When will they accept that Satoshi's vision for Block size scaling was "outdated" and ineffective and just admit that second layer applications are the ideal scaling method, without restrictions?
Topic: Bitcoin SV to process 1TB in transactions within three years (Read 165 times)
What is the use of all that scaling, if nobody is using it? Currently some blocks in Bitcoin Cash is filled with 50 transactions at most, so the scaling is absolutely overkill and it cannot compete with Bitcoin with the Lightning Network.
When will they accept that Satoshi's vision for Block size scaling was "outdated" and ineffective and just admit that second layer applications are the ideal scaling method, without restrictions?
When will they accept that Satoshi's vision for Block size scaling was "outdated" and ineffective and just admit that second layer applications are the ideal scaling method, without restrictions?
as far as i can tell the DEFAULT_MAX_BLOCK_SIZE is already 128 MB but none of it matters when it is empty! they may as well set it to 10 million TB and still be empty! and in a year from now they would be lucky if they can have processed 100 MB of transaction ignoring the possible fake spam attacks they perform.
you can see that BCH haven't really processed that much transaction in the past year, its fork can not do any better either!
you can see that BCH haven't really processed that much transaction in the past year, its fork can not do any better either!
What size hard drives is it believed to be needed for SV's full node , once the 1TB blocks start?
Also what will be the minimum ram requirements?
FYI:
Windows Server 2016 is limited to a Volume of 64 TB
Less than half of a single day of Full 1TB blocks.
How do they plan to get around that limitation?
Or
Are they just going to say only Linux OS can run SV Full Nodes.
Since Linux supports 1EB (exabyte) per volume.
Also what will be the minimum ram requirements?
FYI:
Windows Server 2016 is limited to a Volume of 64 TB
Less than half of a single day of Full 1TB blocks.
How do they plan to get around that limitation?
Or
Are they just going to say only Linux OS can run SV Full Nodes.
Since Linux supports 1EB (exabyte) per volume.
https://coingeek.com/bitcoin-sv-process-1tb-transactions-within-three-years/
The hash war between Bitcoin SV and Bitcoin ABC is far from over. Bitcoin SV (BSV) is continuing to develop the blockchain in accordance with what cryptocurrency was meant to be—a peer-to-peer electronic cash—in an effort to ensure that crypto fulfills its reason for existence. To that end, preparations are being made that will allow the network to handle more transactions than any other cryptocurrency.
Dr. Craig Wright stated in a Medium post two days ago that BSV will be able to process as much as 1 terabyte (TB) of transactions within three years. This volume is imperative to allow a blockchain to handle the number of transactions that can rival other types of payments, including PayPal and credit card processors.
Currently, BSV blocks are limited to 64 megabytes (MB). This is going to increase to 512MB in six months and, within a year, will be as large as 2 gigabytes (GB).
Wright also asserts that miners will be able to make substantial returns within six months because of the scaling endeavors. He explained, “Bitcoin as SV will have miners earning over $8,000 a block based on use alone. That equates to $640 a Bitcoin on exchanges, and we have not factored in the gambling price of Bitcoin, just what miners will earn as a service.”
Miners should get behind BSV now to take advantage of the mining capabilities. As Wright points out, “With the Teranode project nChain will be scaling Bitcoin SV to handle over 1.0 TB within the next 3 years (aiming for 2) and growing sizes from there. At that level, miners will earn over $600,000 for each Terabyte block, and this is every 10 minutes on average.”
The crypto pioneer and chief scientist for nChain added that, within two to three years, BSV will be processing 6.5 million transactions a second. This is “Visa, MasterCard, banking in SWIFT, and ALL global currencies (not just crypto) in under 15% of a block.”
BCHSV, the cryptocurrency that was created to support the hard fork of Bitcoin Cash, has seen substantial gains over the past week. After reaching a low of around $38 on November 22, it is now trading at $103.79, according to CoinMarketCap, at the time of this writing. On the other hand, BCHABC, which represented the other half of the hash war, continues to fall. According to the latest data from CoinMarketCap, its value has dropped over 20% and continues to decline.
The hash war between Bitcoin SV and Bitcoin ABC is far from over. Bitcoin SV (BSV) is continuing to develop the blockchain in accordance with what cryptocurrency was meant to be—a peer-to-peer electronic cash—in an effort to ensure that crypto fulfills its reason for existence. To that end, preparations are being made that will allow the network to handle more transactions than any other cryptocurrency.
Dr. Craig Wright stated in a Medium post two days ago that BSV will be able to process as much as 1 terabyte (TB) of transactions within three years. This volume is imperative to allow a blockchain to handle the number of transactions that can rival other types of payments, including PayPal and credit card processors.
Currently, BSV blocks are limited to 64 megabytes (MB). This is going to increase to 512MB in six months and, within a year, will be as large as 2 gigabytes (GB).
Wright also asserts that miners will be able to make substantial returns within six months because of the scaling endeavors. He explained, “Bitcoin as SV will have miners earning over $8,000 a block based on use alone. That equates to $640 a Bitcoin on exchanges, and we have not factored in the gambling price of Bitcoin, just what miners will earn as a service.”
Miners should get behind BSV now to take advantage of the mining capabilities. As Wright points out, “With the Teranode project nChain will be scaling Bitcoin SV to handle over 1.0 TB within the next 3 years (aiming for 2) and growing sizes from there. At that level, miners will earn over $600,000 for each Terabyte block, and this is every 10 minutes on average.”
The crypto pioneer and chief scientist for nChain added that, within two to three years, BSV will be processing 6.5 million transactions a second. This is “Visa, MasterCard, banking in SWIFT, and ALL global currencies (not just crypto) in under 15% of a block.”
BCHSV, the cryptocurrency that was created to support the hard fork of Bitcoin Cash, has seen substantial gains over the past week. After reaching a low of around $38 on November 22, it is now trading at $103.79, according to CoinMarketCap, at the time of this writing. On the other hand, BCHABC, which represented the other half of the hash war, continues to fall. According to the latest data from CoinMarketCap, its value has dropped over 20% and continues to decline.
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