Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3216

  1. Why is it important for blockchain networks to be high availability networks?
    If blockchain is a world database it needs to be available 24/7/365 days a year. It needs to provide high security to all transactions.

  2. What is it that enables blockchain networks to have such high availability?
    Minors are incentivized to keep the network running.

2 Likes
#3217

  1. Why is it important for blockchain networks to be high availability networks?
    To maintain the high security, every node/computer/miner needs to maintain that 24/7

  2. What is it that enables blockchain networks to have such high availability?
    Invcentivizing the computers that participate in maintaining the network and increasing security.

2 Likes
#3218

It is important because it not only supports a market that never sleeps but also all the other functions of the blockchain. Incentive provides the availability needed to maintain a blockchain network at all hours.

1 Like
#3219

  1. It is incentivized to make money, the minors will make more money with more transactions and transactions will take place all the time.

  2. Incentive to make money.

1 Like
#3220
  1. Why is it important for blockchain networks to be high availability networks?
    Answer: IT is important because they are global networks with participants in in all time so you want access to be 24/7.
  2. What is it that enables blockchain networks to have such high availability?
    Answer: Block rewards for mining incentivize participation all around the world 24/7. The difficulty automatically adjusts depending upon number of nodes to incentivize continued mining.
1 Like
#3221
  1. Why is it important for blockchain networks to be high availability networks?
    Blockchain network is designed to be accessible all the time to make the transaction happen anytime from anywhere that’s why it is very important to for blockchain to be highly available 24/7.
  2. What is it that enables blockchain networks to have such high availability?
    Blockchain network is based on incentives and people are motivated by getting rewards (money) to be available/online by doing mining that’s why blockchain is the most highly available network in the world, even if some portion of network goes offline due to any reason or software issue other computers will immediately join the network to keep it online and available.
1 Like
#3222

  1. High availability is important in order to enable a blockchain network to be accessed globally in all time zones around the clock.

  2. High availability is achieved by providing incentives to miners to maintain the network. The incentives ensure there is always a large enough number of nodes in the network to ensure trustlessness.

1 Like
#3223

  1. Its important for blockchain networks to have high availability as users demand a service that is running all day everyday.

  2. Blockchain networks have such high availability due to incentives- mining.

1 Like
#3224
  1. It makes it more reliable than any other networks
  2. Incentive / Mining
1 Like
#3225

1. Why is it important for blockchain networks to be high availability networks?
to be able to use it when ever and not be restricted to when you can use the network
2. What is it that enables blockchain networks to have such high availability?
mining is the reason it enables it to have such high activity for the reason that the less people mining means the easier it is to mine and earn bitcoin

1 Like
#3226

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

It is important for blockchain networks to be high availability networks because then it can be used for critical applications that require this kind of network. This way blockchain becomes a viable network for these applications.

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

What enables the blockchain network to have such high availability is the MINING aspect of it. Miners receive an incentive to keep the network running. If for any reason a portion of the network goes down the mining difficulty lowers.
This lower difficulty makes mining more profitable witch brings more miners to maintain and secure the network trying to make a profit.

2 Likes
#3227

  1. Why is it important for blockchain networks to be high availability networks?
    It constantly provides security 24/7

  2. What is it that enables blockchain networks to have such high availability?
    Incentives given through mining.

2 Likes
#3228

All transitions and information made through blockchain have to be verified by miners. Without miners constantly working with this the system wouldn’t be able to keep going.

The profession as a miner is the base to the network’s high availability. The people who make sure this works gets rewarded. If a miner decides to stop working with this it will get easier for other people to get rewarded and earn money as a miner.

1 Like
#3229
  1. Why is it important for blockchain networks to be high availability networks?
    High availability means 24/7 network means it never goes offline. It is important because since it is global people all around the globe need access 24/7
  2. What is it that enables blockchain networks to have such high availability?
    Mining
1 Like
#3230

  1. The money flow/applications never stop or shut down. network is always protected/monitored

  2. miner incentives

1 Like
#3231

  1. High availability networks are important in a globalized world simply because there is someone wanting to make money somewhere 24 hours a day and 7 days a week.

  2. Blockchains provide financial incentives to public nodes and miners for keeping the network up. The more network traffic the more money they make.

1 Like
#3232

  1. Why is it important for blockchain networks to be high availability networks?
    Because these systems need to be available 24/7/365

  2. What is it that enables blockchain networks to have such high availability?
    If a part of the network/ miners goes down, other miners step in and take over.

1 Like
#3233

Hi,

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

As discussed in the previous video, one intention is to have a global network shared and used by all. Such a network as to be up and running 24/7, all year round.

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

Pretty much by design. Decentralized with members of the network incentivized to keep the flame burning.

2 Likes
#3234

  1. To assure that the network can maintain a high level of security.

  2. It’s thanks to the incentivizes that are provided to miners .

1 Like
#3235
  1. As a decentralized network meant for the global community, having a 24/7/365 availability will make blockchain a go to network for everyone irrespective of their location or time zone.

2.High availability in blockchain networks is enabled through incentives. Everyone involved in network activities such as mining are rewarded financially to keep the system alive and protected.

1 Like