Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3597
  1. Why is it important for blockchain networks to be high availability networks?
    Highest availability to make money.
  2. What is it that enables blockchain networks to have such high availability?
    Available globally 27/2/365.
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#3598

  1. Why is it important for blockchain networks to be high availability networks?
    High availability means that the network is always running. It is available 24/7 365 days a year for the global population. All you need is an internet connection to be able to access the blockchain networks.

  2. What is it that enables blockchain networks to have such high availability?
    Incentives mean that the blockchain networks have high availability. People always want to get paid and as the network is global, it is always running and incentives are constantly being distributed.

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#3599

-Why is it important for blockchain networks to be high availability networks?
It’s important because all the people can have access to the blockchain services everytime they want it and need it
-What is it that enables blockchain networks to have such high availability?
Due to the multiple nodes/computers on the blockchain network, who are incentivized by rewards. If one or more of them would stop working, there is several more that will replace them.

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#3600
  1. We need transactions to be verifiable at all times of the day with little delay.
  2. The sheer number of miners who have an incentive to make money. If others stop mining, then more will come and take the value that is sitting there.
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#3601

  1. It is important because people need to have the sense of security that the network will not fail and they can access it whenever they need to.

  2. The network of computers operating globally enables blockchain networks to have a high availability.

1 Like
#3602

  1. Why is it important for blockchain networks to be high availability networks?
    Without High Availabillity, there’s no security.

  2. What is it that enables blockchain networks to have such high availability?
    Users are incentivized to mine blocks, because it rewards miners with Bitcoin. More users mining means more computers in the network. This not only increases the security and availability of the network, but also the mining difficulty. If the difficulty becomes too high, users will stop mining, causing the availability to become less. However, if miners stop, the difficulty becomes to lower, causing other people to start mining and increasing the availability again.

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#3603

  1. Because of the use cases, and people are making money from it.

  2. economic incentives, created by mining.

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#3604

  1. For ensuring security and building trust

  2. it’s decentralisation, combined with monetary incentives for miners

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#3605
  1. Network works 24/7/365, everyone can used it. This enables constant business. It`s important for security.
  2. Everyone wants to make money. Miners make profit from mining and they provide security and availability.
1 Like
#3606

  1. so people from all around the world can us it whenever they need to

  2. blockchain can be active all the time since copies of ledger are shared globaly among all of the users

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#3607
  1. Why is it important for blockchain networks to be high availability networks? High availability is thanks to miners being incentivised to be available. Low availability means less miners working which makes the network less secure.
  2. What is it that enables blockchain networks to have such high availability? Less miners means it’s easier to mine, so new miners show up. It’s a balanced ecosystem.
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#3608
  1. High avalability ensures security on the network.
  2. Financial incentives
1 Like
#3609
  1. For some people it is important to have available network at all times for making money
  2. Incentives given to people for keeping the network online
1 Like
#3610
  1. Why is it important for blockchain networks to be high availability networks?
    Because of all the applications running on blockchain and to prevent failures (loss of money and so on). High availability also means high security. in blockchain everyone is incentivized to keep it running (everyone wants to earn money).
    If a portion of the network dies (whatever reason) – other computers will join the network, because of mining.
  2. What is it that enables blockchain networks to have such high availability?
    Mining (+decentralization). Many computers in the network, which want to mine/earn money.
1 Like
#3611
  1. it run all the time 24/7 365days,
  2. incentive, motivation of the miners to get some type of rewards.
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#3612

  1. It is important because it needs to be available 24/7 365 days a year.

  2. Critical to blockchain development is incentives and the main incentive for us all is money. High network participation through the process of earning money which we call mining, allows for high availability and security.

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#3613

1 because its 24/7/365 and making money is the main goal
2 the fact they are accessible 24 hours 7 days 365 a year on any internet connection

1 Like
#3614

1- For being available to do transactions at any time, when needed

2- A network of computers spreed around the world, incentivised to always keep working

2 Likes
#3615

  1. Blockchain needs to have high availability as it is used globally 24/7.

  2. Blockchain networks have such high availability due to the incentive for people to keep it alive via mining and keep the Blockchain secure.

1 Like
#3616

  1. Why is it important for blockchain networks to be high availability networks?
    The blockchain is a global system so it needs to be available at all times like the internet.

  2. What is it that enables blockchain networks to have such high availability?
    The blockchain is constantly available due to the number of computers on the network and the incentives to keep it running.

1 Like