Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3577

  1. The network has to be up 24/7 because potentially the whole world could be relying on it all at once. Transactions cannot stop.

  2. The availability is kept alive from the miners, people who connect to the blockchain and accept transactions on the network, preventing issues like a global crash and allowing the server to be up and running smoothly in a very balanced way.

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#3578
  1. Why is it important for blockchain networks to be high availability networks?

It is important because people around the world make transactions all the time and blockchain operates 24 hours, 7 days a week, 365 days of the year.

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

Incentives(mining) the security is high, is protecting the network and help people to make/increase their money.

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#3579
  • Why is it important for blockchain networks to be high availability networks?
    It can be accessed at any time any where with internet. It has no holidays it is always working allowing for global flexibility and universal participation.
  • What is it that enables blockchain networks to have such high availability?
    It is a decentralized network, so not one institution is responsible for running the network constantly.
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#3580

Why is it important for blockchain networks to be high availability networks?
High availability can be for several reason, ease of access to make a transaction or even as touched upon the security benefit of the blockchain. You can access it, transact, audit, etc. 99.99999% of the time, thank you Stakers, Miners, Nodes etc.

What is it that enables blockchain networks to have such high availability?
The network created by the incentivization of blockchain. Simply, security is enhanced via 24-7/365 operations; the nodes, stakers and miners receive a reward for verifying a particular transaction. Want more loot you greedy people, keep mining, keep staking, keep nodes running and enjoy the financial kickback for participating and ensuring the longevity of the blockchain!

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#3581
  1. So that it can be a Global 24/7 network for everyone
  2. Mining helps incentivize the network to run 24/7 so that everyone can access it.
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#3582

  1. Blockchain networks become more valuable and efficient when operating 24/7/365.

  2. Mining is incentivized through rewards which increases security and availability.

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#3583

  1. Why is it important for blockchain networks to be high availability networks?
    It enables any person in the world to access and participate in the network for incentives. As more people get engaged in the network, it becomes more secure.

  2. What is it that enables blockchain networks to have such high availability?
    The incentives given by the blockchain to its participants.

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#3584

1 - Because many use cases and business models require high availability in order to provide value to people.
2 - Blockchain networks have such a high availability due to mining which incentivizes users to keep the network going.

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#3585
  1. Why is it important for blockchain networks to be high availability networks?

It’s important because the network is always accessible for transacting on and the integrity/security of the network is always being upheld.

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

The incentive for the miners to make money enables the networks to have high availability, because it compels the miners to always be upholding the security of the network through their mining.

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#3586
  1. High availability is necessary when it comes to running a global economy. Transactions need to be quick, reliable, valid, and working around the clock.
  2. Incentives help enable networks to be high availability.
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#3587

its important for blockchain networks to be high availability networks because it incentivizes everyone to keep the network online and working,

Mining enables blockchain networks to have high availability

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#3588
  1. Why is it important for blockchain networks to be high availability networks?
  • It is decentralized, being used in whole world everyone must be able to use it at any time
  1. What is it that enables blockchain networks to have such high availability?
  • Miners keep the network running and have an incentive program, being compensated to support the networks as a reward.
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#3589
  1. network must be available 24/7 to be worthwhile and efficient
  2. people are incentivized to keep the network online by earning money
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#3590

  1. Why is it important for blockchain networks to be high availability networks? In order for the Blockchain to be the most secure, it needs a high number of nodes operating/mining. Because of easier mining when fewer nodes are operating, more computers will join the network for financial incentives, increasing the security and reliability and making it truly a 24/7/365 operation

  2. What is it that enables blockchain networks to have such high availability?
    Financial incentive of mining.

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#3591

  1. high availability is a necessity for an international protocol that needs to be ‘available 24/7/365.

  2. incentivized mining creates high availability and also increases security.

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#3592
  • Why is it important for blockchain networks to be high availability networks?
    its available 24.7.365 to have everyone
  • What is it that enables blockchain networks to have such high availability?
    highly incentive and block rewards given to miners
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#3593

It is important for blockchain networks to be high availability networks so that global networks can run 24 hours a day and 365 days a year. and so that everyone has access to the network.

Miners enable blockchain networks to have a high availability. Miners are rewarded for providing their computational resources to the network. When the there is a high number of miners, the difficulty increases and the reward decreases because the reward is distributed amongst more miners. This also, increases network security. When there are less miners, the network is less secure, however, with less miners to distribute the rewards, the profitability of mining increases. This usually causes new miners to join the network because they are incentivized by the higher reward.

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#3594

  1. Blockchain networks must be high availability to provide constant access worldwide.

  2. Miner incentive enables blockchain to have such high availability. The less miners, the higher the payout. Miners will always be looking to onboard if other leave.

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#3595

  1. Simply put, high availability is desirable because businesses can make more money if their money is working 24/7! For individuals, high availability is desirable because they can access their money 24/7.

  2. Blockchain networks have high availability because of the sheer number of computers on the network. It doesn’t matter if hundreds of computers go down because so many are in the network

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#3596

  1. Why is it important for blockchain networks to be high availability networks? - Security. Security increases with mining. Mining protects the network.

  2. What is it that enables blockchain networks to have such high availability? Incentives. Mining is incentivized thus ensuring security.

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