Homework on High Availability - Questions

Blockchain and Bitcoin 101
#4258
  1. It keeps the blockchain secure and allows people to use it at any time around the world.
  2. The incentivized returns from mining allows the network to stay protected.
1 Like
#4259
  1. Why is it important for blockchain networks to be high availability networks? Because blockchain is a global infrastructure it must be available 24/7
  2. What is it that enables blockchain networks to have such high availability? Financial incentives are provided in the form of mining
1 Like
#4260
  1. Because it is a global network it needs the be accessed 24 hours a day 365 days a year

2.because it is incentivised for the miners to keep the network going all the time

1 Like
#4261
  1. Being available 24/7 gives customer access to the database anywhere anytime.
  2. Incentives
1 Like
#4262

1Why is it important for blockchain networks to be high availability networks?
It is important because everyone is encouraged to use and trust in it

2What is it that enables blockchain networks to have such high availability?
Incentives, in another word mining. and by globalizing it. and making it run 24/7/365

1 Like
#4263

Why is it important for blockchain networks to be high availability networks?
It is important to incerease their adoption. The availability is one of blockchains core values and advantages.

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

People are incetivized to do mining (keep the network running) with rewards.

1 Like
#4264
  1. It is important because it is available 24/7/365 network infrastructure.
  2. Because the blockchain network is incentivized for every participant.
1 Like
#4265

1- Because blockchain networks are global networks. So there is no time for downtime.
2- There is no single place that runs the blockchain. The high number of participating computers can easily compensate if a few drop out.

1 Like
#4266
  1. Why is it important for blockchain networks to be high availability networks?

It’s important for the blockchain to be highly available because this is a global network. The network has to be online 24/7/365, so that users can make a transaction whenever/wherever they want.

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

Miners have a financial incentive to participate in the network. These rewards are adjusted based on the difficulty of mining a coin at a given point in time.

1 Like
#4267

  1. to facilitate anyone anywhere fairly.

  2. because they run 24/7

1 Like
#4268

  1. Why is it important for blockchain networks to be high availability networks?
    Ans.#1:
    Everyone wants to make money in the global Blockchain network. The ecosystem has to be available to all markets, financial institutions and commerce venues as they come on line during the 24-hour period. The Blockchain ecosystem also requires constant updating as the world conducts business transactions. Global commerce depends on this non-stop availability in every hemisphere on an as needed basis.

  2. What is it that enables blockchain networks to have such high availability?
    Ans.#2:
    HA starts with the 24/7/365 availability on the global network. Blockchain network has constant use as markets open and close throughout the world. In these markets, people are incentivized to pursue wealth and make money. The decentralized nature of the Blockchain ecosystem enables the system to run during off hours or holidays in some areas of the world, electrical interruptions, natural disasters, compromised centralized systems because the Blockchain network is everywhere at all times. The decentralized, independent ledger constantly updates eliminating any geographical points of failure that would cripple or limit a centralized system or localized informational silo.

RJR
2021-02-25T05:00:00Z

1 Like
#4269

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

It is important for blockchain networks to have high availability so that they can be accessed at any time by people who want to use it.

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

Blockchains have such high availabilty because if there is a problem with for example electricity, software or hardware in one part of the world and a certain proportion of nodes stop from securing the network immediately other nodes will take their place to keep the network running and secure. This is because the less nodes running the network the higher the financial incentives to those nodes hence any drop in number will raise the financial rewards causing other nodes to pick up the slack until an equilibrium is reached once again.

1 Like
#4270

Why is it important for blockchain networks to be high availability networks?
Blockchain networks are incentivised to have a very high security in order to protect and make money operating 24/7/365.

What is it that enables blockchain networks to have such high availability?
Everyone has an incentive to make money.

1 Like
#4271

  1. Because it stores valueble information. In case of bitcoin it is a financial system for example which is in need to be accessed all the time.

  2. It is due to incentive. Everyone wants to make money so everyone has the inventice to keep the blockhain network at high availabilty.

1 Like
#4272

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

    so that transactions can happen 24/7

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

    no single point of failure

1 Like
#4273

  1. Multiple nodes work as one 24/7/365 is a proposition :star_struck: in networks. Use cases for applications who need a network with (global) high availability and certain (global) accessibility can be served with this proven global network. Therefore, it’s interesting for (global or local) markets in finance :moneybag: , supply chain :link:, logistics :truck: and all kinds of unique transactional processing like with(in) government :classical_building:, health care :hospital:, construction :building_construction:.

  2. Due to mining incentive :money_mouth_face: to make money for protecting the network. When mining decreases :arrow_down:, then it will be easier to mine. As a consequence, more mining (money making) will start :arrow_up: until enough computers are connected again to protect the network. This is a closed behavioral incentive circle :arrows_counterclockwise: that continues and assures the :earth_americas: high availability 24/7/365 .

2 Likes
#4274
  1. Used Globally 24-7-365
  2. Incentivized
1 Like
#4275
  1. Why is it important for blockchain networks to be high availability networks?
    Because we need, as human and as a global economy, such networks that ar running 24/7/365.
  2. What is it that enables blockchain networks to have such high availability?
    The fact that it is decentralized and there are many participants to the network… and also incentives.
1 Like
#4276
  1. Why is it important for blockchain networks to be high availability networks

Blockchain network is a global network, users from diferent time zones in the world need to be able to access the network.

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

The fact everyone wants to make money enables the network to be availible at all the time.

1 Like
#4277

1.Having high availability allows transactions to take place at a higher rate, which allows more to be made and basically more money is made.
2. Blockchain runs 24/7/365 making it available all the time.

1 Like