Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2833
  1. Why is it important for blockchain networks to be high availability networks?
    Because they will be needed 24/7 in a interconnected fast paced world. The sun never sets on commerce or any sort of activity.
  2. What is it that enables blockchain networks to have such high availability?
    Mining and that everyone is incentivized to keep it alive. (financial)
2 Likes
#2834
  1. because the applications/programs running on the blockchain are global and life and business are always going somewhere around the world
  2. mining and the desire to make money
2 Likes
#2835
  • Why is it important for blockchain networks to be high availability networks?
    To be stay secure at all times
  • What is it that enables blockchain networks to have such high availability?
    Incentives acquired for providing secure and operational infrastructure
1 Like
#2836
  1. First it makes it attractive for user. Also if one wants to fuels monetary sytem, or health system, one should always be available, at least as much as a static centralized database.
  2. Incentives to make money makes that there is an extremly high availability. There will always be miners - who are fuelling the blockchain and so creating the availability - willing to do their job to make money. And it the case there are less, the difficulty of mining would decrease and more new miners would join to continue make the network fonctionning.
1 Like
#2837

High availability helps secure the network, financial incentives ensure nodes continue to be established and operate.

1 Like
#2838
  1. Unreliable networks are useless for worldwide business solutions.
  2. High financial incentives for miners to join the network.
1 Like
#2839

  1. Why is it important for blockchain networks to be high availability networks?
    Some sectors such as Global Finance need to have 24/7 access and bypass time zones.
    Business and opportunities never sleep.

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

1 Like
#2840
  1. Becase it must be available for people around the world, 24/7/365. no stoppable, growing each 10 minutes
  2. Incentives, decentralization, legacy
1 Like
#2841

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

    It is crucial for blockchain networks to be high availability networks to be able to provide and ensure security of the whole system.

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

    The monetary incentives that comes with being online and validating transactions.

1 Like
#2842
  1. So that they can be used anytime without restriction or dependancy on anyone.

2- It is a global computer which is running all the time due to good Incentives.

1 Like
#2843
  1. So that it could be used, checked and validated at any time.
  2. There are always enough computers available in the blockchain to verify and validate transactions because of the incentive miners have to make money.
1 Like
#2844

24/7/365 is important so users can access at they’re convenience emphasizing the advantages of a decentralized network.

Decentralized nodes/computers anywhere in the world with access to the internet.

1 Like
#2845

  • Why is it important for blockchain networks to be high availability networks?
    It’s important to have a high availability network, so that it can be used on a global scale 24/7/365 by anyone with an internet connection

  • What is it that enables blockchain networks to have such high availability? By incentivizing the miners with rewards the network is constantly running, and aiding in its security. Without this incentive and competition to gain the reward the network could become less stable and secure

1 Like
#2846
  1. Global access
  2. Incentive
1 Like
#2847
  • available 24/7/365, to anyone with an internet connection, both for mining, and to make transactions
  • mining P.O.W. can be profitable. btc’s hashrate difficult adjustment creates a balance in the mining ecosystem.
2 Likes
#2848

  1. Because everyone is incentivised to keep the blockchain alive, 24/7.

  2. Miners, since theres always someone incentivised to keep the blockchain running, if one miner stops probably other one will start, its all a matter of prices and incentives.

2 Likes
#2849
  1. Why is it important for blockchain networks to be high availability networks?

The security of the network depends on the number of miners available to create consensus. Number of miners goes down and the network becomes vulnerable to reorganisation.

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

The network is incentivised to encourage high availability, Number miners goes down and incentive goes up to attract more miners.

2 Likes
#2850

  1. This is an important in order to secure the network for service.

  2. The nodes are run by miners which keep the system online, when one fails another will immediately join the network.

2 Likes
#2851

1.) Because its a global system and it has runing all the time when people need it! And its attractive for users. Stockmarket is only from monday till friday and a lot can happen on weekends;-)

2.) Incentitives to make money and there allways be miners who are fuelling the blockchain!

2 Likes
#2852

1.Because we have the potential to use it all over the world at any time with out time restrictions.
2.Because of the reward incentives.

2 Likes