Homework on High Availability - Questions

Blockchain and Bitcoin 101
#1749

Why is it important for blockchain networks to be high availability networks?
Because it’s one of the reason it will attract many people, they want a system that can be secure and accessible at all time.
What is it that enables blockchain networks to have such high availability?
People always want to make money and in a blockchain, everyone is incentivized to keep the system alive. If one part of the network dies, immediately other parts will join because of mining incentives. So security is high. Mining is the network is protected

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#1750
  1. Why is it important for blockchain networks to be high availability networks?

It’s important for blockchain networks to be available 24/7/365 days because it can be used in for a wide range of profession activities that need to have access to clients/patients data (Hospital emergency room).

  1. What is it that enables blockchain networks to have such high availability?
#1751
  1. In order to be able to allow access to anyone, from anywhere in the world, at any point in time.
  2. Because everyone is financially incentivized to keep the blockchain network alive.
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#1752

Yes, we are in 2020, there shouldn’t be any down time, or “come back Monday” like banks.

How about this question?

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#1753

  1. High availability is important as the world never sleeps, therefore, the network never sleeps.

  2. A world wide network of miners constantly working together meaning there is always availability to process information even when some of the network might not be absent for whatever reason.

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#1754
  1. To get necessary information 24/7 for any amount of users at any time
  2. Huge Network of computers together enables blockchain network for hight availability
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#1755

  1. Access to data is required 24/7 365 which requires the network to be running 24/7 365 i.e. highly available.

  2. A decentralised network running on incentives, if part of the network drops others are incentivised to fill the gap.

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#1756

Yes it would. If the only thing that keeps the network alive is block rewards and low fees, the network would probably end at some point. We have an interesting example from ethereum. It has no max supplly. This means there will always be an incentive for block rewards, and the fees could relatively be very small. Great question. :slight_smile:

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#1757
  1. In order to have access by anyone & anytime 24/7/365
  2. High availability is achieved by NEW BLOCKS (NODES)= (which are made by MINING=> which gives INCENTIVE= MOTIVATION= reward (money)
#1758
  1. because they run round the clock and any downtime will be very costly.
  2. incentives make blockchain networks to be highly available.
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#1759

Nodes are the programs that store the blocks that anyone can query at any time :slight_smile: from your answer it seems like you think nodes are the same as block. Sorry if I misread your answer.

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#1760

  1. It’s important because these networks are global and are meant to host all sorts of applications that rely on network being available at all time.

  2. Blockchain networks have such high availability thanks to their decentralization. There are many computers involved in running the network so whenever one computer drops, another can quickly come and take their place.

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#1761

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

    • Trust in the network and making money.

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

    • Incentives to mine and make money, this insures that the network is always running.

(Who doesn’t want to make money 24/7/365)

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#1762
  1. In case of an emergency in a region or internet connection gets compromised other computers will jump on line because mining is easier.
  2. Mining difficulty lowers if other computers go off line. Incentives
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#1763

  1. Why is it important for blockchain networks to be high availability networks?
    Because the security of the network depends on the availability of the blockchain

  2. What is it that enables blockchain networks to have such high availability?
    This availability is achieved through financial incentives. Maintaining the blockchain available at all time allows you to earn money

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#1764
  • Why is it important for blockchain networks to be high availability networks?

    • When it comes to the financial it is crucial for it to be highly available or else it would be useless as a payment method.

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

    • It is not depending on a single server or a single place in the world. If the entire network dies in lets say Europe, it will still run everywhere else on the earth.

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#1765
  1. Why is it important for blockchain networks to be high availability networks?

To keep trust in the system the network must have many available nodes.

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

The individual nodes of the network are incentivized to maintain their availability.

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#1766
  1. Why is it important for blockchain networks to be high availability networks? Because a global system needs to be available at all times and in all places. 2. What is it that enables blockchain networks to have such high availability? The highly incentivised system of mining to create all new Bitcoin ensures constant availability.
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#1767

  1. This keeps the network functioning.

  2. There are miners ready to replace miners that quit the network. Therefore, maintaining the network and hash rate.

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#1768
  1. Because you do not want the network to go offline and not be able to transfer value
  2. Miners are incentiviced to keep the network alive. When a miner stops immediately other miners will start mining. Little miners mean low difficulty and low security. Many miners mean, hihg difficulty and high security
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