Homework on High Availability - Questions

[wynand]

1. Because the systems they are to compete with are high availability systems, eg. fiat currency

2. The incentives and availability are setup to almost inversely correlate - low availability means higher incentives which means availability is pushed up again by people chasing the incentives.

[Bouf]

1. A high availability of the network creates incentives for more usage of the network (more buying and selling).

2. Miners enable the high availability of the network as they are incentivized by earning BTC to mine as much as possible and this also makes the network more secure and resilient.

[hivanberg]

1. Why is it important for blockchain networks to be high availability networks?
As blockchain networks get further embedded in daily personal and business life, high availability is a paramount necessity.

Such as applies to other conventional applications, having systems we rely on the daily, we need to build confidence in their reliability.

2. What is it that enables blockchain networks to have such high availability?
Incentives for Bitcoin miners. The mathematical model used adapts for active miners on the network, easing up as the mining force is depleted, and increasing difficulty as network becomes more crowded.

[dgbit]

1. High availability is critical for financial services and payment systems as it ensures users can transact always. In fact this is a big difference between bitcoin and banking legacy systems which operate only during working hours. People can transact bitcoin always with minimum latency. For instance you can send bitcoin from europe to africa in ten minutes, while sending money would take days just because systems are not available 24x7 and they are location dependent.

2. The fact that the network is mantained by miners that are incentivized financially in order to make it work.

[jiadong_han]

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

Because it is golbal and people need 24/7/365, especially in the application on digital currency.

2. What is it that enables blockchain networks to have such high availability?
   It can incentivize people to do mining.

[cawilson]

1. Why is it important for blockchain networks to be high availability networks?
   A: Because it is good for branding. It needs to be available 24/7/365 to be available to the public.
2. What is it that enables blockchain networks to have such high availability?
   A: Not being controlled by a single entity; public ledger

[Featherstone]

@ivan

• Why is it important for blockchain networks to be high availability networks?
• What is it that enables blockchain networks to have such high availability?

1. This makes the blockchain open to be inspected at any time. There isn’t a time where participants can’t look over the public ledger. This provides more strength to a trustless protocol.

2. Blockchain networks have high availability because the blockchain is accessible on the Internet and there are many, many nodes providing live copies of the blockchain. These are accessible by anyone at any time.

[reisnertobias]

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

Because money and crypto never sleeps. Its global 24/7/365

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

Economic incentives for miners. If availability goes down mining becomes cheaper so more people will start mining again so security goes up again.

[HotTrannyCrypto]

It’s important for The networks to be up as much as possible because fundamentally if you want to use anything as a currency you need it to be available to people when they need to use it and they could be whenever. It’s only Possible to keep up this framework of networks because minors are incentivized to mine bitcoin because they make money doing so and that’s why the bitcoin network is so stable because you can always count on people’s greed.

[Iggiepop]

1. For successful functioning blockchain needs to be available at all times.
2. It is incentivized. If it should be unavailable for a span of time parties will lose money.

[Ajab]

1. High availability ensures security of the network.

2. Incentives. Network participants are incentivized to keep the network up and running.

[ChrisK]

High availability is proportional to high convenience.
The decentralized properties of BTC enable high availability and security.

[Damedius]

1)It is important in order to keep the network secure.

2)Financial reward through mining.

[carolb]

• Why is it important for blockchain networks to be high availability networks?
  A) Available 24/7 365 days a year. Very important for global transactions. should it “go down” it will be immediately picked up. Never closes.

• What is it that enables blockchain networks to have such high availability?
  A) The miners. mining protects the network.24/7 365

[HGarach]

1. Why is it important for blockchain networks to be high availability networks?
   Since it is global, it cannot afford to go down, ever! The world needs the blockchain networks to work 24/7/365 for it to be ever useful.
2. What is it that enables blockchain networks to have such high availability?
   Incentivization. We are all incentivized by money and there will always be miners and other nodes willing to keep the network going!

[Oldwolf50]

1. High availability networks offer growing efficiency and better network security.

2. A FAIRLY incentivized payment system enables the high availability.

[madingo]

1. High availability is important for blockchain as transactions are done 24/7/365 days a year non stop at all times, all around the globe

2. The fact that blockchain has to be running 24/7/365 days a year requires incentives for the miners to keep it running. If for any reason a miner drops, there are many more miners ready to occupy the network as there is a reward for them occupying and staying on the network.

[igenew]

1. Why is it important for blockchain networks to be high availability networks?
   It is important for blockchain because this incentivises making money.

2. What is it that enables blockchain networks to have such high availability?
   Global adoption of the blockchain(s) along with running individual nodes of these protocols.

[jw_crypto]

Homework on High Availability - Questions

1. Why is it important for blockchain networks to be high availability networks?
High availability ensures the blockchain will continue to be in operation providing stability to the infrastructure and the systems built on it.
2. What is it that enables blockchain networks to have such high availability?
The financial incentives to the miners that keep the block chain alive is the significant factor that provides high availability.

[Nolan]

1 It is important for them to be high availability networks because it maintains security, and its used 24/7.

2 Money. Miners are incentivized to always be mining by making money.