Homework on High Availability - Questions

Blockchain and Bitcoin 101
#723

  1. Why is it important for blockchain networks to be high availability networks?
    So that you can always access it, e.g. always pay or receive money.

  2. What is it that enables blockchain networks to have such high availability?
    It is the wish to earn money. The security is “generated” through mining. If many people stop mining, the difficulty goes down which entices other people to start mining.

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#724

1. Why is it important for blockchain networks to be high availability networks?
Because high availability is directly correlated with the security of the network - more participants, more availability thus more participants that need to come to consensus. Also, high availability is self-explanatory in 2020 when you need access to funds / information 24/7.

2. What is it that enables blockchain networks to have such high availability?
Mining and rewards system, if people leave the network, then difficulty will come down / rewards go up, thus more will join in again bringing availability / security back up.

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#726

1/ On an Blockchain networks the High availability is very important due to the fact that it is a market 24 hours - 7 days - 365 days open market with a huge demand and supply that secure the networks via mining , and peoples who are interested by this technology, it keep alive the networks too whenever a problem occur.

2/ Incentive people to keep the network alive, including mining who secure the network by new node (computers) come into the network,
and that people a interested to make money with a market who never sleep, shut down 24/24 alive !

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#727
  1. Blockchain networks need to be highly available to insure they are unstoppable
  2. Mining is the incentive enabling Blockchain networks to have a high availability
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#728
  1. Why is it important for blockchain networks to be high availability networks?
    People around the world are in different time zones. Imaging being able to only send money with a 10 minute window each day. People wouldn’t use that system. Bitcoin is 24/7/365 which means users are able to produce blocks and send transactions at anytime they would like.
  2. What is it that enables blockchain networks to have such high availability?
    The high availability comes from the incentive to mine in order to gain money. If you don’t mine, you won’t get paid.
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#729

1 - High availability is one of the unique selling points of blockchain. The only network that has been continuously up and running for such a long period of time. We want blockchain applications to be up 24/7/365 as we may need access to cash at any point, or we need access to supply chain info at any time as well.

2 - Blockchains achieves such high availability thanks to incentives that are rewarded to miners that secure the network.

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#730
  1. Why is it important for blockchain networks to be high availability networks?
    no one person control the network, someone is alway using it
  2. What is it that enables blockchain networks to have such high availability?
    someone is always using it, mining
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#731

  1. It is important because as a global network it needs to be available all the time for a simple reason of different time zones . If it wasn’t it would bf difficult to use in certain parts of the world or just certain times and that would lead to less adoption .

  2. Incentives keep the blockchain at a high availability. It balances itself out because if some miners stop mining it becomes easier to earn those incentives which draws more miners . This supply and demand keeps the balance and keeps availability high .

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#732

  1. A global network needs to be accessible 24/7/365

  2. Incentivisation enables blockchain networks to have such high availability.

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#733

  1. It is important for blockchain networks to be highly available because it relies on its network for security. Without being online then transactions and such cannot be verified.

  2. Because it is incetivised with Mining. When people mine it keeps the network alive and the people mining make profit off of it.

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#734

  1. Blockchain networks are used for applications that require high availability such as global money transfer and supply chain infrastructure. If the transfer of money went down, people couldn’t pay for stuff that they need such as food or medicine.

  2. What enables the high availability is the decentralized mining network that has an attached incentive mechanism. In result, of the incentive structure, if part of the network goes down or is being attacked, other network participants will help out because they will make more money if they do.

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#735

  1. Why is it important for blockchain networks to be high availability networks?
    Ensures that the network is safe

  2. What is it that enables blockchain networks to have such high availability?
    Mining and the opportunity to make money

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#736

  1. Blockchains are global systems/databases which don´t care who you are and where come from. To be globally accepted they need a high availability otherwise no one would use it. When you store value in a blockchain (not just data) a high availability is needed, because you want to have access to your value 24/7/365. This is by the way not the case for stocks, bank accounts etc…

  2. The high availability is achieved through (financial) incentives (for example mining). Everybody wants to make money, so people/companies participate in the network to get rewarded.

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#737

1 more reach and reliable service
2 the incentives

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#738

1
Typically a blockchain must add info in the blocks from all over the world, so must be up and running 24 hours 7 days a week all year long, as Bitcoin did.

2
The people setting up mining hardware have an important incentive: the reward of cryptocurrency. Its their interest maintaining their part of the network online, synchronized and working as much as possible.

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#739

  1. Why is it important for blockchain networks to be high availability networks?
    It is desirable for any network to have high availability, but particular in the case of blockchain as it is a a global network providing the foundations for applications such as finance.

  2. What is it that enables blockchain networks to have such high availability?
    The multiple decnetralised nodes which make up the network. These provide availability and security to the network through mining (in the case of bitcoin) as they are financially incentivised to do so.

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#740

Why is it important for blockchain networks to be high availability networks?
Anyone can access them and verify their immutability. When many miners are in the network then the security is high.

What is it that enables blockchain networks to have such high availability?
With it you have 24/7/365 infrastructure, therefore highly accessible.

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#741

  1. blockchain networks should function 24/7/365 and 366 in leap years, because they need to be always open and running, because they must be uncensurable, reliable and available to the whole world (and beyond) no matter what, because they should run ‘forever’, that is why they are a ‘timeline’ history, forever bound with the past ‘block-times’ making ‘past-history’ of all node transaction interactions chosen to be ‘solidified’ forever by the miners

  2. blockchain network’s have incentive’s that simply attract more and more nodes to join in and care for the good functions provided by that network and for the correct consensus rules to be enforced always; nodes want to be part to be able to earn the incentives (the miners) or to be able to use the blockchain in the several other ways they could; example explorer-nodes want to be able to provide searching services like ‘a blockchain google’, other nodes may want to just be able to receive (and validate as correct) themselves transactions by non-node clients (payment service processors), other just want to support ‘freedom’ and provide one more node to the network become even more ‘uncensurable’

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#742

  1. Blockchain networks need to be high availability networks because it provides incentive to keep the network always working 24/7/365.

  2. High availability is enabled by the constant flux of creating the incentive when mining difficulty becomes lower and leveling off incentive for mining when mining difficulty becomes higher.

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#743

  1. high availability is important because it runs continuously, without any interruption during 365 days a year. This allows many applications that need this sort of characteristic to exist.

  2. High availability is granted by the mining network which is incentivised in maintaining the network secured.

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