Homework on High Availability - Questions

Blockchain and Bitcoin 101
#683

  1. the blockchain network must be highly available in order to be useable by the masses at all times

  2. The network is so highly available because miners are incentivized to mine which keeps the blockchain running

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#684
  1. Why is it important for blockchain networks to be high availability networks?

It is a global database meaning it needs to run 24/7/365 to keep the security on a high level. Verification from miners needs to be able to verify information from anywhere, anytime because BC is decentralized.

  1. What is it that enables blockchain networks to have such high availability?

Cause of the financial incentives rewarding system

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#685

Mainly because miners are incentivized to make money and will keep producing blocks with transanctions while securing the network.

#686

1 time is enough. did you do the course 3 times over? :grin:

#687

  1. Why is it important for blockchain networks to be high availability networks?
    Because with for instance Bitcoin, you can not have a lagging response if you are to be considered a serious payment network. So goes for other blockchain solutions also - like supply chain management - you need 24/7 access to make your business able to run

  2. What is it that enables blockchain networks to have such high availability?
    There is no single point of failure

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#688

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Because everyone is insentience to keep it running to earn money and secure the network.

  2. What is it that enables blockchain networks to have such high availability?
    Decentralizemend of the Network and the ledger, difficulty adjustments.

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#689

  1. High availability wards off vulnerability to attack or data loss by incentivizing computational power on the network, which maintains security through global consensus.

  2. Nodes are dispersed on a global level, and mining operations are incentivized with financial reward to continuously seek consensus.

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#690

Why is it important for blockchain networks to be high availability networks?

Because a lot of money goes around in these systems.
Because a lot of miners depend on the income created thru mining.
Because in the future more and more entrepeneurs and businesses must be able to rely on the availability of the network.

What is it that enables blockchain networks to have such high availability?

The miners make sure that blocks are created.

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#691

1.By being a high availability network (24/7/365), it is of high usability/value and thus suitable for various uses and users.
2. Everyone is incentivized to keep it running- mining- because they want to make money (and perhaps want to see the changes in society this technology has the potential to create). If part of the network stop to mine, the incentives are even higher for the one remaining in the network.

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#692

To provide security of the network. If one node decides they don’t want to be a part of the network anymore another will step to fill the gap in the security of the network.

Having miners secure the network by authenticating transactions and coming to a consensus with the other nodes connected that take place within the blockchain to provide a financial reward.

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#693

  1. Why is it important for blockchain networks to be high availability networks?
    Blockchain is used as a value verification protocol and therefore needs to be highly available to validate transactions in ever working world.

  2. What is it that enables blockchain networks to have such high availability?
    Miners are incentivised to mine and earn rewards for doing so, thereby fundamentally protecting and ensuring the high availability of the blockchain network.

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#694
  1. Why is it important for blockchain networks to be high availability networks?
    Because they are used 24/7 365 globally.
  2. What is it that enables blockchain networks to have such high availability?
    The financial incentives for miners to keep the network running 24/7 365
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#695

  1. Because global transaction occur 24/7 365 day a year.

  2. High availability is contributed to the mining.

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#696

  1. The availability is the reason to use the blockchain. It’s one of the essential features of it. Together with decentralization and trustlessness it’s availability that makes blockchain work to be used.

  2. It’s the incentives in form of making money with mining.

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#697

  1. Why is it important for blockchain networks to be high availability networks?
    The higher the availability the more secure the network is for people to use

  2. What is it that enables blockchain networks to have such high availability?
    incentives, such as money or block rewards that are adjusted as the number of miners decrease or increase

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#698

A:

  1. High availability is a requirement to secure the network.

  2. Financial incentives.

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#699

Because she provides 24/7 operation. If one network ceases to operate, the other continues to operate and ensure proper ledger execution.
2.
system is stimulated to work non-stop, for which it is remunerated.

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#700

Q1. Why is it important for blockchain networks to be high availability networks?
A1. The network is a 24/7 network. Because of this, it requires high availability, with miners running 24 hours a day, 7 days a week and 365/366 days a year to secure the network and have it accessible to all, at all times.

Q2. What is it that enables blockchain networks to be high availability networks?
A2. Mining and it’s reward go towards making it high availability. That and it is a global 24/7 network.

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#701

1 in some cases continuity of processes can be very important. In that case blockchain networks can be considered
2 the decentralized approach of blockchain networks creates incentives for miners. Miners take care of the state of the blockchain and are incentivezed to do so. Difficulty of mining adjusts in order to keep miners motivated for mining.

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#702

High availability, 24/7/365 creates a strong global infrastructure and incentivizes people to keep it alive.

What is it that enables blockchain networks to have such high availability?
The global infrastructure and mining 24/7/365 enables the blockchain networks to keep High Availability. People want to make money.

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