That’s it. Great answer! 
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High availability is important for block chain because people can trade at any moment. With a lot people interaction in network, more secure it will be. If it fails, people will search for other solutions
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It is symbiotic relationship between mining and mining difficulty rewarded through incentives, which creates a stable and high availability blockchain network
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Thank you, much appreciated !
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If blockchain didn’t have high availability it wouldn’t be any better than a bank ledger since banks close at a certain time and on the weekends. Bitcoin runs 24/7 365.
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The bitcoin blockchain has nodes world wide to secure the network.
Being able to process blocks of new information 24/7/365 is imperative to the success of the blockchain and its amazing accounting ledger.
Incentives for the Miners / Node Operators to process the block verifications.
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- The security and functionality of the system depend on it. Money doesn’t sleep
- Miners are incentivized financially
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Why is it important for blockchain networks to be high availability networks?
My answer: High availability is a value for networks as such. If a network is not highly available, it will by nature have less (or a decreasing number of) participants which will in turn decrease the network effects (which could end in a death spiral). -
What is it that enables blockchain networks to have such high availability?
My answer: High availability (24/7, 365) is made possible through incentives. E.g. financial incentives let a high number of miners keep the network alive.
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1- financial networks that are not high availability are useless.
2- the network has a lot of nodes and all have the same information!
- Financial transactions, business operations globally on different time zones, and efficiency.
- Distributed databases that are incentivized, nodes all over the world.
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- Why is it important for blockchain networks to be high availability networks?
So it is running 24/7/365 - What is it that enables blockchain networks to have such high availability?
The urge to make more money.
Hi there! Correct, but we still have immutability, and a bank ledger doesn’t !
And what makes this nodes stay online 24/7?
And besides having the same information, what makes the nodes stay online??
No downtime is important for continuity and confidence.
Lots of nodes, lots of incentives, lots of enthusiastic zealots
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1: So that transactions made on the blockchain can be verified quickly and to increase the security of the whole network.
2: miners, (in a Proof of Work blockchain) or stakers/ masternode holders (in a proof of stake blockchain) because they are incentivised to keep their nodes running 24/7 to earn block rewards.
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1.To keep the blockchain secure.
2.Incentives.
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The nodes stay online by people willing to verify transactions and getting paid fees for it and the miners trying to solve the algorithms to win the block reward.
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Correct, but why is this important, lets say, for businesses?
Who makes more money?
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Blockchain networks need to be high availability so that transactions get verified at all times. In bitcoins case, as a store of value, you need to know if the wallet has the funds it says it does when transferring value from on user to another.
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Financial incentives through mining blocks is what allows the network to have such a high availability rate throughout the world.
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- Why is it important for blockchain to be a high availability network?
As a global decentralized network being available 24/7/365 is crucial to it’s usability and success. - What is that enables blockchain networks to have such high availability?
A global decentralized network of nodes that receive incentives to come to a consensus.
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