Homework on High Availability - Questions

[ArubianCryptoLady]

1. Why is it important for blockchain networks to be high availability networks?
   it’s available for everyone globally 24/7/365, everyone wants to make money so incentivized keeps it Alive

2. What is it that enables blockchain networks to have such high availability?
   Mining, the more miners the higher the network security is but the difficulty of mining is also higher.

[RedHorse]

1. It’s important because it is a global infrastructure and the sun is always shining somewhere. The network needs to be available at all times to make entries on the ledger. Whether financial or supply chain related, global infrastructure networks require high availability.
2. The financial incentives for members/nodes on the network to contribute by mining/verifying blocks. If there is a threat to availability, ease of mining increases which will persuade more members/nodes to start mining as it is easier to make money.

[paddyc1]

1. It is important to have high availability because people need to be able to access it around the clock, 24/7/365.

2. The miners are what allow blockchain networks to have high availability, they provide the computing power for each transaction to take place and get rewarded for doing so.

[browndog]

Why is it important for blockchain networks to be high availability networks?
Because this is necessary for a global financial system, currency is only 1 application that will be built on the blockchain. Blockchain will facilitate all business so it’s high availability is crucial

What is it that enables blockchain networks to have such high availability?
Because the network has unlimited redundancy, if a portion of the network goes down it will be replaced through other computers around the world mining.

[Fabrice]

@Draper

What is it that enables blockchain networks to have such high availability?
Blockchain runs on multiple computers and the ledgers are available across that network. This allows the information contained on it to be verified and accurate and easily available because it is contained on multiple computers. This prevents the delay of information should one computer go down, multiple other computers contain the same information and therefore, it is not all lost.

Yes, this is true, but here we mean that the financial incentives of mining keeps bitcoin from producing blocks so transactions will always be confirmed. If many miners would stop mining, mining difficulty gets lower so many more other people will have it easier to get rewarded by joining again.

[Draper]

I do remember that from the lesson. I think I misunderstood what the question was asking. Thank you for the clarification and guidance.

[block716]

Answer 1: It’s important for blockchain networks to be high availability networks because this allows bitcoin and other cryptocurrencies to stay online.

Answer 2: Financial incentives enable blockchain networks to have high availability.

[ivleague]

1. It’s important for blockchain networks to have high availability because they’ll be useless if no one has access to them. The networks won’t grow and communities won’t be built

2. Decentralization enables blockchain networks to have high availability through different nodes across the world.

[Nigel]

1. The high availability nature of blockchain networks makes it perfect for handling transactions. It could also be used for other applications that would benefit from the high availability.
2. The money incentive is what enables blockchain networks to have high availability.

[TimD]

1. It needs to have an all time uptime so you can check everything at all times, that’s one of the necessary attributes for the blockchain to make it trustless.

2. The process to enable a high availability in blockchain networks is the money incentive that mining provides you.

[Ivan_Z]

• Why is it important for blockchain networks to be high availability networks?
  high availability ensures transparency.
• What is it that enables blockchain networks to have such high availability?
  No matter what time zone you are, an X-amount of users will be doing transactions, and a Y-number of nodes will be very verifying for the incentives

[Anoushka]

1. So it is always available to everything/everyone that is on that blockchain network (and I believe in the future everything will be on blockchain because as Ivan said with blockchain technology the world is just so much more efficient).
2. Nods/miners that are motivated to work thanks to money they make doing it.

[pawel]

1. It is so important because high availability incentive to mining which is crucial for security of the blockchain network.

2. Financial incentives for mining enables blockchain network to have such high availability. If part of blockchain network stop mining, mining start to be easier so more people start mining.

[LUKEDUKE]

1- Because they are global and people need to use it all the time.
2 not sure, internet and global mining

[ElyRamos]

Homework on High Availability - Questions

1. Why is it important for blockchain networks to be high availability networks?
   Its very important and also it makes blockchain unique and that incentive the people to work in this enviroment 24/7

2. What is it that enables blockchain networks to have such high availability?
   the reason is this system works 24hr 7 days what means 365 days available as well minning 24 hrs ( incentives)

[Andro]

1.Blockchain networks need to be live all the time so people all around the world can access it at any time.

2. Everyone in the blockchain is financially incentivised to keep it alive, if there’s fewer people mining then mining becomes easier which means more people will start mining to make money.

[Jessica]

1 Everyone has the opportunity to make money/ it unite everyone.

2 People are incentivized with money to protect the network/to keep it alive…
https://thort.space/564137003

[Stevenmiddleton]

1. Making money and security.

2. The network has never been down running 24/7/365, if one or more go they get replaced immediately.

[jaykake]

1. Because they run 24/7/365.

2. incentivisation to participate in the network which results in profits.

[DazzaMac19]

1- It is important to service/do transactions 24/7 365 where a global consensus reliable infrastructure is required

2- Incentives to make money or financially reward, blockchain enables high availability and if one stops there is another copy on all other computers creating the ledger.