Topic: Blockchain Compression - page 4. (Read 8657 times)
Has the main dev team discussed these ideas at all? I think we all see the blockchain size will increase exponentially as acceptance of bitcoin grows.
Wouldn't this work best if it was integrated into the official client as opposed to a secondary blockchain?
The idea is to make it backward compatible with all other clients. If it becomes popular, it could become part of the main standard.
From the thread, there is an intention to merge mine it. This means that every so often, there would be a block on the main chain that references the alt-chain. It also means that miners can mine both chains at the same time, so hopefully, it would have similar POW to the main chain.
Having said that, it can't give block rewards, so there is less incentive to merge mine it.
"Ultimate blockchain compression" does not compress the block chain. It's misnamed.
The most important piece of the chain is the unspent outputs set (UTXO set). This is already highly compressed using a custom compression algorithm. The rest of the chain is not compressed, but the solution to growth there is called pruning, which allows for deletion of old data.
The most important piece of the chain is the unspent outputs set (UTXO set). This is already highly compressed using a custom compression algorithm. The rest of the chain is not compressed, but the solution to growth there is called pruning, which allows for deletion of old data.
Wouldn't this work best if it was integrated into the official client as opposed to a secondary blockchain?
Why is this being done separately from the core development team?
Probably busy! Always lot's of stuff to do. And, why not?
Why is this being done separately from the core development team?
Did you see the threads about Ultimate Blockchain compression?
Here is the concept: https://bitcointalksearch.org/topic/ultimate-blockchain-compression-w-trust-free-lite-nodes-88208
And here is the current implementation in progress: https://bitcointalksearch.org/topic/fundraising-finish-ultimate-blockchain-compression-204283
Here is the concept: https://bitcointalksearch.org/topic/ultimate-blockchain-compression-w-trust-free-lite-nodes-88208
And here is the current implementation in progress: https://bitcointalksearch.org/topic/fundraising-finish-ultimate-blockchain-compression-204283
Are there any plans at some point to add blockchain compression technology to the bitcoin client? The blockchain size will continue to increase exponentially as adoption increases and will become a victim of its own success. It would seem to me adding some compression algorithms to the bitcoin-qt client would be of significant benefit and eventually an outright necessity to maintain the integrity of the system.
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