Homework on High Availability - Questions

Blockchain and Bitcoin 101
#623

  1. It is important for the blockchain because it needs to be ready to use and it should be easy to use as well.

  2. The financial incentives it’s a great motivator for the mining industry.

1 Like
#624

  1. Reliability for mission critical applications

  2. Incentives for miners

1 Like
#625
  1. The high availability of the many participants of the network keeps the system alive and makes it secure. So the participants protect their network.
  2. It is the high amounts of participants that get rewarded vor keeping the system alive by mining.
1 Like
#626

  1. It allows the network to remain secure.

  2. The decentralised nature of blockchain networks enables them to have high availability.

#627

  1. for seurity reason and beacuse it is world wide 24/7/365

  2. incentices

1 Like
#628
  1. Why is it important for blockchain networks to be high availability networks?
  • As blockchains can be used in every sector around the world they need to be 24/7/365. As the most efficient future technology it is critical that access to the network is available at any given moment; for verification, validation, development and implementation.
  1. What is it that enables blockchain networks to have such high availability?
  • As long as the internet is switched on, there is an incentive for blockchain networks to be operating. Ie. Mining, staking.
1 Like
#629
  1. The blockchain network needs to keep operating and functioning. This maintains the network stable and trustworthy.
  2. Incentives for miners.
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#630

1.) Blockchain networks need to be highly available in order to provide a reliable network for its function, especially when it comes to financial services. If Bitcoin is to be a global payment network, people will only use it if every time they attempt to send or receive money it actually works.

2.) Blockchain networks are highly available because of miner incentives. Miners are financially rewarded for maintain the network availability and security.

1 Like
#631

1 Since we are part of a global community, it is important for the blockchain to be available 24/7/365 to maintain the highest levels of efficiency and praticality in processing transactions worldwide.
2 The high availability of the blockchain network is enabled via its 24/7/365 available infrastruture since everyone is incentivized globally to keep it going continuously.

1 Like
#632

it is running 24/7/365.25

everyone wants to make money

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#633

  1. Because you can acces it all the time 24/7/365. A global network needs availability.

  2. Because it is a global network with incentives. Everyone wants to make money.

1 Like
#634

  1. Because you need transactions to be validated and processed, especially when the transfer of value is involved.

  2. Miners are incentivized to profit by protecting the network.

1 Like
#635

  1. Why is it important for blockchain networks to be high availability networks?
    For security reasons. As more nodes are participating in the networkd, more secure (and available) it becomes.

  2. What is it that enables blockchain networks to have such high availability?
    The number of nodes participating in the network, driven by the incentives of the network itself.

1 Like
#636

  1. Because only HA networks can be the basis for critical use cases, e.g. financial. A network, that is not available, is of no use for a lot of cases.

  2. There are (financial) incentives to keep a network node running. This ensures, there are enough participants in the network (mining)

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#637

Most importantly, the miners who like to make money secure this network

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#638

#1. To be able to serve our world population, it needs to have a high availability 24/7 365 days/year, every year!
#2. Incentives, even if l DON´T agree about everyone want to earn money, l more believe it´s a question about a MUST today :wink: , because without money today, it´s really a hard task to just survive

#639

  1. Why is it important for blockchain networks to be high availability networks? It is important for block chain networks to be high availability because They are global networks with people around the world needing to access them at different times

  2. What is it that enables blockchain networks to have such high availability?
    Block chains have such high availability because because of the constant financial Incentives.

#640
  • Why is it important for blockchain networks to be high availability networks?
    Because users need to have access to it at any time and have the assurance they will, this is what makes it unique.
  • What is it that enables blockchain networks to have such high availability? the incentives / rewards that miners receive , more miners = more security
1 Like
#641

  1. Because if the financial system is global & unified (global) currency then it has to run 24/7.

  2. Mining

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#642

1 . Because it needs to be available globally 24/7/365 and needs to be secure at all times, otherwise it cannot be trusted as being reliable.
2, If the network goes down for any reason, mining difficulty decreases, incentivising more miners to join the network.

1 Like