Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3677
  1. because people need to use them from anywhere in the world at any time.
  2. because miners are incentivized to always keep the network up and running and protected.
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#3678

  1. It is important for the blockchain network to be high availability because it is a global network and need to be open everyday for it to accessible around the world and blockchain really does serve globally.

  2. Mainly miners are the one that enables the blockchain networks as high availability because the rewards are adjusted on the demand of the network. Basically the fewer the miners the easier to mine it and higher the rewards.

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#3679

  1. High availability is a big advantage that blockchain has over other systems. Because the blockchain is run through a global decentralized network, it is ‘open for business’ 24/7/365. Even in the case of Force Majeure–if a giant EMP paralyzed an entire continent’s power systems–the blockchain network would still be running on Earth’s other continents and remain functioning.

  2. As referenced above, blockchain networks maintain high availability through the decentralized network that is global. The only way the network could be shut down is if all computers everywhere were shutdown.

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#3680

  1. Why is it important for blockchain networks to be high availability networks?
    Access any time from anywhere by anybody.

  2. What is it that enables blockchain networks to have such high availability?
    The network is highly available because people are incentivized to keep it that way.

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#3681
    1. Why is it important for blockchain networks to be high availability networks?
    • For the increase of security, stability and the availability of the network.
    1. What is it that enables blockchain networks to have such high availability?
    • The amount of miners that joined the network in the sole purpose of keeping the network alive in exchange for a small compensation rewarded to those miners in tokens.
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#3682
  1. Why is it important for blockchain networks to be high availability networks?
    Because its a global 24/7/365 network .
  2. What is it that enables blockchain networks to have such high availability?
    The main reason is because people wants to make money !
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#3683
  1. To be accessible 24/7/365 providing services
  2. The willingness of millions of people worldwide to earn money in the decentralized network through mining and creating blocks. This keeps the network up and running.
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#3684
  1. In order to be more secure
  2. Mining- Because through thta miners get money and also protect the network
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#3685
  1. It is important for blockchain networks to be high availability networks because in this way they can give users the trust they need to use the network and to make use of its goods at any moment.
  2. The high availability is generated by the incentives – the participants are financially rewarded.
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#3686

Blockchain high availability is very important. It runs 24/7 365 days a year. The world doesn’t stop at any time and therefore neither should accessibility. The UKs night time is Australia’s day time. There may be a public holiday in one country/ state but not in another causing frustrations because time = money. Accessibility equals efficiency and getting the job done

A blockchains high availability is enabled due to the the sheer size of the network. The more mining occurs the more stabilised the network is. However the lessor mining that occurs the easier and more incentivised the mining becomes which inturn creates an equilibrium.

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#3687

Homework on High Availability - Questions

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

The network needs to be available 24/7 365 for people to use it.

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

Incentives, for example if part of the network dies immediately other computers will join the network because of mining.

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#3688

1 The high availability and 24,7,365 accessibility of the network is what makes it secure and reliable, many are the blocks of the chain and more the chain is big and strong.

2 The high diffusion in the networks make the chain reliable, and stabile, blocks are available in many different device. The blocks are mined and the miners got a value back for it.

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#3689
  1. Why is it important for blockchain networks to be high availability networks?

To be a global network across all of the time zones, the network needs to be running 24/7 365 days a year.

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

This is due to the global network of miners that protect the network by being incentivised financially. If a number of miners stop mining then the security will drop but so will the difficulty of mining, so more people will start to mine bringing the security back up to high making it run 24/7

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#3690
  1. In order to perform the used cases earlier discussed in this lecture, you need to have the network up and running 24/7365 without any faults.
  2. The mining process which is incentivised and keeps the network up and running non-stop.
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#3691
  1. The blockchain network needs high availability to increase security of the network.
  2. What enables the blockchain network to have high availability is many nodes having monetary incentives.
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#3692

1. Why is it important for blockchain networks to be high availability networks?
Because they can be reached 7/24/365.
Anyone can be part of it whenever they want and need.

2. What is it that enables blockchain networks to have such high availability?
Incentives.
Without incentives the network won’t stay available 7/24/365.

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#3693

1 - for a value network to be standard of the word it is necessary to be 24/7 because when it is day in china it is midnight it U.S .
2 - incentive AKA. money.

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#3694
  1. Its important because if one part of the network goes down another one will take its place
  2. Financial Incentives
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#3695

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

As there are traders who want to make money on a large scale, it is important that blockchain networks are available 24/7/365 and always online. If the network went offline, trust in its security and protocol would diminish.

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

Mining helps to keep the incentivization of the security and maintenance of the blockchain network. This assists in keeping the network going offline.

1024×768

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#3696
  1. It is important for blockchain networks to be high availability networks because this will increase the uptime of the systems using it and it improves the security of the system.
  2. What is it that enables blockchain networks to have such high availability? It’s an incentivized system with multiple opportunities for people to make money to keep it highly available.
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