Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3697
  1. So that transactions can be done whenever needed.
  2. The network itself. Having multiple nodes ensures that the network stays available despite single nodes being offline.
1 Like
#3698

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

High availability networks will be running 24 hours a day, 7 days a week, and 365 days a year. Basically, the network never has any down time, which makes it available at any point, anytime.

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

Blockchain networks have such high availability because they incentivize mining/staking through financial rewards. Those rewards are a guarantee of highly populated networks because everyone is interested in making financial gains.

1 Like
#3699
  1. Why is it important for blockchain networks to be high availability networks?

It’s important because the need for money and exchange of goods doesn’t stop. 24/7/365 transactions can be made and verified.

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

Profit incentives for users and miners to jump in, secure the network and keep mining and supporting when there is a decrease in nodes.

1 Like
#3700

It’s important for blockchain networks to be high availability, because blockchain depends on multple nodes to always be available to confirm / accept valid transactions onto the blockchain (and not accept invalid ones)
Blockchain networks have high availability due to the huge number of nodes on the blockchain network and the common protocols being used, with incentives used to ensure there is always a large number of nodes available

1 Like
#3701
  1. Why is it important for blockchain networks to be high availability networks?
  • It is important for blockchain networks to be on high availability networks because money needs to be readily available at any given time and since we want to build this global infrastructure it is important that access to this technology be available around the clock. High availability also equates to high security which is a very important key feature of blockchain in cryptocurrencies.
  1. What is it that enables blockchain networks to have such high availability?
    -Financial Incentives keep mining going, the more nodes performing on the network the less rewarding it becomes to miners since this is a costly process, but as soon as some miners stop mining others will fill up the demand creating a stable amount of availability.
2 Likes
#3702
  1. Why is it important for blockchain networks to be high availability networks?

It makes it highly reliable to people interested in being involved on the blockchain.

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

The global network of miners who are incentivised to keep the blockchain up and available

1 Like
#3703

  1. Why is it important for blockchain networks to be high availability networks?
    Doesn’t the importance of a certain feature depend on the user’s needs and wants rather than on the features themselves? I would want high availability for financial transactions, but I probably would not use a blockchain as a calculator. Arithmetic does not require a ledger and it usually isn’t necessary to have 24/7 access to a calculator to do arithmetic for you.

  2. What is it that enables blockchain networks to have such high availability?
    There are many nodes, and people are incentivized to run nodes by financial rewards.

1 Like
#3704

  1. Why is it important for blockchain networks to be high availability networks?
    Because it is a global network and must be available at all times for everyone using it around the world.

  2. What is it that enables blockchain networks to have such high availability?
    Having so many nodes connected to the network so even if one goes down there are several waiting in line to pick up the slack. Incentivized through mining in PoW.

1 Like
#3705

Because blockchain networks are global they need to be highly available to accommodate dynamic time zones and circumstances.

Blockchains ARE highly available because of the decentralized computing network that maintains them.

1 Like
#3706
  • Because a secure global infrastructure is needed.
  • Because if one goes down there is a copy of the ledger on all of the other computer.
1 Like
#3707

  1. Blockchain networks must be high availability networks because for a user to trust and utilize the network, they must know that the network will be running and available at all times for them to use.

  2. Mining and incentives enables blockchain networks to have such high availability.

1 Like
#3708
  1. Why is it important for blockchain networks to be high availability networks?

Blockchain networks need to be high availability networks to accommodate all of its use cases. Such a disruptive technology needs to be high availability as it will have applications in every aspect of society,

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

Blockchain networks have high availability because of mining. The mining incentives that are part of the network always allows for there to be some miner available to provide this availability.

1 Like
#3709

  1. because blockchain networks are intended for international global financial transactions

  2. the distribution of nodes geographically into different timezones helps

1 Like
#3710

  1. Why is it important for blockchain networks to be high availability networks?
    Because we now live in a global society where everyone wants to make money. Having a network/application that is open 24/7-365 gives everyone the opportunity to do that at any time.

  2. What is it that enables blockchain networks to have such high availability?
    Mining. It protects the network and keeps it up and running 24/7-365.

1 Like
#3711
  1. Cause of the global need of availability 24/7 365d.It makes it efficient and trustworthy.
  2. By incentivizing Miners through rewards.
1 Like
#3712

1 - If blockchain networks are to be used in the global infrastructure, it has to be accessible 24/7/365.
2 - Blockchain networks are incentivized. Everyone wants to make money, therefore, it is highly important in a global financial system to keep it alive.

1 Like
#3713
  1. It is important because high availability makes the system reliable and it can work 24/7. For example if bitcoin didn’t work all the time it’s usefulness would be much lower.
  2. Because the miners are incentivised to join the network if the hashrate drops. So if a major portion of the miners pool stops working, immediately there will be more miners joining to participate because in this way they earn money.
1 Like
#3714

1.So that regulation can continue and remain in constant use, in order continue to generate wealth.

  1. Incentives financial
1 Like
#3715
  1. So that it can be easily accessible at anytime and anywhere with any form of disruption.
  2. Miners are always available to provide blocks and keep the blockchain alive.
1 Like
#3716
  1. It is important as it is in the very nature of this ecosystem to be available for constant validation whilst transactions around the globe are completed in different time zones.
  2. the incentives provided for the truthfulness of transactions from around the globe. There are participants at any time 25/7/365 and that in turn creates high availability. Inactive participants are constantly replaced by active ones from different parts of the world
1 Like