Homework on High Availability - Questions

Blockchain and Bitcoin 101
#1346

QNS 1. Why is it important for blockchain networks to be high availability networks?
It is important as the network security will be at the maximum, making it secure and alive.
The high availability network also allow for transaction to happen 24/7.

QNS 2. What is it that enables blockchain networks to have such high availability?
Incentives will allow the blockchain networks to have high availability as everyone will want the reward by mining.

#1347
  1. Why is it important for blockchain networks to be high availability networks? A global financial system relies on high availability because it needs to be accessible at all times to everyone in the world.
  2. What is it that enables blockchain networks to have such high availability? Availability is so high because miners are incentivized to keep the network alive.
#1348

  1. It is important for blockchain networks to be high availability, because in blockchain technology, everyone trust the network and not a centralized organization. If big portion of network collapses, some other party will take this part thanks to mining. In this way, bitcoins are dealt equally by anybody in the same global infrastructure without going through restricted or limited infrastructure .

  2. Incentives of blockchain network enables this high availability. The players are encouraged to make money and mining takes place when the value goes down. Then when value goes up, mining will be reduced and te value stabilizes. In other words, the desire to make profit / Money united people and incentivized participants to keep the network alive.

#1349

1. Why is it important for blockchain networks to be high availability networks?
One of the very important aspects, of the blockchain network security, lies on a high availability (24/7/365). A network that never sleeps, incentives people (nodes) to participate in a duty of the network, to secure it 24/7.

2. What is it that enables blockchain networks to have such high availability?
The INCENTIVE to make money, units people, irrespective of their origin, beliefs, interests a high degree of participating in Mining. (Mining is a means of securing the network and means of generating profit)

#1350

1. Why is it important for blockchain networks to be high availability networks?
a. High availability builds trust for all parties involved
2. What is it that enables blockchain networks to have such high availability?
a. The decentralised nature of a blockchain network (nodes, miners, staking pools)
b. Incentivising the parties involved in a blockchain network to keep the blockchain running

#1351
  1. every one wants to make money
  2. Because is insentivized and if some computers goes down for any reasons others work and new ones join.
#1352

By it’s decentralized nature, the blockchain is fully redundant. Unless the entire internet is taken offline the network will be available. High availability is important for a global financial system.

Mining is an important aspect of BTC’s high availability. As more miners participate it becomes more difficult to make money however, if a network outage takes some miners offline, others will jump on to take advantage of the situation as it becomes easier to mine new coin.

#1353

  1. Why is it important for blockchain networks to be high availability networks?
    A high available network is truly global, consistent and secure and supports the need of a global economy and its connected applications.

  2. What is it that enables blockchain networks to have such high availability?
    The participation of miners’ nodes. As they are incentivized to participate in the block validations and creation, the network can be highly secured at all times even if some nodes or geographical areas are cut out of the network for any give reason.

#1354
  1. Why is it important for blockchain networks to be high availability networks?
    Blockchain Networds high availability is so important to keep high performance networks, allowing to access at any time, any day of the year. Blockchain Networds high availability = incentives.
  2. What is it that enables blockchain networks to have such high availability?
    A totally distributed technology enables blockchain networks to have such a high availability. There always going to be a continue work.
#1355

1 it important for blockchain networks to be high availability networks because it provides a non-stop processing making it a viable technology in e.g. the financial sector.

  1. Mining and incentives enables blockchain networks to have such high availability?
#1356
  1. So it’s available to everyone and anytime.
  2. The system is setup to incentivize people to keep it running.
#1357

Why is it important for blockchain networks to be high availability networks?
Blockchain is a global infrastructure and networks must be available 24/7 from any location.

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

#1358
  1. High availability networks is important because it means they are never offline. the entire system is incentivized to continue churning by profit seeking users 24/7
  2. Mining protects the network by establishing a supply and demand that’s stable with production so that if there’s a drop in mining, the incentives to replace that drop will attract new miners into the space or existing miners to grow and fulfill the gap.
#1359

1- this makes it more attractive for use and therefore stronger and longevity assured
2-getting paid for keeping the transactions flowing

#1360
  1. Because no matter where you are, who you are or when you are it’s key to easily access the network, for the network to be attractive, It’s a matter of usability.
  2. Miners get an incentive by getting payed to ge the decentralized protocol running 24/7/365.
#1361

  1. Why is it important for block chain networks to be high availability networks?
    Because block chain networks are used to store and secure critical data on a global scale. Therefore, these block chain networks need to be securely available 24 hours a day.

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

The reason block chain networks have a high availability is they lack a central point of failure. The network is redundant comprised of nodes that run 24 hours a day in various locations around the world.

#1362
  1. Because users have to be able to use the system anytime, specially because blockchain networks are global.
  2. Mining, because transactions can’t be confirmed and put in a new block without that. And people will keep mining (and keeping the whole system alive) because there is an monetary incentive.

I never heard about high avaiability before, and didn’t get it at first time (or maybe is just that didn’t understand it easily because englsih is not my first language), but this help me to understand it, so i leave the link: https://en.wikipedia.org/wiki/High_availability#:~:text=High%20availability%20(HA)%20is%20a,increased%20reliance%20on%20these%20systems.

#1363
  1. Because compared to the world outside of blockchain companies can see the value in 100% availability, especially for systems that are very critical such as healthcare and even airplane communication systems, the difference between 99.999% and 100% can make a huge difference and although this may be a stretch could be the difference between life and death.
  2. Incentives is what enables blockchain networks to have such high availability.
#1364

  1. Why is it important for blockchain networks to be high availability networks?
    If want to have high monetary value on a blockchain it needs to be available to access that value 24/7

  2. What is it that enables blockchain networks to have such high availability?
    Many nodes/validators processing transactions means that even if a few nodes drop from the network there are still many others still processing transactions

#1365

  1. Blockchains must be available all the time if they are to become a credible alternative to existing financial systems.

  2. The security of the network enables high availability. in a proof of work system this means miners have to power nodes which validate transactions at all times.