Homework on High Availability - Questions

ad.1. Becase it has to be avaible for people around the world
ad. 2. Incentives

  1. Why is it important for blockchain networks to be high availability networks?
    Corporations demand networks to be on for 2/7 365 days a year. Running several bitcoin nodes all over the world will make this happen

  2. What is it that enables blockchain networks to have such high availability?
    Incentivizes miners to participate securing the network.

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  1. It is essential for blockchain networks to be highly available because of the decentralised nature of the network. There is a global, vested interest in ensuring that the network is highly available due to the common global need to make money.

  2. The vast number of computers on the network ensures its security and its high availability. If some computers are down, the other computers can step in to ensure no interruptions to the network.

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  1. Because we may need to run it at any point in time, since it is a global database.

  2. Incentives provided by blockchain network leads to high availiblity

1. Why is it important for blockchain networks to be high availability networks?
Because it is used on a large scale, the availability is crucial. Also if the network does not provide high availability maybe the network does not have enough participators or is just too centralized.

2. What is it that enables blockchain networks to have such high availability?
The decentralized nature of the network. The more participators the network has, it becomes less probable that the network goed down because there are allways enough participators that can hold up the network.

  1. It is important for blockchain networks to have high availability because it is global.

  2. Incentives, and the mining is what enables blockchain networks to have such high availability.

  1. Why is it important for blockchain networks to be high availability networks?
  • Being available 24/7 makes it usable anywhere in the world at anytime. many computers are linked together from different parts of the globe. It also incentives money makers to deal with crypto currencies since it’s a non-stoping market.
  1. What is it that enables blockchain networks to have such high availability?
  • Miners keep the network running and have an incentive program, being compensated to support the networks as a reward.
  1. Because they are used to transports value, money.
  2. The decentralization… having the info replicated in many nodes of the network
  1. Why is it important for blockchain networks to be high availability networks? High availability means that the network or application is available 24/7/365, which is one of the key requirements for financial applications
  2. What is it that enables blockchain networks to have such high availability? It is a distributed network so there are , at any one time, a network of nodes that are running the protocol on a global scale.
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  1. Why is it important for blockchain networks to be high availability networks?
    to insure reliability and availability
  2. What is it that enables blockchain networks to have such high availability?
    The financial incentive ensure that the blockchain will be available at all times

Why is it important for blockchain networks to be high availability networks?
High availability refers to being able to access the network on any day at any time, day or night, no matter your location on the globe. The blockchain network is truly global with computers and nodes connecting and disconnecting to the network all the time. Financial systems and supply chains are in constant action and that’s necessary for the globalized economy we have in 2019.

What is it that enables blockchain networks to have such high availability?
The blockchain infrastructure is available 24/7/365 because miners are incentivized to keep it alive. When difficulty of the network is lower for some unknown reason, the rewards are larger and that incentivizes miners to join the network thus raising security. The converse is also true. When difficulty increases due to a larger number of miners for example, it takes more effort to gain the reward and so some miners may drop out if they cannot make money. We all want to make money. With many miners protecting the network it becomes highly secure and always available. The decentralized infrastructure is insurance against catastrophe and assures that the network remains alive.

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

It would not be useful when you need to make a transaction that you just have to hope that the network is running on that moment. You must be able to count on it availability when you need it.

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

People are incentivised to keep it running by their need and will to make money. If some part of the network goes offline then others will take over because the mining difficulty will adjust.

  1. Blockchain networks must be high availability networks because for a user to trust and utilize the network, they must know that the network will be running and available at all times for them to use. Otherwise, it reduces their trust in the protocol, and reduces the incentives to participate.

  2. The high availability of blockchain networks is due to their nature being distributed across many different computers, and the use of mining to maintain the current state of the blockchain. This means that even if one or many computers go down, the blockchain is still up and available to be used.

  1. For everyone to be able to use blockchain to transact, audit, verify the honesty of the network and keep track of everything.

1- To ensure its security, dependable, been able to perform transactions without delay
2- Miners are incentified to keep the network up and running

Homework on High Availability - Questions

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

Because when some nodes will take down others will join to hold network and it is important to keep network all the time online to be able to do all the actions that we expect from it like auditing, adding data.

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

Everybody can join and get incentives for mining and through posses coins we naturaly want to keep our networrk alive.

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

It’s important for reliability and usability. Blockchain operates 365 days a year, 7 days a week
and 24 hours a day.

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

Computers on the network mine blocks. If some computers leave or have a power
failure then other computers can take up the slack.

  1. Reliable, safe, secure and trusted platforms/infrastructure will be preferred to unreliable systems reduce downtime, loss of revenue and productivity.

  2. The network participants gain revenue/incentives through competing in the network, which results in a stable and secure network increasing value in the long term.

1.it’s important cause everyone want’s to make money 24/7
2.cause if a part of computer network goes down will be immediately replace

  1. To have a financial system that is always able to log transactions, it can never die, since their users are incentivized to keep it alive.

  2. The fact that the masternodes are always up and mining.