Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3877

Most of them need to stay alive all the time for it to work.

Incentivized people to use the network, namely the miners.

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#3878
  1. Because without high availability, people wouldn’t be able to make a lot of money off of the blockchain networks and the incentive to keep them alive would go down accordingly.
  2. Access to the blockchain networks on a global scale 24/7/365.
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#3879
  1. Why is it important for blockchain networks to be high availability networks?
    7/247/365, real-ability and usability.
  2. What is it that enables blockchain networks to have such high availability?
    Miners and incentives which means that everyone wants to make money.
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#3880
  1. It is important for blockchain networks to be high availability networks because it allows everyone access and protection within the networks 24 hours a day.
  2. Mining is what allows blockchain networks to have such high availability. When security is low, mining problems are easier to solve and thus people can mine to earn money to protect the network. If security is high, problems are more difficult and mining may drop due to the difficulty of earning money through the blockchain.
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#3881

  1. Why is it important for blockchain networks to be high availability networks?
    Because if the network doesn’t work it has an impact on many things, financial services etc.

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

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#3882
  1. Blockchain networks need to be of high availability because the community is trusting in the availability of the network to guaranty the trust reposed on it.
  2. The algorithm that incentivizes minning so when there’s low availability the network encourages offline miners to return to mining as it becomes profitable.
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#3883
  1. Because users are motivated and incentivized that the network is always online 24/7/365 by renumeration while they are supporting its work
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#3884

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

Want reasonably fast financial transactions.

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

Miners.

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#3885
  1. 24/7 availability ensures the network is always up.
  2. the decentralized nature of the blockchain and that if nodes are lost, they will be replaced as mining incentives will remain
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#3886
  1. Blockchain relies on a constant connection with other nodes. The higher the number of nodes the more secure it is. Is it easier to hack 10 or 10000 computers?
  2. Incentive. Mining, basically a paycheck for keeping the system running.
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#3887

  1. Why is it important for blockchain networks to be high availability networks?
    Easy and 24/7 access.

  2. What is it that enables blockchain networks to have such high availability?
    It can be access anytime 24/7

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#3888

  1. Why is it important for blockchain networks to be high availability networks? —- incentives people to join and increases security

  2. What is it that enables blockchain networks to have such high availability? —- incentives for security, incentives to join

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#3889

1)To establish a global network it is necessary to have high availability
2)Incentive is given to everyone who is mining

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#3890

That’s a rhetorical question right? :smile:

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#3891

  1. So that transactions can be done in real time. There is no down time.

  2. Because everyone who keep the network going is incentivized to do so.

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#3892
  1. So people from all around the globe can access it at any time they want.
  2. It’s an incentive for people to keep mining so the system can keep running.
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#3893
  1. Being a global network it needs to be available at all times (24/7/365) for everyone, and this ensures security.
  2. Incentives given for mining.
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#3894

  1. global economy and everything else.

  2. incentivised trough mining

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#3895

  1. Why is it important for blockchain networks to be high availability networks?
    As it pays off for all involved parties to be involved 24/7, there is no reason why it shouldn’t be highly available.

  2. What is it that enables blockchain networks to have such high availability?
    Stimulations, mainly trough mining, so put the helmet on and mine some value to increase availability and security.

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#3896
  1. Why is it important for blockchain networks to be high availability networks?

By it’s very concept the blockchain needs to be accessible 24/7/365. Also it is was makes it secure.

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

Mining and incentives.

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