1,-To be a world global system used at any time in different countries. For example through a cryptocurrency, smart contracts, use of datas which can be instantly used in transactions no matter where you are or the time it is
2.-By the amount of members, if a crisis/failure appears and some miners are no more available, they will be immediately reinforced by others new miners or other existing miners which will mine more
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- To insure accessibility
- Mining
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Why is it important for blockchain networks to be high availability networks? People have access to the blockchain 24/7/365.
What is it that enables blockchain networks to have such high availability? The fact that it is decentralized and run by different nodes that are all incentivized to sustain the network.
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Why is it important for blockchain networks to be high availability networks?
If this Blockchain is the infrastructure of a global network there will be a need for 24/7/365 access. Also without 24/7/365 uptime the TRUST in the integrity of the Blockchain and itâs main attributes (Providence, Security, Immutability, Transparency, etc.) would be questioned.
What is it that enables blockchain networks to have such high availability?
The HA is due to incentives through mining. Mining is how people are paid to protect the network. If any part of the network goes down immediately other computers will join the network.
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1- Otherwise they could miss transactions or lower confidence in the service
2- The distributed nature provides high availability because even if one or more nodes become unavailable, there are many more to provide the availability
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Why is it important for blockchain networks to be high availability networks?
The function of the network is to accept transactions using consensus.
Would it be a âlow availabilityâ network, most users that ex. move value or timestamp events in a supplychain, would find it effectively useless. -
What is it that enables blockchain networks to have such high availability?
Incentives. Mining reward currently guarantees blocks to be mined, and transactions to be accepted.
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it is essential for blockchain networks to be eternally available because if the network goes down then you canât use your money, canât transfer money, and data containing transactions could be corrupted if the network suddenly went offline
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Blockchain is able to be so available because it runs on all computers all around the world because of this it has, since itâs conception 100% uptime
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A â24/7/365â infrastructure is needed to unite a global network, especially for financial applications. Incentivized participation in the network ensures the security of the network.
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In order for a transaction to be verified in a timely manner a network must be available.
There is an incentive for the miners.When a transaction is verified the miners who run the nodes receive an incentive. As human beings we tend to run more efficiently when an incentive is put into the equation.
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Why is it important for blockchain networks to be high availability networks?
- Because availability on a global scale is necessary
What is it that enables blockchain networks to have such high availability?
- Mining
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Homework on High Availability - Questions
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Why is it important for blockchain networks to be high availability networks?
Itâs the most important. If there is not high availability (i.e. blockchain running 24/7 365) then it would make it less secure, less interest, less incentives to mine) the blockchain would not function properly. If itâs not running - itâs not running. High Availability = secure network. -
What is it that enables blockchain networks to have such high availability? Financial incentives such as mining. Mining algorithms such as in BTC can go up and down based on High Availability.
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because it is accessible 100% of the time. this availability also provides redundancies, further increasing the security of the system.
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itâs decentralized nature.
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Why is it important for blockchain networks to be high availability networks?
Itâs important so that the network will continue to grow and stay alive and thus build on itâs network effects. Never having any downtime and being active 24/7/365 makes blockchain different from centralised networks. -
What is it that enables blockchain networks to have such high availability?
The financial incentive system ensures that there will always be participants wanting to be active on the network. The 2 week difficulty adjustment is something that never gets discussed when it comes to the bitcoin mining process. This adjustment ensure that whenever participants drop off, there will always be others willing to replace them.
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It is important for high availability because it is important for the health of the network and applications running on the network.
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Incentives are used to keep the network high availability.
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- Why is it important for blockchain networks to be high availability networks?
When stopped or not available, it can not be used and use request is 24/7/365, sure in payment / money situations: payment transactions must be processed, not with a delay as youâre for example are at a grocery shop to pay your groceries. - What is it that enables blockchain networks to have such high availability?
Muliple (mining) nodes: each earns rewards when solving the block âacceptanceâ math. Interesting to become a mining node. New ones increases difficulty to solve the math, when a mining node stops the difficulty lowersâŚ
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Homework on High Availability - Questions
1. Why is it important for blockchain networks to be high availability networks?
For trustworthy to always be able to do transactions 24/7/365 and immediately validate a new transactions, as itâs worldwide and the word is never sleeps. There is a possibility to stack transaction in a secondary network but the longer the main network(blockchain or Visa network) is down the bigger the risk for fraud becomes.
2. What is it that enables blockchain networks to have such high availability?
As itâs decentralized and everyone can participate to secure the network by âminingâ, and you get rewarded in crypto currency. The rewards are auto adjusted, if less people mining (securing the network) the higher the rewards is.
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Why is it important for blockchain networks to be high availability networks?
Because everyone want to make money basically. Also if you want to run other applications on top of blockchain you need it to run 24/7.
What is it that enables blockchain networks to have such high availability?
As soon as any portion of nodes/computers dies, other nodes/computers will immediately jump in because of the incentives.
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1 Why is it important for blockchain networks to be high availability networks?
Its live depend on it
2 Blockchain can be always on as copies of the ledger are globally shared. If all the systems in North America went done the Blockchain would keep running everywhere else.
*Everyone is incentivized 24/7/365*
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- Because the network is a value based network, you do not want the network to go down,
- Incentives ensure that the network is always available, if the number of nodes decrease the mining difficulty reduces and the incentives are âeasierâ to achieve.
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- Why is it important for blockchain networks to be high availability networks?
It is important to have high availability because this way the network can be used non stop by the participants and this is very important for a business to be available at all time without any downtime. - What is it that enables blockchain networks to have such high availability?
The high availability is determined by he high number of participants to the blockchain. Miners for example are keeping the blockchain going. The number of miners is determined by the difficulty of the transactions and the difficulty adapts according to the number of miners.
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