Homework on High Availability - Questions

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

  • Blockchain networks are global networks so in order to be accessible for everyone, it needs to be available 24 h/d 7 d/w 365 d/y

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

  • mining protects the network
  • incentive to protect the network and keep it alive because the universal need and want to make money
  • network stays alive by difficulty of mining (going up, down, or stabilizing) when less or more people (computers) start to mine
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1.It is important for blockchain networks to have high availability networks simply because its needs to incentive there miners , lower difficultly, makes mining more profitable, and also introduces new miners to achieve new profit’s.
2.incentives make block chain networks to have high availability.

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1.It is urgent for blockchain networks to have high availability for the purpose of being global and big.
2.The key that establishes blockchain networks to give high availability is mining, which runs the network 24/7

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  1. Is it important for a blockchain network because it means that many people use it which increases security. If not enough people use it that will mean it could possibly be broken.
  2. The mining because it gets easier to earn money when less people use it. And people like money
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  1. Why is it important for blockchain networks to be high availability networks? Because
    use of the network will be 24/7 since it is worldwide and needs to be available at any time.

  2. What is it that enables blockchain networks to have such high availability? Nodes
    are decentralized and each carries a duplicate copy of the ledger. If nodes in one area
    go down, other nodes in other parts of the world are working, so network is still viable and
    data is still trustable and available.

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  1. Why is it important for blockchain networks to be high availability networks?
    it creates legitimacy and trust to the network, in your money.

  2. What is it that enables blockchain networks to have such high availability?
    incentives in maintaining the network reward those involved.

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  1. Why is it important for blockchain networks to be high availability networks?
    It’s globally shared and requires redundancy.
  2. What is it that enables blockchain networks to have such high availability?
    Incentivizing network participants is the driving force of the high availability network.
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Why is it important for blockchain networks to be high availability networks?

In a global network across multiple time-zones it’s essential that the blockchain is accessible at all times.
What is it that enables blockchain networks to have such high availability?
The miners are incentivized with block rewards for mining new bitcoin and keeping the blockchain secure.

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  1. Because in a global market the network needs to be available 24/7 365 days per year.

  2. The internet is worldwide and does not sleep, neither does the blockchain network. The incentive to make money is a concept shared globally.

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  1. To keep “this thing of ours” going… multi transactions, globally, day or night.

  2. Incentives

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  1. to enable parties involved to have access at any time to make transactions vs traditional systems which are subject to days off, emergency down time etc…
  2. simply availability of internet, network is not centralized so not contingent on availability of one particular system. if part of the system goes down it will keep going on the rest of the network without loss of information
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  1. Because transactions should be operatives 24/7/365
  2. Money, it is always money
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  • Why is it important for blockchain networks to be high availability networks?
    Because that means you can do business any time all the time 24/7/365 globally.

  • What is it that enables blockchain networks to have such high availability?
    Miners are incentivised to protect the network and make money for doing it. No one will let the security lag because they can benefit from protecting it.

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1.& 2 The network is built on incentives for miners. 24/7/365 access means more opportunity to make
money. This provides stability to the network. There are miners to take up the slack if a node drops
out (power outage).

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  1. Because many applications build on blockchain, base and use on this high availability network and it creates more security and speed

  2. Decentralization is the reason for independence. The Network is independent of timezone, countries and companies. So enough miners can secure the high availability at any time because local restriction have no influence.

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  1. Anything import (money, business, info, communication) needs to be available 24x7x365
  2. Decentralization and the fact that there is a financial incentive for nodes containing the ledger be HA even if that means new nodes coming online to take the place of previous nodes.
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  1. It is important to maintain high availability to keep the network secure. More machines; higher difficulty.
  2. Miners are insensitive to maintain the network by being rewarded.
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  1. Why is it important for blockchain networks to be high availability networks? So it can be accessed at any time by any one to complete any necessary transactions.

  2. What is it that enables blockchain networks to have such high availability?
    The incentive for all parties to keep the network available and the decentralized of the network

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  1. since is used globally. so it must be available at all time.
  2. Incentives , everyone wants to make money
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Good job! Also, there is an incentive for miners to keep the availability of the network!

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