Homework on High Availability - Questions

Blockchain and Bitcoin 101
#3917

  1. High Availability provides a reliable 24/7/365 network that can be usable for critical applications

  2. Mining Incentives to provide hash power to the network, when less machines are mining, you further incentivize machines joining the network by providing higher incentives

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#3918

  1. Why is it important for blockchain networks to be high availability networks?
    Because high available is an essential component to the global market and ecosystem. Imagine if the internet was only available during the same hours of the New York Stock Exchange? It would be a major setback for economies and nations that operate during different time zones.

  2. What is it that enables blockchain networks to have such high availability?
    The network is decentralized and therefore cannot be shut down. Even if significant portions of the mining community were targeted by strategized power outages or compromised by natural disasters, new miners would immediately join the community to uphold the blockchain network. This is because there are incentives in place for miners.

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#3919

  1. It is important for blockchain networks to be highly available because they can be a global infrastructure that should not have a time boundary.

  2. Mining rewards incentivize the network to be highly available.

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#3920
  1. because if we would like to unite all people to a one single idea, we need to keep it as a friendly and availability.
  2. that no person, company or a body run’s it. it is the oldest applicatio that keep on running and no one can stop it.
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#3921
  1. Why is it important for blockchain networks to be high availability networks?

Because now on days people dont want to waste time by waiting for network that only works at certain time (Bank - Mo-Fri 9-5) If here is a better network with higher availability and security its no brainer to use any other network. Therefore people are insentivised to use blockchain and that way making it also more secure and all.

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

insentives - miners get paid for securing the network, if mining becomes easier by people stop mining other people will start mining because they are incentivised also they secure the network

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#3922

1, there is a whole infrastructure built on it as the network never stops, its a never stopping financial system that makes it very valuable. Having so many participants makes it very secure.

2,the many participants that are on the network globally, if some drops out, there will be plenty more to replace them

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#3923

The importance of high availability for blockchain is for the security and integrity of the networks. The more nodes the more verification and ability for networks to step up in case a network or group of networks go down.
The desire to make money and generate an income through mining enables high availability for networks.

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#3924

  1. Why is it important for blockchain networks to be high availability networks?
    It needs to be accessible for a global community every day.

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

Incentives through mining enable blockchain networks to have high availability.

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#3925
  1. because blockchain has to be used globally and everyone should be able to access it at anytime
  2. a decentralized network of miners, running nodes 24/7
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#3926
  1. Why is it important for blockchain networks to be high availability networks?

For adequate distribution to be maintained and for the value of the network to remain high to people around the world looking to transact, the network must always be on and have a reasonable response time.

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

The reward and the market in trading blockchain tokens such as Bitcoin incentivizes the miners/validators; if the supply drops, the reward increases and more nodes come online.

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#3927
  1. Why is it important for blockchain networks to be high availability networks?

A blockchain needs to be in an accurate state to reflect all transactions.

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

A blockchain is a network of public nodes/ledgers.

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#3928

  1. Why is it important for blockchain networks to be high availability networks?
    24/7/365 Is most secure, also because f.e. Bitcoin is global and used all the time for trading etc. the availability of the network must be high. high availability makes the network more valuable.

  2. What is it that enables blockchain networks to have such high availability
    Miners running the network all over the world are incentivized so it’s never down.

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#3929

  1. High availability means 24/7 access that results into more transaction that leads into more money being made.

  2. Nodes run the blockchain world wide through a decentralized network. If one part the world shuts down then the network will still be available. The network will not be at risk if that actually happens.

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#3930

  1. Because it is a 24/7/365 industry

  2. If any portion of the blockchain network goes down, other computers will quickly join the network to fill the gaps.

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#3931

Homework - High Availability

  1. To stay alive. Survive to maintain important networks throughout world.
  2. Mining and incentives to make money.
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#3932
  1. Users can access them anytime from anywhere giving total flexibility and freedom of use.
  2. The blockchains are run on a network of computers spread across the globe. The computers run constantly and so the blockchain is running 24/7/365.
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#3933
  1. Why is it important for blockchain networks to be high availability networks?
    Blockchain is used for global transactions. It’s money
  2. What is it that enables blockchain networks to have such high availability?
    lots of people are mining people do mining for extra income so there will be always miners when one of networks got problems. there are so many btc mining farm
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#3934

Blockchain is a world wide open network.Time and hollydays are not the same in different part of the world soo we need the network to stay open 24/24 and 365 days a year.
High availability is required to do transaction at any time.

  1. The miners are the one who give the network high availability. Even if a country is losing internet, the rest of the world still continue to mine and make sure the network stay open.
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#3935

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

  1. Why is it important for blockchain networks to be high availability networks?- Reliability, sustainability, and access to the network at all times.

  2. What is it that enables blockchain networks to have such high availability?- The mining incentive method of operating encourages other computers to join the network when there are deficiencies. Blockchain is not centralized so if there are failures in one location for any reason, other computers will bolster the network.

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#3936
  1. Why is it important for blockchain networks to be high availability networks?

It is important for blockchain networks to be “highly available” because it strengthens the network. The security of the network relies on miners. Everyone wants to make money; this incentivizes people to participate in the network, making it stronger.

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

Incentives and the desire to make money facilitates high availability. In mining for example. If mining becomes non profitable and miners start to turn off their machines, the network will respond by reducing difficulty. This incentivizes new miners to join the network.

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