Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2069

  1. Why is it important for blockchain networks to be high availability networks?
    -The blockchain networks span the globe. Because of this, when one part of the world is sleeping the other is accessing the network. It therefore needs to always be available and highly available for real time data access.

  2. What is it that enables blockchain networks to have such high availability?
    -It’s decentralised nature enables anyone to be a part of it through mining and to speed up the process of people wanting to and actually joining, incentives have been put in place to benefit those that join.

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#2070
  1. Blockchain networks need to be high availability networks to enable reliable and scaleable usage.
  2. Blockchain networks have such high availability because they are decentralised. If one part of the network goes down, other computers will immediately join the network.
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#2071
  1. Why is it important for blockchain networks to be high availability networks?

As they BC are global networks they want to be always available from any part of the world as they are incentivized and getting rewards all the time.

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

The incentives that have the BC are measured in money, if any of the actors left the network within the mining process, the mining difficulty will decreased so there are always actors that will want to participate because the great rewards no matter what.

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#2072

  1. It is important for blockchain networks to be high available networks because a secure global infrastructure is needed.

  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.

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#2073

Homework on High Availability - Questions

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

continued and available access to the data on the network 24/7/365 no downtime to network ensures continued success of business. if you cant access data you cant run a successful endeavor.

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

network of miners and stakers keeping system up and running through incentivized rewards for such actions

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#2074

  1. It is important because it allows the use of the network to be provided 24/7 365 days a year. This is valuable because you can always rely on it being available.

  2. blockchain networks incentivize for miners or other computers in the network to earn money to keep the network running. This scales so that when there are a lot of computers mining, it becomes increasingly more difficult to earn money which prevents everyone from doing it. But if something happens and someone or a large amount of computers go offline then this creates a demand for more security, so to combat this, the network mining becomes easier and attracts more people to mining and thus increasing the security again and makes the network more available.

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#2075

  1. It’s important for blockchain networks to be high availability networks because they need to be available 24/7/365 if people are expected to utilize them. When talking about a global network, where users from all over the world are participating, without high availability, the network would be useless.

  2. Incentives enable blockchain networks to have high availability.

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#2076

Why is it important for blockchain networks to be high availability networks?
Because they are global networks serving all timezones, they are required 24/7/365

What is it that enables blockchain networks to have such high availability?
Financial incentives

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#2077
  1. To incentivize use and security.
  2. Incentives.
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#2078

  1. Because high availability also provides a better solution for companies, where e.g. a database should be available 24/7. For a currency (like BTC) high availability is required for higher network effect (more people would like to participate). If more people are involved, then the blockchain’s security also increases.

  2. The network is decentralized (if one part of the network stopped by any reason, it will not affect the blockchain’s stability (new participants will come to stabilize the network). For a centralized database there is a possibility to lose the database by any reason (e.g. malfunction of the centralized computers, etc.).

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#2079

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

  2. In order to be more secure and to process as many transaction as possible.

  3. What is it that enables blockchain networks to have such high availability?
    2.incentives, they are the best way to get people focus on availability of the system.

1 Like
#2080

[quote=“ivan, post:1, topic:8426”]
mework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    Because if databases rely on consensus. Being down injects the consensus paradigm with security risks.

  2. What is it that enables blockchain networks to have such high availability?
    24/7 availability and the reliability of consensus, and the fact that it is highly incentivized to do so.

1 Like
#2081
  1. Why is it important for blockchain networks to be high availability networks?
    So everyone can use the benefits of it anytime and anywhere.
  2. What is it that enables blockchain networks to have such high availability?
    Financial incentives.
1 Like
#2082

Because they fulfill a vital role, it would be catastrophic if people were unable to access their value.

Incentive$

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#2083

1.) High availability makes make blockchain operate and be available 24/7/365 days a year so it is more powerful and more secure.

2.) Blockchain being a incentivized system, (incentivized by money through transactions) makes it so if a group of computers went down somewhere in the world, another group of computers could & would take their place and be able to get a copy of the ledger from the other computer nodes and pick up the ledger from the other nodes left in the system.

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#2084

  1. Why is it important for blockchain networks to be high availability networks?
    It allows Txs to happen at any time, and since its a global network and we have different time zones, plus the exchange of information is a 24/7 necessity, having this kind of network is vital.

  2. What is it that enables blockchain networks to have such high availability?
    The nodes and the assumption that everybody wants more money, keeps the network running through an incentive system.

1 Like
#2085

1.) It is important for blockchain networks to be high availability networks because that makes them easily accessible for any person, at any time.

2.) To put it simply, people want to make money, that is why it was made to have such high availability. Correct me if i’m wrong, but blockchain networks are able to sustain this availability because there are multiple servers, each with its own copy of the ledger.

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#2086
  1. Why is it important for blockchain networks to be high availability networks?
  • Because of redundancy. You want the network to be online when you need it.
  1. What is it that enables blockchain networks to have such high availability?
  • Incentives, decentralisation of computing power offers redundancy against for example regulation or natural disasters.
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#2087

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

It’s critical for security that Bitcoin remain a high availability network

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

The way miners are incentivized to verify blocks enables blockchain networks to have such high availability. They are incentivized to make money. If miners drop off others will replace them continuing the high availability.

1 Like
#2088

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
  • For access 24/7/365
  1. What is it that enables blockchain networks to have such high availability?
  • Miners/Incentives
1 Like