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It is needed because it has to be accessible on a global scale.
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The miners are incentivized, if a network falls due to some reason more people start mining which makes it stable again and gives them profit.
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1.Why is it important for blockchain networks to be high availability networks?
They are global and people need to use it all the time.
2.What is it that enables blockchain networks to have such high availability?
Incentives or mining on global scale 24/7/365.
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It is important because people from all over the world want to have the possibility to make money whenever the want and they dont want to wait for opening hours of the bank.
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The market and the miners make that possible.
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- High availability of blockchain network is importance because that is the only way to ensure optimum functionality of the entire system.
- General or global Participation ensures blockchain availability, which is achieved by incentives/value-added via Nodal participants.
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It is important for blockchain networks to have high availability so that any volume of transactiosn can be handled efficiently
blockchains availability is high because there are incentives to process transactions
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Blockchain is used all over the world and needs to be available at all times, for example used in the financial world.
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Incentives enables blockchain networks to have such high availability - Mining.
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- Why is it important for blockchain networks to be high availability networks?
- to be able to make it available for the users all the time and to provide the services and information in real time.
- What is it that enables blockchain networks to have such high availability?
- Incentives through mining.
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Why is it important for blockchain networks to be high availability networks?
In order to be highly available, it is important that the blockchain networks performing their applications 24/7/365 to meet its global high demand.
What is it that enables blockchain networks to have such high availability?
Blockchain Technology and Bitcoin unified everyone in the world because everyone wants to make money. Everyone is incentivized to keep the blockchain networks alive. Mining is also help people make money perfecting the network
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One very strong incentive for anyone to use a blochain network is the availability. Services that goes down usually means problems on many levels, it may stop production in a factory, stop sales on av site, stop time sensitive data to be exchange between different parties or stop communication betwenn people. Each of these situation will hurt the involved parties, and give a ripple effect to other parties involved in and dependant on the transactions.
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The availability is upheld by the large network of independant servers/computors on the technical level. that is a security for the network going down. If a part of the network would go down, the algorithms you calculate when you mine will be easier and thus the cost for mining will go down attracting new miners. The resaon to mine is driven by the incentive to make money. (And I wonder what will happen when all coins are mined, but I suppose that is another course).
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A network that is available 24/7/365 will optimize productivity no matter who or what industry is using.
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decentralized nodes
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As a global network it needs to be accessible anywhere and at any time. By providing financial incentives to miners the network constantly adapts to changing demands. As the blockchain ledger is truly decentralised it cannot be shut down and can always be accessed from copies held on local nodes all over the world … genius.
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- It is a global network, and all the participants are incentivized to keep it alive 24/7/365 to use it effectively
- Incentives to mine and process all the transactions
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Blockchain networks need to be high availability networks so that high security can always be maintained for the entire network.
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Incentives encourage miners to keep the blockchain network secure. This means that if the network gets smaller for some reason, new miners will quickly start mining to receive incentives.
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- Why is it important for blockchain networks to be high availability networks?
High availability is crucial for the network to allow global 24/7 transaction process.
- What is it that enables blockchain networks to have such high availability?
Decentralisation itself.
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Why is it important for blockchain networks to be high availability networks?
To maintained security, scalability and reliability. Eliminate potential point of failure. -
What is it that enables blockchain networks to have such high availability?
Factors influencing such high availability of blockchain network is because of incentivized.
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To keep the infrastructure alive.
They are always incentivized to keep mining and building security - whenever people stop mining, others will continue to mine
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It is important for blockchain networks to be high availability networks as to provide 24/7 365 coverage.
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Mining to protect the network while making money is what enables blockchain networks to have such high avalability.
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So the infrastructure works for all globally.
Blockchain networks are available 24/7/365 days per year.
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Benefits of Using Blockchain
Q1. Why is it important for blockchain networks to be high availability networks?
Answer1. Allow the market to stay open 24/7/365
Q2. What is it that enables blockchain networks to have such high availability?
Answer2. Incentives to miners
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Why is it important for blockchain networks to be high availability networks?
This is because it allows for global markets to utilize the network.
What is it that enables blockchain networks to have such high availability?
It’s 24/7 365 days a year. This is because it uses incentivized economics to provide miners with fees to keep the network up and operating, or in POS networks its people staking and the incentive is the staking reward.
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