Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2813

#1 In a global environment people will need the ability for transactions and value assignment at every second of the day, every day, of the year, for ever. There will NEVER be a time the network is not needed.

#2 With the incentivized mining there will always be nodes up and running on the network to keep it alive. If for some reason a node falls out another node will rise to take its place, because someone will want to make that money. This is a great example of how a free market will level itself.

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#2814

  1. Why is it important for blockchain networks to be high availability networks?
    Because that is the only way to be a truly reliable global network. If it suddenly stops then it would be neither reliable nor trustworthy.

  2. What is it that enables blockchain networks to have such high availability?
    Incentives for miners. If miners validate the blocks they get rewarded.

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#2815
  1. Information needs to be available at all times globally so it is imperative that the network runs 24/7/365 to be able to access the data anywhere in the world at any time of the day.
  2. As the nodes are incentivized to perform transactions there will always be demand to produce blocks. If certain nodes became inactive there would be many that would take their place enabling the network to remain active at all times.
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#2816

  1. As blockchain can serve as the base layer for transactions and settlements it is very important to have high availability so that the network is online to to product blocks and settle transactions on the network.

  2. Mining enables blockchain to have high availability as miners are incentivised and rewarded to mine by received coins and fees.

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#2817
  1. If you are going to have a global network, financial or otherwise then it needs to be able to run 24/7 to allow anyone at any time to utilise it.
    2)The high availability is down to the amount of denetralised computing power that is going into the mining and also the security of the network. The incentives and how the protocols can react to part of the network going down make the way blockchain works very resilient to any issues that could take down another more centralised network.
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#2818
  1. It’s important because a secure and global network must be available 24 / 7 and 365 days per year.
  2. It achieves high availability by giving (financial) incentives to the miners .
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#2819
  1. Why is it important for blockchain networks to be high availability networks?

High availability ensures the network is secure and accessible. Security is achieved via consensus across the network and a reliable network ensures smooth transactions for anyone using it.

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

Incentives provided to networks operators ensure that the network is always available. Should these incentives become too small to attract the required level of availability the difficulty rating to receive an incentive will be lowered therefore making the network more attractive to maintain.

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#2820

  1. Why is it important for blockchain networks to be high availability networks?
    Depending on the application/use case of the network, constant uptime can be crucial to functionality, consistency, and accuracy.

  2. What is it that enables blockchain networks to have such high availability?
    Decentralization and Incentives (rewards) for keeping machines connected and processing information (mining). With a centralized network, one wrong thing could knock the entire system offline. In the case of a decentralized network, even if a portion of the network goes offline for any reason, not only are there already other nodes in the network still working, but incentives now become easier to earn for each computer connected to the network, which drives more to join the network and keep uptime intact.

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#2821

1/ Because I know the service it provides requires that it always be operational, it cannot stop working if it does not work

2/what enables it to always work are the people who provide the training, which are motivated by incentives

#2822
  1. Why is it important for blockchain networks to be high availability networks?
    It is 24/7/365 with its global reach anyone can access it.
  2. What is it that enables blockchain networks to have such high availability?
    Everyone wants to make money and rewards blocks given to the miners.
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#2823

You probably meant mining? Because if you successfully mine a block you earn the block subsidy + all transactions fee’s that you included in that block. When many miners would stop mining, the difficulty of mining would become easier wich will incentivize others to mine again and get the profit. So as long as people want to make money, bitcoin will keep producing blocks and confirm transactions 24/7

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#2824

  1. It is important because if it was down sometimes when you needed to use it, it wouldn’t be useful at all.

  2. As miners are incentivised to work, and that work enables the high availability.

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#2825
  1. It important for blockchain networks to be high availability networks so everyone around the globe can count on them at any time.
  2. Mining and Making Money enables blockchaiN networks to have such high availability
1 Like
#2826
  1. High availability means that the network is more secure. And you get that through mining, And if people stop mining, the returns for others are greater so more people will start mining increasing the network security again,
  2. The people who are mining and keeping everything online be creating blockchains and being available 24/7/365.
2 Likes
#2827

  1. Why is it important for blockchain networks to be high availability networks?
    the network has to run 24/7/365 due to security (computer power in the network)

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

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#2828
  1. It is important for networks to be high availability networks because world wide adoption needs 24/7 access.
  2. Blockchain networks are high availability due to the fact miners keep operating the network through incentives to due so.
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#2829
  1. It is because a global network means more consensus which means more security.
  2. Because miners can be incentivized for their work and thus creating high availability.
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#2830

1- It is important for a blockchain network to have high availability so that the network remains alive, open, and accessible 24/7 on a global scale.

2- High availability is maintained through the incentive system that is built into the blockchain protocol. Users of the network are incentivized to keep the network alive.

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#2831

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Blockchain nodes need to be available to find new blocks also and read the public ledger… for security reasons transactions need to be verified and take place 24 hours a day 7 days a week. The network needs to be up so it can be constantly solidified locking in transactions as they happen. The longer a transaction takes to be verified the less secure the network will be in terms of potential vulnerabilities or errors that could take place

  2. What is it that enables blockchain networks to have such high availability?
    the profit of mining the network increases as more blocks become available to mine. the more incentive miners have to secure and maintain the network the more stable/secure the network will be.

2 Likes
#2832
  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 without it, it can not perform and blockchain can be used for very important applications such as money and supply chains which almost never stops, especially since the creation of blockchain.

  1. What is it that enables blockchain networks to have such high availability?
    Mining enables blockchain networks to have high availability because you are rewarded for mining bitcoin and running a bitcoin core node which is running the blockchain locally on your computer to verify transactions on the network. The more people mining, the more likely for the blockchain network to stay having high availability and if mining stops in certain areas, it gets picked up in other areas to make the network difficulty increase right back up because of being rewarded bitcoin for running the network and verifying transactions.
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