1.People around the world are using blockchain, therefore it is important to have access to it 24/7
2. Mining is what gives blockchain it’s high availability, mining protects the network
Hello All
How are you all doing ?
Are you using your time wisely ?
Hope you are all well …breaking the ice , haha
Lets go for the answers:
1-available 2/7 all year nonstop, very safe as network is decentralized, if the difficulty to join the network increases by incentives to miners, easy to enter more miners, more security safer it will be
I2-f you are familiar with Mining with blockchain there’s a direct relationship between miners vs blockchain/crypto as less miners more incentive payout, but loads of miners less pay outs…therefore increasing security and HIgh availability
Byyyye see you all next homework.
- Why is it important for blockchain networks to be high availability networks?
- Because it needs to be able to be accessed at any time and any point. If the network is down for any reason then the whole concept falls apart or is tremendiously slowed down.
- What is it that enables blockchain networks to have such a high availability?
- Because nodes are incentivized to be constantly online to be making money. If people are not mining then they are not earning incentives.
- Why is it important for blockchain networks to be high availability networks?
It is important because it allows for everyone to be involved no matter their location and for everyone to make money no matter what time of day it is.
- What is it that enables blockchain networks to have such high availability?
Blockchain is a world wide network which never turns off, so anyone can interact with it at any given time.
Why is it important for blockchain networks to be high availability networks?
It is important for blockchain networks to be high availability networks so they maintain security and accessibilty for miners and users.
What is it that enables blockchain networks to have such high availability?
It is incentives that enables blockchain networks to have such a high availability.
1.) It’s important for blockchain networks to be high availability networks for global access and use.
2.) The fact that blockchain is available 24/7/365 gives it high availability.
You picked a bad timing, there are a lot of new students because of the webinar and your post will be buried among all the new posts that are arriving its more calm usually
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One of the purposes of blockchain is uniting people from all around the world. To provide this, the high availability is essential, otherwise people would not adapt easily and it would not be accepted by the people.
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The incentives make people protect the network and keep the availability as high as possible.
- its important to run btc and blockchain all the time to be able to do the transactions
2 mining, working 24/7/365
Hello @Alko89 sorry if I am being a complete noob here… I did not understand what does that mean that I picked a bad time ?
Sorry I did not get that.
Thanks
- So it is a viable use case. The more people use it, the more valuable it is. Like money, if I give you $5 and we both trust that the $5 is worth something than I can use it to trade you for a good. If it is not available to use, than it becomes less valuable and people will not trust in that network.
- Blockchain networks have high availability by incentivizing miners. If people stop mining, difficulty decreases and money is more easily made. If more people continue to mine, it becomes more stable.
- Why is it important for blockchain networks to be high availability networks?
- to have non-stopping operations 24/7, through the whole tear, each day
- What is it that enables blockchain networks to have such high availability?
- decentralized “endless” network of computers and mining operations
- Many people involved, all around the world it must be available 24/7.
2.People make money by mining, protects the blockchain network.
I just meant that its hard to start a conversation at the time since the forum is flooded with new students
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- To always be accessible
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- It is a network, and the miners are incentivized to keep protecting the network
- Why is it important for blockchain networks to be high availability networks?
To provide service, reliability, security, etc at a global scale.
- What is it that enables blockchain networks to have such high availability?
The incentive of mining, the rewards.
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It is important for blockchain networks to be high availability networks because it enables the users trust in the system.
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The ability to be copied onto many different systems enables blockchain networks to have such high availability.
1.- It works 24 7, and for it to workthere needs to be incentives. The main incentive is making money. Miners do their job of providing security to the protocol and they get rewarded
2.- Everyone whats to make money, everyone can participate and because is decentralized. So, if theres a problem in a country, theres a lot of other places running the protocol
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Why is it important for a blockchain to be high availability network?
Whatever reason you are using for the blockchain you want to be able to use it whenever you want to. -
What is it that enables blockchain networks to have such high availability?
You get paid for keeping the blockchain available 24/7. And the network is around the globe so there is always multiple nodes keeping it available.
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Why is it important for blockchain networks to be high availability networks?
○ They are global systems enabling access to value - different types of “mission critical” applications! -
What is it that enables blockchain networks to have such high availability?
○ No single point of failure
○ Distributed architecture
○Incentivization to keep the network alive (Mining)