Homework on High Availability - Questions

Blockchain and Bitcoin 101
#1086

1- it allows for high levels security
2- monetary incentives

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#1087

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

  • Needed as they are global and used by people different time zones

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

  • incentives; miners are incentivized to make it work 24/7/365.
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#1088

Why is it important for blockchain networks to be high availability networks?
global,different timezones

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

incentives; miners are incentivized to make it work 24/7/365.

1 Like
#1089
  1. Why is it important for blockchain networks to be high availability networks?

Reliable global access mandates high availability

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

Miners have a profit motive to keep the system available at all times

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#1090
  1. high availability means better protect for network, incentive fee’s
  2. the ability to have many miners who are incentivize to run miners
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#1091

Homework on High Availability - Questions

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

Availability is important for all the nodes to have equal access to the non-local blockchain and transactions in order to prevent security attacks like DoS, network take over attacks which could lead to blockchain forking.

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

Its decentralized architecture (peer-to-peer network topology).

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#1092

[quote=“ivan, post:1, topic:8426”]

  • Why is it important for blockchain networks to be high availability networks?
    Because of gain credibility and reputation to continue to be useful in an new economic environment
  • What is it that enables blockchain networks to have such high availability?
    The incentives and rewards
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#1093

The world and the society are going on 24/7 which means the network also need to be active all that time. Currency, trading and transactions are happening every second, the service must always be accessible. But it is also important due to maintaining the security.

High incentives makes the network run. It is always “running” and protected by miners.

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#1094

  1. Why is it important for blockchain networks to be high availability networks?
    So that they can be accessible globally with no down time. This makes it a good use case for a global monetary payment network.

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain networks are continuously being mined by miners across the globe who are incentivised to constantly mine in order to receive block rewards.

2 Likes
#1095

High availability network allowing transaction 24/7 365 days per year. No opening/close time limit. It’s a “always running ecosystem”.

Miners economic incentives.

1 Like
#1096
  1. Redundancy. The more participants/validators on the network, the more solid the network
  2. The incentive structure of mining results in miners being compensated for their work/electricity/invesment in equipment through the issuance of blocks
1 Like
#1097
  1. Bcuz you want the networks to be accessible 24/7 365.
  2. Mining
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#1098

  1. So it can be accessible at all times for everyone, 24/7/365. The network needs to be available at all times to ensure accountability and availabilty.

  2. Incentives.

1 Like
#1099
  1. Blockchain high availability is very much important to have a profound effect to the network because global network needs to be available always for easy access all the time and increases high level of security and trust available to read the public ledger all time.
  2. Money and incentives makes global blockchain infrastructure always in high availability.
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#1100

  1. Why is it important for blockchain networks to be high availability networks?
    To ensure the functioning of the network all the time and allow people to make transactions 24/7.

  2. What is it that enables blockchain networks to have such high availability?
    Monetary incentives for participants (miners) to keep the system online. The incentives change based on how many miners are in the network, so once it hits critical levels regarding availability the incentive for miners to participate again will be so high that anybody will re-join and push availability up again.

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#1101
  1. it is important because high availability is required to have an ecosystem that is working 24/7 since you have different timezones high availabitly is a necessity.
    2.because anyone around the world can act as a node with the whole ledger and hence you have a flexible network supporting the blockchain
1 Like
#1102

  1. Why is it important for blockchain networks to be high availability networks?
    Because it needs to be an always-on network to be used as a financial system.

  2. What is it that enables blockchain networks to have such high availability?
    Incentives for mining to profit.

1 Like
#1103

  1. Because people or companies need access to networks 24/7 365 day’s of the year.

  2. Because miners are incentivized to make money 24/7.

1 Like
#1104
  1. Why is it important for blockchain networks to be high availability networks?
    We have a 24/7/365 online network.
  2. What is it that enables blockchain networks to have such high availability?
    Decentralization, incentives.
1 Like
#1105
  1. If you have a network that is not highly available you lose interest in it, you loose trust and also security descreases.
  2. The incentives for people to participate. Everyone wants to make money.
1 Like