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Blockchain needs a high volume of incentivized people to keep the network strong and running.
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The security derived from the benefits of verification/mining, and the ease of mining during low volume periods on the network. It keeps people coming.
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Why is it important for blockchain networks to be high availability networks?
High availability provides higher security to the network. This also allows the network to be running 365 and 24/7. -
What is it that enables blockchain networks to have such high availability?
High mining demands create high security for the network. Financial rewards are low when mining demands are high. Vice versa, rewards are higher when mining demands are low. This mechanism creates financial incentives for users to always keep the network secure.
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- The network has to be available 24/7 365/365. Nobody wants the network to be down because we all want to make money.
- Mining secures the network. The more miners the more secure the network is.
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- Why is it important for blockchain networks to be high availability networks?
As it is a global and so anybody can access it. It needs to be available every day, all year round. - What is it that enables blockchain networks to have such high availability?
If there is an issue within the network, other parts of the network intervene to fix the issue. As the work is incentivised, there is always availability.
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- Why is it important for blockchain networks to be high availability networks?
This is because it is a global infrastructure, operate online 24/7, 7 days a week, 365 days a year. - What is it that enables blockchain networks to have such high availability?
Due to it is a decentral network, each node is connected with each other. If there a node having issue, there always another node take over its place.
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To always be accessible/available. Ensures high security.
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Global network with many many nodes.
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Why is it important for blockchain networks to be high availability networks?
It increases security and it needs to always be avaliable because it is global -
What is it that enables blockchain networks to have such high availability?
The amount of computers in the network and the economical incentives for users to keep the network available and through that keep the value
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- Why is it important for blockchain networks to be high availability networks?
Blockchain networks are global and available 24/7/365. This is important because with so many different networks portion of them could stop working due to power failure or other reasons. When this happens, other computers join in and start mining. Higher availability also means higher level of network security.
- What is it that enables blockchain networks to have such high availability?
The same incentive of everyone who uses them – they/we all want to make money.
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- Why is it important for blockchain networks to be high availability networks?
Any network especially a financial network should be available 24/7/365 as this increases usability and security
- What is it that enables blockchain networks to have such high availability?
As it is incentivized to have people verifying it and people want to make money
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1: so people can use it all the time
2: people are incentivised to do so via mining
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- Because it is essencial to be accessible/usable at any time;
- Miners/Nodes receive rewards for their work. If a portion of the network disappears the difficulty of their work becomes lower, hence other miners/nodes will fill this gap.
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So that when some computers die, others can easily join the network and keep it alive and secure.
Incentives
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Because that is what makes it so successful, at the end of the day we all really want to have money, by being there 24/7 it allows everyone one to be IN at anytime.
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The huge availability, if a network crushes down, there will be immediately other computers joining in.
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1. Why is it important for blockchain networks to be high availability networks?
Being high available networks means the systems stays secure because if part of the network goes down there is another that will keep it running and transactions can still be running. This is because it is a decentralized system that not depends in only one server.
2. What is it that enables blockchain networks to have such high availability?
Nodes of blockchain installed in many computers of the network is what keeps high availability.
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Why is it important for blockchain networks to be high availability networks?
globe accessible 24/7/365 -
What is it that enables blockchain networks to have such high availability?
The incentive of the blockchain system…making money
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Why is it important for blockchain networks to be high availability networks?
High availability in a blockchain is very important, as it minimises the risk of failure across the network. If a failure of any type comes up on a server, then all the other servers of the network will automatically join to fix the issue and bring the situation back to normal. -
What is it that enables blockchain networks to have such high availability?
Motivation and the incentives of the network, everyone involved wanting to make money.
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-The network availability add’s usecases and on global scale everybody can access it all the time
-Incentives.
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- Because in this way users can use it at any time they wish. It is like the internet, imagine if on weekends the internet is cut off, it would be a bad experience for the users.
2 )Easy, nodes are incentivized to earn money, the more availability they have, the more likely they will be rewarded.
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- Its important that blockchain has high availability to secure the network and give confidence to users.
- Blockchains have high availability because Miners are incentivised to keep the network secure (they make money by keeping the network running). Also because the network is decentralized a failure in one part of the network will not take down the whole network.
Also mining difficulty goes down when there is less miners - this encourages more miners to join the network if part of the network goes down, incentivising through competition.
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It is a Must For the Network to be available. People Need to use it around the globe at any time.
Mining is a monetized incentivized system.
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