Homework on High Availability - Questions

Blockchain and Bitcoin 101
#61

Because its good for our society with the provenance and consensus
Because everyone want to make money

#62

1- To guarantee the access of everybody on the network 24/7 and make use of its goods.
2- Incentives makes the Blockchain network high availability, on bitcoin its miners are an example of the ones who keeps the network on and working, they receive bitcoin for their job.

#63

  1. As a global infrastructure, it’s vital to be up 100% of the time.

  2. incentives

#64

1.Why is it important for blockchain networks to be high availability networks?
To give a continuous service for it’s users.
2.What is it that enables blockchain networks to have such high availability?
Monetary incentive.

#65
  1. Why is it important for blockchain networks to be high availability networks? Blockchain networks must maintain the same level of availability as it’s users because money never sleeps. People live in countries around the world, in different time zones, therefore, transaction verification must take place 24 hours a day, 7 days a week and 365 days a year.
  2. What is it that enables blockchain networks to have such high availability? The infrastructure of the blockchain network is always on line 24/7, 365 days a year. The incentives associated with mining also allows for financial increase.
1 Like
#66
  1. Because it needs to serve people and businesses on a global scale at all times.
  2. Incentives make sure there are enough miners to keep the network running
1 Like
#67

  1. High availability is good because it runs 24/7 it never stops. So it is always open to use.

  2. Everyone is incentivized to keep it at high availability because everyone likes to make money

1 Like
#68

1.+2.) Incentivation and self-interests aka money keeps the network alive, so people/miners don’t want to miss that and take care to have a high availability network.

1 Like
#69
  1. Why is it important for blockchain networks to be high availability networks? It allows consistent access and high security.
  2. What is it that enables blockchain networks to have such high availability? People are incentivized to become miners which allows for 7/24/365 access. Even as mining wanes other people will be enticed to enter and mine (ensuring availability)
1 Like
#70
  1. Because many use cases require that products and services can be accessed 100% of the time and that there is not single point of failure that would bring down the site or service. Also high availability prevents any one individual or company from bringing down a service.
  2. Networks are maintained by computers running nodes for the network. There is a built-in incentive to keep the network working so as nodes drop off the incentive to create new nodes increases, thereby perpetuating the development of a highly available network.
1 Like
#71
  1. Why is it important for blockchain networks to be high availability networks?
    High availability allows the blockchain network to wor 24/7, which is important for financial transactions to work and blockchain currency to be available all the time all around the world.
  2. What is it that enables blockchain networks to have such high availability?
    High availability is enabled by incentives through mining. Miners are rewarded with cryptocurrency for keeping blockchain nodes running.
#72
  1. If it is to be used as a storage and transfer of wealth system that is trusted by all users then you would need access all of the time.
  2. Many many computers running the mining all over the world by people who make money for doing it.
#73
  1. high availability= high security
  2. Incentives to make money or some kind of reward
#74

Homework on High Availability - Questions

1. Why is it important for blockchain networks to be high availability networks?
For the global use case as money, availability is crucial for the usefulness of the purpose itself. Moreover, on blockchains in general, availability is part of trustlessness: unavailability means no-one is securing the network and lone wolf’s could be mining whatever blocks on their own. Since the longest chain prevails, availability means chain security, which is the base layer for immutabiltiy, which in turn is the base layer for trustlessness, which is the base layer for the very purpose of existence of blockchain.

2. What is it that enables blockchain networks to have such high availability?
Economic incentives: being there all the time increases your chances of getting rewarded for being there.

#75
  • Why is it important for blockchain networks to be high availability networks?
  • in order to continuously secure the verification/ consensus process.
  • What is it that enables blockchain networks to have such high availability?
  • the nodes get incentives to operate full time.
#76

  1. Because it is a global network that must be available 24/7/365 so individuals and organizations can access it at anytime.

  2. Miners are incentivized to keep it alive and protected.

1 Like
#77

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

The importance of the network being available is necessary so the we can communicate the transactions on a day to day business.

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

This allows everyone to send and receive data. Because the network is advanced it allows information to be expedited.

#78

1 to keep it alive

2 Money = huge incentive. Therefore we are all interested to keep it alive.

–> You are not explaining this very clearly in the video.

#79

Why is it important for blockchain networks to be high availability networks?
It needs to be reliable and available when needed
What is it that enables blockchain networks to have such high availability?
Adjustable rate for difficulty

#80

High availability ensures security and computational power to secure the network.

Incentivisation gives the network high availability.