Homework on High Availability - Questions

[Mauro]

@Joy_Harris

This is how we both protect the network and make money

That is a very powerful word you used. We need to make money real again. Great job.

[Mauro]

@Rasselas_Wildcat

2.What is it that enables blockchain networks to have such high availability?
The network. The network stretches around the world. The bitcoin network for example has a widespread network with nodes from japan to europe to north america to australia to africa. Literally everywhere.

Exactly. And the incentives makes sure that no one will stop supporting the network.

[Mauro]

@Samuel_Inclan

1. always gives the service and incentives to those who participate everyone benefits.

Yes. Both the users and the nodes that support the network benefit if they keep up the network running every single day.

[Mauro]

@kidsmoney

trust some always has the light on.

We also make the money avaliable to everyone in the world at any time. Money should be transfarable at any time, unlike the banks do it today.

[Mauro]

@IAmBean

Because of its positioning as a global, reliable, financial network.

Very nice set of words used. Keep up the great work.

[Mauro]

@gogocrypto

Its genius is the flexibility of difficulty based on the availability of miners.

Yes, its actually very clever. We keep the inflation steady and the network can therefor always online.

[Mauro]

@ingute1986

1. It makes blockchain networks more secure. More miners- more high security of the network.

@Rob

1. High availability reinforces security in the network and trust in the network. By always being on, it ensures that there is someone always available to verify and approve a transaction.

@crypto-joe

1. It important to maintain network 24/7/365 to maintain consensus of the blockchain.

@sats4all

1. Why is it important for blockchain networks to be high availability networks? If many people / companies runs the network, it will stay safer.

@cryptocrom

1. Blockchain networks need to be high availability networks in order to keep them secure. The more people using, or more importantly verifying, the network - the more consensus can be had and therefore more security, reliability and trust in and of the network.

@Steffen

1. if more participants are mining the network security will increase. Mining protects the network.
   mining-incentive is insured by rewards.

@almanat

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

@Samore

1. People want to make money, globally, on local time.

@CliffC

1. Why is it important for blockchain networks to be high availability networks?
   Blockchain is a global infrastructure that is only as strong as its active network which requires it to be available 24/7 365 days and if not highly available less money would be produced, people are incentivized to keep the network alive.

From the usage point of view, we need to have the network online at all the times. That way every person in the world can use it at any time. This is very important when it comes to money.

[Mauro]

@Brenda

2. The exact same database is duplicated over many computers

Yes. But that does no secure the network. The network becomes secure because of the minning, which is financially incentivized. And the security gives us high avaliability in itself.

[Mauro]

Very good and detailed answers. Keep up the great work.

[Mauro]

@wfells

1. Providing a global network need 365 24hrs a day availability and To be up and running so people can make money.

And transact money.

[Mauro]

@RachelHatton18

2. What is it that enables blockchain networks to have such high availability?
   I think it’s mining that enables the blockchain networks to have high availability?

Correct. And mining is incentivized by block rewards.

[Mauro]

@KennyMcCormick

To be more accessible to the population?

Yes. Many people can’t transact globally because the banks are not allowing them. With blockchain, even kids will be able to send the money accross the world.

[Mauro]

@Pkgno1

For example the stock markets are only open mon-fri 9-4.

Yes. Even the banks are closed during the weekend.

[Mauro]

@Prophet79

2. What is it that enables blockchain networks to have such high availability?
   24/7 access

But how? Who keeps it up? If you need soms help feel free to say so.

[itsellageee]

1. High availability networks offer increased security, alongside global transactions to be carried out at any time 24/7/365

2. Blockchain networks have high availability due to the incentives for miners to keep the network running. More miners = more security.

[cryptocrom]

Agreed, in fact that is quite possibly the only reason that all of the other points mentioned are even important haha
Cheers

[Mauro]

@mrossman1973

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.

Yes. But the main process that makes sure that the blockchain has high avaliability are miners.

[Mauro]

@Gerard_Goldski

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).

Its not just about making money. Its high avaliability makes sure that anyone can transact over the blockchain at any time of the day.

[Mauro]

@Karl

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.

@Petr_Hajdusek

1. Why is it important for blockchain networks to be high availability networks? Because more it is avaiable, more it is secure.

@Remy

1. So the network will be most secure.

@Galina

1. For security reasons.

@Raphael_VON_GAL

Q1. Why is it important for blockchain networks to be high availability networks?

• High availability provides more security through the numbers of copies between the network decentralized data, bringing more reliability using Math and consensus.

@dividale

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.

While security is important, high avaliability also enables us to have a network that can be used at any time of the day. This is very important, especially when it comes to financial transactions.

[Mauro]

@OpenFist

2 - multiple nodes in different geo locations. so no central point of failure

In bitcoin, its not about the number of nodes, but how well the hash power is distributed.