Homework on High Availability - Questions

Blockchain and Bitcoin 101
#1266
  1. The community is global and needs access 24/7/365
  2. The blockchain is incentivized through mining
1 Like
#1267
  1. so that it can operate 24/7/365
  2. it is incentivized - through global mining - everybody wants to earn
1 Like
#1268

  1. In order to be global and available to everyone it must accommodate all time zones.

  2. The participates are incentivised (through payment) and all times of the day to keep it running all times of the day.

1 Like
#1269

  1. In order to compete with centralized solutions, consumers around the world need to be able to send their bitcoins at any time. It would be extremely difficult to support a global economy if the payment network supporting it was only available for a certain period of the day.

  2. Blockchain networks have such high availability because miners are willingly mining transactions around the clock. It doesn’t make much sense for miners to only mine for part of the day because they would end up losing a lot of potential revenue.

2 Likes
#1270

  1. A reliable, accessible network for people globally, 24/7/365.

  2. Incentives for miners

1 Like
#1271

  1. With being a high availability network it opens for all people all over he world to be used all the time. And the philosofi behind it is freedom from liliming factors or control, so with 24/7-365 open channel the flow is smooth :wink:

  2. This is possible because with a global network there will allways be activity, and as you get rewarded and everyone wants to make money, you have the optimal functioning organism as we will never be emty of entities that wants to earn money.

1 Like
#1272

1.beceus if thy are low availebel thy wikl be useles bat if thy high availebil it wil be an good network
2.beceus if one goes out an anther one replace it

2 Likes
#1273

  1. Theoretically, a higher blockchain uptime leads to higher network security because there is a higher chance that the blockchain database is instantly verified.

  2. There is a financial incentive to maintain the blockchain networks at high availability.

1 Like
#1274
  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 the network needs to be available at all times 24/7 365

What is it that enables blockchain networks to have such high availability?
The nodes, they are on all the time, they are incentivized to be on and checking the network by mining and getting coins.

1 Like
#1275

  1. Because high availability is essential to business and human life and current models are creating a lot of trouble - for example banks not being able to transfer money for their clients outside their office hours.

  2. Incentives, the mining difficulty adjusting for example in BTC.

1 Like
#1276
  1. you want to have the network reliable, and hence be available 24/7/365 - it is a distributed public ledger and not having high availability will not enable to have replication of the data accross the network / database
  2. Mining - if few in the networks are available, more will come in (to get also money) - this will ensure high availability
1 Like
#1277
  1. Because it provides more computational power to secure the network in providing security through consensus the more computers the more copies of blocks, level of consensus and reliability.
  2. Incentives through mining.
2 Likes
#1278
  1. It is important for the blockchain to be available, because that is the only way it can run and is highly transparent when its always available 24-7-365
  2. The way blockchain is enable to have high availability is when people have an incentive to mine it.
2 Likes
#1279

  1. Because it is important for users to trust that they can have access to their assets on the network whenever they need it (specially if we are talking about money).

  2. The financial incentives it generates to the network nodes.

2 Likes
#1280

  1. Part of trust is availability and if blockchain networks want to create value then it has to be relied on and reliability and availability often go hand in hand.

  2. The decentralized nature of the blockchain network. Additionally, incentivazation also helps create high availability.

2 Likes
#1281

  1. It is important for blockchain networks to be high availability so that everyone across the global has access to it 24/7/365.

  2. Everyone who maintains the blockchain by running nodes are incentivised to keep it running with money and everyone wants to make money.

1 Like
#1282
  1. So it can be used globally.
  2. The global network of miners that process and confirm transactions as well as create new blocks.
1 Like
#1283

  1. Why is it important for blockchain networks to be high availability networks? The network never goes down. if one part fails another computer takes over.

  2. What is it that enables blockchain networks to have such high availability? Block rewards incentivize the high availability of the network.

1 Like
#1284
  1. Easier access around the clock
    2)Miners get incentives for keeping the network alive , reason for high availability
1 Like
#1285
  1. The world is up 24/7/365. It’s always 5:00 somewhere!
  2. The ledger exists on systems all over the world. The chances that all the ledgers would be inaccessible is extremely minimal if not non-existent.
1 Like