Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3436
  1. it is important for blockchain networks to be high availability networks because it never turns off. its on 24/7 365 days a year. There is a need for reliability with the access to the network as well as the utilization of the database.
  2. because there is no central point of failure, decentralization and incentives allow the blockchain networks to have high availability.
1 Like
#3437

1.High availability for the blockchain is important because it give relieble acces to the information of that blockchain.

2.The decentralization of the network (to be having a copies of the blockchain on every network participant).

1 Like
#3438

  1. If the main goal for blockchain is to create decentralized global networks then it is important to be available.

  2. Blockchain networks are high availability because the people are incentivized to maintain and develop the infrastructure of it.

1 Like
#3439
  1. Everyone wants to make money. High availability is important for a global financial system; currency is just one application of this.
  2. Incentives enable this high availability. Everyone is incentivized to keep it alive, individuals make money protecting the network.
1 Like
#3440

  1. It is important, because the network needs to be available 24/7 for transactions. It needs to be up 24/7 because it is for everyone in the world & they are all in different time zones.

  2. Incentives or rewards make more people want to join & secure the network.

1 Like
#3441

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

    • It is a 24x7x365 requirement to be global.
    • Security of the network [in that the number of blockchain nodes from indepent entities is required for best security].
    • It builds trust, reliance - if it was down resources are locked up, and it could be a rug-pull for assets.
    • Unlike the NASDAQ, S&P500, DJIA blockchains run 24x7. It is more like visa in the 24x7 needs.

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

    • The internet infrastructure it is built on with multiple and adaptive routing)
    • The decentralized nature of blockchain where a single or a few DDOS attack would not cripple the network.
    • Incentives to miners to keep running
    • No single points of failures, even if a group of nodes went down.
    • It is open for ANYONE to participate.
1 Like
#3442

  1. It is important for constant accessibility to the network because of possible business transactions that may need to happen. It is a global infrastructure that requires activity and this activity helps ensure security. If a new block needs creating, being able to access the network 24/7 is vItal.

  2. The fact that individuals/organizations want to make money, incentives for increased financial gains.

1 Like
#3443
  1. Why is it important for blockchain networks to be high availability networks?

Itā€™s important for blockchain networks to be high availability networks so it is provided with security and trust built on an global infrastructure.

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

Given miners incentives and rewards to participate on the network.

1 Like
#3444

Homework on High Availability - Questions

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

Because it is a global network being used 24/7/365 & it is essential for a secure global infrastructure (which is achieved through incentives).

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

Incentives - everyone wants to make money ! Also the nodes enable high availability because if one/numerous nodes goe down (in a region for example) other nodes somewhere else in the globe have the full copy fo the ledger and can take over.

1 Like
#3445
  1. Never offline, always accesable wherever you are
  2. Financial reward could be one case but people would run to the next big thing to keep it online and the only true ā€œledgerā€ to store information would be on a blockchain where everyone take part in the system for the system to work.
1 Like
#3446
  1. Not only because people depend on their transactions to be accessible but also because its accessible to anyone around the world. If it couldā€™t run 24/7/365, it would be left vulnerable.
  2. Because it is run by protocol and math. Also because the network and everybody who uses the blockchain network receives financial incentives to keep it running.
1 Like
#3447

  1. To keep the network always working and ā€œaliveā€.

  2. The fact that it is financially incentivized in a global level. It can be mined from anywhere in the world.

2 Likes
#3448
  1. So that there is always an ability/incentive to make money e.g. mining.
  2. that incentive makes sure that there is always enough miners - more networks thus keeping the whole network alive.
1 Like
#3449

  1. Blockchain networks need to be of high availability so that transactions on the network can be completed 24/7. The distributed nodes give it a strong advantage in maintaining 100% uptime.

  2. Distributed nodes enable blockchain networks to have such a high availability because one or several nodes may be down but there are always a large amount of nodes available to process transactions. The incentives for mining (used to validate transactions) adapt to the conditions, offering greater incentives if the amount of mining being done is low.

1 Like
#3450

  1. For people to have access to it at all times. It is a global financial network

  2. Incentives will keep computers mining at all times

1 Like
#3451

1.The higher the availability of the network the more secure the network become, meaning use it if you donā€™t want to lose it.

  1. Financial reward,
1 Like
#3452

A blockchain network need to be constantly available to ensure dependability

Blockchain networks are have high availability because people are always mining

1 Like
#3453

  1. Becouse it is global, we are using it all the time (24/7).

  2. becouse of financal incentivizde, fi some people stop mining, new people will start mining, becouse they want money.

1 Like
#3454
  1. Why is it important for blockchain networks to be high availability networks?

A blockchain network functions as a publicly available ledger. If there is a transaction that needs to added to a block, it means that there should be nodes available for validation. If the network would be unavailable it would mean that no transactions could happen.

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

It decentralized nature combined with the fact that contributing to the network is incentivized. Meaning that nodes are needed for the network to function (not merely one machine) added to that is the fact that contributors to the system receive incentive once they do.

The nature of the incentive is made dynamic on purpose for it to fluctuate dependent on the difficulty level meaning that a lower difficulty will make it more tempting to contribute, thus keeping the network up and running.

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#3455

  1. Blockchain networks are 24/7/365 infrastructure meaning they are always online. Because of this many applications, such as financial, need this infrastructure to operate at all times.

  2. Incentivization keeps the network alive at all times. Mining securitizes the network.

1 Like