Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2793

1: blockchain networks need to have a high availability to keep up network security. If a part of the networks breaks down, other nodes replace it. For this process you need high availability.it also runs global, which means that it has to be highly available otherwise consensus would take a longer time.

2: financial or other incentives.

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#2794
  1. people all over the world need to be able to transact with each other at all times. the network also needs to be reliable. if the network becomes unavailable then people will lose access to their wealth.
  2. the decentralized nature of the blockchain allows it be highly available. if a portion of the network goes offline then other computers will jump in to take their spot in order to earn the incentives.
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#2795
  1. Why is it important for blockchain networks to be high availability networks?

Because everybody wants to make money.

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

Because it’s a global decentralized network someone around the world will be mining, as there is a financial incentive to mine.

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#2796

  1. It secures the network.

  2. They’re incentivized to keep the network alive. When a computer is out, there is immediatly another one in the network. Due to decentralization everybody has a copy.

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#2797
  1. Why is it important for blockchain networks to be high availability networks?

By providing service and availability around the clock all day every day 24/7/365 we can get more GLOBAL adoption that will provide more liquidity which will provide the network’s supporters incentivized to keep the network supported and add more hashing power that will provide more security to the network.

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

Miners are enjoying the rewards provided by supporting the blockchain and providing high availability, mining have to stay profitable in order for miners to keep mining the blockchain, if the miner no longer profitable due to raise in difficulty or some other reason, the network will adjust by the difficulty to the network global hash-rate, usually at that time profitability will peak until the void will be filled or the system network availability and security will be re-balanced.

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#2798
  1. Why is it important for blockchain networks to be high availability networks?

As it is supposed to serve on a global reach. If it is supposed to serve globally, it needs to be available 24/7/365 as it needs to be accessible to everyone, everywhere, all over the world.

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

The incentivisation trough mining.

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#2799
  1. It enables them to be always online and secure.
  2. Incentivizing - in the case of Bitcoin that would be mining.
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#2800

  1. high availability creates more security and allows users constant 24/7 access

  2. large amount of miners on the network due to incentives

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#2801

  1. Because it is a 24/7/365 online peer to peer network that needs to be up and running every second. Because everyone wants to make money and they keep the network available.

  2. Incentives are the reason why blockchain networks have such high availability. People are incentivized in blockchain so that the network doesn’t die.

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#2802

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

    • Because it can provide high critical services like financial services , hospitals ,
      etc…which needs to be available 24x7

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

    • The fact that blockchain incentives the members that belong to the network with
      money to support high availability through mining.
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#2803
  1. makes it usefull for all services that require 24/7 globally. High level of trust.
  2. money :slight_smile:
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#2804

  1. The main use case for blockchain right now is for money transfer, since its a global network it needs to be running 24/7 in order to allow people to transact.

  2. The widespread distribution of computer networks across the globe that perform the mining job. People need to sleep, computers do not.

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#2805
  1. The blockchain network must have high availability in order for people in the market to remain affected and influenced by incentives, which caused them to mine for new currency when appropriate, thereby helping to secure the blockchain by default.
  2. High availability is supported and maintained by the incentivized roles of the participants in the network.
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#2806

1.) Because the main benefit of blockchain is self maintaining systems that have a low availability network would be worse then current database based systems . Which in turn would make the system fail

2.) Rewards be in the form of mining or other stuff such as air drops or for some coins staking . Anything that rewards the user for using the network which in turn encourages the user to maintain and support the network which then in turn makes the network more valuable and more secure for others to use

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#2807

Yes, and this is because of the incentives of mining :hammer_and_pick:
If many users would stop mining, the difficulty of mining will get easier, so others will probably join because you get rewarded if you successfully mine blocks with transactions.

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#2808

In order to work as a global entity it must be available to anyone when they need it. Because of different time zones around the world it must be available 24/7/365.

The incentives for miners. By running their mining setup 24/7 the miners earn the most, which is why the network never goes down. :smile:

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#2809
  1. It is important for blockchain networks to be high availability networks so that they can be competitive towards the current infrastructure. It also allows the infrastructure to be global.
  2. The incentive to make money is what allows the networks to have such high availability. People are motivated to make money, without the incentive it would not be so available.
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#2810

1 ) It is important for Blockchain networks to be high availability networks because the more people are in the network, the higher is the security of the network.
2) If one portion of the network dies, immediately other computers will join the network because of mining. Mining is protection and will be rewarded. Less miners, less security.

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#2811

  1. Why is it important for blockchain networks to be high availability networks?
    Having high availability allows for blockchain networks to be global and function all the time

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain networks provide incentives for users to power the networks

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#2812

  • Why is it important for blockchain networks to be high availability networks?
    it is a global system with access for people from all around the world, so it requires availability 24/7; availability for financial transactions at every moment

  • What is it that enables blockchain networks to have such high availability?
    incentives to keep the network running (via mining activities)

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