Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3356
  1. Why is it important for blockchain networks to be high availability networks?

High availability offers a 24/7/365 infrastructure, by offering great incentives this keeps the availability high which in turn means that everybody has the opportunity to make money around the clock where Bitcoin/crypto is concerned.

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

People that mine help the network to have such high availability and they also help protect the network too. If a percentage of the network was to go down, immediately there would be computers available to keep the network going. As long as there are plenty of incentivised miners, then there will always be computers to step in and protect the network.

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#3357
  1. Why is it important for blockchain networks to be high availability networks?
    If the blockchain is offline, no new transactions can be validated.
  2. What is it that enables blockchain networks to have such high availability?
    Mining enables the high availability. When people are mining they are rewarded, so they are incentivized to keep mining and keep making money.
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#3358

  1. High availability is important for blockchain networks because it’s use case and security depends directly on the availability it offers to it’s users.

  2. Because blockchain is so transparent and works continuously over time, is it able to offer high availability.

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#3359
  1. It’s important to have it 24/7/365 in order to have constant possibility to process the transaction using the Blockchain network. It proves as well, in the context of blockchain, how safe it is.
  2. Incentive to earn money :wink: once the number of miners drops, the new ones appear as mining is easier and then it may become profitable for one miners and so on. That gives an assurance that the Network will not disappear from one day to another.
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#3360

  1. Why is it important for blockchain networks to be high availability networks?
    It’s important because there is a lot going on in the networks and anyone can add other infrastructures to the network if they wanted to and everyone can use this network whenever they want.

  2. What is it that enables blockchain networks to have such high availability?
    Incentives to make sure everything is working normally.

1 Like
#3361

  • Why is it important for blockchain networks to be high availability networks?
    They have to keep a record of, and conduct many transactions from around the world in near real-time. The whole system falls apart otherwise.

  • What is it that enables blockchain networks to have such high availability?
    (Mining) Financial incentives ensure that there is computing power available to keep the network up and running.

1 Like
#3362

Homework on High Availability - Questions

  1. Important for BCs to be high availability networks so they are in service 24/7, 365 days per year;
  2. The incentive structures enable BC networks to have such high availability as less participants in the network means incentives are higher and easier to achieve, which increases participants and makes incentives harder. i.e. as network weakens incentives change, which in turn strengthens the network.
1 Like
#3363
  1. Why is it important for blockchain networks to be high availability networks?
    24/7/365 access for global users to interact with the network in their own timezones.
  2. What is it that enables blockchain networks to have such high availability?
    Financial incentives
1 Like
#3364

1.Because they are avaible in all over the world and free to trad world wide
2.inctives

1 Like
#3365

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
  2. What is it that enables blockchain networks to have such high availability?

1- It is important for blockchain networks to be high availability networks in order to be secure and monitor ledgers to keep track of and verify data making it trustless 24/7/365.
2- Mining and incentive to mining enables blockchain networks to have such high availability. Also the fact that this exist on the internet means that there are no open and closing hours.

2 Likes
#3366
  1. Your needs will be fulfilled all the time
    2.access of public .
1 Like
#3367

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Security and usability. If a network is not up it would not be usable when you want to transfer money or check money.

  2. What is it that enables blockchain networks to have such high availability?
    The incentives program that keeps miners active. As less miners mine there are more incentives for the remaining miners and as this happens more people mine and the incentives go down so it is always in a equilibrium

2 Likes
#3368
  1. Because money never sleeps.
  2. Fiancial incentives
1 Like
#3369

Why is it important for blockchain networks to be high availability networks?
It ensures that participants in the network can have 24/7 365 access anywhere an everywhere.

What is it that enables blockchain networks to have such high availability?
Incentives from mining keep the network online and ensures the blockchain cannot be disrupted.

1 Like
#3370

  1. Everybodys wants to make money, so network being always online increases ease of use to everyone on the world, anytime.

  2. If some portion of network dies and security temporarily decreases, the remaining miners increase their activity, because mining becomes more profitable. That way security becomes high again. Economy keeps the network running.

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#3371
  1. because it helps with the security. people need to use it all the time.
  2. miners in the blockchain. with the fact that blockchain is global it runs 24/7/365
1 Like
#3372
  1. Why is it important for blockchain networks to be high availability networks?
    With high availability the network becomes more reliable
  2. What is it that enables blockchain networks to have such high availability?
    Incentives to be online
2 Likes
#3373
  1. Why is it important for blockchain networks to be high availability networks ?
    For increased security and ease of use for the final user
  2. What is it that enables blockchain networks to have such high availability ?
    Incentives, rewards…
1 Like
#3374

  • As a global network, it should be always available so people from all over the globe can use it anytime. It can’t fail at any critical point when being used.

  • Mining, and incentives to keep it up and running all the time.

2 Likes
#3375
  • Why is it important for blockchain networks to be high availability networks?

Since, in principle, they are public metworks, connecting different sylos, and network does not know when each sylos will require to use it, it is important to be available always.

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

Decentralization and incentives. If part of the network is unavailable some other participant will join (due to incentives) making up for the missing part.

1 Like