- Why is it important for blockchain networks to be high availability networks?
It is important becasue it is a global network and it is available 24/7/365 so you have constant access - What is it that enables blockchain networks to have such high availability?
it provides incentives to miners to earn money
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Its important for blockchain networks to have high availability because that grants you access to the data base at any point in time. Which means It is readily available, for example bitcoin is running 24/7/365.
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Blockchain networks have such availability due to mining incentives, rewards for miners means they have financial incentives to keep the network running while also increasing security. When security is low, miners are able to collect more rewards therefore drawing more of an incentive to mine and bring more security to the network. When security is high mining becomes harder and less profitable. This creates a stable and secure network.
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1.Because it increases the security.
2. Miners.
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High availability contributes to trustlessness of people and centralized authorities and assures that a global access is continuously provided
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Availability is insured through incentivized activities of “mining” operations throughout the globe.
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High availability is important for blockchains as anyone on the planet can access the network at any time. Bitcoin/Ethererum as examples both run 24/7/365.
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Incentives allow blockchain networks to have high availability because almost everyone on the planet wants to make money and incentives help to ensure continual operation.
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Because it is the underlying protocol for real world use cases to sit on top of. These use cases need access 24/7 or they wouldn’t be able to function very well.
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The network incentives everyone to participate in keeping it running. The less nodes participating the more rewards to nodes still participating, which incentives more people to pick up the slack if there is a drop in participation.
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- It creates a wide band of functionality so that even if part of it goes down, the whole network can still function and when the part that goes down comes back online, it is immediately updated.
- Multiple nodes spread out all across the world. Each node that is mining is incentivized with mining rewards.
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- Why is it important for blockchain networks to be high availability networks? Today, commerce is global 24/7/365. Whether blockchain is used for currency transactions or for recording supply chain movements, it must be available and operational at all times.
- What is it that enables blockchain networks to have such high availability? Decentralized computing, decentralized nodes that are geographically and in other aspects fully diverse. Thus a failure of the network in one node or many nodes does not take down the network as a whole.
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Being online 24/7/365 allows the users to use the network at any time, thus increasing efficiency. Moreover, high availability provides security.
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Mining & the incentives that come with it for miners.
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Financial systems should be available at all times. Blockchain, a global system, should be available all the time.
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Incentives to miners to earn money and at the same time drive the network.
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Why is it important for blockchain networks to be high availability networks?
to build a global network -
What is it that enables blockchain networks to have such high availability?
incentivises, financial
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It is important to stop any downtime or failure.
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Its copies everything on multiple nodes therefore adding redundancy and setting up failover mechanisms.
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1.Why is it important for blockchain networks to be high availability networks?
global 24 / 7 / 365.
2.What is it that enables blockchain networks to be high availability? incentives mining rewards
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It is important because it is a huge selling point of blockchain and it also helps to eliminate points of failure in an infrastructure.
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Blockchain networks have such high availability due to incentives. People are incentivized to contribute to the network so whenever a portion of the network dies, a bunch of computers join the network because of mining. This further increases the security of the network and rewards the miners through incentives.
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- It is important for blockchain to be high availibility networks because high availibility because it ensures constant stream of transactions 24/7/365, which is one of the many highlights of the blockchain technology.
- Miners(blockchain auditors) are incentivised through rewards to participate in securing the network and thus providing high availibility…
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Why is it important for blockchain networks to be high availability networks?
Because they need to be accessible globally, and at all times
What is it that enables blockchain networks to have such high availability?
Blockchain network relies on nodes that hold copies of the ledger. So, if some are down, others are still working. Also, blockchain has an inherent incentive structure that promote nodes to “work” for the network
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1 It is important because the people make the network keep alive and secured. If someone is out, will be replaced fast.
2 The incentive on the people: everyone wants to earn money.
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It is operating 24/7 which allows people from all over the world to access it from anywhere anytime.
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Incentivizing miners to keep the system running.
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- Why is it important for blockchain networks to be high availability networks?
High availability makes the network more secure. It needs to be available 24/7 365 days a year because of the global market.
- What is it that enables blockchain networks to have such high availability?
Blockchain is incentivized and everyone wants to make money 365 days a year all over the world in different time zones. Mining is how you protect the network and how people make money protecting the network.
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so it can run all day.
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mineing
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