Why is it important for blockchain networks to be high availability networks?
to prevent failures by having networks readily available if one network fails or goes offline there will automatically be a back up network to pick up where the 1st network stopped.
What is it that enables blockchain networks to have such high availability?
mining
Since one of the most important feature is transparency, meaning that it must be accessible to everyone, an higher availability will enforce this characteristic.
Basically is the financial incentive that miners can gain providing their work.
It is important for blockchain networks to be high availability networks because of the global financial system. it is what keeps everyone incentivized.
The incentives because everyone wants money.
It is important for blockchain networks to be highly available to provide global access all the time.
Incentives to make money by a process called mining.
Why is it important for blockchain networks to be high availability networks?
The need for transaction confirmations 24/7/365 on a global financial system and consistency for all other applications as well, not just cryptocurrency.
What is it that enables blockchain networks to have such high availability?
Mining. Network computers are incentivized to help keep it up and running.
Why is it important for blockchain networks to be high availability networks?
To be efficient , it needs to be available all the time. If there is a problem or power outage there can still be parts of the network still working to keep the network on and available.
What is it that enables blockchain networks to have such high availability?
mining incentives and size of the networks assures more pieces of the network will fill in when some are out not available.
it is important for blockchain networks to be high availability networks, because 24/7/365 network enables everyone to make money regardless of time, location, religion, background. this is also important for application such as global financial system.
miners/nodes get incentivized to keep blockchain network running
Q1.Why is it important for blockchain networks to be high networks?
A1. Major blockchain networks works global, and the people need acces to anytime.
Q2.What is it that enables blockchain networks to have such high availability?
Q2. Proof of Work (Mining) or Proof of Stake (Staking) enables the blockchain networks a very high level of availability and security, best example: Bitcion 24/7 acces and proof of Work (Mining)
In order to be able to transfer information or value at any time and also in order to provide security and consensus (as without high availability it will not be possible).
Incentives for mining.
The presence of the computational power by miners makes the blockchain network availability possible. High availability – miners all around the world are needed because money does not sleep. The more miners there are the more available the network becomes and the more secure the network becomes by heightened level of consensus and reliability.
The miners are financially rewarded. As long as people will be interested to earn money there will be miners to make the blockchain network available.
Keeping the network available 24/7 makes it very convenient for the users of the network, since their transactions do not have to be timeboxed. This also helps with the distribution of the network load, since there will be no “working hours” where all transactions have to be carried out. It also ensures security, since the network does not rely on individual nodes to keep running to continue verifying it’s state.
The enabling factor of high availability in blockchains are (usually) the monetary incentives of the node maintainers. In Bitcoin these are called miners.
Blockchain networks have high availability, so that they are available 24/7/365, regardless of any technical issues across the network.
Blockchain networks are able to be highly available due the incentives for everyone across the network to continue mining, and making money.