Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3717

1. Why is it important for blockchain networks to be high availability networks?
Availability isn’t only important for blockchains, it is a main charachteristic of them. It gives them a huge advantage over common networks. If you compare the availability of SWIFT or stock exchanges with blockchain technology, these networks seem to be antiquated.
2. What is it that enables blockchain networks to have such high availability?
The availability is guarenteed by incentivizing the miners with a block reward. So at least until all remaining blocks are mined, there is an opertunity to make money for the miners.

1 Like
#3718

  1. because it can be accessed 24/7/365

  2. incentivizes miners to participate securing the network

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#3719
  1. Why is it important for blockchain networks to be high availability networks?

Being able to guarantee performance is vital for business-critical systems and makes many of the core advantages of blockchain such as real time auditing possible. If a network isn’t up, you can’t audit it, nor can you rely on it to process multiple simultaneous financial transactions around the world.

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

Incentivised mining keeps the network operational by financially rewarding those that take part.

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#3720
  1. Why is it important for blockchain networks to be high availability networks?
    It is important for blockchain networks to be high availability networks for various reasons. It runs 24/7/365, so anyone can access it at anytime. on a global scale, this is very important because if one portion of the mining computers go down for whatever reason, another portion of computers can pick up the slack and start mining, themselves. When many computers are mining, this increases the difficulty to mine and the security as well. When a portion of miners are down, this decreases the mining difficulty and security, but this mechanism allows for the other computers to jump in and mine and restore security and difficulty again to a balanced level. Without high availability, this would not be possible.
  2. What is it that enables blockchain networks to have such high availability?
    Having one uniform global mining infrastructure that runs 24/7/365 days a year enables this system to be of high availability.
1 Like
#3721

1.It is important for blockchain networks to be high availability networks because they are operating on a global scale 24/7 365.

  1. Mining and the fact that there are so many networks connected… so if some go offline others come on line.
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#3722

  1. It’s important for blockchain networks to be high availability, because a global network requires 24/7 365 days a year infrastructure.

  2. Blockchain networks are enabled to have high availability by giving incentive to people to make money and keep the database going with verifying transactions and mining.

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#3723
  1. Network availability and demand 24/7 due to global scale involvement
  2. Miners financial incentive
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#3724

1.) Blockchain availability is important for two reasons. First, network is open 24/7 and this give everyone accessibility to make money. Second, it creates incentives to participate and maintain functionality of network.
2.) High availability is obtained through a network that is global. If a miner/ nodes go down the network continues without pause.

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#3725

  1. Why is it important for blockchain networks to be high availability networks?
    Because it needs to be secure and used globally.

  2. What is it that enables blockchain networks to have such high availability?
    Through mining and the financial incentives one receives for mining and giving the network higher security.

1 Like
#3726

  1. Why is it important for blockchain networks to be high availability networks? So the network doesn’t go offline.

  2. What is it that enables blockchain networks to have such high availability? It incentivizes people to to keep the network alive.

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#3727

  • Why is it important for blockchain networks to be high availability networks?
    They run 24/7/365 because of mining

  • What is it that enables blockchain networks to have such high availability?
    Miners working all the time which increase security and functionality.

1 Like
#3728
  1. Why is it important for blockchain networks to be high availability networks?
  • To keep it running 24/7/365 to make it reliable and used globally.
  1. What is it that enables blockchain networks to have such high availability?
  • Miners are incentivized to keep the network running.
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#3729

  1. Because it means that the network is protected 24/7/365

  2. Incentives and mining are what able blockchain to have such high availability.

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#3730
  1. It needs to be available 24/7/365 to process transactions and verify transactions.
  2. The blockchain network is decentralized across many nodes. Nodes are incentivized to keep the network up through mining.
1 Like
#3731

1.Why is it important for blockchain networks to be high availability networks?
Because of global business

2.What is it that enables blockchain networks to have such high availability?
Mining and incentives. People want to earn money.

1 Like
#3732
  1. it is important because it enable acsess to the all data in the blockchain 24/7/365 and make actions (in this case send and receive transactions and make changes in personal account whenever you want and need it)
    2.every miner node incentives by making money in mining that helps the blockchain network continue to operate and exist 24/7/365 and of course to be a high availability

Wishing everyone a successful day!!! :man_student: :woman_student:

1 Like
#3733

  1. Why is it important for blockchain networks to be high availability networks?
    It is important for the network to be high availability so that the network doesn’t die and is more secure. The more nodes in the network, the more secure the network is.

  2. What is it that enables blockchain networks to have such high availability?
    The blockchain has such high availability due to the amount of computers that are on the network. The reason computers join the network is because they are given a financial incentive through mining.

2 Likes
#3734

  1. Because people want make money 24/7, also because the internet is online 24/7 so people are working different hours around the world. For example the banks have fixed open hours which seems arcaic, when the modern world is open 24/7.

  2. Blockchain is globally shared, so if a server in Copenhagen my hometown disconnects another in India makes sure that the Chain is still running.

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#3735

  1. It’s running 24/7/365. Blockchain networks never go offline. The more entities in the network, the more secure it gets. Because it’s one global blockchain, the different time zones also help us to achieve this.

  2. Everybody likes to make some extra money. The network size is huge. If, for any reason, a part of the network disappears, it immediately will be taken over by new users/miners. These miners ensure the high security of the network and of course also have financial incentives.

1 Like
#3736
  1. A secure global network infrastructure is needed to be operational 24/7/365.
  2. Should one node/ computer goes down, all the other nodes and computers will still have a copy of the ledger, thus securing the information on the ledger.
1 Like