- It is important for blockchain networks to be high availability networks because they are protocols (just like the internet) that many people rely on for very important things in their lives.
- The factor that enables blockchain networks to have such high availability is mining. Mining is the process in which new blocks are added to the blockchain by the consensus mechanism. Since a normal database is run by a few central parties, they can be shut down by governments or other things (such as natural disasters). Blockchain is a distributed database, so if miners in one part of the world are removed from the network, then mining difficulty is lower and new miners are incentivized to become part of the network. When the new miners replace the old miners, the security of the network stabilizes again.
1 Like
1 Because blockchain was by design made for critical processes like the one in the financial area
2 Incentives for miners and the built-in balance between number of miners and mining difficulty
1 Like
1/ Blockchain networks need to be high availability as more computational power provides more security to the network and there is a need for 24/7 accessâŚ
2/ Blockchain has high availability as itâs sufficiently incentivised ⌠and everybody likes money!
1 Like
[quote=âivan, post:1, topic:8426â]
- Why is it important for blockchain networks to be high availability networks? - to ensure transactions can happen 24X7 and people can have access to their assets
- What is it that enables blockchain networks to have such high availability?
Each node of the blockchain has a copy of the database, if one node is down the transaction can take place on another node
1 Like
-
to ensure the functioning and maintaining high degree of security of a network. If the availability is low, the network becomes insecure, users are not confident of outcome leading to abandonment.
-
availability and practicality of running nodes; and incentives (usually of a monetary or similar nature) to keep it running
1 Like
1 The sun will always shine on some parts of the globe. For any network to be accessible for everyone, it must be running endlessly. 
2 
:greed
1 Like
- Its a global network and all ledgers need to be updated imidiately.
- The miners are incentivede to keep mining to make money
1 Like
So the data entered is available 24/7/365.
1 Like
High availability is achieved by the incentive of âminersâ to make money. If enough miners stop mining, the payout of mining goes up, which increases the incentive of new miners to start mining.
1 Like
- High availability ensures continuity of service and increases security.
- What enables high availability are a number of nodes/participants and incentives to participate in the network.
1 Like
1.) For all the use cases that need secure high availibility networks. 24/7/365
2.) Incentives like mining, staking, voting etcâŚ
1 Like
-
So it can be used 24/7 and trusted to always function.
-
Incentives to earn more bitcoin through mining.
1 Like
1 in order to be able to make money 24/7/365 there is no other network possible of doing that
also give you the alternative of track an operation all year long
2 incentives through money by mining
1 Like
[quote=âivan, post:1, topic:8426, full:trueâ]
Homework on High Availability - Questions
- Why is it important for blockchain networks to be high availability networks?
There will always be someone awake in the world who needs to transact. If you limit transactions to a particular part of the day/night, the world would have to adjust and work around the system. 24/7/365
- What is it that enables blockchain networks to have such high availability?
By incentivising the miners the blockchain will always be available. If mining does not generate enough reward, miners tend to stop. When this happens mining gets easier so more miners come on board.
1 Like
-
Blockchain is global hence needs to be always available.
-
Miners are motivated with rewards to keep the network up and secure.
1 Like
- Why is it important for blockchain networks to be high availability networks?
It is important to be able to reach and verify consensus at any time, high availability ensures immutability at any moment.
- What is it that enables blockchain networks to have such high availability?
Difficulty adjustments ensure that the right incentive is set to have sufficient miners at any point in time.
1 Like
- High availability secures the network
- High availability is made possible by incentives
1 Like
- Why is it important for blockchain networks to be high availability networks?
High availability allows for the network to be trusted and assurance needed to be tamper-proof. - What is it that enables blockchain networks to have such high availability?
The incentivization to miners for securing the network allows for high availability in the network.
1 Like
Why is it important for blockchain networks to be high availability networks?
It is important to have high availability in order for a global financial system to work. In addition to the financial system other applications can be built on top of the Blockchain.
What is it that enables blockchain networks to have such high availability?
Blockchain has 24/7 availability. Bitcoin has been the longest living Network. In past 11 years, it has hardly been offline. Why? Everyone working on the Blockchain is incentivized to keep it online because everyone wants to make money. Incentives are also important because if one of the computers dies, other computers in the Network can pick up the slack because of mining. When many people are mining, the security becomes high and the difficulty for mining is high as well. Mining is how the Network is protected and mining is also how people make money.
1 Like
- This is a global system so needs to be 24/7 365
2.incentives
1 Like