Homework on High Availability - Questions

Blockchain and Bitcoin 101
#4057
  1. Why is it important for blockchain networks to be high availability networks?
    Because it is needs to work 24/7/356 and provide all time services
  2. What is it that enables blockchain networks to have such high availability?
    There are many miners that provide aviliability
1 Like
#4058

  1. Because it is currency after all, and it is necesary to have high availability in currency system always, if not people will loose opportunities and money and we do not want that if bitcoin wants to become something greater.

  2. Mining, and the incentives of mining, people stop mining, other people start mining and so on.

1 Like
#4060
  1. Blockchain networks are shared by users around the entire world, there are always people needing to access it. The more available it is, the better the security and the opportunity to make money.
  2. Time zones. The blockchain is always being used
1 Like
#4061

  1. It is important so we can never stop and do transact constantly without any interactions, that’s why blockchain is the future.

  2. The high availability is out there because we are many and global. If F2Pool stop mining for a week there will be others to join in the mining.

1 Like
#4062
  1. Can use the system 24/7 365, very good for critical operations
  2. Thousand of nodes connected across the Internet.
1 Like
#4063

  1. It is important for Blockchain Networks to be higly available networks because it is a global system so that it can be available all over the world 24/7. It is also important for security to be available 24/7 so in case of a local breakdown other computers can immediately fill in the shut down parts.

  2. Computer networks all over the world enables Blockchain to have a very high availability.

1 Like
#4064

  1. It is important for blockchain networks to be highly available so they can be accessed 24/7, 365. People are also incentivized to keep Blockchain “alive” at all times as there are monetary rewards to be gained for protecting the network and keeping it going.

  2. Mining is what allows Blockchain networks to have high availability. Nodes also allow the networks to be highly available as they can detect when other nodes are “down” for whatever reason and are incentivized to keep security and performance at a high level.

1 Like
#4065

  1. It is important for blockchain to be high availability because it is needed for a global financial system and it is what protects the network.

  2. Blockchain networks have such high availability due to everyone wanting to make money.

2 Likes
#4066

  1. High availability means that the system in question needs to be available 24/7/365. For instance Bitcoin needs to be alive and running on the Blockchain to satisfy the financial requirements that people expect.

  2. incentives to keep the system running sand incentives for miners to make revenue creates a sense of urgency. Unification is created based on the universal desire to make money. This is very important for a global financial system. A failsafe system is crested by the availability of computers to fill whatever void might be created from a node dropping out of the network.

1 Like
#4067
  1. Availability must be high so that any data can be verified quickly at any time regardless of where we are in the world.
  2. High availability is enable by the desire of people to make money by working to verify transaction or data validity.
1 Like
#4068
  1. Because the blockchain network is global and needs to be accessible at all times.
  2. Everyone is incentivized to keep the network going 24/7/365.
1 Like
#4069
  1. Why is it important for blockchain networks to be high availability networks?

Because the main use of the blockchain is financial right now. It must run 24/7/365 to provide availability to anyone anywhere in the world.

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

Miners are incentivized to keep the blockchain running and secure. If mining becomes to difficult for the revenue, some will stop mining bringing the difficulty down ; incentive for new miners to start mining.

1 Like
#4070

Homework - High Availability
Benefits of Using Blockchain
Why is it important for blockchain networks to be high availability networks?
• Blockchain needs to be on high availability networks for it to function 24/7 globally

What is it that enables blockchain networks to have such high availability?
• Blockchain networks have such high availability because of incentives. Miners keep it running and in reward they receive a piece of the blockchain as well

1 Like
#4071

  1. It is important for blockchain networks to be highly available because people are incentivized to keep it highly available so they can make more money.

  2. Miners enable blockchain networks to have high availability so they can not only make more money but keep the network secure as well.

1 Like
#4072

  1. Why is it important for blockchain networks to be high availability networks?
    blockchain networks need to be highly available to maintain the security of the transaction record. With high density of nodes the security increases, with low amount of nodes, the security diminishes, but never goes away completely.

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain networks can achieve high availability by incentivizing users to keep the network up through participation. Monetary incentives seem to appeal to all people, thus driving participation in a consistent way.

1 Like
#4073

1. Why is it important for blockchain networks to be high availability networks?
The higher the availability of the network, the more reliable it will be. With practically zero down time, we can our records, investments, and other data will always be available to us.

2. What is it that enables blockchain networks to have such high availability?
The mining industry enables blockchain networks to have such a high availability. If more machines went offline, it would be easier for miners to add more machines to the network (they would be incentivised by how much easier it would be for them to make a profit).

1 Like
#4074

  1. Why is it important for blockchain networks to be high availability networks?
    In order for financial networks, supply chains and many other business applications to function, high availability networks are required. Blockchain networks are 24X7X365.
    This allows for bitcoin and altcoins to be traded 365 days a year around the clock.

  2. What is it that enables blockchain networks to have such high availability? Mining provides this high availability through incentives. When there are not enough miners incentives increase. The reverse is true when there are excess miners. Through incentives there are just enough miners to maintain high availability.

1 Like
#4075

  1. It is important for blockchain networks to be high availability networks because it maintains global accessibility 24/7/365.

  2. Mining incentives enables blockchain networks to have such high availability because the less people mine, the more incentive there is to confirm transactions.

1 Like
#4076
  1. Changes to and access to the network must be maintained for their inherent value to be realized.
  2. Such availability is achieved by incentivizing the operating nodes to continue to ‘play by the rules’
1 Like
#4077

  1. the more available a network is, the more accessible it becomes which incentives miners to keep the wheels turning. Thus, this creates a solid foundation for users to build trust, and productivity levels skyrocket globally as adoption rates grow.

  2. Incentivization built into the protocol attracting higher levels of participation. should the participation drop, the mining of these coins becomes less difficult, thus incentivizing new participation to enter and re-establish the stable and high-level functioning the system was intended to operate at.

1 Like