Homework on High Availability - Questions

Blockchain and Bitcoin 101
#663

1 24/7/365 enable the product to be available at the right place at right time globaly
2 The incentives motivate the miners and the participation rates ensure high availability

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#664

Ok. Thanks for the feedback.

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#665

Hi,
1, Its not for USA only or EU only… Its for all. All over the world. Also it means i can do whatever i want any time, anywhere ( if i have internet connection)
2, Because its not central based but its depended on people who use/work on the blockchain (people running nodes or miners). And these people make money by being online/active…

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#666

High availability due to it being global 24/7/365
and if some nodes that have copies of the ledger go out others will pick up due to the difficulty of mining being adjusted

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#667
  1. Why is it important for blockchain networks to be high availability networks?
  2. What is it that enables blockchain networks to have such high availability?

1 it is essential for valies transitzone to be up and running
2 it’s not on one p place location or computer it’s a complete netwerk

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#668

  1. As not only a financial system, but a constantly updated secure network, needs to have an uptime of as close to 24/7/365 as possible.

  2. People who use the network, not just as a financial incentive (as reduced difficulty will incentivise more people to connect to the network) but also there are some who just wish to support the network at the same time (regardless of payment; ie. running nodes).

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#669

  1. Why is it important for blockchain networks to be high availability networks?
    Due to it’s global use-case, it is important that the network is available 24/7/365. Companies, but mainly financial services (through transactions) are depending on its high up-time. In the example of banking this is an advantage over traditional banking, where e.g. a website can be down.

  2. What is it that enables blockchain networks to have such high availability?
    The miners are incentivized. So if they are not playing by the rules while mining, they are loosing money. Moreover the more people mine the more secure (higher hashrate) will be the network.

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#670

  1. High availability within blockchain ensures that the blockchain is always accessible. In order to achieve high security and verifiable consensus, all nodes must be available 24/7/365.

  2. Decentralization and incentivization ensures high availability since even if a few nodes are experiencing issues, many more nodes will be accessible across the network. These nodes are online so often because of the incentivization built into the protocol.

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#671
  • so transactions will be posted to the ledger real time and be completely secure and transactional
  • the incentives of mining and compensation enable the network to persist throughout time 24/7/365
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#672

  1. It is important because it will incentivize profit which is very important for
    a global financial system.

  2. High availability is enabled due to a 24hour, 7 day, 52 week
    infrastructure that is incentivized to keep it alive and nonstop running.

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#673

  1. Because they are Global and the Network is the most reliable in the world

  2. High Availability is achieved by being open 24/7/365 Globally

#674

1)its important because its one of its values 24/7/365 also provide security if miners stop mining the security can be affected.
2) by incentives to keep it alive. At the end of the day its all about money

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#675

  1. It is important for blockchain networks to be high availability networks because it
    allows all participants the incentive to make money. The incentive creates an
    environment were if a set of networks fall off, there is opportunity for other
    networks to join.

  2. The opportunity for any participant to generate value is what enables the
    blockchain networks to have such high availabilty.

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#676

  1. Why is it important for blockchain networks to be high availability networks?
    because it has demonstrated reliability being the longest running program and has been accessible world wide for the last 11 years 24/7.

  2. What is it that enables blockchain networks to have such high availability?
    blockchain technology gives the citizens of the world opportunity to improve themselves financially and intellectually.

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#677

1- Since blockchain networks are decentralized communities they benefit from having high number of nodes interconnected. It increases security from external or internal attacks, and is less prone to error. So the more people can access it with ease the better.

2- In order to keep the network available all the time 24/7, participants receive economic incentives, so people wants to participate in order to increase security. The fact that its build on the internet (though as a protocol can communicate by other means) also gives it high availability value.

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#678

  1. It is important for blockchain networks to provide data to people over over a long period of time from a plethora of devices or channels. Trust in the blockchain and network can be scaled to a number of mission-critical applications, much like the creativity branching off from an immutable code.

  2. Blockchain networks achieve high availability when miners and/ or nodes verify transactions in a consistent manner over time. By producing something people want (Bitcoins exchangeable to altcoins/ fiat) they achieve high availability. Like Ivan said, every (organization) wants to make money. The ease by which one can make money is offset by the block difficulty.

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#679

  1. Why is it important for blockchain networks to be high availability networks?
    Smart Contracts are a good example of providing utility thus must be available.
    Miners make their money based on work performed, so big incentive.

  2. What is it that enables blockchain networks to have such high availability?
    Decentralized db’s

#680

  1. Why is it important for blockchain networks to be high availability networks?
    24/7 constant availability for traders, miners, and use of Smart Contracts.

  2. What is it that enables blockchain networks to have such high availability?
    Their are over 3 million decentralized db’s around the world which makes them indestructible.

#681

I have answered this 3 times now. Why does it keep sending me back to same questions.

#682
  1. Why is it important for blockchain networks to be high availability networks?
    24/7/365 to keep a global network based on insentives= mining= network security.

What is it that enables blockchain networks to have such high availability?
Based on insentives ( Bitcoin) for mining= Added CPU to system= High Security.

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