Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2089

  1. New registers can be done and checked at any time as the demand occurs.

  2. The incentives to keep the validation process.

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#2090

1.It is very important to have high availability since in many cases, such as finances and different time zones, it would cause problems for mass adoption
2.Incentives to keep the network running

1 Like
#2091
  1. Why is it important for blockchain networks to be high availability networks?

The reason that blockchain needs to he highly available is because it requires minors to generate bitcoins

Without high availability this will not be possible, with mining this is also how we protect the network.

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

If one node goes down , there is a copy of the ledger on all of the other machines

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#2092

  1. They are running 24/7/365 so transactions can occur on anyone’s schedule anywhere in the world.

  2. Incentives for individuals to maintain the network is what enables the blockchain networks to have such high availability.

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#2093
  1. Its important in order to be a legit financial protocol in which you can rely on.
  2. If the network crashed in one side it will catch up/engage in other side to create a balance
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#2094

  1. If transactions are to happen at all times, the network must be available at all times. If the network is not available at all times, the network may become congested and perform purely, and at that point is also vulnerable to being attacked.

  2. Miners, which are a distributed, uncorrelated network of computers and other specialized hardware, allow for blockchains to have a 100% up-time. Its like a computer having 1000s and 1000000s of power sources, all around the globe. If one or many power sources are unplugged, the computer will still have other sources of power to continue operating.

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#2095
  1. it is important for the network to have high availability in order to meet the global demands
  2. what enables blockchain networks to have high availability is the financial incentives for miners rewarding them for transaction verified
1 Like
#2096

  1. Because high availability increases the security of the network.

  2. mining rewards.

2 Likes
#2097
  1. So everyone can use them at any time.
  2. They are incentivized to keep the network alive.
1 Like
#2098
  1. It is important so that everyone participating in the network could be assure that it will never go down and that the data are safe.
  2. Mining enables high availability to hole network.
2 Likes
#2099
  1. First of all, it has been the longest-running network. It has incentivized so many people to make money. It is a 24/7 money machine ; that is why high availability is essential; it has become a global financial system.
  2. Mining enables high availability for the blockchain network. If a portion of a network has an outage, others will join the network to keep it viable.
2 Likes
#2100
  1. It’s important because everyone is incentivize making the network running 24/7.At the same time everyone can have access at the network at any time.
  2. The nodes. A lot o people mining getting incentivize and making the network active 24/7/365
2 Likes
#2101
  1. Why is it important for blockchain networks to be high availability networks?
    Because it is global network
  2. What is it that enables blockchain networks to have such high availability?
    People an incentive to make sure that the network is protected and secure because they make money off of it.
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#2102
  1. Reliability and security.
  2. Incentivized participation.
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#2103

  1. So people all around the world can use it, doesn’t matter what time of day, 24/7/365 High Availability of the Blockchain network, which is awesome.

  2. The nodes & mining all around the world, the incentives, everyone wants to make money, which unites us all on the same path & goal. Like u said, even the companies that virtue signal how good they are, it is still all about the money. Follow the money.

2 Likes
#2104

1.Because everyone is globally using the network at different times. If it shuts down, other networks go down too.

  1. The mining makes it have high availability. The incentive to make money.
1 Like
#2105

  1. Why is it important for blockchain networks to be high availability networks?
    The Block Chain is available for use non stop. It has never shut down and will never shut down due to continuity of the internet. If someone goes off line, someone will come on line to fill the void.

  2. What is it that enables blockchain networks to have such high availability?
    See answer above about continuity of active participants. Also incentives in tasks performed in confirmation of data or mining provide income for those who participate and confirm the validity of the decentralization of the ledger.

1 Like
#2106
  1. Why is it important for blockchain networks to be high availability networks?
    Because that’s whats needed to be reliable. It’s also much better than banks since banks are closed in weekends in general, but miners want to make money every day of the weeek which makes the Bitcoin network available 24/7
  2. What is it that enables blockchain networks to have such high availability?
    It’s because the miners have an incentive to be online. And when a miner shuts off, the hash difficulty drops and new miners enters the network since it’s easier to mine.
1 Like
#2107
  1. They need to always be available when people want to use them.
  2. The blockchain is shared globally.
1 Like
#2108
  1. Being a global system, it is important that the network is available at all times for anyone to use. Also, high availability increases the security and consistency of the blockchains online status. An economy of practicality arises where miners will come and go based on the profitability of mining, so if a node or group of nodes goes offline, new miners will take their places in the network.
  2. The high availability lies in the ability for anyone to participate in the system and the financial incentive for doing so. The network never goes down because if the number of miners decreases, the profitability of mining goes up. This naturally produces a continuous network of miners contributing to the system.
1 Like