Homework on High Availability - Questions

Blockchain and Bitcoin 101
#1246

  1. for security and making money purposes

  2. blockchain has highly incentivised miners which keeps everything ticking over. If they stop other it stabilises network and then other miners start

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#1247

  1. It is important for blockchain networks to be high availability because it ensures their correct function even if one of the computers malfunctions or fails.

  2. Mining enables high availability.

2 Likes
#1248
  1. Because that allows mission critical transactions to run through the network in a trust less manner, backed up by nodes running a unique “math algo” that connects them as a single unbreakable entity.
  2. Earnings, as more nodes join to earn an incentive the higher the availability is in the blockchain network.
1 Like
#1249

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Constant access, more mining equals higher availability and higher security which means the network will not go offline.
  2. What is it that enables blockchain networks to have such high availability?
    The ability to mine and the network of nodes creating a data base is what makes blockchain networks have the ability to have high ability. The network should never go offline.
1 Like
#1250
  1. so they can be accessed at all times from all participants
  2. the fact that people have incentive to participate, the incentive will increase when the number of computers leave the network to attract more computers to join
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#1251

  1. It is important for all users who need higher availability than what there service providers can provide, and it is the advantage point in regard of why to use block chain tech, higher efficiency.

  2. There is a strong incentive to keep the system running with a balanced equation that changes by the quantity of the participants.

1 Like
#1252

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

High security, determining the truth, value instead of information, all require high availability from an infrastructure.

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

Incentivised miners.

1 Like
#1253

1: because it is good for the global market to be open 24/7 365
2: people are incentivized for keeping their mining rigs running

1 Like
#1254

  1. They can be accessed at any time globally. 24/7/365

  2. Miners are incetivised to be a part of the network.

1 Like
#1255

It’s important for blockchain networks to be high availability because they always need to be running and verifying, it adds to the security. It’s also a system of incentivizing people to keep it running because as long as it’s running, people are making money.
If many people are mining, it enables blockchain networks to have high availability because if one part of the network dies, other parts take over. Similarly, if difficulty goes down, then more people will join the network and the difficulty will go back up.

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#1256
  1. because the world is not on the same time schedule and it operates at different time zones so 24 hours 365 is need.
  2. rewards or incentives
1 Like
#1257
  1. Why is it important for blockchain networks to be high availability networks? It is important for blockchain networks be available 24/7, 365 days because users are worldwide. It should be available at any given time.
  2. What is it that enables blockchain networks to have such high availability? There are incentives for miners and this enable blockchain networks to have such high availability. Also, decentralization and all nodes/computers in the network have copies of all the transactions. If one node is down, the rest of the nodes is still available to be used.
1 Like
#1258

So that the user can use it at any given time.

The incentives received by the miners to keep the network alive.

1 Like
#1259
  1. Why is it important for blockchain networks to be high availability networks?

If the chain isn’t available neither is your business. If your business is unavailable you will not only lose money and market share but most importantly TRUST.

People do business with who they know, like and TRUST

     NO TRUST NO BUSINESS
  1. What is it that enables blockchain networks to have such high availability?

The decentralization of the network combined with a game theory that incentivizes keeping the network online. I.e. the ability to mine crypto( BTC proof of work) and most recently ethereums “proof of stake”.

1 Like
#1260
  1. High availability is important because it facilitates the uninterrupted operation of blockchain applications. The bitcoin network, for example, never goes offline and is therefore available for financial transactions 24/7/365. There are no bitcoin hours, so to speak, because every moment is a bitcoin moment.
  2. The high availability of bitcoin networks is made possible by an open and flexible network structure that financially incentivizes those who participate in it. So if, for example, a part of the network goes down and network security is reduced accordingly (because network security is a direct function of network size), then the mining difficulty goes down as well and new miners will be enabled to join the network and to profit financially. In consequence, the network recovers its original size and its security is restored. In other words, a blockchain network is a self-regulating system in which security tends to remain stable at a very high level.
1 Like
#1261
  1. Why is it important for blockchain networks to be high availability networks? Never shut down, incentives come from an operating network 24/7/365. This is attractive for industries of all types (social, industrial/products/materials, financial, creative - written, visual, audio, etc.)
  2. What is it that enables blockchain networks to have such high availability? Blockchains incentivize miners, the availability for miners to use network matters - If other computers die others will come in because of mining (this protects the network and keeps the network running). This allows blockchains to continually be produced.
1 Like
#1262

  1. It’s always reliable for everyone using it, no matter where you are.

  2. There are always new computers joining the network. If a part of the network dies, there are immediately new computers to join.

1 Like
#1263

1 - Because it is a global network who need to be run 24. hours. 7days and 365 days , anybody in the world can access it any time , if one of the computer on the nework done, the others one have the copy of the edge to still run the network.

2 - Create an incentive for people make money on it , the mins working on it to protect the network .

1 Like
#1264

  1. It makes blockchain networks a very attractive technology, since high availability is a key value driver for many applications

  2. The incentives. The network is rewarded monetarily for being available all the time.

1 Like
#1265
  1. To make it easy to use at whatever day and time and from whatever location
  2. The incentive structure that rewards participants to keep the system running.
1 Like