Homework on High Availability - Questions

Blockchain and Bitcoin 101
#81

Homework on High Availability - Questions

  1. Why is it important for blockchain networks to be high availability networks?
    So everybody will have access to the network and database 24/7.
  2. What is it that enables blockchain networks to have such high availability?
    Incentives to the miners who keep the blockchain alive and secure.
#82

Because it runs 24 hours seven days a week 365 days a year. The longest running network and application in the world.
As a result, this provides incentives to make money.

1 Like
#83
  • Why is it important for blockchain networks to be high availability networks?
    reliability and accessability
  • What is it that enables blockchain networks to have such high availability?
    mining power delivered by a lot of computers worldwide
#84

  1. Because the more nodes join the network, the more secure and accessible it is.

  2. Because each node that joins the network has an incentive to participate.

#85

Thanks Marsrvr, I downloaded the app and started exploring it today.

I’m going to be taking courses with two other academies in tandem with with this one so this will be a huge help in organizing my notes/thoughts in a very novel way!

1 Like
#86
  1. Why is it important for blockchain networks to be high availability networks?
    • Blockchain promotes the idea of an immutable ledger as one of it’s fundamental benefits over other database structures. This means it must be available for nodal inspection and of course use by all traffic. If user traffic is hampered due to non-availability, then what would be the difference in the network being down due to censorship verse the network being down for a technical reason.
  2. What is it that enables blockchain networks to have such high availability?
    • Decentralization of full nodes distributes the ledger all over the world. If one node goes down there are many others to continue the work of the network. There is also a monetary incentive to keep the network up due to the drop-in mining difficulty as other nodes go offline, this provides an opening in the market for other miners to enter and earn money while protecting the network.
  3. Question: I’m not sure if a node is responsible for mining or just verification of the chain.
#87

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#88

Thanks for the tip, here is what I’ve been doing so far. The spiral pattern reminds me of my Ayahuasca trip :stuck_out_tongue:

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#89

Because the chances of going offline become next to zero and therefore become more reliable for even the most delicate of applications.

Mining for incentives. As soon as miners become scarce, mining gets easy and more and more parties become incentivised to start mining.

#90
  1. To guarantee security the high network availability is important.
  2. Nodes in the network receive incentives for their consensus work.
#91

  1. It is important for blockchain networks to be high availability networks for the global financial system and for other applications that can be built on top of the blockchain.

  2. INCENTIVES is what enables blockchain networks to have high availability, because everyone wants to make money, and when people are in the network mining it means the network security is high and so is the difficulty for mining.

#92

  1. Why is it important for blockchain networks to be high availability networks?
    For it to be globally accessible to the public for all transactions.

  2. What is it that enables blockchain networks to have such high availability?
    Blockchain and incentives for miners.

#93
  1. So that the service is available to all 24/7/365, unlike bank that do not work over the weekend.
  2. Miners around the globe incentivized by mining reward to continue mining.
#94

High availability ensures security (protection) and the means to make money or to be incentified to do
so.

The ability for high availability is primarily due to the infrastructure of the network and its Incentification
to those who are willing to maintain it or commit to keeping it going. Without incentification nothing
would happen.

#95
  1. Why is it important for blockchain networks to be high availability networks?
    For it to be viable it requires all networks to be available 24/7/365 year round. In the event some portions of the network go down ei power outages, natural disasters, other networks will jump up to take its place providing a worldwide reliable system
  2. What is it that enables blockchain networks to have such high availability?
    Basically it is the mining community which besides constantly providing new coins are also providing additional security to the network.
#96
  1. Why is it important for blockchain networks to be high availability networks?
  2. What is it that enables blockchain networks to have such high availability?

It is important for blockchains to be high availability networks because the more nodes are up and running, the greater the security level. More nodes allow a higher level of consensus and, therefore, security. Also, users expect a high level of availability and service.

Blockchain networks maintain high availability through mining. Mining adds more transactions and blocks to the blockchain. People can make money by mining and are therefore incentivized.

#97
  1. Why is it important for blockchain networks to be high availability networks?

Because these systems need to be available 24/7/365

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

Mining with incentives for the miners. If part of the network goes down, other computers step in to take over.

#98

  1. Why is it important for blockchain networks to be high availability networks?
    In a Global Financial System it is important for users to have access at all times.

  2. What is it that enables blockchain networks to have such high availability?
    Financial Incentives motivate availability.

#99

  1. High availability networks are accessible permisionlessly all day everyday.

  2. Mining enable blockchain networks to have high availability. If one network fails, other computers will join the network because of mining and people make money from mining.

#100
  1. It makes it possible to make money 24/7/365.
  2. Incentives. Mining makes it possible to make money and keep the security high available.