Homework on High Availability - Questions

Blockchain and Bitcoin 101
#1467
  1. becouse you should be ebule to ues it enytime

2 . if some systems shutdown the ledger are still on other

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#1468
  1. It is imortant for blockchains to be high availability networks simply because money is involved and people need to be able to proceed with their transactions at any given time.
    2.Well people love money love making money and will never stop mining it if they can.
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#1469

High availability is important for networks that society uses all of the time. For example, people are always interacting with the financial system. If people don’t have consistent access to their money, they aren’t going to use the network.

Incentivized mining allows blockchain networks to have high availability. High mining creates high availability. When mining drops more people join in because mining allows people to make money. In this way high availability is restored.

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#1470

Ad 1) Because blockchain is a global financial system.

Ad 2) Decentralisation and incentivation of miners.

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#1471

High Availability

  1. Why is it important for blockchain networks to be high availability networks?
    Blockchain networks need to be secure for many people to use it without issues. Without having many computers on a blockchain network, the blockchain can become exposed, meaning the chance of an attack, can occur, bringing down the network. With more computers on the network, the stronger the blockchain, with higher uptime. If one computer goes down, another computer can come online right after. Bitcoin’s blockchain is very secure since there are so many computers on the blockchain network. If a bunch of nodes are taken out, the blockchain still lives.

  2. What is it that enables blockchain networks to have such high availability?
    Computers present on blockchain networks increase availability. The more computers on a blockchain network, the higher the availability. If a central database is attacked, its chances of gong down are high, but with blockchain, if there are many computers on the network, the risk of downtime decreases.

#1472
  1. When the networks has a high availability the network security is high.
  2. A lot of people mining and using the network.
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#1473

  1. So people can have access to the network.

  2. Not going offline enables blockchain networks to have high availability. People want to make money.

#1474
  1. more access to bitcoin makes it easier to get into. Also anyone from any country at anytime can get into bitcoin as long as they have access to the internet.
    2, Because it isnt reliant on a central server/database and it relies on many computers in many locations allows it to be highly available and even if there is a large chunk of network that goes offline other miners in different locations will take up the slack.

My question is if China goes offline and ASIC mining equipment is made there and no one can buy new ASIC gear (e.g. because of War), will there be enough manufacturers of equipment to keep the network robust, if miners from other countries take up the slack? A world war will be a huge blow to the system.

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#1475

High availability-

  1. trust for the network requires it must keep running 24/7/365, always must be able to access network.
  2. mining is incentive via cash money, if mining goes down security goes down and more will enter mining as incentives rise.
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#1476

It is important for blockchain networks have high availability because they are global infrastructure, providing access around the world 24/7/365.

Miners receiving rewards for finding new blocks protect the network as well as provide security. It is these rewards that incentivize the miners to keep the blockchain safe and secure.

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#1477

  1. Why is it important for blockchain networks to be high availability networks?
    The 365 24/7 nature of the verification of transactions means it is less open to modification.

  2. What is it that enables blockchain networks to have such high availability?
    The decentralized global nature of the network

#1478

1 Since blockchain networks are global, they need to be available all the time.
2 The incentives that the protocol give to the miners.

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#1479

  1. Why is it important for blockchain networks to be high availability networks?
    Because it means that that you always have access to the database

  2. What is it that enables blockchain networks to have such high availability?
    Because there is incentives to keep the network online

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#1480

trust in the protocol by users & making sure that latest state is not out of date.

the incentive mechanism

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#1481

To be available 24/7/365. This is the key so we can use it to build other applications of dapps above it.

incentivising miners by BTC to mine blocks and each time the total number of miners decreases the difficulty decreases and this will attract new miners and so on…

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#1482

  1. Why is it important for blockchain networks to be high availability networks?
    Answer: Since blockchains usually involve payment systems and monetary systems they must be available whenever money is needed - always.

  2. What is it that enables blockchain networks to have such high availability?
    Answer: The convergence of decentralization, incentives and network adoption.

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#1483

Since it may be used as a storage of value it must be readily accessible so people may perform transactions.

A decentralized global network that scales rewards up or down based off difficulty. When there are less miners on the network the difficulty decreases and make miners more likely to receive a reward thus incentives more miners to get back on the network as fast a possible.

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#1484

  1. So that transactions can be safely confirmed and confirmed as fast as possible

  2. Financial incentives for miners entice them to join the network and mine. The more miners the higher the availability of the network

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#1485
  1. Because it’s used globally and needs to available to everyone 24/7
  2. Having many different miners encouraged financially operating across the world. If one miner would stop mining, someone else would take it’s place
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#1486
  • Why is it important for blockchain networks to be high availability networks?
    • We need it to have high availability to be able to transact on a daily basis. People do not stop spending money or items do not stop being tracked. There needs to be high availability for the blockchain ecosystem to work.
  • What is it that enables blockchain networks to have such high availability?
    • Multiple miners and validator nodes enables high availability since if one or a few goes down, there will be more miners to take their place.
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