Homework on High Availability - Questions

Blockchain and Bitcoin 101
#142
  1. Why is it important for blockchain networks to be high availability networks?

Having high availability networks allows for a network to remain running 24/7 365. It allows for there to be stronger network security and greater peace of mind in users knowing they can access the network at any given moment.

  1. What is it that enables blockchain networks to have such high availibility?

Incentivizing with block rewards by enabling miners to earn money creates a higher availability of having a high demand and thus high availability.

#143

Gr8 point… once Blockchain is a compilation of technologies that was already around.

#144
  1. So that every single user can access the blockchain, its info, funds and transaction, every single hour, and day of the year, doesn’t matter where you are, if its bank holiday or if a massive breakdown occurs. You are not locked out.
  2. DLT, once it doesn’t relies on an single server that can be shut or cracked down. If one node crashes all the other ones will support the system. oscillating slightly the difficulty but still fully operational.
#145
  1. Because in order for an entity to do business for example they need to be able to process transactions at any time. The totality decentralized network allows that.
  2. Being fully decentralized and using multiple computing locations enables the high availability. Also if one system is down another can fill it’s place.
#146
  1. In a global world we need a network to be up and running all the time.
  2. Incentives. As people want to make money, people from all around the world will run nodes to keep the network active at all times
#147

Homework on High Availability

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

  • a good infrastructure just needs a high availability to be usable and accessable for everyone from anywhere at anytime

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

  • Incentives
#148

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

It is important because it allows people and industries to transact 24/7 356 days a year which maximizes creativity, profits and allows economy’s to flourish and grow.

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

We intensives and reward the miners to provide security and consensus and create new blocks so the network don’t lose computational power that is needed for the blockchain to function 24/7 356 days a year.

#149

Homework on High Availability.

  1. Since we have become such a global community and communications have become almost instantaneous, it is important for blockchain to be able to be readily available.

  2. The fact that the network is decentralized allows it to be be available 24/7/365. Individuals are paid to help keep the network going therefore the minute someone pulls their node there is someone right behind them ready to fill in.

#150

Why is it important for blockchain networks to be high availability networks?
So they can be used 24/7. All day, everyday, all the time on a global level.

What is it that enables blockchain networks to have such high availability?
The financial incentives. People are mining blocks on the blockchain to be rewarded. These people keep the blockchain working 24/7.

#151

  1. In a trust-less environment such as blockchain, high availability is what builds ultimate trust in the system as a whole

  2. The network is automated, and therefore impervious to human labor laws

  • network participants are incentivized to ensure round-the-clock availability
#152
  1. Because it is Global and transaction occurring 24/7
  2. Incentives for miners
#153

1. Why is it important for blockchain networks to be high availability networks?
Should there be any ‘downtime’ for a blockchain network then the miners will lose their incentive, since they would not be able to mine, and that in turn would not enable a ‘trust-less’ system.

2. What is it that enables blockchain networks to have such high availability?
There are many nodes/miners which participate in the blockchain network, so should one or more miners go down then there are hundreds more which can instantly take their places.

#154

1.high availability is important because it is a global network.
2.the incentive to make money by miners. If a part of the network dies, mining becomes easier, other miners fill in the gap. Availability stays high.

#155

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

The network must be accessible at all times to provide value to all who use.

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

It is miners that are incentivized to maintain the viability of the network.

#156

Because people want to send and receive 24/7/365

The amount of miners there are, the more miners, the higher the availability.

#157

1- Because information needs to be available 24/7 otherwise it become useless in most cases.

2- The global integration of the network makes it run 24/7 and ensure us that will never stoped.

#158

1 For security reason . The more people are in the network the more save it is , That is why it never stops.
2. Economical incentives

#159

  • Why is it important for blockchain networks to be high availability networks?
    So that it will be more secure

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

#160

Because if it wants to be a global infastructure it has to be availiable to all.

Because the miners are incentivised trough making money and because they are decentralized. This is why we have such high avaliability.

#161

  1. A high availability network is important for accessibility and workability at all times. This makes it globally viable. A higher availability also builds trust and security amongst the people who use it.

  2. The incentive that miners get. They make money to keep the network functioning.

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