I need to run bitcoin on a Linux server in order to process transactions, but I have to increase the size of my server from my hosting company, just because the blockchain keeps growing. This means over time, I will have to continue to pay more for hosting.
Isn't there any way that the core team can re-architect the blockchain so that only the most recent 10-20% of blocks need to be stored, and enable us to delete the oldest 80-90% of blocks?
Yes it's possible. It has been discussed as an improvement for a long while. It's not implemented.
The blockchain is 27 gb. The active part is less than 800 mb.
I am working on a thin client that would use a configurable amount of space