Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3054
  1. It’s important to be high availability because it is a global network that is continuously running which is important to keep the network functioning properly and create a trustless enviroment
  2. incentivized mining
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#3055
  1. High availability of a blockchain network is essential for global users of the network and services built on top to work correctly.
  2. An incentive mechanism/structure enables the high availability found in blockchain networks. Miners and/or stakers collectively keep the network running and are compensated for doing so.
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#3056

  1. Why is it important for blockchain networks to be high availability networks?
    High availability ensures the networks survival. The more accessible it is to use then the stronger it becomes.

  2. What is it that enables blockchain networks to have such high availability?
    Incentives such as mining tap into the human need and want to make more money. If miners stop mining then the algorithm gets easier, incentivising more mining. The power of blockchain is that mining can be done anywhere and so shortfalls can be filled by people throughout the world.

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#3057
  1. The network needs to be available at all times of the day for transaction to occur and be a reliable source rather than a trusted third party.
  2. Incentives and open source tech allows for anyone to join in and contribute.
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#3058
  1. Because it is available 24/7/365
  2. Because incentives are provided
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#3059

1. Why is it important for blockchain networks to be high availability networks?
to serve everyone at time ,guarantee credibility of bitcoin ,avoid financial losses

2. What is it that enables blockchain networks to have such high availability?
the mining , the blockchain is biggest cluster in the world each computer can be a node of blockchain

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#3060

1 - It’s very important because the network has to be available 24/7. Like the internet connection, the blockchain network is required to be accessible at anytime.

2 - The blockchain high availability is guaranteed by all the computers connected to the network across the world.

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#3061

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

This provides security and reliability to every user and is an essential part for further blockchain adoptions.

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

There are incentives to run the parts of the network, this ensures the blockchain status is “always on”.
Rewards come from the mining process and are scaled by certain parameters like difficulty and number of miners.

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#3062

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

Because it nees to be available 24/7/365, and let users do their transactions whenever they want.

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

Financial incentives for mining the transactions. The nodes have a monetary reason to protect and keep the network alive.

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#3063
  1. Why is it important for blockchain networks to be high availability networks?
    High availability incentivize surroundings and gives as a handling hand all 24 hours every day , it gives us a security because of this high availability.
  2. What is it that enables blockchain networks to have such high availability?
    Generally the miners and which has ledgers copies on their computer so any time one comp is dead there are others continuing the story.
1 Like
#3064

Homework on High Availability - Questions

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

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

  3. They need to be running 24/7.

  4. Mining. Miners get rewarded with new coins. It is easier to mine coins if there are less miners which makes more miners to start mining.

1 Like
#3065

Homework on High Availability - Answers

  1. Provides 24/7/365 infrastructure, critical for certain industries (global financial systems, other). Network is continuously operating with no downtime.

  2. Users are incentivized through ability to make money. If portion of network goes down (fire, power outages, etc.) other computers are ready to fill the void. Mining provides opportunities and incentivizes the continuous operation of the network.

blockchain.Ronin

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#3066
  1. High availability means constant progress. It means that everyone in the world can access it without timezone penalties. It allows everyone to freely use the system without downtime.

2.The fact that it is incentivized. Everybody on the blockchain wants to make money and provide/generate value and the blockchain allows this. The fact that bitcoin network is the longest running network on the planet says everything :smiley:

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#3067

  1. It is important to keep the network alive and transaction running. If the availability goes down, users go down, mining fees go down, network becomes less secure.

  2. We have financial incentives to keep the network running 24/7 which is important for a global financial system.

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#3068
  1. To protect data and provide high security.
  2. The people who wants to make the money, miners.
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#3069
  1. in order people to interact with the chain globally it must be available 24/7
  2. high availability is maintained by the mining community
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#3070
  1. Why is it important for blockchain networks to be high availability networks?

as it is being used in a lot of financial, social, creative, and industrial sectors deriving benefits from it everyone is incentivized to keep it alive

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

if anything ever happens to any one of the computers operating a ledger and it goes down another computer picks it back up… most of the time thanks to mining for new profits

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#3071

  1. Why is it important for blockchain networks to be high availability networks?
    Security will be at risk, if network availability is not high.

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

1 Like
#3072

  1. Why is it important for blockchain networks to be high availability networks?
    For critical processes and functions it is a necessity. For efficiency it is imperative. No downtime.

  2. What is it that enables blockchain networks to have such high availability?
    Due to it being a decentralised network, if any area or part of the network is down due to the mining payoff mechanism new nodes will be added to replace down areas. So unless a global catastrophe, at no point will the whole network be down.

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#3073

1.Blockchains need to be highly available so that companies can keep functioning. In payments for example, you can’t have the network offline when you’re trying to buy something.

  1. In the case of bitcoin, the mining algorithm keeps the network online. If a portion of it goes offline, other miners will join because the difficulty will be lowered.
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