Homework on High Availability - Questions

[Emjay]

1. to keep the network secure, many computers have to logged into the network in case some computers fail.
2. because of incentive, the bitcoin, once it becomes difficult to mine, some will drop out, this drop out creates an increase in demand and the incentive increases, allowing more people to join in and mine, therefore it is always stabilized according to the need for the network.

[Alexandr_Els]

Thank you for your help, yea I made mistake

[colgate_fresh]

@ivan

• Why is it important for blockchain networks to be high availability networks?
• What is it that enables blockchain networks to have such high availability?

It’s important for blockchain networks to be highly available so that transactions can be verified between the nodes continuously.

Blockcahin networks have such high availability because of the Internet and because of mining. Mining makes money, so if one node or cluster of nodes goes down due to various factors, other nodes will replace them quickly to make more money.

[Crypto_Daddy]

1. Its important because its a global network so it needs to run 24/7

2. mining allows the network to stay strong computers will always be online to make sure network is operating 24/7

[coin999]

1. Because then the network can be used around the clock all days in a year (just like the internet itself). The old systems that only allows certain services Mon-Fri 9-17 are not that practical. Also, if the network is global you shouldn’t have to worry about time zones and where in the world you are.

2. The miners are incentivized to verify transactions no matter when or where they are. The rewards are working around the clock and anyone can see the blockchain in real time all the time.

[BobN]

Homework on High Availability - Questions

1. Why is it important for blockchain networks to be high availability networks?
   Almost like everything else, because you’ve got users who depend on it and if you want people to trust a system it has got to be there always 24/7/365(6)
2. What is it that enables blockchain networks to have such high availability?
   All the nodes involved and mining

[Boas]

1. Stability and responsiveness is a key factor in the success of blockchain technology in general.

2. Financial incentives must be great enough to attract miners. If any part of the network goes down the incentives are greater for the rest of the miners, this ensures consistency.

[Mauro]

@Jaco_Vosloo

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

• Trust in the network and making money.

From a usage point of view, it’s very important that things such as financial transactions are available at all times.

[Mauro]

@GraVeddieMusic

In case of an emergency in a region or internet connection gets compromised other computers will jump on line because mining is easier.

Correct. But why do we want for a network to have high availability?

[Mauro]

@Chamel_Bachtarzi

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

@Emjay

1. to keep the network secure, many computers have to logged into the network in case some computers fail.

Great answer! What about from the usage point of view?

[Erwin]

1. It is important for usecases and the safety of the network.
2. Because it depends on the internet and thus is available 24/7 and making profit securing /validating the network

[Maxivation]

1. Because in the world we live in, we need to have everything available 24/7/365. That is the only way a system works for the whole world nowadays.

2. The incentives to make money by helping. You get rewarded for contributing.

[Mauro]

@voconget

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

It would be better to say that nodes keep the network secure. Either way great answer. What about the usage point of view? Why do we need a network to always be online?

[henri123]

• Why is it important for blockchain networks to be high availability networks?
  It’s important to have high availability as this secures the network and people will have access to it all year and 24 hours a day.
• What is it that enables blockchain networks to have such high availability?
  It uses the incentives method to reward the miners, which then ensures that the network is always up and running, even if some computers go offline due to electricity loss etc. After all, there’s one thing in common with all the people - We all want to make money and incetives are the best way to bring people working together in a blockchain world.

[nielvosloo]

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

Because in the current fast-passed world we live in, availability is one of the most
important factors that could either make or break, not only a company, but even an
entire economy/country.

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

Because it is a completely decentralized network spanning across the entire globe,
ensures that it is available at all times as there is no central point of failure.
It would be near impossible (if at all) to bring down a blockchain network due to
this attribute. In order to ensure that it remains decentralized and secure, miners
are incentivise for their contribution and mining can be done from anywhere in the world.

[SoloDragonGG]

Why is it important for blockchain networks to be high availability networks?
Because Blockchain networks will be used to store and secure critical data on a global scale, different time zones and languages and measuring systems. As the world turns
those networks need to be available 24hrs/day with full security.

What is it that enables blockchain networks to have such high availability? Mainly the lack of a central authority and central point of failure.
The redundancy created by the network of diversely owned and operated nodes all around the world 24/day.

[TonyMorse]

Homework on High Availability - Questions

1. Why is it important for blockchain networks to be high availability networks?
   A. To attract customers to use the network
2. What is it that enables blockchain networks to have such high availability?
   A. When one node dies another will replace it. miners protect the network keeping it 24/7-365 to make money

[Hannahruta]

1. Everything is in real time and therefore needs to be 24/7/365. 24/7 is also very important for it To be considered a “global” system, it would be useless for use as a global currency or tracking system if it were in operation in line with the stock market trading hours for example.
2. The use of many nodes/miners globally. Ability for new ones to pop up with minimal barrier to entry (no central authority controlling who can mine). If one country is shut down, there are plenty of others to fill the gap.

[Mauro]

@TonyMorse

1. Why is it important for blockchain networks to be high availability networks?
   A. To attract customers to use the network

Correct. Financial transactions should be available to everyone at any time of the day.

[ludvighatle]

1. Because people are active/inactive at different times. Blockchain is a worldwide fenomenon. There is not any given time every person is awake or everyone is asleep, working or having time off. Take the stock market. It’s only open a few hours every day, and you can’t trade on days that start with “s”. Many people are working at opening times so they can’t sell when they have time off. Bitcoin and blockchain is available 24/7/365.

2. Miners are online. Keeping the network going. And they are spread to many different countries. Bitcoin has been online since the first transaction was made.