- For security reasons?
- Money incentives ultimately.
As blockchain is a distributed ledger, every Node on the the blockchain network will have shared a verified copy of the latest ledger and if there are points of failure in the system other nodes will take over and continue without slowing down or loss of data/transaction and continue being 24/7/365 days system. In fact when networks are down difficulty levels drop and new nodes benefit from lower difficulty as incentive of rewards for proof of work.
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Because it incentivizes usage, by granting that data is in a constant state of growth and constantly available.
The network runs on the internet, as long as the internet does not shut down at a global scale, the constant availability of the network is inherently built in. Also, the network needs to be 24/7 running in order to obtain block rewards. If you fall asleep, the current takes you away!
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Because it must be available 24/7/365.
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If a network dies other computers will join the network.
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1. Why is it important for blockchain networks to be high availability network?
Bitcoin network is running and available 24/7/365. Literally never been offline.
Not like the stock markets or banks. No holidays, no restrictions, no shutdowns, no exclusions from the system. You can do transaction any time to anyone who has and address the receive it. -
2. What is it that enables blockchain networks to have such high availability?
Users of the network, particularly miners, are highly incentivized to keep the network running at all times.
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Why is it important for blockchain networks to be high availability networks?
- Because of the security. the more nodes the higher security
What is it that enables blockchain networks to have such high availability?
2. Incentives
- Availability is 24/7/365 which means it never goes “down”/stops = Building trust in the network.
- Decentralized, anyone can join in and start mining and earning money (incentivized). When the number of miners go down, mining difficulty drops = more profit
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- Ensure the reliability and practicality of using the network for transitions
- Incentive structure. If availability decreases mining difficulty decreases and more people will start mining again for the reward.
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- Why is it important for blockchain networks to be high availability networks?
It allows the the network to continue to run 24/7/365 and with that has a global infrastructure with consensus of the network and with it running like that, i feel it adds security and reliability to the network.
- What is it that enables blockchain networks to have such high availability?
Because it incentives are there to keep people and the network going, to simplify it. its supply and demand imo, to keep the network strong and secure through mining.
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- Why is it important for blockchain networks to be high availability networks?
Availability is important globally different timezones require 24/7 access. - What is it that enables blockchain networks to have such high availability?
Mining enables blockchain networks to have such high availability.
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1.to allow business to have surety of 247365 availability of system utilisation for domestic and global trade.
- You have redundancy of high availability infrastructure that will be incentivised to be available.
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1.Because is a global system that can be use at any time.
2…Incentives, mining.
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Because it allows the network to have a strong level of security without being centralised.
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The mining through Incentives, so if one portion of the network dies, immediately other computers will join the Network
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Why is it important for blockchain networks to be high availability networks?
- to keep the networks alive. people need the blockchain to be continuously available globally, especially for critical applications such as financial transactions, or other mission critical applications.
What is it that enables blockchain networks to have such high availability?
2. Financial reward.
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Why is it important for blockchain networks to be high availability networks?
Because they need to “stay alive”. They are a global network and must function at all times. -
What is it that enables blockchain networks to have such high availability?
They are incentivized to do so.
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1 - It is highly important for blockchain to be highly available as it is absolutely necessary in order to maintain a network of exchange. If availability of the network breaks down the whole concept of blockchain is compromised.
2 - Incentives from mining and the incentive of maintaining the value of all current coins is existence is the mechanism that allows the blockchain network to have such high availability.
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Transactions are expected to take place as soon as possible. Other transactions may rely on these.
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Interconnected network of thousands of computers running a simple program 24/7/365 with monetary incentive to be available at all times.
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Why is it important for blockchain networks to be high availability networks?
Because a secure global infrastructure for money is essential. The high availability allows for greater security, meaning that the network stays secure regardless of particular geographical disruptions. -
What is it that enables blockchain networks to have such high availability?
A global network of incentivized mining rewards those who contribute to the credibility of the ledger, and disincentivizes those who cheat.
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It is important for networks to be highly available because it is global and different countries have different time scales. Also high availability gives miners 24/7 to mine and make money.
Blockchain network has high availability because of the rewards given to miners to keep them incentivised.
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Why is it important for blockchain networks to be high availability networks?
For applications to run smoothly it needs to be available 24/7/365. -
What is it that enables blockchain networks to have such high availability?
The miners/nodes guarantee that the networks is continuously running.
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