Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3074

  1. Blockchain networks need to be high availability because it increases the security of the network. The less computers running the network, the less secure the network is. With more computers, one being down, or attacked, is less likely to affect the network.

  2. Blockchain networks gain high availability through financial incentives. Computers working to keep the ledger are competing to be rewarded, so if there are less of them, it becomes easier to be rewarded, so others will join in to take up the role.

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#3075
  1. Why is it important for blockchain networks to be high availability networks?

Its important for the security and integrity of the blockchain. If one of the benefits of blockchain is to remove walled gardens and data silos by allowing publicly verifiable data, it’s also important that this data is available at all times.

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

If a part of the network goes down for whatever reason a new part of the network will spring up to replace it because of the new mining rewards that will have become available.

2 Likes
#3076 
1. Why is it important for blockchain networks to be high availability networks?
   This is because it ensures the high security & longevity of the network.
2. What is it that enables blockchain networks to have such high availability?
   Incentives
1 Like
#3077
  1. To keep the network secure. Work never stops, never down.
  2. Financial incentives, and if miners leave, then difficulty level decreases to incentivize more miners to join to secure network. Brilliant!
1 Like
#3078

  1. So that the Blockchain works at any moment. It’s a global chain. Everyone should need to use it.

  2. The high availability of blockchain is allowed thanks to its network : if a computers dies, some others can reach the network through mining. All of this in encourage via incentives

1 Like
#3079

  1. Why is it important for blockchain networks to be high availability networks?
    b/c everyone wants to make money.

  2. What is it that enables blockchain networks to have such high availability?
    24/7/365 internet accessability

1 Like
#3080

  1. Why is it important for blockchain networks to be high availability networks?
    Because the blockchain is always available and online to provide security so people can continue to make money.

  2. What is it that enables blockchain networks to have such high availability?
    The miners are incetivated to continue and new miner will join when incentives goes down keeping the network running.

1 Like
#3081

1.It is important to have high availability as this provides more power to secure the network in providing security through consensus the more nodes of the network.

2.Because miners are incentivized from the rewards to participate in the network.
The Mining becoming difficult on a high volume network but in the same time more secure.

1 Like
#3082

Because it is meant to work globally thus everyone should have access 24/7 whenever you are.
The mining process enables blockchain to be secure and functional 24/7

1 Like
#3083

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Local and global use 24/7/365

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

1 Like
#3086

A global network needs to be online 24/7 365 so everyne in the world can acces it make use of it and make money

Blockchain is able to achieve high availability because of the incentives and miners! when a miner doesnt continue someone else takes over

1 Like
#3087
  1. Blockchains must have high availability to be viable for mission-critical applications such as currency.
  2. Blockchains are highly incentivized to be kept verified and flowing and also, blockchains operate upon an established, highly available architecture, the Internet.
1 Like
#3088

  1. Why is it important for blockchain networks to be high availability networks?
    In order for everyone to depend on the network it must never go down. It must remain on 24/7/365. If a network is to be reliable and trustable then it must be available all the time.

  2. What is it that enables blockchain networks to have such high availability?
    All participants in the blockchain network are incentivized to keep their machines working to do the work of verifying transactions and these computers are rewarded, that is incentivized to do the work of verifying and updating the blockchain ledger of all transactions coming into the blockchain.

1 Like
#3089
  • Why is it important for blockchain networks to be high availability networks?
    It is important because it gives network high sequrity, with more people mining, more blocks are produced and network doesnt go offline
  • What is it that enables blockchain networks to have such high availability?
    People constantly mining are providing sequrity to blockchains, if some miners quit, new ones join in search for profit. Nodes keep the network always available
1 Like
#3090

1.- Because if a portion of the network dies or stops working, other part of the network will be still working and other participants could join.

2.- There are incentives that encourages participants to join the network, therefore strengthening the availability. So if participants leave or stop working, other should join incentivized by the network.

1 Like
#3091

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

  • It results in making higher network security.

  • It prevents portions of the blockchain network from shutting down.

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

  • Incentives - motivates and encourages miners. This reassures the blockchain network to run 24/7/365

  • When there are higher volumes of people on the network or Mining - it enables the blockchain network to have high availability.

1 Like
#3092

1 builds trust
2 incentive like mining

1 Like
#3093

  1. Available 24/7/365 infrastructure which can unite everyone on one standard

  2. every computer is incentivized which then helps secure network

1 Like
#3094
  1. It’s important so that it can be used all the time by anyone in the world. As it is constantly up and running it doesn’t matter where and when you access it.

2 The fact that miners are rewarded for the mining they do. The more miners the more secure the network is. If there are fewer miners it get easier to mine. This makes more people mine again.

1 Like
#3095

[quote=“ivan, post:1, topic:8426, full:true”]
Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    So that they are ALWAYS Accessible and Open for transactions 24//7/365 for business.
  2. What is it that enables blockchain networks to have such high availability?
    The structure of many nodes and the basis of using the Internet as the communications layer ensures that the system of Blockchain has HIGH availability exceeding 99.999% ON-TIME.
1 Like