Homework on High Availability - Questions

Blockchain and Bitcoin 101
#302

Timechane is allways up! No holes cause of no sundays! Nature dont love emty space! Spot where some dinero cn be made, gone be filled!

#303
  1. Blockchain networks aims to be a global protocol.The world never sleeps. Blockchain’s use cases are often situations where downtime is not an option. ex: Global Transfer of value, acces to important (and private) information etc.
  2. When a part of the network fails, other computers are incentivized to join and make the network more robust and secure again. Unlike a normal centralized database there is not a single point of failure.
#304 
**1. Why is it important for blockchain networks to be high availability networks?**

Its really important because you can have all of the people in the world at any time of a day and at any place of the world using blockchain networks. With high availability blockcain networks you can send or receive funds, search for businesses or for products 24/7/365.

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

Mostly incentive money profits. Also having a high availability blockchain network means eventually gaining trust and having a stronger, faster and bigger network that is more secure and user friendly and also more profitable for businesses.

#305
  1. Activity at global level never stops so sistems like payments, tracking are dependent on a blockchain network available 24/7.
  2. Mining incentivize people to keep the sistem online.
#306

1. Why is it important for blockchain networks to be high availability networks?
To secure even more the network and become a global infrastructure to make it easy to use to any person, assure it will be up 24/7/365 so everyone around the world can access the system at any time.

2. What is it that enables blockchain networks to have such high availability?
The nodes helps to spread the data around all the participants, so every one have the correct data globally and making it available at any moment.
Miners secure the network by hashing mathematically all the output data and made them reach it destination.

#307

  1. By having high availability, you incentivize the people to come and mine for your hashes, and you both prosper.

  2. I’m not sure how to answer this question, it feels like its more of a bigger question.
    I believe blockchain networks have high availability because people in general value “proof of work” and the values behind a decentralized system. People trust the reward, the coin, that is given to them.

#308

  1. Why is it important for blockchain networks to be high availability networks?
    Because it is crucial in running a global financial system, that the network is highly accessible & protected (via mining).

  2. What is it that enables blockchain networks to have such high availability?
    Everyone is incentivised to keep it alive & running, allowing people to make money.

#309

  1. Why is it important for blockchain networks to be high availability networks?
    It is important so it can be available at anytime and hour.

  2. What is it that enables blockchain networks to have such high availability?
    The incetives to maintain the network active.

#310

  1. Why is it important for blockchain networks to be high availability networks?
    Firstly it betters the credibility of blockchain technology when it is of high availability network. Security is high as more and more people/computers are there in the network.

  2. What is it that enables blockchain networks to have such high availability?
    Whoever joins the network is incentivised. Therefore there is a higher likelihood of more people joining the network, thereby increasing its security and high availability

#311
  1. High availability is needed to support all of the transaction activity 24/7/365. If the network is not available it will die sooner or later.
  2. High availability is incentivized financially through mining activity in POW blockchains, and staking in POS blockchains.
#312
  1. Why is it important for blockchain networks to be high availability networks?

Because the number of users corresponds directly to the security of the network as a whole.

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

Human nature - because everyone wants to make money. Blockchain networks use incentives (in a form of payments) to make miners want to contribute to the network and further improve it’s security and stabilty.

#313
  1. High avaiability is crucial factor for the expension of the abundance of ones wealth reserve.
  2. The revolutionary fact that it’s open on line for trade around the clock throughout the whole year round.
#314

High availability distinguises blockchain from other networks which are not open 24/7/365. It is enabled by the incentive structure that means there will always be miners

#315

  1. If blockchain is to be used globally it needs to be available all the time because businesses may depend on it.

  2. Because of incentives.

#316
  • Why is it important for blockchain networks to be high availability networks?
  • What is it that enables blockchain networks to have such high availability?
  1. It is important for blockchain networks to be a high availability network so that it ensures a point of access to the network to be indefinite and it can always be secure.
    2.Mainly financial incentive enables the blockchain to have high availability through mining we protect the network and ensure it never dies.
#317
  • Why is it important for blockchain networks to be high availability networks?
    For the users to maintain a value relationship of reliability and the miners to keep
    incentivized and thereby keep the blockchain secure through the hashing.
  • What is it that enables blockchain networks to have such high availability?
    The miners enable this through the incentive of profit.
#318

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    There is always someone doing transactions 24/7 globally. Blockchain networks are for the global audience so it has to serve a global timeframe too.
  2. What is it that enables blockchain networks to have such high availability?
    incentives enable high availability. When we have good incentives to mine, the network will be up and running 24/7. Mining and difficulty adjustments take care of this automatically between certain number of blocks
#319
  1. It simply makes it superior to existing networks. its used to transfer value globally so it is best that it is always available for transactions. You need it to be working when you purchase your groceries.
  2. Incentives
#320
  1. Why is it important for blockchain networks to be high availability networks?

Trust and security, and also practical use cases. Banking online is generally 24/7/365 after all.

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

Financial incentives to run nodes. The desire for all to make money.

#321
  1. For security and it works 24/7 with comp
    Power where one fails the others do the job.
  2. Mining / incentives been taken by the miners