- So they never shut down and can be accessed easily 24/7.
- Mining incentivizes more miners by a cash reward or by making it harder in an attempt to stabilize.
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Correct! Also, miners have incentives to keep the blockchain running!
High availability means better chance to global adoption. Also, not only the decentralized nature gives this high availability, but the incentives for the miners to keep it that way!
1.To complete a task and be available for the next one without interruption enables technology to reach the next plateau where we can trust machines to support and enable us without constant over site.
2. Miner Incentives enable blockchain networks to have high availability.
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Its important cause if they weren’t reliable, then in circumstances where you need to use the network to perform your particular function, you need high availability otherwise the use case is dramatically decreased.
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Miners and the whole supply and demand of them, being online 24/7 and it being globalized.
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It is vital that a global network / financial system, specifically blockchain as global infrastructure, is available 24/7, 365 days a year to enable anyone in the world to access it irrespective of differences in one’s time, day or work hours. High availability and reliable accessibility to such network would be a prerequisite to ensure security and build trust.
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What keeps it going is the fact that blockchain technology incentivizes miners that participate in the network by way of financial (block) rewards through mining. Everyone wants to make money and this reality is an important consideration for a successful global financial system.
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Why is it important for blockchain networks to be high availability networks?
Many use cases require 24/7 availability to very data especially financial transactions If you want the world to use your blockchain solution, it being a currency, smart contract, or other solution, you do not want any network outages preventing transactions from happening.
What is it that enables blockchain networks to have such high availability?
Decentralization allows the network to be highly available and as well there are incentives for the nodes to be available/online all the time. Some new types of staking nodes are penalized if they are not online for a period of time.
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Why is it important for blockchain networks to be high availability networks?
A high number of independant nodes verifying consensus at any time is necessary to maintain security of network. The process of finding consensus requires constant digital communication between all nodes.
What is it that enables blockchain networks to have such high availability?
Each individual node has an economic incentive to create availability. A stable mining rate is maintained by an automatic control mechanism of higher / lower difficulty.
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1 - so it can take transactions and be useful to useful; high availability also means high survivability
2 - multiple nodes in different geo locations. so no central point of failure
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Because high availability provides an easy access to the network at all times that makes it reliable. And constant financial incentive for miners to protect the network. Less Difficulty -more miners.
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- Why is it important for blockchain networks to be high availability networks? Because more it is avaiable, more it is secure.
- What is it that enables blockchain networks to have such high availability? As a global network, anybody can access the network 24/7/365.
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High availability in networks is necessary so that people always have the opportunity have access to the data and the value stored and this also maintain confidence in the network which adds to the value.
Blockchain network like BTC is enabled to have high availability because of the incentives for mining new BTC to keep the network running by producing new blocks.
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So the network will be most secure.
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Because it is online all the time and everyone is incentiviced .
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Why is it important for blockchain networks to be high availability networks?
The importance of the concept of the blockchain itself makes it a high availability network. As the network is secured and maintained by a global de-centralised team of nodes confirming the validity of a transaction, this guarantees high availability 24/7/365!
What is it that enables blockchain networks to have such high availability?
Payments to ‘miners’ that reward the validation of transactions ensure there is an incentive to keep the network secure and achieve ‘high availability’
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The higher the availability of the blockchain network, the more secure and effective the network
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By incentivising increased mining when there are less nodes available, the blockchain ensures a high number of online nodes and hence high availability
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- For security reasons.
- Incentives through block rewards, mining.
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- Why is it important for blockchain networks to be high availability networks?
A. It is important for blockchain to be high availability to keep the network alive and maintain high security.
2.What is it that enables blockchain networks to have such high availability?
A. Mining enables blockchain to have high availability.
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- People want to make money, globally, on local time.
- A network of Miners that want to make money and span the globe.
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- Everyone is incentivized to keep it running / alive.
Because mining is how we protect the network. - Make more money 24/7/365.
No network in the world has been accesible like that.
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Why is it important for blockchain networks to be high availability networks?
- for critical industries like financial, medical it is important to stay online
What is it that enables blockchain networks to have such high availability?
- incentives or the miners 24/7
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