- Because it needs to be accessible 24/7/365. That’s how it gains its reliability.
- Everyone is incentivized to keep it alive mainly through mining, plus decentralization keeps the network running even if somewhere in the world the network becomes unavailable.
1 Like
- It is always making money, can’t ‘go down’.
- Mining incentives
1 Like
-
Why is it important for blockchain networks to be high availability networks?
If you are reliant on your node and successful mining as the means to ‘get money’, node failure is not good for business. Also, if nodes or entire segments of the blockchain network were to fail, it may introduce data integrity issues (what if the node that verified the transaction were not able to commmit? No incentive realized) which may lead to confidence in the network overall. -
What is it that enables blockchain networks to have such high availability?
Decentralization of the network and mirroring of the blockchain DB across many geographies (global) and infrasturctures (e.g. electrical grids, etc.)
1 Like
- Why is it important for blockchain networks to be high availability networks?
It is important for the network to remain running 24 hours a day 7 days a week 365 days a year because it is a global financial system. It needs to be running constantly and have high availability so anyone can access it regardless of their location or time zone. If it were to go offline for the US in the middle of the night, then those in Asia wouldn’t have access during their day time hours and vice versa.
- What is it that enables blockchain networks to have such high availability?
If a portion of the network goes down, there are other computers that will immediately join the network because of mining incentives. Mining protects the network. If many people stop mining and a portion of the network goes down, new miners will step in because mining difficulty goes down.
1 Like
- Why is it important for blockchain networks to be high availability networks?
Blockchain cannot exist without continuous reverification. If it were ever to go offline, the consensus process would be disrupted, and the network would lose transactions for the time it was offline and might be suspected of being corrupted during the down time.
- What is it that enables blockchain networks to have such high availability?
The mining incentives that provide earnings for individuals and small companies that run nodes, which has a continuous feedback loop of providing more incentive the smaller the number of miners, increasing the likelihood that miners will join the network if the numbers dip.
1 Like
- A high availability lead to high participation, which increases security of the network.
- Financial incentives motivate individuals to participate in blockchain.
1 Like
- Its important to have high availability so that many computers around the world can access the information and verify the blocks using consensus. It also provides redundancy so that if computers were to go down there are plenty of computers left to keep the transactions going.
- The issuing of rewards for providing the computing power for the transactions.
1 Like
-
Why is it important for blockchain networks to be high availability networks?
It is important for blockchain networks to be high availability networks as it’s a global network. But more importantly, the high availability network is what makes blockchain the most secure network in the world. -
What is it that enables blockchain networks to have such high availability?
By providing incentives such as rewards to miners.
1 Like
-
Why is it important for blockchain networks to be high availability networks?
Due to the decentralized nature of the blockchain it is necessary to have high availability in order to ensure reliability and security across the network. -
What is it that enables blockchain networks to have such high availability?
Financial incentives enable blockchain networks to have such high availability.
1 Like
Today’s world runs 24/365 and we need infrastructure that can enable this and keep up with demand.
It’s global, anyone can participate at anytime and there is no single point of failure.
1 Like
1: All of the attributes of a blockchain network that are appealing are only capable as long as there are a multitude of systems keeping the blockchain active.
2: Mining
1 Like
1. Why is it important for blockchain networks to be high availability networks?
Because then the data cannot be lost. And to make sure that all the data is actually published in the network. The blockchain is a 365 day available network.
2. What is it that enables blockchain networks to have such high availability?
Because there is incentive. This incentive is called mining and it is what allows the blockchain to remain safe, it is also how many people make money. Even if there’s a disaster and a power outage, other computers will join the network due to the mining. So the data is always there, always safe.
1 Like
- It is important for blockchain networks to be high availability networks because in order to achieve common incentives such as making money for example, the network needs to be available across the globe to account for time zones if everyone in the world is supposed to use the same standard. In addition, 24/7/365 makes it more difficult for entities to stop the network when it doesn’t suit them like when stocks are at a free fall and exchanges stop trading for a determined amount of time in order to manipulate the price in what is supposed to be a free market.
- High availability is enabled through mining and adjustment of the difficulty level to keep the network secure all the time.
1 Like
Why: is it important for blockchain networks , to be high availability networks?
*Because it involves finances and people need access at all times, as everyone has different availability and they always at certain times need access to funds. It needs to be available different parts of the world at different times as well, due to different time zones.
Needs to be high availability to show the public and authorities that it is the best system available for the future, to supplant other systems.
What is it that enables blockchain networks to have such high availability?
Miners being incentivised by rewards and so many different computers keeping it running, if one goes down, the others will keep it operating
1 Like
-
Why is it important for blockchain networks to be high availability networks?
So it is active all the time, it can not be shutdown. -
What is it that enables blockchain networks to have such high availability?
People are incentivized to join the network through money.
1 Like
-
Information is available 24/7/365 which sets it apart from existing networks
-
Everyone is incentivized to keep the network running through mining
1 Like
-
Running a 24/7/365 infrastructure is important because it ensures the security and reliability of the network. Global financial systems among others are dependent on high availability.
-
Mining enables blockchain networks to have high availability. Everyone is incentivized because they want to make money. People make money by mining and the network is stable when a lot of people are mining. If people stop mining then others will start. This is a continuous process and it is also how we protect the network.
1 Like
Availability makes it universally reliable, trustworthy and available to all. Available because it is a global network of computers that are not controlled by one entity or reliant on one computer. It is trustless permission-less infrastructure and censorship resistant.
1 Like
-
Why is it important for blockchain networks to be high availability network?
It is important because blockchain is part of a global financial network that needs to be running all the time. -
What is it that enables blockchain networks to have such high availability?
Incentives through mining to protect and keep running.
1 Like
-
Why is it important for blockchain networks to be high availability networks?
It is now part of the global financial system and needs to be continuously available. -
What is it that enables blockchain networks to have such high availability?
First, it is distributed which makes it always on, and financial incentives through mining help to keep it alive.
1 Like