- To be accessible at any time.
- Making money.
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I think it is important for a network to have a high availability for a major reason; you can interact with the network at any time, and it doesnât matter where you are from.
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Since it is decentralised, only one computer is needed to run the network (theoretically) and it doesnât need to be shut down.
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You would have to be able to verify and audit the transactions anytime.
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The miners are incentivized to make money. When there are less miners, the mining becomes less difficult so others will start mining.
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- to be always avaliable?
- miners that are supporting the avaliability
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if the network was not online 24/7 you can not make payments when itâs offline.
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the miners. there is no single institution controlling the network but instead many different individuals who keep the network up and running. if one drops out he will be replaced by someone new.
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It is important for blockchain networks to be high availability networks so that they are internationally dependable as a foundation for infrastructure.
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The thing that enables blockchain networks to have such a high availability is financial incentives.
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Why is it important for blockchain networks to be high availability networks?
Answer: Because Blockchain is a global network, it never goes down. It is a 24/7 366 days network of nodes. -
What is it that enables blockchain networks to have such high availability?
Answer: There are incentives to keep them on and running, they enjoy high availability all over the world. Even when systems on Blockchains go down, others comes online immediately.
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- For all users to have access to it 365 24/7
- Miners and Incentives $$$
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- It allows the whole world to participate since the blockchain is running 24/7/365. Doesnât matter where you are or what time it is. Giving the people to connect globally with out a middle man.
- Incentivizing miners to keep the blockchain up at all times and when miners leave the difficulty will go down so new miners will want to join.
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- Why is it important for blockchain networks to be high availability networks?
Itâs important for the global financial systems and all the different things that can be built on top of blockchain. That fact that the networks are 24/7/365 means that they are never offline thus highly accessible when you need them to be.
- What is it that enables blockchain networks to have such high availability?
Two factors, the first being that the networks are 24/7/365; the second being incentives. Simply put, the networks are able to maintain high availability 24/7 due to miners who are incentivized to help protect and keep the network running.
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- they need to be able to operate 24/7/365 to offer everybody the incentive to earn money with no downtime.
- miners run the network and they are incentivised by the price of btc. If the difficulty of mining becomes to high, some close down. After some time, the difficulty is adjusted so that mining becomes less difficult and more miners turn on their machines to start earning.The more miners on the network, the higher the hashrate and the more secure the network for the bitoin blockchain.
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It is important that blockchain network are high availability networks so that the whole system runs 24/7 365 days a year without interruption.
This is enabled by the incentivised miners who earn money by keeping their mining rigs running all the time. All over the world miners are operating and keeping the network going.
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Homework on High Availability - Questions
- Why is it important for blockchain networks to be high availability networks?
A: different timezones can have a huge part and being available at anytime in any situation - What is it that enables blockchain networks to have such high availability?
B: The incentive to maintain the network is in the rewards of the proof of work
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- This is one of its core features. If the network is unaccessible it becomes untrustworthy and unsecure.
- Incentives
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Why is it important for blockchain networks to be high availability networks?
You want to use Biicoin, LiteCoin or Ethereum, etc for their various applications, yes? In order for that to happen, these need to be up and running 24/7/365. 11AM EST in the US is not 11AM in New Zealand. -
What is it that enables blockchain networks to have such high availability?
At its heart it is hundreds, if not thousands of nodes spread out cross the globe make this possible. If one section of nodes go down, others are able to carry on the blockchain. What enables these nodes to continue to come online are incentives (mining).
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High availability = high usability, for any financial transaction.
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Properly incentivized mining and p.o.s. mechanisms.
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- Why is it important for blockchain networks to be high availability networks?
Itâs important for reliability and usability. - What is it that enables blockchain networks to have such high availability?
a huge amount of blockchain nodes
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If we want blockchain networks to become the global way of doing things and we build on top of them we must be pretty certain they are highly available (basically no way of them becoming unavailable)
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People are motivated to mine for a reward and therefore driving the security higher which on its own makes the network protected and available.
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- Why is it important for blockchain networks to be high availability networks?
Is it important for a blockchain network to have a high availability in order to be accessible for everyone at every single moment. Therefore it ensures trust, reliability and security.
- What is it that enables blockchain networks to have such high availability?
Incentives
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1- Because they are global and we need to use 24/7. It also increases the security.
2- Incentives
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