Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3497
  1. Living in a global world it is important that blockchain to have a good availability.
  2. Miners and computer network.
1 Like
#3498

Homework on High Availability

  1. Why is it important for blockchain networks to be high availability networks?
    Because it allows the use of blockchain whenever you need to do, no matter witch day or hour.

  2. What is it that enables blockchain networks to have such high availability?
    It is desire to make money that enables blockchain networks to have high availability, indeed, miners are incentivate to keep the network secure and so maintain high availability.

1 Like
#3499

1.- Because it is how the system verifies the ledges, it needs high availability to make sure is not cheated.
2.- mining

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#3500

  1. To be build a new Financial System, to be useful and highly efficient or just because everybody wants to make money for the blockchain networks is very important to be high availability networks.

  2. It’s global and 24/7/365 live, it’s secured thru mining.

1 Like
#3501
  1. Because it is global and all time access is needed.
  2. Incentive.
1 Like
#3502

It is crucial for blockchain networks to have high availability because it makes them trully global, and more appealing. They reach such levels of availability through incentives for the miners.

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#3503
  1. To achieve 24/7/365 availability
  2. Computers are incentivized to be on the network.
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#3504
  1. it keeps the security and verification process up an running .
  2. MONEY ! Money! MONEY! block chain networks are incentivized.
1 Like
#3505

  1. Why is it important for blockchain networks to be high availability networks?
    It provides global access for everybody on the planet. Does not matter of time or where you are.

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain network is available and is secured by incentive miners that make it possible by taking a fee to keep it running.

1 Like
#3506

  1. For the benefits of blockchains to be apparent, with high levels of: accountability, transparency, and security, they need to be available all the time. If the networks are closed, the problematic effects of isolated infrastructures that blockchains are used to combat, such as information silos, will form. If they are closed off, it can also allow people with fraudulent intentions to manipulate the features supported by the blockchain (currency, apps, services etc.). The network needs to be available to everyone so that the correct consensus (and therefore provenance) can be maintained.

  2. Blockchain is attempting to create a global, rather than fragmented, infrastructure. The incentive of making money allows mining to ensure that the network stays alive. When there are few miners, and thus a lower level of security, mining becomes easier. Therefore, additional nodes can contribute and make money from it, whilst simultaneously protecting the network and thus maintaining the high availability of the blockchain. The global nature of blockchains, which allows any user from any country to contribute, means that if one geographic location is experiencing a problem, there are hundreds of others to take its place and support the network.

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#3507
  1. Why is it important for blockchain networks to be high availability networks?

It is important for blockchain networks to be highly available to achieve a stable and secure global infrastructure that is functioning and available 24/7/365.

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

Incentive to keep the network highly available in the form of rewards and worldwide nodes/decentralisation working together to deliver access 24/7/365

2 Likes
#3508
  1. Why is it important for blockchain networks to be high availability networks?
    Being a global network it is highly important to be available 24/7/365 to be able to serve its users that are spread across different time zones, in different places. be it fo financial services or industiral or social or other services that are serviced by the network
  2. What is it that enables blockchain networks to have such high availability?
    The incentivized miners that make money out of keeping the network up and running and secure
1 Like
#3509
  1. To provide the redundancy required to operate constantly regardless of network disruptions.
  2. The participation of multiple agents in the mining proces
1 Like
#3510
  1. Why is it important for blockchain networks to be high availability networks?

So the copy of transactions is always available.

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

Financial incentives through mining.

1 Like
#3511

  1. It is a global financial system so it needs to provide access to funds and record transactions at all times.

  2. The more people mining the more secure the system and higher availability. People are incentivized to mine therefore incentivized to provide high availability.

1 Like
#3512
  1. Because it is important that people are able to get access to their accounts.
  2. The miners around the world. They get payed to provide the infrastructure.
2 Likes
#3513

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

Because blockchain is a decentralized global concept that has to be accessible all around the world at any time.

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

The decentralization of the network enables 24/7 uptime in contrast to a single cetralized server .

2 Likes
#3514

Answers High Availability

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

It is an absolute USP of the blockchain technology. No centralised system can provide the same (100%) availability.

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

The nodes are monetarily incentivised to continue their work (mining) and in that way the availability is provided.

2 Likes
#3515
  1. Why is it important for blockchain networks to be high availability networks?
    It incentives the participants to maintain and keep it working.
  2. What is it that enables blockchain networks to have such high availability?
    The Network works 24/7/365. It is very accessible, and it works well.
    The system maintains an Average High level of security.
2 Likes
#3516

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

It is important for blockchain networks to be high available networks because a secure global infrastructure is needed.

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

Incentives for supporting the network and helping it to stay highly available.

2 Likes