Homework on High Availability - Questions

Blockchain and Bitcoin 101
#784

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

When dealing with a security and/or monetary network(Blockchain), it must be functioning and available 24/7 365.

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

Blockchain networks have extremely high availability due to the incentivized nature. It allows the network to be operating at all times.

1 Like
#785

1: Being a 24/7/365 network, entries are confirmed quickly without concerns of downtime or delays due to weekends or holidays.

2: The decentralized network and incentives offered to miners ensure the exceedingly high availability.

1 Like
#786
  1. Why is it important for blockchain networks to be high availability networks?
    High availability ensures security and builds trust.
  2. What is it that enables blockchain networks to have such high availability?
    Incentives for miners, everyone wants to make money.
1 Like
#787
  1. Why is it important for blockchain networks to be high availability networks?

The hope of a decentralized monetary system is that one will be able to use their currency anywhere in the world at anytime of the day or night. The unification of the world via the internet has made 24 hour availability essential. This is important for a blockchain network and BitCoin has proved to be up-and-running without interruption since inception: the longest running database of all time!

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

The concept of ‘incentivization’ (sp? …this is kind of a made-up word! - lol) is built into the blockchain and this is what enables the high availability of the network. If for some reason certain systems on the network go down or turn off, the remaining running systems have an incentive to continue to mine, or take up the slack of any weaknesses of the system because they stand to gain more coin. It’s almost as if the system has the ability to heal itself.

1 Like
#788
  1. Is global and Needs to be available for everyone to use
  2. Incentives that come from mining.
1 Like
#789

  1. Its important to stay connected to the market 24/7 365 days a year.

  2. Miners:through incentives or block rewards given to miners.

1 Like
#790
  1. Why is it important for blockchain networks to be high availability networks?

It is important for the blockchain network to be a high availability network in order to guarantee security in case of partial blackouts, hardware/software malfunctions, etc.; the system can continue with other participants at any moment and not only on business hours.

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

Common incentives for the minors is what enables the blockchain network to have such a high availability.

1 Like
#791

  1. Since they need to have the ability to verify continuously, in order to transact, confirm information etc… Almost like an unchanging book that everyone can pick up off the shelf anywhere and anytime.

  2. incentives through mining, as it will become profitable for miners to keep computing meaning there is a collective effort to keep the network working at all times.

1 Like
#792
  1. It is important for blockchain networks to be high availability networks so they never go down.
  2. All individual nodes all over the world allow blockchain networks, specifically bitcoin, to have such high availability.
#793
  1. Why is it important for blockchain networks to be high availability networks?
  • Because these are used for global uses and needs to be accessible all the time.
  1. What is it that enables blockchain networks to have such high availability?
  • The incentives which the miners get, gets them to be on the network and therefore enables blockchain to be highly available.
1 Like
#794
  1. Its important because everyone is insentivised to make money on the global market!
  2. everbody wants to keep it alive because of financial insenitives!
1 Like
#795

  1. The protocol allows you to make transactions anytime. The importance is if you want to send bitcoin at 2 am to a friend you are able to do so and no centralized entity can keep you from doing so.

  2. It is the incentivized network of miners that achieve this goal.

1 Like
#796
  1. High availability is important because when it comes to humanity’s economical history trade never sleeps, the sun always shines some where on earth.
  2. Blockchains provide high availability through incentive based methods PoW (Proof of work) and PoS(Proof of stake).
1 Like
#797

  1. Because these are global networks that must run 24/7 in order to meet the demand for usage around the clock.

  2. Incentives to provide security to the blockchain network. Mining enables blocks to be validated and there are built in incentives or block rewards to continue thus process indefintely.

1 Like
#798
  1. So the network can complete transactions always in reasonable time.
  2. Distributive nature of the network.
1 Like
#799

1.It is important because without high availability, it won’t be trusted and it is sign of vulnerability.
If the network is not highly available then the incentives to keep it available will also be low and there is also less parties who want to keep it running.

  1. To keep the network highly available, miners are given financial incentives to keep the network secure and available.
#800

  1. High availability allows greater access, more reliability and security.

  2. Incentives through mining means more participation. When a portion of the network dies, other computers will join right away. Keeping a solid infrastructure.

1 Like
#801

  1. Why is it important for blockchain networks to be high availability networks?
    Higher security and easier access for everyone since the demand is global.

  2. What is it that enables blockchain networks to have such high availability?
    Financial incentive. The system automatically increases or decreases mining difficulty based on how many miners there are.

1 Like
#802

  1. It’s one of the main unique selling points of blockchain networks over not-blockchain networks. It ensures the security of the network and a possibility of working on it 24/7/365.

  2. Decentralization. If part of the network is done, it would be immediately replaced by other of the computers. The whole network can’t be down at the same time due it’s nature.

1 Like
#803

1: 100% uptime is needed to make the network function.
2: Incentitives to make money

1 Like