Homework on High Availability - Questions

Blockchain and Bitcoin 101
#362

[quote=“ivan, post:1, topic:8426”]
Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    It is important for them to be accessible 24/7/365 because we all need reliability in our Business life and personal world! In todays business infrastructures and globalization it need to be on all the time!

  2. What is it that enables blockchain networks to have such high availability?
    Because the miners and nodes are global the network is very incentivized to stay up and running for all of us!

#363

Blockchain networks are global infrastructures so to keep the world/work turning, the networks must be up and running. The incentive to make money via mining enables 24/7 365 access.

#364
  1. Why is it important for blockchain networks to be high availability networks?
    Everyone want to make money 24/7/365
  2. What is it that enables blockchain networks to have such high availability?
    Everyone is incentivized to keep the network up and alive.
#365

  1. Because we are striving for a global 24/7/365 economy and blockchain delivers. It gives trust in the protocol of blockchain.

  2. Miners are incentivised, if the number of miners go down it becomes easier to mine, then more miners will come in. It is a self sustaining system.

#366

  1. It is important because the blockchain technology needs to be running 24/7/365 always

  2. Incentives in mining makes the blockchain network have such high availability.

#367

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    For it to remain usable and secure 24/7/365
  2. What is it that enables blockchain networks to have such high availability?
    The incentive for mining insures that they will always be interest in keeping the network secure and running.
#368

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Accessibility on 24/7 brings a high level of trust in blockchain network

  2. What is it that enables blockchain networks to have such high availability?
    It is the technology and incentivise method
    [/quote]

#369
  1. Why is it important for blockchain networks to be high availability networks?
    => to guarantee security
  2. What is it that enables blockchain networks to have such high availability?
    => miners are incentivized
#370
  1. Security of the network increases with high availability.
  2. Mining enables networks to have high availability.
#371

  • Why is it important for blockchain networks to be high availability networks?
    to improve network security so in the case some of the miners shut down there are going to be others computers joining the network and restoring network security

  • What is it that enables blockchain networks to have such high availability?
    incentives an the system trough-out the incentives are distributed(difficulty)

#372
  1. Blockchains needs to be high availability networks because they are global. Access is required 24-7 as people around the world are using the network at different times.
  2. Financial incentive through mining reward or transaction fees.
#373
  1. Because that is needed to be able to make transactions whenever we need across the globe. Also, the higher the availability of the network, the more participants there can be, the more decentralized the decision making can be, the more secure the network can become.
  2. The protocol that incentivizes mining. Because there is an incentive through the protocol that mining becomes more profitable when a part of the current mining power were to fall out.
#374

  1. High availability is crucial for any network that people are using 24 hours a day. It would not be advantageous in modern business have downtime on their network.

  2. Incentive through mining. When miners are always being rewarded for contributing to the network, someone will always have a mining rig running. The more miners, the higher the hashrate, and more redundant validations.

#375

  1. High availability networks are important for bitcoin as it enables 24/7/365 usability. This provides value to the network and in turn makes it more secure.

  2. The network provides incentives for keeping it ‘alive.’ If mining drops, then mining becomes easier. This then encourages more miners which boosts the activity again. .

#376
  1. More miners better security
  2. Security
#377

  1. The value in the network derives from its properties of which two are being available and accessible.

  2. The incentive structure that is inherent in the blockchain architecture fosters the outcome of high availability.

#378

1- Why is it important for blockchain networks to be high availability networks?
It is important because of trustability which is based on math and global decentralisation of blockcain database,

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

It is 21/7/365 incentivized; never has been offline. if a portion of network becomes unavailable other networks will take place to realize the continuation of the network.

#379

  1. Because the user require an interactive network at any time

  2. Incentives through mining, when some nodes leave the network other’s see an opportunity in the difficulty adjustment

#380

[@ivan “ivan, post:1, topic:8426”]
Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Globally, we are living in different time zones so it’s better to have a system that runs 24/7, 365 days of the year which is more efficient for doing business and user friendly.
  2. What is it that enables blockchain networks to have such high availability?
    The main thing that enables blockchain to have such high availability is built in incentives model through mining which align with all people intentions to make money.
#381

Homework on High Availability - Questions

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

It is important for blockchain networks to be high availability networks because it enables them to offer the unique trait of continuous infrastructure (24 hours per day, 7 days per week, 365 days per year.) This unique attribute is especially important to the global financial system, as well as any other future networked applications of critical global significance.

Bitcoin is the longest living network and longest continuously running application of all time.

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

The characteristics that enable blockchain networks to have high availability are: network decentralization, monetary incentives to self-interested network participants to secure the network, and the vested interest of all participants to keep the network continuously functioning.

The main monetary incentives on the Bitcoin blockchain that enable it to have high availability are: block rewards via mining, and the continuous adjustment of the mining difficulty setting relative to the number of active participants working to secure the network. Mining difficulty increases when a significant threshold of miners are achieved to secure the network. Mining difficulty deceases to incentivize more miners to join and secure the network if the number of active miners decreases.