- Why is it important for blockchain networks to be high availability networks?
Globally available and secured 24/7
- What is it that enables blockchain networks to have such high availability?
Global network of miners, financial incentives.
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- it is necessary for efficient operability
(2) What is it that enables blockchain networks to have such high availability? - incentivized miners
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- Why is it important for blockchain networks to be high availability networks?
Ans: 1. Bitcoin really united everyone in the world in a financial manner. No matter where they are from, what kind of beliefs they have, what kind of prejudice they have, everyone wants to make money.
The high availability of the blockchain network infrastructure which has been functioning 24/7/365 obviously facilitates the Global financial system and many other applications that are built on top of block chain helping people to meet their business and financial needs of secure and verifiable transactions.
- What is it that enables blockchain networks to have such high availability?
Ans: 2. Everyone in the network infrastructure is incentivized to keep it alive.
Incentives are very important because if there is a case that a portion of the network dies for some reason, like failure of electricity, or some software issues , Immediately other computers will join the network because of mining. This is a 24/7/365 function that enables the block chain network to have a high availability. 
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Why is it important for blockchain networks to be high availability networks?
There are approximately 24 - 27 different time zones in the world, blockchain networks needs to be fully available for all time zones. -
What is it that enables blockchain networks to have such high availability?
Miming = never offline = high availability
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Trust in the availability of a blockchain network is important because that encourages other applications and ecosystems to develop on top of it.
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The incentive structure is such that if some portion of the network fails it increases the profitability for those nodes that remain, thus encouraging other nodes to come in and fill the void left by the missing nodes. This leads to robustness of the system.
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By being a high availability network, which the Blockchain is, it functions 24/7 and thus has an edge over other networks that cannot avoid downtime. Being available at any time also means that it is being constantly updated ‘‘to the latest version’’.
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In order to be at such high availability, the blockchain needs to be kept up-to-date at all time, meaning the process of verifying transactions into blocks and adding them to the blockchain has to keep going no matter what. This is achieved by the fact that the network of miners is global, which means that even if for example a connection or internet problem should occur in a given city/state or even country, the fact that the blockchain network is spread all over the world ensures the fact that it will keep running updated and without any problems. The only case where something could disrupt the functionality of such a network would be if the internet stops all over the world at the same time which probability is close to zero.
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1.constant opportunity to make money
2.mining
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- High availability confirms bitcoin’s solidity and stability. It can not stop running.
- Incentives allows the blockchain to have such an availability.
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Blockchain technologie need high availability to run secure, stable and to be available to people worldwide.
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Availability is provided due to several nodes that forms the distributed ledger. This can be scaled with only few limitations and as it grows availibility grows as well.
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1. Why is it important for blockchain networks to be high availability networks?
it is important for a highly financial system. secure global infrastructure, and many other applications that could be done on the blockchain. If in case a portion in the network is down for some reason, immediately other computers will join in the network.
2. What is it that enables blockchain networks to have such high availability?
I believe is because everyone has an incentive to keep it alive. 24/7. Everyone wants to make money, therefore by enabling incentives for miners, it keeps it at a high availability.
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Because of the financial incentives.
when miners stop mining, the difficulty of mining will drop wich makes it easier for others to mine and get rewarded to produce new blocks to confirm transactions
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Why is it important for blockchain networks to be high availability networks?
Because it is a global database, ment to be accessed by everyone, thus anytime. -
What is it that enables blockchain networks to have such high availability?
When mining becomes to hard and nodes (people) will stop and drop mining, or people stop mining for various other reasons, maintaining the network will be at stake. Thus the protocol will decreases the difficulty of mining to ‘lure’ more people back in and keep maintaining the network on par.
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By having high availability, the incentive is also greater, which guarantees security to the network.
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The number of users that keep the network running at all times and that being decentralised is not affected in the event that some of the parties collapse
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Homework on High Availability - Questions
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Why is it important for blockchain networks to be high availability networks?
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What is it that enables blockchain networks to have such high availability?
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To enable access 24/7/365, which is a huge advantage against traditional markets. Also, being a global decentralized database, it is used continually throughout the globe.
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Incentives. The more you mine, the more you earn. The more you earn, the more you contribute to the network.
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- If for some reason part of network can’t do work, others can join to do job
- Incentive (all about money)
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1.Why is it important for blockchain networks to be high availability networks?
so that everyone can continue to trust the network and protocol and also so that people can make money at any time
2. What is it that enables blockchain networks to have such high availability?
the incentives. you make money by mining and keeping the ledger up to date, so computers will be running all the time to capitalize on this and make money
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the blockchain needs to be availble 24/7 365, the network is global and miners are incentivised from earing transaction fees and block rewards
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- Why is it important for blockchain networks to be high availability networks?
So that transactions can always be processed. So that there is never a downtime - a period where transactions are not processed. The blockchain is never in a shutdown period, nor offline.
- What is it that enables blockchain networks to have such high availability?
The redundancy in nodes. Multiple independent sources that, together, create the transaction network - the blockchain --> miners. There is financial incentives for miners, as such, the blockchain never sleeps … or at least, has not yet.
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- It is important for blockchain networks to have high availability in order to remain globally relevant in their use cases. They need to function at all hours, every day; there should not be a bias toward any time zones as there would be if there were only certain hours the network was operating.
- The fact that blockchains are global and decentralized networks with incentives enables the high availability by ensuring a wide array of players from different locales and having no central point of failure. If anything goes wrong, new network participants fill in immediately, motivated by the incentives.
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1-to keep the network alive and protected.
2-the financial incentives involved, thus financially incentivizing users to keep the network alive
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