Homework on High Availability - Questions

Blockchain and Bitcoin 101
#1306
  1. It is important to be high availability networks because a user can rely on it 24/7 being able to transact at all times and everywhere internet is accessible.

2.Miners and nodes enable the network to be available 24/7 because they have an incentive to run it.

1 Like
#1307

  1. It needs to be accessible anytime otherwise it wouldn’t so lucrative and innovative to use.

  2. It is enabled by internet which works all the time. Also a process of mining which is constantly happening because participants are incentivized to mine all the time.

1 Like
#1308
  1. to support global infrastructure
  2. if one part of the network goes down, other nodes are incentivized to pick up the slack(mining)
#1309

  1. Why is it important for blockchain networks to be high availability networks?
    high availability provides more computational power to secure and protect the network

  2. What is it that enables blockchain networks to have such high availability?
    Incentives to miners, it pays to support the network

1 Like
#1310

  1. It has to have high avaiblity to continue fast and sicure.

  2. If one computer goes down there are all the others that have a copy of all data.

1 Like
#1311
  1. If you wanna have a global network and f.ex track products of a complex and long supply chain it is highly advantageous if the system is up and running 24/7/365
  2. Financial incentives for mining and therefore securing the system and its availability
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#1312

1. Why is it important for blockchain networks to be high availability networks?
To ensure verifiability from all active nodes and I think it might have an impact on reliability as more nodes would be involved (I’m just starting, so maybe I’ll verify this in a later course).

2. What is it that enables blockchain networks to have such high availability?
Various forms of incentive to keep the network operational

1 Like
#1313

Homework on High Availability - Questions

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

1. Answer
So that we can have a more efficient system. If you need money you have access to money, if you need to work you can work, if you need to transact, transfer, verify, educate … whatever! you you can more often on a better available network.

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

2.Answer
incentive of profit/ reward, there is a kind of ying and yang- higher incentives if a gap needs to be filled- Decentralisation!

1 Like
#1314

  1. It is important for blockchain networks to be high availability networks, because the ledger is updating all the time, and this promotes its functionality as a valuable currency, in addition to being a strong asset.

  2. Blockchain networks are able to maintain high availability because there are incentives for users to maintain the network at all times. People financially benefit from keeping the network up.

1 Like
#1315

  1. High availability is important to make the network most useful. Block chain does not close. It is open 24-7-365. This is necessary for any chain that is accessible worldwide. The entire world is provided equal access.

  2. The high degree of availability is created by the incentives to make money through trading and mining. If supporting members leave the chain, new ones will enter in replacement because of reward incentives.

1 Like
#1316
  1. To maintain firstly the security of the system through redundancy & secondly to permit instant access for all users.
  2. multiple computers operating on the network that are all striving to make money for their owners.
1 Like
#1317

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

The main point of HA networks is to eliminate potential points of failure in this global infrastructure. HA provide more security - thanks to this user trust rises.

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

Financial incentives received by miners.

1 Like
#1318
  1. They would handle public / important data which would need to be accessible 24/7/365
  2. incentives that keep tons of miners and nodes involved
1 Like
#1319

  1. It provides security and reliability in the technology. It runs 24/7/365 and brings much value to some activities that must always be available.

  2. Incentive for everyone that participates in this high connected network, everyone is incentivized to play by the rules.

1 Like
#1320
  1. It important for blockchain networks to be high availability to not disrupt network activity to e secure and trusted! To be the network of all networks :slight_smile:
  2. Is in blockchain nature to be high available because of the miners or nodes, and is impossible to shutdown all nodes if they are decentralized.
1 Like
#1321

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

Of extreme importance, a global network requires availability 24/7/365 -366* (leap year like this one :slight_smile:

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

Incentives of the nodes running / mining the network to always be available

#1322

1/ For the network to work well it needs to be available to all at all time - if not people will look else were and us another platform
2/ Being global it allows for areas that may be down for what ever reason the other areas will fill the gap

#1323

So it can always be accessible whenever needed,

Incentivize participation in the network by rewards

#1324
  1. Why is it important for blockchain networks to be high availability networks?

A: Blockchain must be a high availability network in order to be usable throughout the world at any given moment. Any monetary system that will be universal for the planet must be “on” at all times.

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

A: Blockchain has high availability due to the incentives in place for mining. It is additionally due to the fact that the potential to make money is always present, whether it be mining, trading, or simply conducting any normal business transaction via the blockchain.

#1325

1. Why is it important for blockchain networks to be high availability networks?
High availability means it is always reliable, information/transactions and ledgers are always available at anytime. It also means, we do not loose any information due to hacks or otherwise.

2. What is it that enables blockchain networks to have such high availability?
High availability is achieved by having many miners or people involved to keep the system alive. People keep the system alive because they get paid to do so, if for any reason miners drops off, it makes it even more easier to get money so the natural demand will support it back up thus achieving longevity without the system ever being down.