Homework on High Availability - Questions

Blockchain and Bitcoin 101
#2109

Why is it important for blockchain networks to be high availability networks?
One aspect is the use cases that especially Bitcoin may try to solve in being the “new” money that we want to store value in and/or exchange value with. That use cases with other future ones may benefit a lot from the high availability.

The other maybe more important aspect is the security of the entire network. Where the Bitcoin networks security depends on actors that participate in a “mining” operation with its CPU power to make the network highly secured. The network want to see as many “miners” as possible to work and solve the math problems to secure the network without any significant drop or downtime where security may then have a higher probability of being compromised.

What is it that enables blockchain networks to have such high availability?
The algorithm that Bitcoin run on will adjust the difficult levels on the “math problem” on the mining operation so that if a big group of mining CPU power will for whatever reason drop suddenly it will adjust the difficult of mining down so that more actors will find it profitable to start doing mining operations. This adjustment will prevent the Bitcoin network to lose its securing mining operation for any longer period of time.

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#2110

  1. It ensures that people have access to their assets all the time any where and everywhere.

  2. Incentives, miners are incentivized to keep the network working for their benefit and the benefit of the users.

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#2111

1.- Most be running 24.7.365, it´s a global database.
2.- It incentive everyone who gets involve, and it´s security.

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#2112
  1. Why is it important for blockchain networks to be high availability networks?
    High availability networks give people a sense of security and trust that it runs 24/7/365 so you know you can make your transaction anytime and anywhere. It is important to incentivize network participants to keep the chain running.
  2. What is it that enables blockchain networks to have such high availability?
    Blockchain networks allows all participating parties to own a copy of its database and gets sync every time a new transactions / block is broadcasted. They want to keep up with the chain in order to make money and more participants = more security.
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#2113
  1. Why is it important for blockchain networks to be high availability networks?
    Answer: When you are running something as important as financial transactions, supply chains, or healthcare systems, you need to be running 24 X 7 X 365.
  2. What is it that enables blockchain networks to have such high availability?
    **Answer: ** The network has a built-in incentive structure that encourages miners to participate in the network by either increasing or decreasing the difficulty to participate/mine based on the needs of the network. If the network goes down in one area, the difficulty drops, thereby incentivising miners to participate and earn profits.
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#2114
  1. In Financial transcation world people can need money anytime, So it has to be available all the time
  2. mining and other incentives
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#2115

  1. It’s crucial that the global network is available and transactions validated 24/7/365 as this ensures the security of the network and allows users access at any given time.

  2. Everyone wants to make money. Mining enable the high availability of the network, if the network is down on one end, it will be replaced on another end. Also, miners are incentivized as they make money by keeping the network available and verifying transactions.

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#2116

  1. High availability is important so that blockchain can be used reliably for transactions around the world.

  2. High availability is made possible by the large number of nodes, who are incentivised to participate. This is stabilised by making the difficulty of mining greater if a large number of nodes are participating, and lower if fewer are participating - so that if a lot of nodes suddenly drop out, more people will be incentivised to quickly take their place.

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#2117
  1. If you wanted to buy something but the network was down then its useless. It would be like trying to trade stocks while the market is closed for the evening. But because it is available 24/7/265 it becomes extremely useful.
  2. Because nodes that store the blockchain are everywhere. If one node went down there are thousands of other nodes to process transactions. As opposed to having one centralized server, if that one server went down, your screwed.
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#2118
    • Blockchain networks need to be highly available to keep the infrastructure going and make it secure.
    • Blockchain networks incentivise miners to add computer power by rewarding them with monetary gains. The more miners the more complicated mining becomes, the less miners, the easier mining becomes thus never leaving the network without enough computer power
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#2119

  1. Because a financial system, like Bitcoin’s blockchain, requires 24/7 uptime. Money is transferring hands around the world every second of every day.

  2. incentivized mining through monetary rewards creates a system where miners want to be working 24/7

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#2120

  1. To incentivize the use of the network in a global scale, to increase the productivity and reliance in the services provided by the network.

  2. The quantity of nodes and the incentives to keep the system going.

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#2121
  1. For the trust and security, has to be used 24/7/365
  2. Incentives. POS or POW that attracts miners or holders to keep the network up at all times
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#2122
  1. High availability or 24/7/365 infrastructure is KEY for the growth and value of the network. Everyone is incentivized to keep the network alive/online. This is highly important for an International network system. Mining and trading creates an environment of high availability.
  2. Making money internationally, through incentives such as the mining algorithm as well as a 100% up-time trading market free from borders and gatekeepers, are what enables such high availability in the network.
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#2123

Why is it important for blockchain networks to be high availability networks?
In a global world it is extremely important for the blockchain network to have high availability for anyone at any time and anywhere to be able to use the network.

What is it that enables blockchain networks to have such high availability?
The reward protocol for keeping the network running (mining process)

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#2124

  1. Why is it important for blockchain networks to be high availability networks?
    businesses need to operate 24/7, when networks go down people lose money

  2. What is it that enables blockchain networks to have such high availability?
    Blockchains are incentivized, people have a financial interest in keeping
    the network up and running

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#2125
  1. to Be high availability networks means a high level of security which allow a high numbers of participating 24/7/365
  2. Incentives of network actors wich create a strong feedback to keep the net aviable.
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#2126

  1. To keep the network running 24 hours a day 7 days a week. We need a network that can be accessed at anytime, all the time.

  2. It’s well incentivised and it runs on a global network. If computers go down in one part of the world, it’s going to be running on the other side.

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#2127

It is important for blockchain networks to have high availability so that it can be accessed any time, anywhere and by anyone.

The decentralized nature of blockchain networks enables it to have high availability.

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#2128
  1. High availability is important in blockchain networks because of its globally accessible database that has 24/7 activity.
  2. Blockchain has such high availability because all miners are incentivized to keep the network going.
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