Homework on High Availability - Questions

Blockchain and Bitcoin 101
#1569

  1. Reliability for all to be able to confidently transact/operate 24/7/365 according to their incentives to transact.

  2. Each party involved has incentives to be able to confidently operate without interruptions/time delays.

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#1570

A global infrastructure is needed and blockchain provides this by being open, secure and decentralized.

It runs 24/7 365 and it is incentivized by mining

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#1571
  1. Why is it important for blockchain networks to be high availability networks?
    A: To maintain and protect the network at all times.
  2. What is it that enables blockchain networks to have such high availability?
    A: Miners are incentivized by capital profits to mine 24/7/365 giving it high availability.
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#1572
  1. Why is it important for blockchain networks to be high availability networks?
    The more people use the network the stronger the security will be. Being in a different time zone and still having availability is a huge plus.
  2. What is it that enables blockchain networks to have such high availability?
    Decentralized computers throughout the world and no authority setting restrictions on hours of operation.
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#1573
  1. It is important for blockchain networks to have high availability because of security through more nodes with copies of the ledger, and to keep the network alive.
  2. Incentivizing involvement (mining, etc…) and decentralization of the network enable the blockchain to have high availability.
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#1574
  1. Because needs to be working all the time non stop, to be able to work global.
  2. Incentive allowed for verification of the network, if one node is down there is a copy on other computers on the network.
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#1575

  1. Why is it important for blockchain networks to be high availability networks?
    Because the global economy operates year round 24/7.

  2. What is it that enables blockchain networks to have such high availability?
    It can operate 24/7 because the computers running the ledger are many and located all around the world. These computers are incentivised to keep updating.

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#1576
  1. So the application and data is available 24/7/365.

2 The more nodes there are the more highly available the network is. This is achieved by financial incentives.

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#1577

  1. Because everybody wants to make money. This is very important for a global, financial system.

  2. Because of mining. Mining is how we protect the network and mining is also how people make money by protecting it. So everybody is incentivized to keep the blockchain alive.

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#1578
  1. We exist in a global community with multiple time zones and industries , so at any given time there is activity by someone or something that needs servicing. Blockchain networks must be available at al times to service this non stop/continuous activity.
  2. Across the globe people are incentivized to participate and ensure the network is running and available.
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#1579
  1. Availabilty is necessary for security, 100% uptime of proof of work means transactions get verified, the blockchain grows and become harder to compromise. The usability of the network requires this also.
  2. That miners and nodes stay online and working is incentivized by the game theory of bitcoin, you must participate in securing the network if you want the monetary reward. Once you have the monerary reward, continued participation further secures your reward.
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#1580

Why is it important for blockchain networks to be high availability networks?
blockchain’s security relies on people being incentivesed and able to easily access the network to verify transactions/new data. the more the merrier!

What is it that enables blockchain networks to have such high availability?
blockchain’s nodes use their own cpu to verify added data or transactions. Anyone can do it as long as they have access to the internet. ?

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#1581

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    because the global economy is working 24/7. So there is always some in the world who would like to use it.

  2. What is it that enables blockchain networks to have such high availability?
    The miners who get incentives to keep the network running.

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#1582
  1. Why is it important for blockchain networks to be high availability networks?
    It is important for for blockchain networks to be high availability networks because this helps drive incentive and security.
  2. What is it that enables blockchain networks to have such high availability? Incentives enable many people to be in the network and many miners have incentives to continue mining.
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#1583
  1. Because it incentive’s miners
    2.New miners can join network and receive incentives
#1584

  1. Why is it important for blockchain networks to be high availability networks? High availability means there is also incentive to make money and keep the network alive especially through mining.

  2. What is it that enables blockchain networks to have such high availability? Incentive. Incentive means that if part of the network goes down then there will be other parts of the network (ie mining) incentivised enough to fill in or keep the network going. This means the network runs 24/7/365.

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#1585
  1. Blockchain networks must be high availability so that bitcoin transactions can take place whenever is necessary.
  2. Blockchain networks can have high availability because there is an incentive to keep mining all the time to make money.
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#1586

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

from my current observations, the importance of a blockchain having high availability is because the world is always spinning, business and money never stop moving (unless your in the stonks market). being able to engage with information and conduct transactions from anywhere at any given time is a blessing, from japan at 4pm to Russia at 2am, work and productivity can be accomplished.

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

from my current observations, what enables the blockchain networks to have such high availability especially in the the case of bitcoin is the miners. the miners are incentivized to protect the network along with maintaining the network so they can generate money in different avenues of the blockchains protocol.

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#1587
  1. Because is accessible 24 hours a day, 7 days a week and 365 days a year
  2. The blockchain is enabled to have such high availability because is incentivate to be kept alive by everyone.
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#1588

1: They are global. There are different time zones in the world. Blockchain networks overcomes this.
When you are global it benefits a lot to have a high availability.

2: Everyone is incentiviced to have high availability in the network.
The decentralized mechanism of public blockchains also makes it much easier to have high availability.

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