Homework on High Availability - Questions

Blockchain and Bitcoin 101
#764

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

Because accessibility to availability is necessary and required for a trustless infrastructure to work properly and function efficiently

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

It is the foundation of the globalized Internet infrastructure and incentives that enables high availability of blockchain networks

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#765

1, because, when some portion of data dies, then the other parts can join and keep this data.
2 motivation to have coins from keeping the infrastructure by mining

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#766

Hello,
1) It is important for blockchain networks to have high availability in order to be considered true decentralized network reliability and transparency are key factors in the infrastructure of a blockchain network.
2) blockchain networks achieve high availability through incentivization/mining to keep the blockchain network available at all times to all parties involved in the blockchain network

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#767
  1. Because of security. The more computers in the network, the more secure it is, as well as the network being global meaning it needs to be accessible all the time.
  2. The financial incentives of the users.
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#768
  1. In the case of Bitcoin for ex, people want and require access to their money to be available 24/7. Similar can certainly be said for health data stored on blockchain, or supply chain data - it might be necessary to check provenance of an item on one side of the world as the other side sleeps. This is important so that shipment and trade can continue flowing smoothly without interruption.
  2. The network is distributed across the planet so geography-based network issues will not affect the network as a whole. Also, because miners are incentivized to profit, if difficulty goes down, more miners will now jump in, leading the network to never suffer a fatal collapse of number of miners, thus keeping it up and running continually.
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#769
  1. Why is it important for blockchain networks to be high availability networks?
    High availability networks are important because it adds more global and 24/7 availability. Along with this it adds security and trust with the more computers having access.
  2. What is it that enables blockchain networks to have such high availability?
    Financial incentives through mining and everybody loves making money
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#770
  1. Blockchain networks have to be high availability because they need to synchronize by their consensus rule algorithm. They have to all agree to the same transactions, so having more nodes is better because a new node will get a copy of ledger from the closest node; for speed. This actually helps the network availability. This is the same with miners, the more; the better!
  2. The block-reward (minting of new token) provides the monetary incentive to keep the network at such high availability.
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#771

1 The blockchains need to be strengthened by high use on a global scale, only achieved by availability.
If one part of the network goes down the balance of the continuity can be absorbed by the remaining intact portion of the network.

The incentive to make money provides support for multiple nodes to exist.Everyone who can supply nodes makes money this creates a vast network, the vastness creates availability.

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#772

1/ Its a globa network and it must be availible at all the time
2/ its a global network and if part of it dies there are others joining the network . there is no chance that it could colapse because there is always a copy somewhere.

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#773

  1. Why is it important for blockchain networks to be high availability networks?
    It is only important for a network to be high availability if you want it to be useful or valuable. Information has value, but only/primarily to the extent that it can be accessed. Example: if you have information on what will happen tomorrow, you can soon be the richest person in the world. If you have that information but don’t access it, no value is created as a result of that information.

  2. What is it that enables blockchain networks to have such high availability?
    Individual actors/nodes acting interdependently around the world, 24/7/365, acting in simultaneous self-interest and community interest through individual incentive.

#774

  1. A blockchain network needs to be high availability because it’s a 24/7 network and cant be shut down.

  2. The incentivation structure enables blockchain networks to have high availability

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#775

  1. It is important for blockchain networks to have high availability to incentivize connection and decentralization.

  2. The network being available at all times provides a stable global connection which enables the BC networks to have high availability.

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#776
  1. Because if there is high availability (24/7/365), there is high security.
  2. Because the more people use the blockchain, the more copies there will be and consequently the security will increase.
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#777

  1. High availability makes the network more reliable.

  2. Blockchain’s network allows it to be available from anywhere around the world. Financial incentives

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#778
  1. Because the needs of the user can happen anytime in particular for the use case of a currency. People will need to make transactions at all times of the day, everyday of the year so the network must be available to support that.
  2. Mining rewards incentivize people to keep their computers running network nodes to get rewards, so even if some systems shut off, there will be others appearing to replace them.
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#779
  1. Because the blockchain is absorbing information from around the world including the information related to Bitcoin it needs to be available all day, everyday.
  2. Proof of work miners are running all day everyday which makes the network available all the time.
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#780
  1. Because of their function they need to be active 24/7 to make payment to run Dapps and so on.
  2. Incentives are the key. Everyone is incentivized to maintain the network alive.
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#781

  1. Why is it important for blockchain networks to be high availability networks?
    Because in order to be a truly global form of currency, it needs to be available at all times.

  2. What is it that enables blockchain networks to have such high availability?
    The number of nodes who are mining and are incentivized to keep operating.

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#782
  1. Transactions can be performed around the clock which is beneficial in the long run
  2. Because of incentives from everyone in the blckchain
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#783
  1. Why is it important for blockchain networks to be high availability networks?
    It allows for a 24/7/365 infrastructure. Everybody who takes part in it is incentivized to keep the network alive.
  2. What is it that enables blockchain networks to have such high availability?
    Because all nodes share the same ledger. Nodes can come and go. Mining keeps the network running by producing blocks and paying the miner.
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