Homework on High Availability - Questions

Blockchain and Bitcoin 101
#4218

1)Why is it important for blockchain networks to be high availability networks?
Than it is more secure.

2)What is it that enables blockchain networks to have such high availability?
It is because people are incentivized and so it could run 24/7/365

1 Like
#4219

It is important to sustain the flow of transactions and the associated verifications without any disruption
Because as soon as part of the network becomes unavailable, other computers will join in due to the incentives

1 Like
#4220

  1. So people can have access to the blockchain all the time. The network can always operate as intended with no down time.

  2. They’re run on the internet and incentivise users to keep the network up and running.

1 Like
#4221

Because everyone is incentivized about to participate in that.

Because of mining. More people on it, it’s harder to do that. Less people on it, it becomes easier.

1 Like
#4222

  1. Because the more computers are on the network the more secure it is

  2. Because people are incentives to keep mining and everyone wants to make money

1 Like
#4223

Why is it important for blockchain networks to be high availability networks?
It helps everyone stay incentivised to make money and network security is high when mining is high.
What is it that enables blockchain networks to have such high availability? Mining protects the network by increasing security for the network to remain available

1 Like
#4224
  1. Why is it important for blockchain networks to be high availability networks?
    because by that it increases security.
  2. What is it that enables blockchain networks to have such high availability?
    because people get incentives by doing mining
1 Like
#4225

Assignment:

  1. Why is it important for blockchain networks to be high availability networks?
  • High availability allows for everyone at anytime to supply computing to the network increasing redundancy and security, resulting in greater availability
  1. What is it that enables blockchain networks to have such high availability?
  • What enables this is the fact that supplying computing power is rewarded, increasing incentive.
2 Likes
#4226
  1. Why is it important for blockchain networks to be high availability networks?

A: Because it means high security and incentivized by people making money.

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

A: It runs 24/7/365

1 Like
#4227
  1. Why is it important for blockchain networks to be high availability networks?
    Because we need to be able to make a new transaction in any time
  2. What is it that enables blockchain networks to have such high availability?
    The fact that even if some nodes goes down others are incentivised to join because the mining complexity goes down and there are opportunities to make money for the ones who joins
1 Like
#4228
  1. it is a global infraestructure which connects everything, participants therefore need to keep it alive since there is so much that you can build on top
  2. Incentives. Participants earn money for keeping it alive.
1 Like
#4229

  1. It is important for blockchain networks to be high availability so that it can be used across the globe at any time 24/7. The network needs to be always running so that people can rely upon it and use it seamlessly.

  2. It is the incentives of participating on the blockchain network that causes it to have high availability. If people can constantly make money by participating in the blockchain, there will always be people willing to do so even if other parts of the network shutdown for whatever reason.

1 Like
#4230

Homework on High Availability - Questions

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

-It is important for blockchain networks to be high availability networks because constant and persistent access allows wider adoption, greater ease of use, and overall higher dependability.

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

-Financial incentives such as block rewards for mining.

1 Like
#4231
  1. Why is it important for blockchain networks to be high availability networks?

So that the security of the network is always maintained.

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

Many computers in the network that are all working together to maintain the blockchain and being incentivized to do so. Available 24/7/365

1 Like
#4232

1- because it’s global and need to run 24/7/365 and for that the network has to be alive all the time

2- mining is how the high availability is maintained

1 Like
#4233
  1. Because for it to be global infrastructure it must run around the clock.

2.Incentives. The fact that everyone wants to earn money.

1 Like
#4234
  1. Why is it important for blockchain networks to be high availability networks?
    because multiple nodes need access at all times to maintain consensus and because its available globally it needs to be accessible at the convenience of everyone on this planet regardless of time
  2. What is it that enables blockchain networks to have such high availability?
    the miners who continually maintain security and availability and are incentivized to keep the network up and running at all times
3 Likes
#4235
  1. Tasks can be performed 24/7/365 when the network is always available and reliable for users.
  2. Incentives are given and rewards are increased when more miners are needed to keep the network available.
1 Like
#4236

  1. It is a global network that is kept alive by reaching a consensus for every transaction.

  2. People are incentivized to make money by running nodes.

1 Like
#4237
    1. High availability opens the technology up for more usecases which need 24/7 access to their data.
    1. The nodes are scattered across the entire world and therefore the chance of them all going offline at exactly the same time is extremely low. Also, all nodes are incentivized to take part in the network through mining & the rewards this brings. Should miners leave the system, the difficulty to find blocks is reduced, and the incentive is therefore higher -> leads to new miners joining -> network becomes more secure.
1 Like