Because of its positioning as a global, reliable, financial network.
Incentives like mining rewards increases the number of machines that are on the network.
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It is important for them to be high availability networks because everyone wants to make money from all over the world so it’s extremely important that it’s available 24/7.
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What enables blockchain to have such high availability is the incentives it provides aka mining.
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Why is it important for blockchain networks to be high availability networks?
because people can access it any time anywhere in the world -
What is it that enables blockchain networks to have such high availability?
economic incentive that makes it interesting to keep the network alive
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Why is it important for blockchain networks to be high availability networks?
its important for a global financial system -
What is it that enables blockchain networks to have such high availability?
everyone is incentivized to keep the network going
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Why is it important for blockchain networks to be high availability networks?
- It is important because it allows to conduct transactions at any time
- Rewards, profitability
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1 - Why is it important for blockchain networks to be high availability networks?
To provide a more robust system and greater levels of consensus and trust there needs to be a large number of nodes online. The nodes need to be online as much as possible to ensure this resilience.
Being global, there is also no period where downtime can be allowed.
2 - What is it that enables blockchain networks to have such high availability?
The incentives provided by a particular protocol ensure that machines remain part of the network as much as possible. With a lot of nodes online at any one time, the network can easily achieve a 24.7 uptime.
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- As a global network it is important to be available to service needs 24/7.
- Incentives that keep miners active on the network verifying transactions. Its genius is the flexibility of difficulty based on the availability of miners.
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- It makes blockchain networks more secure. More miners- more high security of the network.
- Because everyone is incentivized to keep it available. Everyone want’s to make money, and by keeping network alive, they making money.
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- Why is it important for blockchain networks to be high availability networks?
24/7 365 availability improves trust, ease of use, higher adoption and makes it all better than existing systems
- What is it that enables blockchain networks to have such high availability?
The financial incentives like that provided to miners, keep the network stable and functioning
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- Why is it important for blockchain networks to be high availability networks?
High availability of blockchain networks signifies high consensus, meaning greater security. With high availability comes greater transaction verification as and when needed. - What is it that enables blockchain networks to have such high availability?
People are incentivised financially through mining to provide network availability.
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- we need a globals, secure decentralized infrastructure that doesn’t go down
- incentivized -> mining
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- So they are reliable - available 24/7/365.
- The exact same database is duplicated over many computers.
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Why is it important for blockchain networks to be high availability networks?
It important for blockchain networks to be high availability networks because they never shut down keeping organizations up and running.
What is it that enables blockchain networks to have such high availability?
Incentives enables blockchain networks to have such high availability. Mining is an example of incentive.
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It is important for blockchain networks to have high availability as some users have time critical applications. In the case of BTC we would like to be able to trade at all times. If you became aware of information that would affect the price you would want to be able to act on that knowledge immediately. It would be lame to have to wait until monday morning for the banks to open. If you had your medical data stored on a blockchain and you had an accident and required surgery it would be very important for a doctor to be able to that information readily available.
The financial incentives of the blockchain that rewards miners with the block subsidy means that if part of the network goes down a miner in another place can provide more hashpower and be profitable. The fact that miners are distributed around the world means that the probability of at least one miner surviving a catastrophic incident and for it to be profitable to do so is very high.
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Transparency, trust, the fact that network is available 24/7/365 and can be accessed globally. It is like a living organism that never stop breathing however it needs oxygen in order to be able to operate. Oxygen can be represented by miners who secure the network and allow blockchain network to deliver highest quality product.
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Decentralisation and the miners are being incentivised for their contribution.
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Why is it important for blockchain networks to be high availability networks?
Blockchains are global networks and need to be accessible at any given moment. High availability means more nodal points to validate against the common database or consencus of the truth increasing security. -
What is it that enables blockchain networks to have such high availability?
Blockchain gains high availability through financial reward.
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Providing a global network need 365 24hrs a day availability and To be up and running so people can make money.
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The ability to make money
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- High availability reinforces security in the network and trust in the network. By always being on, it ensures that there is someone always available to verify and approve a transaction.
- The fact that it is decentralized allows it to have high availability. If one person is not available, there will be someone else who is on and ready to work.
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- Why is it important for blockchain networks to be high availability networks?
Because if it is to be a global system then it needs to be always on. - What is it that enables blockchain networks to have such high availability?
Mining incentives ensures it is available 24/7/365 because there is always someone looking to make money
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It’s important for blockchain to have high availability in order to give access to people living in different time zones since it is a global database
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It achieves availability by giving incentives to the nodes who keep the network alive. Everyone wants to make more more and there will be always someone to keep the network running for the sake of getting rewards.
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