Homework on High Availability - Questions

Blockchain and Bitcoin 101
#4198

1. Why is it important for blockchain networks to be high availability networks?
Blockchain networks are in high demand worldwide and never close. They operate 24/7 365 and for this reason, it is important for the network to have high availability.

2. What is it that enables blockchain networks to have such high availability?
Incentives to make money is what allows the blockchain to have such high availability. People around the world are interested in making money and using their money within the blockchain networks, and this causes the incentive for people everywhere in the world to set up nodes and become miners, further increasing the network and its overall availability.

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#4199

1.) Because everyone wants to make money, it is important in a value-network that you can do things with money 24/7/365 to enable that.

2.) Because of the Miners. If some computer system in the network shut down, the difficulty sinks and very soon other computers will make their job to take the profits.

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#4200

Why is it important for blockchain networks to be high availability networks?
Because it is important for global secured financial system that everybody wants

What is it that enables blockchain networks to have such high availability?
Incentives, when one miner drops off another joins straight away which make it 24/7/365 network

2 Likes
#4201
  1. Why is it important for blockchain networks to be high availability networks?

To keep transactions flowing without an interruption. There are no lost transactions due to down time. I recently used a DEX decentralized exchange and the there may have been a lot of demand for a new token but there was no downtime. Where a centralized exchange has trouble handling the traffic when there is high demand.

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

There are many nodes around the globe and if one goes down another will take the transaction and confirm it.

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#4202
  1. Why is it important for blockchain networks to be high availability networks?
    It’s important to have high availability networks for increased 24/7/365 security and no way for the network to really crash.
  2. What is it that enables blockchain networks to have such high availability?
    Miners have the incentive to be paid in btc and are paid when they capture a false transaction. Mining is a way to for people globally to make money.
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#4203

High availability means 24/7 operation. They work all the time to serve ppl’s endless needs.

How? Through mining. Miners fill the gap if some part of the network is down.

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#4204

1- Because it needs to be available 24/7/365. Miners are incentivized to keep the network alive.

  1. Mining. If one or many miners shut down, there will be other miners immediately to replace them. This keeps the network alive 24/7/365.
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#4205

  • Why is it important for blockchain networks to be high availability networks?
    Because Blockchain is a global network and needs to remain available always.

  • What is it that enables blockchain networks to have such high availability?
    Inccentives is what makes the network stay alive at all tmes.

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#4206

  1. Why is it important for blockchain networks to be high availability networks?
    Anyone, anywhere can access the network at anytime.

  2. What is it that enables blockchain networks to have such high availability?
    24/7 miners earning rewards to operate and maintain the network.

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#4207
  1. If a blockchain network is highly available, it allows constant transactions and progress, there are no breaks, with this new high availability, it incentivizes constant activity.
  2. Mining is what protects this high availability network, if a large portion of computers suddenly loses connection, a new group of computers will instantly start mining to replace them.
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#4208

Q1. Why is it important for blockchain network to be high availability network?
A. High availability keeps production going.

Q2. What is it that enables blockchain networks to have such high availability?
A. Blockchain miners have an incentive to keep their hardware on. Allowing a 24/7 availability
network to rely on for production.

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#4209
  1. Why is it important for blockchain networks to be high availability networks?

It is important that blockchain have a high availability network because that means the security levels are high and that makes the entire blockchain system more secure for everyone.

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

Financial incentivize it’s what makes the blockchain network to be high availability by doing mining.

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#4210

1&2 High availability networks allowing access to anyone globally allows for mass adoption of technology, infrastructure and payment systems etc. Maintaining high availability networks is done through incentives to keep the network secure and healthy.

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#4211

1.) It is important because everyone should always have access to the network. This helps increase the security of the network.

2.) Blockchain networks have high availability because the miners keep the network running. Miners are incentivized to complete transactions through monetary rewards, therefore there will always be people willing to mine.

1 Like
#4212

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

    High availability allows for the network to run 24/7/365. It also increases the network security, which is caracterized by the number of peers linked, sharing the same information at the same time.

    Businesses and markets can be always open on a global secure network.

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

    The network incentivizes people to keep it on through monetary compensation. Mining is a big part of this process, allowing people to earn money while being part of the infrastructure.

    By working this way, there will always be people to maintain a high availability and stability to the network.

2 Likes
#4213
  1. Why is it important for blockchain networks to be high availability networks?

Because it brings the reliability of the network to users, blockchain is always available when users want to use it ==> reliable.

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

By incentivizing miners, there are a lot of parties to become miner to secure the network and provide high availability.

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#4214

  1. High availability allows for exponential growth of the network. i.e if you’re using block chain for finance like in bitcoin the network nodes need to be checking transactions to make funds available quickly. Otherwise the network is slow and virtually unusable for something like finance.

  2. blockchain miners are monetarily compensated for the swift verification of data. This incentive through payment creates for an environment where miners want to be a quick as possible in the verification of new transactions.

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#4215

  1. It is important because the Blockchain is global and money is made all over the world at different times. There is always someone awake somewhere where others are sleeping. There are also other infrastructures that aren’t just financial that need 24/7 operating availability, hospitals etc.

  2. There aer always people around the globe being incentivized to assist with keeping the network at high availability (i.e. mining, still need more info on this).

1 Like
#4216

Why is it important for blockchain networks to be high availability networks?
If any service or network has downtime, often or temporarily, it increase the feeling of insecurity and might/will result in a decrease of users.

What is it that enables blockchain networks to have such high availability
Multiple nodes working as one, if there is a power out or internet disrupting for any of the nodes the rest just keeps on working.

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#4217

  1. Blockchain networks need high availability or they won’t be nearly as useful to people and can’t scale in the way that they need to for mass adoption.

  2. Blockchain has high availability because miners are incentivized to be active all the time.

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