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Why is it important for blockchain networks to be high availability networks?
Because it’s a true global network. Money don’t sleep. -
What is it that enables blockchain networks to have such high availability?
The constant economic incentive to keep the network protected. Less miners > lower security > higher incentives > new miners > higher security
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Homework on High Availability
- Why is it important for Blockchain Networks to be high availability networks?
- Because it is used by various Global Financial Systems, that require and depend on high availability networks. For instance, the level of availability of the network, will directly impact the productiveness of the company, because if you can rely on high availability it will reduce the possibility of system failures that can cause downtime. Thus, a lot of reliance is placed on high availability as it is important for Major Financial Enterprises to access their data easily at any time.
- What is it that enables blockchain networks to have such high availability?
- High amount of mining being conducted globally, with high incentives keep people motivated to continue with mining, enabling blockchain to have a high availability factor.
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- So that the trust and verification levels are maintained, adding confidence to the system
- Payment motivated
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1 it is important for networks to have high availability because then you can constantly use it and it spikes in value keeping it alive
2 people want to make money off mining so when others sign off that creates space for people to sign on
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- Why is it important for blockchain networks to be high availability networks?
It is needed for adaptability and survival. - What is it that enables blockchain networks to have such high availability?
The incentives and rewards provided to miners by the system.
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Why is it important for blockchain networks to be high availability networks?
Bitcoin runs 24/7/365 and remain available for everyone that have a high use business requirement for high availability, like those that want to make money
What is it that enables blockchain networks to have such high availability?
Longest living application of all time is due to incentives to keep bitcoin alive.
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Homework on High Availability - Questions
- Why is it important for blockchain networks to be high availability networks?
The network is accessible 24 hours a day 7 days week and never goes down. - What is it that enables blockchain networks to have such high availability?
Incentivized rewards for mining and computational power
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1.Why is it important for blockchain networks to be high availability networks?
As accessibility is important in order to sustain mining operations and keeping all the transactions running
2.What is it that enables blockchain networks to have such high availability?
Because it runes on nodes all over the world, enables it to run no matter if server goes down in one area. Its geo independent
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- BC unites everyone in the world because everyone wants to make money and it is the longest running database so far and it is highly available as it is open 24/7 365 days a year.
- when a portion of the BC goes down immediately more computers miners arrive and join the network which makes it more secure.
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its global and needs to be accessed all the time.
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Incentives.
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Why is it important for blockchain networks to be high availability networks?
It’s the only global network of its kind which runs 24/7 365 - blockchain never sleeps -
What is it that enables blockchain networks to have such high availability?
The incentive of financial rewards through mining
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Why is it important for blockchain networks to be high availability networks?
Blockchain networks were meant to unite the whole world and they do just that. This is why it is important for them to be easily accessible by anyone around the world. Their availability is crucial for this reason. -
What is it that enables blockchain networks to have such high availability?
The incentivization of mining is behind the high availability of blockchain networks. The fact that miners are incentivized means that there will always be people waiting and willing to mine if the current miners stop for one reason or another. People’s desire to voluntarily engage in mining and the incentives of it make it an attractive venture that sustains the network.
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Why is it important for blockchain networks to be high availability networks?
High availability networks are important because they’re more accessible. If it’s anything like Bitcoin then anyone with an internet connection can participate. It run 24hours, 7 days a week, and 365 days a year. -
What is it that enables blockchain networks to have such high availability?
The incentives are what enables a blockchain network to have such high availability. It plays on everyone’s desire to make money. Mining is a great example of incentive based work, the more participants, the higher the security, and the higher the security the more stability in a network.
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- A network which covers important issues like finance and authentic ownership or other important documentation data needs to be active 24/7/365 if we want top ensure that the information does not get lost
- through a mining process which is financially incentivised
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- Why is it important for blockchain networks to be high availability networks?
Blockchain network’s high availability heightens its security and efficiency by being constantly monitored and remaining consistently connected with itself.
- What is it that enables blockchain networks to have such high availability?
The high availability of blockchain networks is due to its value incentives earned through mining blocks. The difficulty of mining is raised the more that they become active on the network which will trigger a decline in the number of active miners, however, the difficulty of mining is lessened when fewer miners are active. As a result of any new decline in active miners and mining difficulty, the value earned through mining ironically incentivizes more to immediately join, quickly stabilizing the original decline in miners, enhancing overall self-sufficiency, and allowing the network to “organically” maintain it’s own high availability.
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Why is it important for blockchain networks to be high availability networks?
247365 because the world never sleeps and if network was not high availability then few would use it. -
What is it that enables blockchain networks to have such high availability?
Incentivization by miners to always be working to take advantage of lulls and make more money/bitcoin.
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1.to make the security high in the network
2.everyone is incentivices to keep it live, everyone want to earn extra cash no matter who you are.
mining gives your profit, when a portion of the network dies other computer will join the network because profits have gone down, the higher avaiability or mining the more security it has, when people stop mining the easier mining gets
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- Because blockchain works 24/7/365, no holidays, like banks.
- If some computers-miners will stop mining, mining difficulty will decrees,and there always be somebody who will start mining, to get some financial benefit.
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1: because for world-wide adoption. It must be on 24/7 365. People don’t only wanna use it monday to friday 9 to 5
2: nodes around the world with a copy of the blockchain. Network always available
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It is important for blockchain networks to be high availability networks because certain programs or protocols on the blockchain require high maintenance and high operational standards in order to function optimally. It must be accessible 24/7 through via a stable internet connection.
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A stable, constant internet connection and incentive is what enables blockchain networks to have high availability.
Feedback is appreciated! 
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