A1. The world never sleeps, why should the network?
A2. Globally distributed network of validating computers.
- high availability means 24/7/365 up and ready to work?
- mining enables the high availablity, mining has an incentive and everybody wants to make money 24/7
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Having high availability, created a stable and secure network.
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Miners have an incentive to keep the network at a high availability.
- It’s important because the network can work without interruption, it can be used world wide
- The people who mine transaction and they are doing it because they are incentivized by getting a retribution in pow consensus
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High availability increases the security in the network, thanks to miners keeping the network online and secure. It is also important because this eliminates the time difference between different parts of the world. A true global financial solution should be available 24/7/365, blockchain is the ultimate solution for this.
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Constantly incentivized miners, computers on the network are keeping the blockchain online every minute of the hour all day all year. If some computers die, others will take their spots, because it becomes easier to mine when the difficulty drops. And everyone wants to make the profit that is due when keeping the network up and running. Win-win situation.
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it’s important because this keeps the network going. The more people want to use it the more security there is.
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Blockchain networks are able to have such high availability because it is a global network that has a incentive to keep it running. When the number of computers operating goes down more computers will come online to earn the reward making it a 24/7.
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Why is it important for blockchain networks to be high availability networks?
it is important for blockchain networks to be high availability networks because the more people that join, the more secure the network is, and the better for all users of that network. -
What is it that enables blockchain networks to have such high availability?
What enables blockchain networks to have high availabilty is the fact that it is a global system that has very little downtime.
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High availability ensures security.
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Miners have a financial incentive to ensure that the blockchain network is running continuously.
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So that we can use it to do transactions at any time of the day or night without interruptions.
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The nodes that run on the network are given incentives to keep it running 24/7/366. The more nodes on the network increases the security, therefore making more valuable.
It is important for blockchain networks to have high availability networks that support the global financial systems.
The blockchain network has high availability because it operates 24-7 365 days of the year, also everyone is incentives to keep it running.
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Because the blockchain is used to transfer value, it is critical that it be a high availability network.
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The decentralized nature of the blockchain, composed of numerous independent nodes, makes it a high availability network. The probability of all nodes going down is vanishingly small.
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Blockchain networks are used on a global scale.
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Mining helps protect the networks. Everyone is incentivized to keep it alive.
1.Why is it important for blockchain networks to be high availability networks?
So that miners can participate 24/7 all year round. Increased mining results in a more secure network.
- What is it that enables blockchain networks to have such high availability?
Incentives.
Hello,
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it incentivizes people to take part in the action, as miners or as simple users. Also, by having a 24/7 market you are not bound by the opening hours of the markets or by gatekeepers.
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high availability is the product of decentralized ledger technology. There are no central players that limit the scope and width of the operations possible. The incentives determined by the possibility of making money with mining (at least in the earlier years) promotes high availability.
Best,
- Why is it important for blockchain networks to be high availability networks?
- People want to make money, so if the network is down, they can’t make money, causing frustration.
- Blockchain network is global, running 24 hours a day.
- What is it that enables blockchain networks to have such high availability?
- Incentives and mining. Incentives pay people to support the network. Mining and getting paid is one way to support it.
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If a blockchain network will be used for global cryptocurrencies, defi, business contracts, etc. - then it is crucial for the network to have high availability with access 24 hours per day, 7 days per week, 365 days per year.
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Those who are involved in the network are incentivized to keep it running. For example, bitcoin miners are incentivized to verify transactions with transaction fees and bitcoin rewards. Anyone on the network can mine as long as they have the necessary resources to perform the mining operations. Even if some miners stop mining, and if difficulty is reduced, this will allow for other computers on the network to step in and continue mining in their place. The cycle of difficulty adjustments and incentives / rewards work together to keep the network running.
1- Because everybody can use it at any chosen time, for transactions or to verify data.
2- Incentives enable high availability that is reached through mining.
- It is important because then network is in high availability it is more trusted, more reachable and more used, and from more use come more consensus, more safety and better future for us
2.In short - money. I am also planing to buy mining equipment, have my own node… aren`t we all?
- Why is it important for blockchain networks to be high availability networks?
Is it important for a blockchain network to have a high availability in order to be accessible for everyone at every single moment. Therefore it ensures trust, reliability and security.
- What is it that enables blockchain networks to have such high availability?
Incentives
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Why is it important for blockchain networks to be high availability networks?
Because it is a global network and can be available at all times wherever you are in the world. -
What is it that enables blockchain networks to have such high availability?
Incentives for miners. If anyone drops out there is always another to start.