Homework on High Availability - Questions

Blockchain and Bitcoin 101
#4037
  1. Why is it important for blockchain networks to be high availability networks?
    Its a global network with potentially a lot of applications relying on it, so its important that it’s effective and can validate transactions all the time.
  2. What is it that enables blockchain networks to have such high availability?
    The incentives (the process of mining here) are key.
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#4038

1 it is very important because there a lot of application running on top of it. and the high demand of the network.
2 because every one want to incentivized, thats why they make the network always available, a because of the high demand of decentralization globaly.

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#4039

  1. Why is it important for blockchain networks to be high availability networks?
    Because the network needs to confirm all transactions in real time to ensure transaction history and validation. The system need to be available 24/7/365 to keep up the network functionality.

  2. What is it that enables blockchain networks to have such high availability?
    The system protect itself through incentives. The miners confirm transactions and earn rewards. Low number of miners will automatically increase rewards and many new miners join the network. If too many miners active, the difficulty increases and the mining is not attractive any more. This stabilizes the network and ensures that there is always enough distributed computation power.

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#4040
  1. Why is it important for blockchain networks to be high availability networks?
  • Because it can have a huge selling point. So far this is the longest living network of all time 365/24/7. Everyone is incentivized to keep it alive because everyone wants to make money
  1. What is it that enables blockchain networks to have such high availability?
  • Mining is how we protect the network and how people make money protecting the network. Mining basically enables other computers to join the network if some of them don’t work. It’s all connected. No network in the world was performing this well and be accessible this way before.
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#4041

  1. High availability is an important feature important of blockchain networks as it provides a high degree of performance and accessibility to users of the network.

  2. Mining enables blockchain networks to have high availability.

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#4042
  1. Why is it important for blockchain networks to be high availability networks?
    a- It is important for blockchain networks to be high availability networks in the fact that if one portion of the network dies, other networks will jump in and solve the problem. Networks are incentivized to keep high availability.
  2. What is it that enables blockchain networks to have such high availability?
    a- Incentivization allows for blockchain networks to have such high availability. When security goes down, the the demand for validators increases. In Bitcoin for example, people are incentivized to keep the network alive to make money.
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#4043

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

  • Must be available all the time so it can ensure security and trust.

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

  • Incentivized miners keep the network running.
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#4044

  1. It is important because the more nodes there are, more secure the network and less chance of loosing everything.

  2. every node is a part of the network, as long as there is one the blockchain is stored thus the more the merrier. :slight_smile:

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#4045

  1. It is important for blockchain networks to be highly available networks because they work on a global infrastructure where lots of active nodes are required at all times to increase security.

  2. Financial incentives are used (mining) where people are essentially paid for keeping the network secure. If for any reason the number of miners dropped other people would be incentivised to start mining for financial reward. This means the is always a high availability.

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#4046
  1. 24/7/365 required for Global financial system.
  2. Miners and thus the security that is associated with mining.
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#4047
  1. Why is it important for blockchain networks to be high availability networks?
  • Currency and transactions involving currency happen all the time all over the world. For it to be a globally viable option, a blockchain network must be high availability to support such transactions on 24/7 basis.
  1. What is it that enables blockchain networks to have such high availability?
  • The miners and the entire eco-system surrounding miners. If one part of the network goes down, then another picks up mining activity ensuring constant availability.
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#4048
  1. Why is it important for blockchain networks to be high availability networks?

Services are always running 24/7. The system is always available even if a few nodes or computers are down and not functional. The availability increases the reliability. This leads to a more secure and stable network.

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

Miners and in some cases, stakers but also incentives.

1 Like
#4049

  1. Why is it important for blockchain networks to be high availability networks? Because if the network will crash or stop working nobody will trust it any more and the system will collapse and bitcoin will lose all value.

  2. What is it that enables blockchain networks to have such high availability? - Because the network is running - 24/7/365, Nodes are incentivized for mining so each node wants to be connected all the time.

1 Like
#4050
  1. Why is it important for blockchain networks to be high availability networks?

Global financial networks and any other use cases for businesses need the blockchain to maintain uptime for it to be useful and valuable.

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

Mining incentives keep the desire to provide the network up and running constantly due to the demand to make money.

1 Like
#4051
  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.

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

The global use of multiple nodes enables blockchain networks to maintain high availability as
it is constantly running in many, many different locations all around the world. A truly global network.
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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#4052
  1. Why is it important for blockchain networks to be high availability networks?
    Because of its global nature and because the blockchain should be available 24/7/365, it is necessary to keep it always running. Furthermore, as there is money involved – it should be 100% available and 100% secure.
  2. What is it that enables blockchain networks to have such high availability?
    Such a high availability is maintained by the remuneration (incentives) that single participants of the blockchain network receive for approving transactions (mining). When money involved – no time to sleep :smiley:
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#4053
  1. We need high availability to build some important services which rely on high availability.
  2. Because of mining! Everyone wants to make extra money
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#4054

Homework on High Availability

  1. Why is it important for blockchain networks to be high availability networks? High avaiability enables everyone around the globe to participate 24/7/365 days per year. Also it increases trust and security

  2. What is it that enables blockchain networks to have such high availability? The incentive of earning money by mining keeps it alive

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#4055

1 - by being highly available means it is constantly running with is importantly for a global financial system for example.

2 - the incentives/rewards for contributing to the network through mining that keeping the network always accessible.

2 Likes
#4056

  1. It is important for networks to be a available 24/7 365 for a truly global system that anyone in the world can access at any time (with an internet connection).

  2. Mining enables high availability due to financial incentives.

1 Like