1.For blockchain to really make a difference and change on our current system,it is vital that its availability has to be 24/7 365 days
Because 24/7/365 makes it possible to use the network globally and makes it more secure.
People wanting to make money.
1 - Because of the importance of the information contained. To increase the level of trust in the concept of BC. To proof that nobody can control or take down the database even if they would try very hard.
2 - The fact that the application runs on many different computers. These computers are being incentivized to have the BC run and they create this high level of security by participating in the network.
Because it keeps a market open 24 hours a day 365 days a year meaning no matter where you live in whatever timezone you can still transact no matter what the emergency.
Incentives allow the blockchain to be open 24/7 365b days. At the end of the day everyone wants to make money and therefore the incentives help to maintain that blockchain as people get paid for contributing to the maintenance of the blockchain.
High availability increases security. It facilitates other computers joining the network in case e.g. a part of the network is not functioning properly anymore.
High availability stems from the fact that the network is always open. Everybody is incentivized to profit.
1- Becuase it guarantees the permanent existence of enough computers in the network to run it all year round 24-7.
2- Incentives… everybody wants to make money.
1. Why is it important for blockchain networks to be high availability networks?
As the network is accessed by parties across the globe, regardless of timezones, accessibility becomes key and so is high availability.
2. What is it that enables blockchain networks to have such high availability?
The decentralized nature of the network allows more nodes to join if there are issues with parts of the network.
So, a failover happens from the failed nodes to the new nodes that join the network.
1. Why is it important for blockchain networks to be high availability networks?
The main purpose of high availability is to eliminate potential points of failures in an IT infrastructure.
2. What is it that enables blockchain networks to have such high availability?
The main reason is the financial incentive.
Answers
Blockchain is the highest availability network in the world. It is very important because in this digital era a lot of sectors must be “online” 365/7/24. Try to think of the machine to machine economy…
Decentralize network ensure high availability. The node into the network are stimulated thanks to economic incentives. Nobody in this world, even machines, works just for passion…
It is important for blockchain networks to be high availability because it underpins the reliability of the network and the ease of adoption moving forward.
Mining and the rewards associated with it is what enables blockchain networks to have high availability. People are incentivized to go into mining globally, which expands and strengthens the network.
Why is it important for blockchain networks to be high availability networks?
if the network is not high availability then it would be worthless. if it is a global network it needs to be reliable 247
What is it that enables blockchain networks to have such high availability?
financial incentives and incentives to keep the network running.
1] Without 24/7/365 uptime blockchain networks would not be trustless, real-time networks. Consensus could not be established
2] Mining protects the network through incentivisation