Homework on High Availability - Questions

Blockchain and Bitcoin 101
#4017

  1. Why is it important for blockchain networks to be high availability networks? Reliability: Data doesn’t stop just because a few nodes might get knocked off line.

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

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#4018

1.Why is it important for blockchain networks to be high availability networks? So they can be accessed at any point in time because they are never offline.
2. What is it that enables blockchain networks to have such high availability? The amount of mining happening at any given point allows easier access the more mining is occurring.

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#4019

  1. To perhaps circumvent structural failures and keep the information highways and individual nodes running securely and immutably.

  2. Incentives and, of course, financial rewards. Say, brotha, can you spare me some BTC…?

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#4020

  1. To keep the system online 24/7. But I feel the question should focus from the other angle - they’re not highly available due to importance or necessity, but rather as a byproduct of people wanting to make money

  2. Decentralised nature means there’s not 1 central computer for instance, but many that keep the network alive - thus, it never goes ‘offline’

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#4021
  1. The reason it’s important for blockchain networks to be high availability is that there needs to be an ongoing service for networks to keep awareness and not to put the blockchain network guard down.
  2. It enables blockchain networks to have high availability for protection and can be kept as a bank except that bitcoin can pay when crypto goes up. Mining as well that can’t be off.
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#4022
  1. Why is it important for blockchain networks to be high availability networks?
    The blockchain needs its network to run 24/7/365 in order to operate its global database and run transactions.
  2. What is it that enables blockchain networks to have such high availability?
    Miners are incentivized to protect the network. The more miners there are, the more expensive it becomes to operate. The more less expensive it becomes, more miners opt in, hence the network adjust accordingly.
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#4023

  1. Why is it important for blockchain networks to be high availability networks?
    So that transactions can be processed at any time without a lot of lag.

  2. What is it that enables blockchain networks to have such high availability?
    The incentives provided to keep people on the network checking transactions.

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#4024
  1. That it can scale fast, as more people join as more secure it will get, and on a global basis to ensure trading anytime
  2. Through mining, because a lot of people can make money and so there are many people who want do mining and that makes the network more safe as well
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#4025
  1. That it can scale fast, as more people join as more secure it will get, and on a global basis to ensure trading anytime, anywhere in the world
  2. Through mining, because a lot of people can make money and so there are many people who want do mining and that makes the network more safe as well
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#4026 
1. Why is it important for blockchain networks to be high availability networks?
2. What is it that enables blockchain networks to have such high availability?

A1. It is important for blockchain networks to be high availability networks in order to increase network security and accessibility. Blockchain network infrastructure operates 24/7/365 worldwide. This is achieved though mining activity as the network is decentralised.

A2. Blockchain networks have such high availability through the monetary incentives generated as a result of mining. Mining activity allows nodes to verify transactions, maintain and update the ledger, and adjust inflation.

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#4027
  1. Why is it important for blockchain networks to be high availability networks?
    A. To keep the security of the network up.
  2. What is it that enables blockchain networks to have such high availability?
    A. Incentives for mining. If nodes drop off, mining becomes easier, this encourages more nodes to join. There is an equilibrium where the incentives to mining difficulty self level.
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#4028

Why is it important for blockchain networks to be high availability networks?
So that there is no interruptions in the transactions.
What is it that enables blockchain networks to have such high availability?
the decentralizations of the ledgers.

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#4029
  1. Why is it important for blockchain networks to be high availability networks? The network is global and needs to be available all the time to be effective and to validate transactions
  2. What is it that enables blockchain networks to have such high availability? mining people who mine are keeping the network open while mining
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#4030

  1. Its important because it makes it incentivised.

  2. The network and the so to call back-up network

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#4031

1. Why is it important for blockchain networks to be high availability networks?
It is important because because it is a global network with potentially many different applications be it financial, healthcare, social or supply chain. This kind of reach needs to be operable 24/7/365 for it to run smoothly and ensure the network is upheld at all times.

2. What is it that enables blockchain networks to have such high availability?
The network admins or ‘miners’ are people that keep the blockchain network running all the time, this is done by incentivising the miners with money for doing so. There is always a situation where a miner would be making money. If there is less miners it becomes easier to maintain the network and people are incentivised to mine because there is money. Likewise when there are more miners less people maintain the network which causes it to fall and new miners join maintaining the network for new profit. This constant cycle of incentivised profit means the network is always available.

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#4032
  1. Blockchain networks require high availability to function correctly and maintain the consesus that the distributed ledger is accurate. The system simply wouldnt work if it wasnt available 24/7, 365 days a year.
  2. The global use of multiple nodes enables blockchain networks to mainatain high availability as it is constantly running in many, many different locations all around the world. A truely global network.
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#4033
  1. It must be available 24/7 to enable transactions on the network without interruption
  2. The incentive structure ensures there will always be miners to keep the network running as it is profitable to do so
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#4034

1- To make them most reliable.

2- The big incentives.

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#4035
  1. Why is it important for blockchain networks to be high availability networks?

Because it is faster, it can allows more transactions.
It is also to keep security high.

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

Incentives

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#4036
  1. to allow different project run smoothly and securely regardless of what service they provide.
  2. the availability of the network which have several computers that all have a copy of the same ledger.
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