Homework on High Availability - Questions

Blockchain and Bitcoin 101
#884

  1. In Bitcoin’s case it’s important because money / value transfer is something that people always want to do, and with a global world and Internet, there’s always someone awake that want to use the network.

  2. In Bitcoin’s case, you’re incentivized to mine Bitcoin because it makes you money and since everyone wants money, there will always be someone mining and have the network running.

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#885

  1. Always open makes global network practical.

  2. High security mining, that protects the network.

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#886
  1. The blockhain network is running 24/7 and 365 days a year. This high availability is important for performing financial transactions whenever and wherever globally and also for building applications on top of the blockchain network.
    2.The fact that there are financial incentives for keeping the network running. Everyone wants to make money and this is done through the process of mining. Mining also keeps the network secure and in case that some parts of the network stop working others become activated and take their place immediately thus again increasing the level of security through mining.
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#887

  1. It is important for blockchain networks to be high availability networks because they are open 24/7/365 which is good for use cases that require 24 hour running systems.

  2. The blockchain network has constant availability because people get paid to keep it going through mining. If people quit mining it would get easier and other people would “squeeze the low hanging fruit”.

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#888

  1. Because high availability creates trust. We do not like bank holidays popping up unannounced.

  2. The rewards people get to keep their computers running day and night

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#889

1 it’s more secure if it is more available
2 miners al lot of entities in the network

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#890
  1. So the network is global & functioning 24-7-365.
  2. Incentives help to keep the network have such high availabilties
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#891

  1. It allows all applications on the network to be up and running. Open for business 24/7/365. Financial / Commerce etc.

  2. By incentivising the miners/nodes that power the network.

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#892

High Availability

    1. It is always able to make money and that’s what everyone is in it for.
    1. There are so many computers and if one goes down it can be easily replaced – it’s not dependent on any one member
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#893

  1. This way everybody can use the network at any time, making it global and efficient to use.

  2. Incentives to always keep it secure and running.

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#894
  1. We want to use it all the time , so blockchain network is online 24/7/365
  2. If one part of the network has a problem and go offline , always in their place cames other computers /miners so the sistem remains with higy availability and security .
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#895

1 for security
2 incentives - mining - global 24/07/365

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#896

So can be accessed 24/7 365 a year and be trusted by the community

In the proof of work protocol used by bitcoin is the mining , that works as incentive to keep the network running all the time , by, thanks to his protocol, adjust the difficulty every time there is the necessity to keep the mining to continue.

in general and not talking specifically about bitcoin there is high availability cause the people are incentivized to keep the network running (many reasons including mining rewards , staking rewards etc)

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#897

  1. Bitcoin does not sleep. Miners constantly want to make money through incentized rewards by solving the difficult level of mining.

  2. The higher the miners, the higher the difficult level, the higher the security. The lower the difficult, the more miners join for profits.

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#898

Why is it important for blockchain networks to be high availability networks?
Because it’s a system that could be host for any kind of service that requieres high availability, plus it’s a guarantee of transactions record

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

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#899

  1. For security.

  2. Mining/Incentives

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#900

  1. The high availability of blockchain networks is important for companies that have use cases where they need to be on 24/7 365 days of the year like hospitals, shipping, or transportation.

  2. The financial incentive for “miners” to be on the network at all times especially when “mining is easier” enable the blockchain networks to have such high availability.

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#901

1.-
Is that availability one of the key things that make this kind of protocol valuable. The network availability and its trustfulness at any moment.

2.-
Being distributed all over the world and, through incentives of money, be kept available by the nodes of the network.

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#902
  1. To allow blockchain to operate 24/7 365 days a year.
  2. Incentives to keep it running.
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#903
  1. So that I never run out of beer. Never rely on the ATM machine.
  2. Somewhere in the world, every minute of every day, someone is pouring a beer (and mining crypto).
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