Homework on High Availability - Questions

[frmrlayman1]

1. It is important for blockchain networks to be high availability networks because they need to be active at all times to promote continued use of the ledgers on the network and provide security.

2. The fact that the blockchain feeds off incentivized function is the reason for it’s high availability.

[katya]

1. Ease of accessing information, trust
2. People incentivized to mine

[DaveF]

1. High availability is important in blockchain so that it can be accessed 24/7/365. Certain sectors that rely on blockchain need it to constantly providing information to the network so it can be access by others.
2. High availability is enabled by miners that keep the blockchain moving at all times.

[HereWeGo]

AMAZING! THANKS, masrsrvr!

[HereWeGo]

1. Because they’re needed non-stop globally to make money with them or whatever a particular blockchain network allows you to do on it.
   If a blockchain network were not available at some given time it would have, at least, partially died.

2. The process of mining, which protects the network by increasing its security and incentivize economically those who mine for protecting the network.
   If mining declines on a blockchain network, the security of it does too and it becomes easier to mine, which attracts mining power to increase the security of the network and be more greatly economically incentivized for doing so than when mining power is high on the network.

[Mallar_N]

• Why is it important for blockchain networks to be high availability networks?
  Given that blockchain networks are decentralized and running critical business applications, it is important for them to be highly available. Morever the very nature of blockchain which works on consensus which requires voting mandates that the network be always available for all parties to participate.
• What is it that enables blockchain networks to have such high availability?
  The decentralized nature which provides each participant with full copy of ledger ensure that the blockchain network is always available even if a part of the network becomes inaccessible.

[ToshiLady]

1 - Because it is supposed to be a secure global infrastructure.
2- Mining incentives, which is a financial reward to miners/nodes.

[Rohit_Kamble]

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

• Blockchain is decentralized and in order to validate the transactions, the network has to be available 24 by 7 365 days.

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

• Network of computers that are keeping the Blockchain network available and validating the transactions by doing a match and following a protocol are given financial incentives and hence blockchain network has such high availability

[Anugata]

@ivan

• 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. To let everybody access the public ledger and play the same rules, check if any parties are treating.
2. Full nodes that are online(ran by miners) enables the network to have high availiablility.

[Twenty_Seven_Sounds]

High Availability Answers

1. It is important for Blockchain networks to be high availability networks for security & immutability.

2. It is Blockchains’s decentralized nature that is financially incentivized to keep the network alive, that allows for such high availability.

[FlyingDutchman]

High Availability – Module 9 – Homework

Homework on High Availability – Questions

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

So that everyone at all times on a global scale can have 24/7 – 365 access to important information stored on the blockchain pertaining to the global financial system and all other applications that can be build on the blockchain.

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

Mining through financial incentives keeps the blockchain network online 24/7 – 365 and gives it high availability.

[lorien]

1. Its important for blockchain networks to have consistent and high availability if we are to rely on them for any type of application that is needed for day to day life (communication, banking, health care, shopping, etc) Same reasons its so important for everyone now that the internet to have high availability

2. Blockchain networks are more resilient in terms of availability because they are comprised of a network of decentralized nodes, running on different portions of the internet. So even if a single node or group of nodes loses their connectivity it wont take down the whole network because plenty of other nodes will still be up and running. And since there are financial incentives to running nodes, even if some nodes permanently go offline others will gladly pick up the slack in order to make the money from mining.

[Zulu1]

1. Why is it important for blockchain networks to be high availability networks? It’s important because blockchain is a global network, making itself available to everyone.

2. What is it that enables blockchain networks to have such high availability? The high availability relates to blockchain accessibility 24/7 and 365 infrastructure. It’s always online and always available.

[McRiaidhri]

It needs to be high availability to secure the network, as it is a global network there is always computational power somewhere in the world mining bitcoin the more blocks being copied, the more security to the network.
2.insentives are created by mining bitcoin…
Mining is difficult work, it is takes resources/ electricity/ time/ work output this is what drives miners to create new blocks… through getting paid to do so.

[BenObi]

1 there is always somebody online and using the network in a network that is functional over the whole world
2 greed is keeping the system alive, as long as there are monetary incentives to do the work

[Greyhoundjames]

1. For security and reliability. Mining helps stability and security for the network and everyone wants to make money.

2. Mining and Incentives enable the networks to keep the infrastructure alive.

[LM73]

1. it is important for blockchain networks to be high availability networks so everyone has access to the network 24/7 365 days/year

2. incentivization to make money is what enables blockchain networks to have such high availability

[BELINDA]

1- Been 24 hours available all year round, it makes to unite more people in the network and incentivized to protect the network.
2- The miners are incentivized, they protect the network, taking the security up.

[esse2k]

1. It is important because people around the globe may use it at whichever time they need it so it needs to be always available and secure.
2. Miners and nodes are incentivized to keep the network running well. If there are fewer miners then mining becomes easier, which produces more miners.

[Forrest_King]

1. Incentive -we all want to make money

2. Mining