Homework on High Availability - Questions

Blockchain and Bitcoin 101
#4118
  1. To be more efficient and secure
  2. Mining
1 Like
#4119

1 - It’s very important because the network has to be available 24/7. Like internet connection, the blockchain network is required to be accessible at anytime.

2 - The blockchain high availability is guaranteed by all the computers connected to the network across the world.

1 Like
#4120

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

    So that anyone can access it from anywhere at any time, just like it was intended to be.

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

    Miners are directly responsible for keeping blockchain alive and they are incentivized to do so because of money.

1 Like
#4121
  1. It is important to be high availability network to be a highly secure infrastructure.
  2. Financial incentives are what enables blockchain networks to constantly be highly available. If a lot of people decide to stop mining because it is too difficult and not worth the incentive anymore, the mining difficulty will decrease as well as the network security, leading other miners to take their place and bring the security up once more.
1 Like
#4122
  1. it means the network should always be available , because it is important for transitions , if network won’t be available the system can be easily down. and network will loose track of transitons
  2. because there are so many systems available and everyone can easily be a miner , it is not single point of contact , it is not only one server . there are so many miner avaible , so if one goes down there are always another one to recover
1 Like
#4123
  1. If blockchain is to be a global system it need to work 24/7
  2. great incentive -mining
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#4124

  1. Why is it important for blockchain networks to be high availability networks?
    High availability essentially enables real time exchange of information or transactions and minimizes the risk of downtime that can prevent instantaneous exchange to occur which correlates to lost in resources, productivity and efficiency over time.

  2. What is it that enables blockchain networks to have such high availability?
    Incentives are the key to allowing the blockchain to sustain as action performed on the blockchain are verified by mining process of blocks(for Bitcoin) while network operators who successfully mine these blocks are rewarded with Bitcoin.

1 Like
#4125

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

It is important for blockchain networks to be HA networks because this enables the network to eliminate single points of failure and increase security. This is achieved through POW mining. This mining is financially incentivized, and a large number of financially incentivized miners in different geographical locations will mean an increase in stability and security, making the network a HA network.

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#4126

  1. You have 24/7/365 infrastructure that is secure

  2. Incentives

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#4127

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

HA on the blockchain network is achieved through multiple nodes on the network each holding a copy of the database locally, thus eliminating any single point of failure issues. If any one node fails and loses its database, there are multiple nodes still in possession of that data, and this database has been verified by POW miners who are financially incentivized to improve security and stability.

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#4128
  1. Global network needs to be open 24/7 for anyone in the world to access it and blockchain achieves this. It is also important for reliable access and use of the database
  2. Because miners are incentivized to participate in the network. Everyone wants to make money. When for some reason they are less miners, difficulty decreases and new miners are incentivized to jump in.
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#4129

  1. Why is it important for blockchain networks to be high availability networks?
    Nowadys we need 27/7/365 availabilty. Earth never sleeps

  2. What is it that enables blockchain networks to have such high availability?
    Simple saying: money Miners are incentiveted to mine and earning money

1 Like
#4130
  1. Because blockchains are global and will be used 24/7, 365 days a year.
  2. Large number of nodes that are incentivised to secure the network. If a certain amount of nodes stopped mining, they would quickly be replaced.
1 Like
#4131

  1. Because it’s used worldwide and people want and can use it and have access to it all time

  2. Mining and desire for money

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#4132
  1. Why is it important for blockchain networks to be high availability networks?

to secure global infrastructure

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

incentives to make money

1 Like
#4133

  1. Why is it important for blockchain networks to be high availability networks?
    This is important to promote blockchain’s global reach, spanning all time zones makes blockchain inclusive no matter your location.

  2. What is it that enables blockchain networks to have such high availability?
    Essentially the incentives to miners, eg. for bitcoin when there are a small number of miners the mining difficulty decreases hence lower barrier to entry, securing its availability.

1 Like
#4134
  1. Why is it important for blockchain networks to be high availability networks?

Answer: Blockchains work in real time, with real world data and transactions. As they are useful in highly important use cases such as value/currency then they need to robust and prevent issues and delays. They solve global issues, so all corners of the world need to be able to use the network properly and at any time.

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

Answer: The network is never down. Miners are incentivised to keep the network operation through rewards. This creates a huge demand for rewards to ensure the blockchain is operating effectively.

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#4135

  1. To ensure the global infrastructure continues 24/7 365 for anyone in the world to access.

  2. Mining enables blockchain networks to have high availability regardless of if part of the system goes down, as miners will step in to fill this void and keep the blockchain up and running.

2 Likes
#4136
  1. Why is it important for blockchain networks to be high availability networks? Because high availability makes use of it more efficient. Because you can access it any time you need it no matter where you are located.
  2. What is it that enables blockchain networks to have such high availability? Mining 24/7.
1 Like
#4137
  1. The more people on the network the more secure.
  2. Incentives. More miners = more secure = more difficult to mine, less miners = easier to mine = more miners join system = more security.
2 Likes