Homework on High Availability - Questions

Blockchain and Bitcoin 101
#944
  1. Because it is currently used 24/7/365 globally, and for countless applications, it is imperative that it is ALWAYS available.
  2. It is incentivized by value (money) to keep it running, and because it is globally distributed network, it is always available. There’s nodes across the entire planet, regardless of time zone, political boundaries, latitude, longitude… all you need is an internet connection.
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#945

  1. It is important for blockchain networks to be high availability networks so as to ensure security.

  2. What enables blockchain networks to have such high availability is that it is online 24/7/365 and if for some reason some portion of computers stops being able to mine, other computers and their respective users will be incentivized to start mining and therefore increasing the security of the network.

2 Likes
#946

1- it a global network and it needs to run 24/7/365.
2- decentralized, mining.

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#947

  1. It is important for blockchain networks to be “high availabilty” networks so that security remains high.

  2. Blockchain networks have such high availability because of “Mining”.

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#948

Its important that the blockchain network have high availability because when it comes to transacting, people around the. world need to be able to use it 24/7

The different nodes on the network allows for high availability, if one node goes down the others will be able to carry on the network.

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#949
  1. The more available the network, the more participants. The more participants, the more secure the network.
  2. All it takes is two nodes to create a network. Blockchains have thousands of nodes. It is virtually impossible to disable all of the nodes at one time. Therefore, the network is always available.
3 Likes
#950

Why is it important for blockchain networks to be high availability networks?
To work across borders, to work all the time without down time, to have no single point of failure. Otherwise you can’t have efficient trading/transaction.

I used to work for a company and we used Office 365, the entire business required efficient email service. One day, Microsoft Outlook server is down for everyone and no one could do any work.

What is it that enables blockchain networks to have such high availability?
The decentralized peer to peer network aspect means there are lots of nodes (miners) running around the world which ensures the blockchain is always accessible, across borders. The mining help improve the network security. But there is one concerning problem which is mining operations keeps becoming bigger and more centralized, especially by China. Perhaps a very strong coronal mass ejection + EMP event can disable the entire network infrastructure across the world, but if you have a saved copy of the blockchain and gets two nodes connected and running then you can start transacting again.

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#951
  1. Why is it important for blockchain networks to be high availability networks?

It is important for blockchain networks to be high availability networks because it adds incredible value to the practical application of the network. It creates a network that is always accessible and stable.

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

Blockchains ability to be spread among a vast amount of nodes with copies of the exact same data, and the fact that if one part of the network goes down another area can pick up and contribute to the network makes it highly available.

2 Likes
#952

  1. High Availability allows bitcoin to function as a currency otherwise if the network was down there would be no transactions.

  2. The fact that mining happens all the time allows the network to be available.

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#953

  1. Important for eg, a financial system to be open 24/7/365, never offline. Additionally for security of the network.

  2. High availability is achieved through incentives or rewards given to miners.

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#954

  1. In order be build a truly decentralized network that spans the globe, it has to be available at all times

  2. Through incentives to remain in the network

1 Like
#955

Why is it important for blockchain networks to be high availability networks?
It is important for blockchain networks to be high availability in order to meet customer expectations, achieve agreed service levels, to avoid potential catastrophic loss or disruption, and to improve systems interoperability. :briefcase:

What is it that enables blockchain networks to have such high availability?
Large numbers of open, distributed, global, peers enable blockchain networks to have high availability compared to other systems. :smile::smile:

A cool “HA checklist” example I found on IBM here.

4 Likes
#956

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

    It is important that anyone around the world can access the blockchain when they want or need to. That makes it a viable resource for anyone at anytime, anywhere.

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

    People are incentivized to keep the network going because transactions on the blockchain can happen at anytime which means there is an opportunity to make money at anytime.

2 Likes
#957

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It is important for blockchain networks to be high availability networks because it is global ledger/database and it is being used or access by everyone.

Main reason blockchain networks to have such high availability is everyone wants to make money and they participate to get incentives. example is miners mining bitcoins for incentives.

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#958

  1. High availability enable blockchains to operate 24/7 making them very robust! This in turn gives confidence and reliability to users of the network.

  2. Value (monetary) incentives are the cornerstone of keeping the blockchain running 24/7 and available all the time. In BTC case that is through “Mining”

2 Likes
#959

  1. It is important for a global financial system and other applications that can be built on top of it.

  2. Incentivization to make money.

1 Like
#960
  1. Why is it important for blockchain networks to be high availability networks?
    So each and every person can access their assets at all times.
  2. What is it that enables blockchain networks to have such high availability?
    Because it incentives the users/ miners of the network.
1 Like
#961

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks? - Because everybody wants to make money :smiley:

  2. What is it that enables blockchain networks to have such high availability? It is the mining :slight_smile:

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#962

Yes, and as long as humans like to make money with mining bitcoin, the network keeps producing blocks with transanctions being confirmed

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#963

Why is it important for blockchain networks to be high availability networks?
High availibilty means that blockchain transactions can be handled 24x7x365 year after year. No maintenance window. No downtime. Always available.
It is also resilient. If many nodes drop out, new ones will immediately step up.

What is it that enables blockchain networks to have such high availability?
Every node has a complete copy of the blockchain. The nodes are internet connected to provide consensus.

2 Likes