Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3737
  1. Why is it important for blockchain networks to be high availability networks?

As blockchain is a global infrastructure - availability needs to remain high to enable constant business / industrial and social interaction.

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

Miners are incentivized to participate in the network, everyone want to make money.

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#3738
  1. When many people are in the network and mine then the network security is high.
  2. Because everyone is incentivised to keep it alive and make money from it.
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#3739

  1. It is important to be a high availability network for the security of the Blockchain and for the accessibility of it.

  2. Incentives keep the community involved, and passion for decentralisation.

1 Like
#3740

  1. Why is it important for blockchain networks to be high availability networks?
    It allows the network to be available 24/7/365 to provide its service. Additionally, the more the network is available, the more its users will trust in its service for their business.

  2. What is it that enables blockchain networks to have such high availability?
    Financial incentives to miners to maintain the network.

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#3741
  1. Blockchain networks require high availability in order to be truly global networks. Without 24/7/365 availability, a network cannot truly respond to the demands placed upon it.
  2. Blockchain networks achieve such high availability due to its decentralized nature as well as through incentives that encourage nodes/computers to stay on the network as long as possible.
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#3742
  1. Why is it important for blockchain networks to be high availability networks?

One of the best selling points. You are available to use blockchain 24/7/365.

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

Network are incentivised to keep the blockchain running at any time.

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#3743
  1. In order to remain secure and ensure that the ledger is kept up to date and available to transact
  2. the network of miners and the variable difficulty of the mining and rewards to incentivise miners to continue mining or replace miners that go offline.
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#3744

High Availability Homework

1- When the netowrks works well, all computers in it are working, mining, making it secure. Any transactions can be made at any time with the highest level of security.
2- Incentives for miners is what enabes high availability. Miners work solving complex math problems and vaslidating transactions, which provides high security in the network. The more they mine the morte they earn and the more secure the network is. That is why they mine 24/7/365.

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#3745
  1. Why is it important for blockchain networks to be high availability networks? - Everyone wants to make money no matter where they are trading.
  2. What is it that enables blockchain networks to have such high availability? - The system doesn’t sleep and proven to be long standing through test of time. Network nodes is widely distributed and individuals can trade as frequently. The miners are incentives to keep it running.
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#3746

  1. In order to be a global network it needs to be available 24/7. Information and valuables need to be accessable 24/7.

  2. Global participation through incentives.

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#3747
  1. Why is it important for blockchain networks to be high availability networks?

because the network needs to be running 24/7 due to the fact it’s a global network, thus must remain running always around the clock.

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

the miners, they are incentivized to constantly mine.

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#3748

  1. Why is it important for blockchain networks to be high availability networks?
    A global solution to a global problem cannot be down or go offline without excluding some part of the global market. High availability frameworks allow for global use no matter the earth’s position around the sun.

  2. What is it that enables blockchain networks to have such high availability?
    Incentivized mining creates a scenario where you can get paid to participate in and provide resources for the constant function of the network. Everyone wants money so many people participate and the network is kept on as a result.

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#3749

  1. The network needs to be available 24/7/365 precisely so that it can remain secure and immutable. Different nodes of the network need to be in constant comunication with one another to keep reaching consensus

  2. The network is always online and everyone is incentivised to participate. If one computer fails, another one will join immediately because of the incentives.

1 Like
#3750

Homework on High Availability - Questions

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

Because if the networks weren’t available all the time when people needed to use it no one would use the networks.

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

Mining or incentivizing people to verify transactions and keeping the network running 24/7/365

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#3751

  1. In order to keep the opportunity to Alwasy exchange value, no matter de day or hour, the network will always available to exchange value.

  2. That it relays in many computers, not just one centralized entity, company, server, etc-

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#3752
  1. high availability provides money for everyone
  2. mining and incentives for mining
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#3753

Homework on High Availability

  1. Why is it important for blockchain networks to be high availability networks?
    Because blockchain is a global infrastructure, its availability needs to remain high to ensure the network doesn’t collapse, is more secure as the more nodes present on the network the more secure it is, and it enables constant business / industrial and social interaction 24/7.

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain has such high availability due to the number of computers/ CPU power on the network, and the reason computers join the network is because they are incentivised through the process of Mining.

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#3754

Answers to “High Availablility” Questions:

  1. High availability is a must these in the current economy. Data needs to be available 24/7. It makes it more secure.

  2. Rewards for participants (miners) to earning money.

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#3755

We are living where minutes can make changes that last our lifetime, thus having fast high availability makes our systems as fast as we like them to be. For realtime information on an industrial project or to be able to move large sums of money from one wallet to another wallet effortless and time-efficient. The blockchain high availability can be a major mover in any part of our life, we can have a future where small-time farmers can get an edge in their own production by using it the blockchain to keep track of harvest (transaction&accounten) or the same technology could be used by the Spymaster to watch your moves. The High availability is enabled by the incentivizing so for example, mining operation for btc.

2 Likes
#3756

  1. Why is it important for blockchain networks to be high availability networks?
    Because high availability actually provides security to the data, another reason is that highly available blockchain has more advantages and use cases, people will rather use the service that is available

  2. What is it that enables blockchain networks to have such high availability?
    It is the incentives that requires the miners to operate by the rules, so that they could make noney. If the miners are trying to exploit the blockchain or operste against the rules they actually lose money. That provides high hashrate and availability of the network.

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