewards for their work. In the event that a node goes down, other nodes are added to the network.
1 Like
#2721

  1. it is important for blockchain networks to have high availability because it secures the network by having many different nodes validating the truth of transactions. This is done by making mining available to everyone which creates the financial incentive to secure the network.

  2. Mining which is the financial incentive for everyone to take part in the global validation systems.

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#2722
  1. so it runs 24 hours a day, 365 days a year.
  2. it is enabled through incentivisation.
1 Like
#2723

  1. As a global layer of transactions it is important to be available 24/7/365 that anybody, anytime can use the network and that the security of the network and the included data is protected all the time. It is a big advantage that the network can be used nonstop for transactions and proof of ownership of different kind of values

  2. The high availability is secured through mining and given incentives to do so. Miners are motivated to secure the network and its transactions because of monetary advantages. Also the many copies of the ledger which are saved in all of the nodes protects the availability and secures the included informations.

1 Like
#2724

  1. To ensure that they can be used productively

  2. Miners are rewarded for mining which in turn keeps the blockchain availability high

1 Like
#2725

  1. Because of a secure infrastructure it’s important there are networks available.

  2. The nodes, because if one is broken there is another copy in the blockchain from another computer.

1 Like
#2726
  1. Why is it important for blockchain networks to be high availability networks?
    It is accessible 24/7 and 365 days of the year.
  2. What is it that enables blockchain networks to have such high availability?
    Miners process the transactions and are incentivized to participate in the network by block rewards.
1 Like
#2727

1 = global access for everyone and permissionless

2 = incentive based, ensuring it stays operational

1 Like
#2728

  1. Blockchain networks are global financial systems and so are needed around the clock all over the globe.

  2. The distributed nature of the blockchain network means that if any part of the network goes offline, the rest of the network is going to do just fine without them and new miners will come online due to increased mining profitability

1 Like
#2729
  1. High availability increases security and it needs to be available to people all over the world in many different time zones.
  2. Incentives
1 Like
#2730

  1. Why is it important for blockchain networks to be high availability networks?
    The network provides global access 24 hours per day, 7 days per week, 365 days per year with transparent and verifiable data and transactions. This makes the network extremely reliable for those that use it.

  2. What is it that enables blockchain networks to have such high availability?
    Global network mining provides around the clock access and reliability. Due to mining incentives (typically in the form of financial gains), the blockchain network does not have one main point of failure that will cause the network to crash. Redundancy is built in on a global level.

1 Like
#2731

  • Why is it important for blockchain networks to be high availability networks?
    It means that it will be available for every transaction that we want to do 24/7/365.

  • What is it that enables blockchain networks to have such high availability?
    Blockchain network will be able to maintain the availability by sharing all the network in all nodes. So every nodes have a healthy back up in order to provide “services”

1 Like
#2732
  1. Why is it important for blockchain networks to be high availability networks?

It is important for blockchain networks to be highly available because of the 24/7* 365 days activity taking place globally.

  1. The incentives given to people enable the blockchain networks to be highly active.
1 Like