1/ The higher the availability, that better the security of the network.
2/ The financial incentive from securing the network is what pushes higher availability
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Because the blockchain needs to stay alive in order to add new information. If there are no miners, then the blockchain can’t function. In terms of bitcoin, high availability is important because it is a financial system. Just like a bank or other financial institution, people expect/demand high availability and bitcoin has historically provided this way more than a typical institution even really can.
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The fact that mining difficulty fluctuates based on the hash rate ensures that when some miners leave the network, new ones will enter the space due to the financial incentive. Since the network is decentralized, it is really always available as long as there are at least a few miners.
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- It is open 24/7, 365 days a year and transactions can be completed anywhere, anytime on a global scale.
- If a portion of the Blockchain were to die, miners are incentivised to keep it alive as this is were they earn there financial reward.
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- Highly important for global financial & industrial systems to be available 24/7.
- If there is a problem on the network due to power outage or s/w problems the difficulty drops but the network security remains high due to other/new computers/miners joining the network for profits.
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Why is it important for blockchain networks to be high availability networks?
High availability allows for more nodes to be part of the network, which gives the consensus more value and makes the network more reliable. -
What is it that enables blockchain networks to have such high availability?
The network is active 24/7 and Incentive via financial reward assures that more than enough nodes exist to sustain the network perpetually.
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1- Users of public blockchains reside all over the world, high availability is important for functionality and for legitimizing the individual blockchain and thus aiding the growth in its use by the public. Legacy payment infrastructures like Visa cannot guarantee 24/7/356 availability but it has been proven with Bitcoin.
2- Decentralization. With independent nodes all over the world, it only takes 1 to be online for the blockchain to be available.
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It is important because that means there a high chance it will always be running and online. If a quarter of the mining machines went offline then there would be new miners ready to replace them
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It achieves high availability because miners are incentivised to keep the network alive. The universal love of money keeps blockchain running with high security and health.
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It’s important for the blockchain networks to be highly available networks because it’s a Global infrastructure which it’s components enable real time financial Transactions for all its users.
The Incentives because Miners are incentivized by profit and also if a portion of the blockchain goes down then it remains active due to the shared ledger across the globe.
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It is important to be a highly available network for the crucial role that the blockchain want to achieve in the near future, the network must be always running and extremely secure if it is intended as a mean to move value all over the world without restrictions.
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Incentives to the entities that guarantees the security and the up-time of the network
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Blockchain is a database which main and only purpose is to collect and store information, without high availability new information adding to chain would became very slow and unattractive to users.
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High availability is incentivised through monetary reward. Since, to seek benefit is in human nature, availability is always beautifully balanced through benefit / effort ratio.
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Access anytime for anyone around the world keeps the network running.
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Incentive to make money.
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Why is it important for blockchain networks to be high availability networks?
It increases security and provides accessibility 24/7
What is it that enables blockchain networks to have such high availability?
Incentives / mining
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Keep the network secure and protect the network. Make money.
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Decentralised blockchain mining. Multiple network nodes.
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Q1: Its important to have high availability network for a global networks because its essential that a network is accessible when its needed. And being a global network with massive amounts of computers connected to the network it is essential that its working 24/7/365.
Q2: Mining enables blockchain networks to have such high availability and high security. If part of a network goes down other computers step in to join the network, mining become easier and so protection of the network increases.
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- It is important for blockchain networks to be high availability in order to succeed. Currency must be used and accessible to be effective and work.
- Block networks are enabled to have high availability through incentive, specifically financial incentives. The need and desire for money outweighs political, cultural, and personal views. It is a globally relatable goal.
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- Why is it important for blockchain networks to be high availability networks?
Because it creates an infrastructure that is running and available 24/7 and 365 days a year.
- What is it that enables blockchain networks to have such high availability?
The incentive mechanism that drives participants to want to keep the network alive, everyone has an incentive to be able to create new value for themselves.
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It is important for blockchain networks to be high availability networks because it allows more connections to the bitcoin network essentially adding more consensus and making it more secure. It also allows for a global currency that can operate 24/7/365.
There are incentives attached with mining bitcoin just like there are incentives with mining gold. When a lot of people are mining it is less reward. When there are few the reward is great.
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Blockchain networks have to be high availability networks because, it needs to be open 24/7 365 days a year to enable anyone in the world to access it easily.
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Incentives, because everyone wants to make money.
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- Why is it important for blockchain networks to be high availability networks?
It is important for blockchain to be high in availability because it means that people can access the infrastructure 24/7/365. - What is it that enables blockchain networks to have such high availability?
Everyone wants to make money so they have interest on keeping alive 24/7/365 the infrastructure. Mining will support this process because people make money protecting the network.
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- Its important blockchain networks is highly available because then only transactions can be happen seamless without any issue.
2)Incentiwise.