Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3777
  1. Why is it important for blockchain networks to be high availability networks?
    Everyone is incentivized to keep it alive
    because everyone wants to make
    money.
  2. What is it that enables Blockchain networks to have such high availability?
    If a portion of the network should ‘die,’
    other computers would immediately
    join the network because of mining.
1 Like
#3778

Why is it important for blockchain networks to be high availability networks?
Access must be guaranteed worldwide and in any time zone …24/7/365.

What is it that enables blockchain networks to have such high availability?
Financial incentives for miners and multiple ledgers ensure high availability.

1 Like
#3779
  1. The network must have high availability in order to function seamlessly throughout the blockchain.
  2. Blockchain networks have high availability because all the nodes are financially incentivized via their mining activity.
1 Like
#3780
  1. Why is it important for blockchain networks to be high availability networks?
    The networks need timely and reliable access to and use of information.
  2. What is it that enables blockchain networks to have such high availability?
    Redundancy, peers and orderers across the network,
1 Like
#3781

  1. A global network needs to be open 24/7 365 days a year to enable anyone in the world to access it and Blockchain achieves this.

  2. The nodes enable blockchain networks have a high availability because if one goes down there is a copy of the ledger on all of the other computer. Blockchain is able to achieve high availability through incentives or block rewards given to miners. These rewards are automatically adjusted depending on the demand of the network

1 Like
#3782

1- it is accessible 24/7/365.
2- mining for incentives - a sustainable structure to keep the network running by earning block rewards.

1 Like
#3783

It is important for blockchain to have high availability because of it being a global network that is always on.

Blockchain network’s high availability occurs because of the millions of global computers keeping the network active and by the miners always working on it.

1 Like
#3784

  1. It is important for blockchain networks to have high availability so that if one miner, who drives and provides security to the network, goes down, another will pick up the load in order to keep the network working.

  2. The blockchain network runs in a completely decentralized way where many, many, many different computers (nodes) from around the globe under no specific region work together to maintain the network.

1 Like
#3785

  1. Since it is a global network it is important to have access at all times. It is also important to always be available for people to use and take action such as mining making it a more dependable system.

  2. It is able to have high availability due to the incentives of mining, due to these incentives there will be a lot of miners willing to jump in if anything were to go wrong.

1 Like
#3786

24/7 uptime is a must for a reliable network. It also adds security to the network
High availability in blockchain networks is enabled by incentives.

1 Like
#3787

  1. High availability allows for the network to be up the majority of the time, and if the technology can be used in cross disciplinary cases, the availability would increase the reliability of the system for users, and thus people will be incentivized to use it.

  2. Multiple set of incentives between making money from mining, with the difficulty being actively adjusted, as well as improving the security of the network.

1 Like
#3788
  1. Why is it important for blockchain networks to be high availability networks?

This would ensure the network could be use globally. This gives the network more dependable for transactions to occur.

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

The opportunity to make money that are in store for those that secure that network encourages them to be more involved with the network

1 Like
#3789
  1. So everyone will have access to the network at any time because it runs 24/7.No other network has this ability.
  2. Incentives .Everyone is incentivised to keep it alive
2 Likes
#3790

  1. To sustain security and profitability.

  2. The ability for anyone with the right specifications to earn money on mining.

1 Like
#3791
  1. Why is it important for blockchain networks to be high availability networks?

Because the higher the availability of the network, the higher the security level. The more nodes available on the network, the more the numbers of computers involved in the process of consensus which in turn boost the security level of the network.

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

The answer is Incentives. The core factor that guarantees the network high availability is the fact that everyone wants to make money and Nobody gets tired of making money. And, those who put in work in ensuring high availability of the network get to receive some incentives for doing so.

1 Like
#3792

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

Because blockchain is a global network. It needs to be available 24/7 in order to be secure.

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

Profitability.

1 Like
#3793
  1. Why is it important for blockchain networks to be high availability networks?
  • Global financial institutions need to be highly available or 24/7 because of the nature of being ‘Global’ with various time zones.
  • Also outside of financial applications, block chains that deal with data, governance, healthcare, etc… would cause massive issues if they were not available 24/7.
  • Being down and and unavailable would defeat the point of having a decentralized network that provided a trustless platform from which to build services on.
  1. What is it that enables blockchain networks to have such high availability?
  • The incentive to Mine the blockchain for rewards enables the networks to continue to move forward 24/7.
  • If part of the network were to collapse, than it would open opportunities for new minors to get rewards at a lower cost.
  • This incentive allows for change and adaption to how bitcoin is mined depending on how many minors are mining the network. Providing the incentive for the blockchain networks to run
1 Like
#3794

  1. due to its “value” propositon vs internet “information” therefore this value proposition needs to have a very high availability network.

  2. its incentives / mining are the ones to keep the blockchain infrastructure 24/7/365

1 Like
#3795

1 - Very credible. 24 / 7 / 365 days. Very secure. Global access. United.

2 - Mining. World Wide many computers running the blockchain.

1 Like
#3796
  1. High availability is important in the blockchain being constantly utilized.
  2. Mining gives incentives to miners for processing transactions. Those incentives will increase in value the less miners are on the network and decrease in value when more miners enter the network.
1 Like