Homework on High Availability - Questions

Blockchain and Bitcoin 101
#262

It is really important to have a high availability network because it must be available when I and other people need to access it. 24/7 .365 days a year so it is possible to do transactions at any time from any place you can connect to the internet.

What enables blockchain networks to have such high availability is greed. The blockchain miners or exchanges are paid to keep the networks running smoothly. It is the transaction charges that they receive that makes it worthwhile for them to ensure that the blockchain is always available.

#263
  1. Why is it important for blockchain networks to be high availability networks?

To maintain security of the network.

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

If a portion of the network dies, other computers will join the network because of the opportunity to earn through mining. More people mining = higher network security. Miners make money to protect the network.

#264

1. Why is it important for blockchain networks to be high availability networks?
Otherwise it cannot be trust, used, validated etc. by anyone in the system. Every use-case of blockchain is different. But for example Bitcoin, it would basically mean that you cannot access your money or spend it when the blockchain is down, which is not good.

2. What is it that enables blockchain networks to have such high availability?
The fact dat it is distributed across many computers and the fact that the incentive go up if the network cannot keep up with the demand.

#265
  1. Why is it important for blockchain networks to be high availability networks?
    This is the main incentive to use blockchain, because of the 24 x 7 x 365 availability.
  2. What is it that enables blockchain networks to have such high availability?

The mining enables the network to have high availability.

#266
  1. Without High Availability on blockchain, currencies like Bitcoin and other concerns would never have a 24/7/365 access to carryout a transaction whenever it was required and regardless of where you are on the globe.
  2. Incentives, miners, decentralisation. If a number of computers go down due to a range of issues, other computers / miners will take up the slack as a backup or a replacement this will keep the network available to carry out all protocols and function’s.
#267
  • A global network needs to be open 24/7 365 days a year to enable anyone in the world to access it and Blockchain achieves this.
  • 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
#268

Why is it important for blockchain networks to be high availability networks?
Because everybody incentivised to keep the network alive

What is it that enables blockchain networks to have such high availability?
Because everybody wants to make a buck.

#269
  1. Why is it important for blockchain networks to be high availability networks?
  2. What is it that enables blockchain networks to have such high availability?

Security and 24/7/365 network availability.
Financial intensives through Mining .

#270
  1. Why is it important for blockchain networks to be high availability networks?
  • The Blockchain network operating 24/7/365, which allows people to access it at any time as long as they have a internet connection.
  1. What is it that enables blockchain networks to have such high availability?
  • The Blockchain network can never go offline and also incentives people on the network/Miners to protect the network and to always keep it running.
#271

1 BC needs to be high available, because it is used globally 24 7 365 and therefore has to work ongoing to be able to show the truth at any time
2 incentives miners and the de central character and technic of a BC

#272

Question 1

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

We live in a world where practically everything we do requires 24/7 365 days a year uptime and access to ensure mission critical applications continue to run. We use it for social interactions, financial purposes, industrial purposes and for creative purposes and when these services go down we find ourselves running to services such as isitdowndotcom.

Question 2

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

What enables blockchain networks to be high availability networks is a thing called incentives When there are lots of miners on the network the network is more secure and miners get rewarded financially for keeping the network secure. If a lot of computers go down on the network more miners join the network because mining is easier thus increasing the security of the network to make up for the shortfall which just happened.

1 Like
#273

Why is it important for blockchain networks to be high availability networks?
Blockchain networks need high availability to promote use and to offer a stable platform for financial incentive.

What is it that enables blockchain networks to have such high availability?
Financial incentives promote the high availability of blockchain networks, which become self sustaining.

#274

  1. It is important for it to be high availability to support the block chain infrastructure witch depends on the people participating in its upkeep. This is done by giving people an incentive to make money with mining which in turn supports the infrastructure.

  2. The incentive to make money is what allows this network to be so highly available , anyone can participate.

#275

Answer to homework.

  1. High availability networks is important to ensure access to blockchain, when networks collapse then not only blockchain wont be accessible but, financial, industrial, healthcare, social services will be unavailable. As network up and running then blockchain network needs to be at high availability so nodes could communicate and verify BTC transactions or info that is written on blockchain.
  2. It is money. For example like Ivan said that when there are few miner then block can be mined easier so when a network goes out then mining becomes easier for other who join in to mine they are just incentivised to earn money. That enables blockchain network to have such high availability.
    But I have a question, after all blocks have been mined, then what? No more miners. What keeps up high availability?
#276

  1. To guarantee the ‘‘truth’’ at any moment. (done by verification etc).

  2. Economic incentives. Availability of blockchains is made by miners. The economic incentives guarantee that there will be new miners when others quit so the availability will stay 24/7/365.

#277
  1. Because it’s a global infrastructure, the networks have to always be accessible to anyone, anywhere.
  2. Incentives.
#278

It is important for blockchain networks to be high availability networks so they can serve the market, buyers and selles at all times, and by doing so keep max level of security on the blockchain.

What enables networks to have high availebilty is the incentives the miners receive, that is to say the availability also to make money 24/7.

#279
  1. Why is it important for blockchain networks to be high availability networks?

High availability on a blockchain is important because low availability can produce security failures, such as low adoption of nodes and lack of service value to consumers of the service.

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

There are a number of factors that play into availability, which can be concluded in the adoption-over-time rate. These factors include consensus, threshold for joining network and cost of actively participating in network.

Development on the network can also be a factor. An example of this and how it effects blockchain networks can be witnessed in the historic data of the big Bitcoin forks, Bitcoin Cash and Bitcoin SV respectively

Bitcoin and Ethereum are good examples of blockchain networks that increase adoption-over-time-rate through good economic incentive models and low threshold for joining network.

#280

  1. High availability increases the security and people will have access.

  2. Incentive (financial), though rewards for mining.

#281

Need to be online always the miners verify and are compensated for their work