Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3477
  • 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. Because everyone needs immediate access to it, especially to money funds.

  2. Incentive enables Blockchain networks to have such a high availability.

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#3478

  1. Why is it important for blockchain networks to be high availability networks? it is important to have high availability on block chain because this way if a few nodes go down, more nodes can take the place of the missing nodes to validate the situation etc.

  2. What is it that enables blockchain networks to have such high availability? it is the incentives that make block chain networks have a high avability.

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#3479
  1. Why is it important for blockchain networks to be high availability networks?

To have high and stable security within the system.

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

Mining incentives!

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#3480

1)The very reason Blockchain is made decentralized is to enable the network of computers connected to the blockchain to be powered separately around the world. That enhances high availability of the network because if one node is down another node will be running, also making it very impossible for all the miners or node in the network to go offline at same time.

  1. The decentralized network of miners or nodes in the blockchain from all round the world sharing the decentralized open source ledger in the network enables high availability of the network.
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#3481
  1. Why is it important for blockchain networks to be high availability networks?
    It’s important for blockchain networks to be highly available as it shows strength and a sign of security. If the network was not available it would also show that there is a correlation between that and less people mining therefore meaning that the network is not as secure.
  2. What is it that enables blockchain networks to have such high availability?
    People are incentivised to make money by mining blocks and making the network more secure. If one computer leaves the network it is more than likely another will jump in it’s spot.
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#3482

  1. Everyone can access it anywhere in the world all the time. It is self explanatory why this is better to the mainstream system we have now.

  2. Decentralisation and incentivisation.

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#3483
  1. it’s required in order to ensure fast transaction processing at any time of the day and to ensure no compromising of the blockchain happens during downtime.
  2. Enables it to serve any country in the globe and at any time of the day
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#3484

  1. Why is it important for blockchain networks to be high availability networks?
    Blockchain provides a global infrastructure enabling various silos to work together. Making the network highly available causing its accessibility to everyone, anytime.

  2. What is it that enables blockchain networks to have such high availability?
    Miners make the availability high as they are being incentivized.

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#3485

The high availability of the network ensures that the blockchain cannot be disrupted no matter what, which is integral to its success.

The incentivization of connected computers by mining blocks as a reward.

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#3486

Answer to Question #1: Because it allows for 24/7 access and 365 day per year functionality, thus it extends existing framework beyond time limitations.

Answer to Question #2: The miners enable the network availability, they keep it operational and functional because there is always an incentive for them in a way for financial gain.

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#3487
  1. Why is it important for blockchain networks to be high availability networks?

being able to be operative 24/7 365 days a year makes it easier to use the network and do transaction. The more people are mining the more the network will be secure.

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

The rewards for the miners. The data i shared between all the ledgers. Having many people mining will make the network more stabile.

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#3488

Homework on High Availability - Questions

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

More opportunities for transactions. Also, the more availability, the wider the user volume.

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

Many nodes to serve as backups.

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#3489

  1. It is always available and gives credibility

  2. If users drop out of the network, it’s easier for those who are left to make money from validation. This attracts new users who want to make money on blockchain

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#3490

  1. Success of the network is based on the adoption of users. The more available it is, the more adoption will occur.

  2. The code is open source… anyone with internet access can join the network.

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#3491
  1. Why is it important for blockchain networks to be high availability networks?
    Because it needs to be available 24/7/365 for everyone’s requirements
  2. What is it that enables blockchain networks to have such high availability?
    Cause there are lack of central point of failure and the incentives are strong enough that even if some computers bow out, others will take their place for the opportunity.
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#3492

blockchain networks are available 24/7/365 so that anybody can access it at any given time all around the world.

incentives and mining enable blockchain to have such high availability.

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#3493
  1. High Availability means the blockchain can be constantly accessed to verify and new transactions added to it 24/7/365 so it survives. If a portion of the users are cut off and security drops, new users will come in and earn incentives and increase its security once more.
  2. It’s global, electricity is flowing somewhere in the world, and therefore incentives can be earned.
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#3494

  1. Why is it important for blockchain networks to be high availability networks?
    Because a global currency has to be available 24/7 to serve as a medium of exchange for man and machine.

  2. What is it that enables blockchain networks to have such high availability?
    The reason is simply the profit miners want to gain. If one stops mining it increases the profit of the other miners.

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#3495
  1. The world operates at different times and a blockchain must be 27/7 in order to be a global system.
  2. Minners and computer network enables blockchain to be high availability.
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#3496
  1. Why is it important for blockchain networks to be high availability networks?
    The blockchain network is the most available network ever existed. It is available 24/7 365 days a year with no breaks. It has to be that way to be globally available.
  2. What is it that enables blockchain networks to have such high availability?
    Miners and the incentives they get for mining. There are always new miners available to start mining.
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