1 business runs 24/7 so need 24/7 access
2 incentives for the miners running the system for 24/7 trustless validation.
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1.As it is a global network it needs to be available 24/7/365 for all applications across all time zones. All global business is 24/7/365 just like the internet, information always available, blockchain technology needs to always be available.
2.Incentivisation on the network makes the availability so high, being rewarded to keep the system running through financial reward as most people want to make money. This reward is done through mining and difficulty within mining moves up and down make sure that miners are always verifying the network, such as if a region or area has gone down new miners will come on line to carry on the blockchain verifications
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Why is it important for blockchain networks to be high availability networks?
Currently cryptocurrency is the largest use case of blockchain technology. As global users need access to be able to use their currency 24/7 it means that blockchain networks are needed to be high availability networks. Aside from cryptocurrencies a high availability network allows users from across the globe to utilize the network at their convenience without having to worry about its availability.
What is it that enables blockchain networks to have such high availability?
Blockchain networks have such high availability as there are always computers powering the decentralized network. People are incentivized to mine which means that there are always computers powering the blockchain at all times which allows for high availability.
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1-bcz its global hence used 24/7
2- mining is a constant source of income hence will allways be supported
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- It is important for blockchain networks to be a high availability network, because people want to be able to spend 24/7 and make money 24/7.
- Incentives enables the blockchain network to have such high availability.
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1. Why is it important for blockchain networks to be high availability networks?
Because only if they are a high availability network, they can actually be used worldwide and reach higher adoption levels.
2. What is it that enables blockchain networks to have such high availability?
Incentivisation and the fact, that the Application runs 24/7/365.
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So that it can be accessed anywhere in the world, at any time, without fail. 24/7/365
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The incentive to participate in the network provides this high availability, through mining.
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Why is it important for blockchain networks to be high availability networks?
Because it will constantly keep the security of the network high and running efficiently to prevent fraud or money duplication .
Plus it will constantly pay miners their compensation. -
What is it that enables blockchain networks to have such high availability?
Miners constantly securing the network and the blockchain being open source for everybody to join .
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It is important for Blockchain networks to be high availability networks because they are more secure if they are running 24/7/365. Also means that transactions can always be monitored.
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Blockchain networks are able to have such high availability because the user (miner) are constantly incentivized to keep it running and validate transactions.
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Homework [Don Michelin]
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It’s important because a highly available network means constant access 24/7/365 and a live network. Be like Bitcoin.
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That’s is due to the mining which also increases security and incentivizes those participating.
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- To keep the network running at all time and for security.
- The fact that the network is always online by people mining everywhere.
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It is important for the network to have 0 down tome because if it were ever down all those transactions that anyone tried to place could be lost or even cause the network to lose the confidence of the participants.
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The key is incentives. If many are participating in the network then there is stability and security. If some leave there is an opportunity to become a miner because mining is easier. There is an incentive to always make sure the network is secure through participation of many nodes.
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It is important for blockchain networks to be high availability networks because it is a record of all transactions happening on a global network which will need to be accessed 24/7/365.
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There are financial incentives through Proof of Work (mining) or Proof of Stake (transaction validators) which will ensure blockchain networks have high availability.
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- Why is it important for blockchain networks to be high availability networks?
To keep it alive. To make sure it will run and be accessible 24/7/365. - What is it that enables blockchain networks to have such high availability?
Cause everyone is incetivised to keep it alive. Cause of money.
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It is important for blockchain networks to be high availability networks so that more users can make use of it more often, this is a high selling point, or unique selling point of blockchain technology.
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Financial Incentives enables blockchain to have such high availability or in ‘normal terms’ people get paid to keep the network going.
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It is important for blockchain networks to be high availability networks so that is makes it most reachable and usable global secure infrastructure where everyone is able to have and use the same information at any time and place. 24/7/365
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For the blockchain networks to have such high availability enables it that is built on incentives trough financial reward system/ some kind of profit or gain for all the participants in the network across the globe.
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- High availability networks ensure 24/7/365 (plus leap year) functionality of the blockchain from any location.
- Blockchain high availability is made possible by decentralized computing, if one system goes offline another system goes online to take its place so we can all make money.
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Why is it important for blockchain networks to be high availability networks?
It is important so that they can be accessed around the world 24/7.
High availability is important is an advantage
What is it that enables blockchain networks to have such high availability?
Incentives are provided to keep the network running and ensure that if any nodes go down or decide to quit other will quickly join in to replace them.
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- by uniting the world because everyone wants to makes money!
- because of the built in protection and incentives from mining (prof of work)
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- To interconnect everyone and everywhere with a borderless network
- Incentive for decentralized nodes
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