Homework on High Availability - Questions

Blockchain and Bitcoin 101
#1849

  1. If there is a desire to use the network then it must be available. A global network is likely always desired to be used so therefore it must always be available.

  2. The distribution of the network makes it very difficult for it to be unavailable. It is very unlikely that all point of the network would be down simultaneously.

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#1850

  1. Blockchain networks have to be high availability as so many people are using it all over the world and because it is there/open always, usually.

  2. Blockchain has such high availability because of mining and an incentive to make money in the network.

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#1851
  1. Because everyone needs money
  2. Mining/incentives
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#1852

  1. High availability is key for a competitive advantage over centralized systems. Blockchain networks are there whenever you need them. No bankersā€™ hoursā€¦

  2. The decentralized nature of blockchain networks running on numerous computers at any given time protects the network if part of it goes down. In other words, highly effective redundancy.

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#1853

If it is a high availability network, it allows people to make money 24/7. It is also a global network so it cannot go down so that it works for all time zones at all times.
Mining is difficult because it requires many resources, however it increases the security of the network and provides a financial reward.

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#1854

Yes. And you would be able to do the transactions at all times. :smiley:

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#1855
  1. Because critical or financial infrastructure can be built on it
  2. mining and incentives to start and/or stop mining combined with automatic difficulty adjustment
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#1856

  1. Why is it important for blockchain networks to be high availability networks?
    Because blockchain network allows people to make transactions and money 24x7x365 globally.

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain enables high availability as miners (who are spread globally) are incentivized to keep it going all the time.

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#1857

High Availability:
Why is it important for blockchain networks to be high availability networks?
Global adoption, efficient and scalable.

What is it that enables blockchain networks to have such high availability?
Incentivisation to make the network more optimal.

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#1858

  1. when there is downtime means transactions can be done at a certain point of time.

  2. incentive make the network highly available.

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#1859
  1. It is important for blockchain networks to be high availability networks because it is global and you canā€™t have downtime, business and public need/want 24/7/365 networks.
  2. Blockchain networks have high availability due to its structure ie thousands of computers/nodes around the world all acting as backup to each other.
2 Likes
#1860
  1. To increase security provided by incentivized miners
  2. The miners that are incentivized to keep it going keep it live
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#1861
  • Why is it important for blockchain networks to be high availability networks?
    Because in that way it will be operating 24/7, 365 days a year, This makes it attractive and useable for all kinds of buisnesses that need to be operating at all times. This also makes the blockchain network highly useable as a payment system.
  • What is it that enables blockchain networks to have such high availability?
    Because the nodes/miners are decentralized all over the world, and because there are so many the blockchain will always be available
1 Like
#1862

  1. Why is it important for blockchain networks to be high availability networks?
    Just like the paper and metal in our pockets, it must always be available to use, or it loses its store of value.

  2. What is it that enables blockchain networks to have such high availability?
    Mining and the incentives it financially provides to keep the blockchain running.

1 Like
#1863

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks? b
    ecause eveyone everywhere in the world has to be able to use it at all times
  2. What is it that enables blockchain networks to have such high availability?
    the miners keeping the blockchain up creating blocks and earning money/btc 24-7-365
1 Like
#1864

Homework: High Availability

  1. Blockchain networks have high availability because they are always online processing transactions and moving value across the network. This is important for security and user accessibility.
  2. Consensus mechanisms like PoW and PoS enable the high availability through incentive structures. For Bitcoin, miners are incentivized to process transactions by providing hash power to the network in return for the block reward.
1 Like
#1865

Global networks never shut down, there needs to be access always. Mining and incentives keep a network available.

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#1866
  1. Why is it important for blockchain networks to be high availability networks?

Kindly answer me . I coudnlt find more accurate or relevant answer in the forum .

  1. What is it that enables blockchain networks to have such high availability
    The only thing which enables blockchain networks to have such a high availabilty is the rewards or incentiviation .
#1867

Hello @Riteshtrivedi. Donā€™t worry! Give it a try, in your own words, and then we can discuss about it!! Do you think blockchain network should be online 24/7?

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#1868
  1. Why is it important for blockchain networks to be high availability networks?

it allows the network to run 24/7/365, and to give inventive to people contributing to the network (miners), High availability gives more incentive than low availability, therefore pushing people to contribute and run the network.

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

everybody can contribute and get reward from running the network

1 Like