Homework on High Availability - Questions

Blockchain and Bitcoin 101
#382

hi Marsrvr,

can i use your diagram for a model I am building? I can pay some eth or ltc (allowed here to say?)

#383

[quote=ā€œivan, post:1, topic:8426ā€]
Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks? data transmission is dependent on availability
  2. What is it that enables blockchain networks to have such high availability?ability to verify transactions by all participants, in the case of decentralized chains it is dependent on the payment structure or incentives to maintain a large number of users
#384

[quote=ā€œivan, post:1, topic:8426ā€]

  1. Why is it important for blockchain networks to be high availability networks?.
    They have a extreamly low possibility of crashing because everyone is always using the network.
  2. What is it that enables blockchain networks to have such high availability?
    It is always online. If miners pull their computers there will be new computers that will be put online to take their place all in the name of profits.
#385

  1. Why is it important for blockchain networks to be high availability networks?
    Because it is so global and security is always needed which comes with high availability networks where miners are always available. Itā€™s 24/7 365 days/year.

  2. What is it that enables blockchain networks to have such high availability?
    Because miners are always available, this is how they make money, they are incentivised to be availabe. A global network of miners leads to high availability.

#386

Why is it important for blockchain networks to be high availability networks?
It is important for global adoption for example, there is not a minute in the world where value is not being transferred, and therefore it cannot have suspensions for it to be a competitive system

What is it that enables blockchain networks to have such high availability?
Blockchain is decentralized, does not choose who participates (everyone can) and does not force you to stay connected, but it is a system that encourages you to stay because you win by staying. So when we have a big and global network the high availability is granted.

#387

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
  • in order to provide a 24/7/365 immutable ledger which seals data in blocks foreverā€¦
  1. What is it that enables blockchain networks to have such high availability?
  • incentivised miners and adjusted difficulty levels ensure the verification process remains fully secured and future proof
#388

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
  • system must be accessible 24/7/365 especially when dealing with borderless / trust less magic internet money
  1. What is it that enables blockchain networks to have such high availability?
  • operates on the World Wide Web so miners can access from anywhere in the world and if hash rate drops due to less miners then reward goes up which incentives new miners to jump in and start hashing
#389

Decentralized blockchains are international computer networks not belonging to any one company or nation-state. As a result they should be accessible by all individuals around the world rather than being in one time zone or another. The high availability encourages global distribution which further increases security by removing single point of failure. If one miner goes down or is taken down another takes their place. If a node goes down there is a copy of the entire blockchain on all other nodes so no information is lost.

All kinds of blockchain users are incentivized by making money to secure the network by developing, mining, running nodes or HODLing.

#390
  1. Being a high availability network increases security and prevents failure from downtime.
  2. Mining incentivizes users to produce hash rate that is rewarded.
#391

  1. It is important for blockchain networks to be high availability networks because it is a global network and there is always someone in the world who needs to use it.

  2. There is such high availability because there is always an incentive for miners to mine bitcoin and verify transactions which makes them money. When a big portion of the network goes offline, the difficulty to mine goes down so the ability to make money mining and incentives go up, so more computers will start mining.

#392

  1. If you are going to use blockchain for some reason you want to know itā€™s up and running 24/7.

  2. Because there are miners in the network and they have incentive to contribute to the network.

#393

My ā€œBlockchain Fundamentalsā€ notes sphere is public. Help yourself, and screen shot it to your heartā€™s content. Just reference it going forward. gnu public license. The reference attention is enough compensation for me. :blush:

Hereā€™s the link, but bring a browser with a GPU. This beast kills phone browsers:

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#394

Homework on High Availability - Questions

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

Its important because it allows for transactions to be sent 24 hours a day 7 days a week 24 hours a day the same why the world relies on networks like Visa and Master Card who have had a history of there networks going dark for short periods of time. While Bitcoin since its inception has never had down time because its not centralized its reliant on the many computers/nodes that make up the network who are incentivized into maintain the network by mining.

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

Again, the incentive of mining is what keeps the bitcoin network up and running. Even when difficulty raises miners might stop production but there will be someone waiting to take their place once mining difficulty is lowered and the incentive to mine bitcoin is higher. This incentive system for blockchain is what feeds peopleā€™s human nature to make money which in turn will lead to bitcoins network never being off line.

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#395

Homework on High Availability - Questions

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

!) Because being accessible 24/7/365 they can be relied upon.

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

!) Incentives enable blockchain networksā€™ high availability.

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#396

uh ok , I am not completely sure how to do but I will learn before i share

gnu? general___Use?

Thank you Great

this helps a ton

#397

1 Blockchain needs to be always available to improve security and to be available for transactions

2 Miners are incentivised to be online 24/7

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#398

  1. because as a global infrastructure, it is important for people to be able to use the network 24/7/365. more people and miners in the network, higher the security

  2. the miners have a financial incentive to keep the network alive 24/7. mining is how we protect the network

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#399

  1. A good blockchain should be available and working 24/7/365 to be really trustable. imagin bitcoin going down for just 1 minute, the trust in the network would be catastrophicly impacted.
    blockchain is a worldwide system and itā€™s always 5 oā€™clock somewhere.

  2. The incentive to keep the network going is that every person on earth has 1 thing in common, they want to make money.
    keep the network going = earn some extra money.

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#400

it is important they be high availability so that people can use them anywhere in the world at any time. the mining of coins by the many computers on the blockchain ledger is what enables it to be such a high security and high availability. these miners have a financial incentive to mine because they are making money mining

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#401
  1. Because everyone wants to make money. Not all the world is banked and not all of the world is in daylight at the same time. Blockchain is available to anyone 24/7/365
  2. The blockchain is being mined 24/7/365. Each year more and more on ramps to blockchain are built for the general public. Each year more uses for blockchain are being discovered.
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