Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Downtime will mean everything stops working

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

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High availability is important because blockchains aim to become critical pieces of infrastructure. Furthermore it’s important because they are global databases and the world never sleeps.

Blockchains achieve high availability by being decentralized. Every node of a blockchain has a copy of the current database. As a result, it doesn’t matter if some nodes go offline.
Additionally, blockchains incentivize new nodes financially to participate in the network by reducing the mining difficulty if too many nodes go offline.

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  1. Why is it important for blockchain networks to be high availability networks?
    Blockchain networks are permanently functioning and accessible, which gives them another distinct advantage over ‘traditional’ centralized / individually owned and managed transaction infrastructure.
    The high availability means that there is zero chance of any “down” period where transactions cannot be recorded or agreed upon and open for later ‘dispute’; this is because there is always a recording mechanism going on, 24/7,to track and record and obtain consensus on every transaction in perpetuity.
    In that sense, Blockchain effectively renders the “rewriting of history” virtually impossible.

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain operates on the principal of “incentivization”, which basically invites nodes or members to join the network on the premise of being able to earn money. The less members there are in the network “mining”, the more chance of network members to earn income.

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1.To challenge the community to be creative. To be rewarded. To find new solutions. To always have the possibility to pay. That the systems work.
2.Who has my money ? Everyone wants some juicy Value for his work.

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  1. Why is it important for blockchain networks to be high availability networks?
    Because that’s one of the most important qualities it has that in always on 24/7/365
    So they’re available at all Times to Show how Secure the Network is.

  2. What is it that enables blockchain networks to have such high availability?
    The Financial Reward that has to keep this Network alive keeps the network Growing and expanding

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  1. For all use cases that need high availability, also that we can mine - protect the network at all the time.
  2. Incentives
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1.Blockchain is a dentralized network solution, it is vital for its operation that the network is highly available. Blockchain has got factors like provenance and consensus which can be only ensure with good number of nodes and highly availabiliy ensures this. Also blockchain is an immutable ledger and these ledgers are usually very important transactions so these transactions should be avaialble all the time.

  1. Being incentive to the people who are mining in the blockchain network enables blockchain to be high available. As there are always miners on platform, it ensures that there are active nodes on the network to maintain the blockchain.
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It is important for blockchain networks to be high availability networks because it is important for globalization staying alive 247/365 and that is how people are incentivized to make money.

What enables blockchain networks to have such high availability is the desire of people to make money. If in the blockchain some computers go down, then there will be more miners to jump in to keep things going. Incentives.

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  1. Why is it important for blockchain networks to be high availability networks?
    We need to be able to access data when ever we need it. Some financial company´s for example do not operate in the weekends. We have gone past those times and need to have access at all times.
  2. What is it that enables blockchain networks to have such high availability?
    Its not like we run on one server. The blockchain uses multiple computers on a global scale that are waiting inline to do their work to keep it running even when 80% is offline. Aka mining.
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  1. So it can be used 24/7, 365 days year. For a financial network this is important for example. If their network is down, people can’t use their financial services.

  2. It is run worldwide from multiple locations. If one area gets a power outage, all the other areas can still run the blockchain because they all have the same copy.

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  1. Everyone want to earn money, is more trustless, is running 24/7/365
  2. 24/7/365 mining, incentives
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It is important for blockchain networks to be high availability networks because people need to make transactions and have access to information 24/7/365.

Mining enables blockchain networks to have such high availability. Minors are incentivized to mine blocks and keep the network running 24/7/365. More mining, less incentives, less mining more incentives.

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1. Why is it important for blockchain networks to be high availability networks?
Blockchains are a global infrastructure so it requires easy access at all times by anyone in order to be of any use
2. What is it that enables blockchain networks to have such high availability
Incentives to keep security high and also a reward of contribution

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Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Because it creates incentive to keep the network alive and motivates mining to create increased security for more the network,
  2. What is it that enables blockchain networks to have such high availability?
    High availability is enabled by two factors: the constant availability (24/7, 365) and the fact that if one computer goes down another computer quickly fills that gap in the blockchain, to improve that security.
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  1. Blockchain networks must maintain high availability to ensure no centralization can happen and that consensus continues.

  2. Financial incentives create high availability

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  1. It is important for blockchain networks to be high availability networks because users trust the protocal set in place on a global scale making it accessible all around the world.

  2. Blockchain networks have such high availability because there are good incentives for people to support protocol .

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

Like centralized networks, 24/7/365 maintainability is required to ensure the network processes continue to function globally. The benefit with Bitcoin and Cryptocurrency is that a large portion of the network can go down but will continue to run due to the untold amount of decentralized miners keeping the network up whereas a centralize entity can experience regional, if not global, downtime for all users if their main systems experience an outage.

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

The prospect of making money attracts many kinds of individuals and groups to maintain the network by continuing to mine Bitcoin. Regardless of how many miners or portions of the network drop out, there are many more entities that will take their place due to mining difficulty decreasing and making it easier to mine more.

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  1. Why is it important for blockchain networks to be high availability networks?
    A blockchain network should have a high availability so that the users of the network are always able to use the network anwhere, anytime.

  2. What is it that enables blockchain networks to have such high availability?
    The rewards for keeping the network’s high availability incentives people to contribute. Which will repeat the circle and users will keep using.

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To keep the system running and secure

  1. Everyone are incentiveized for running the network or mining.
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  1. High availability allows the network to meet global transaction demands regardless of the timezone.
  2. Mining and monetary incentives encourage individuals to verify transactions while simultaneously providing network security. When mining population decreases the rewards for miners increase thus encouraging more miners to enter the ecosystem. This rotation of supply and demand allows for equilibrium to be achieved on the blockchain.
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