You can’t do 1 second blocks times on POW because you will get tons and tons of reorgs. Basically some pool might find a block at the same time as another but they are delayed in sending the hash to the network and the other block can get accepted while they find another block right after and the block prior gets reorged with the higher block number. Hence why it’s not good having very low block times.
There is also issues of space and bandwidth. Many have already tried this and failed. Like BSV with their huge 1Gb block (or some other high number can’t remember). Nobody would want to run a node.
Topic: Is there a way for us to reduce the block time of POW coin to 1 second? (Read 68 times)
August 20, 2023, 10:55:21 PM
August 20, 2023, 09:50:27 PM
In my opinion, there are many reasons that restrict the performance of POW coin, such as bandwidth, storage space, memory size, CPU performance and so on. But these are not the most critical factors, the block time is the key factor.
Nowadays, most POW coins are packaged by a very small number of mining pools and large miners. However, we do not think that this will weaken the decentralization and security of POW coins. So can we also think that even if running a full node requires higher-performance hardware, making most PCs unable to run a full node will not weaken decentralization and security too much.
If the above assumptions are correct, then bandwidth, storage space, memory and CPU performance are no longer bottlenecks, and we can significantly increase the block size to improve TPS. For example, if we limit the annual storage space growth of the blockchain to less than 100T, then it is possible to get 10,000 TPS.
In this case, the block time will become a bottleneck. If the block time can be shortened to 1 second, the transfer process will be very smooth. Imagine that the TPS of a POW coin is 10,000, and the block confirmation time is only 1 second, how exciting that is!
So, is there a way we can get the block times so short?
Nowadays, most POW coins are packaged by a very small number of mining pools and large miners. However, we do not think that this will weaken the decentralization and security of POW coins. So can we also think that even if running a full node requires higher-performance hardware, making most PCs unable to run a full node will not weaken decentralization and security too much.
If the above assumptions are correct, then bandwidth, storage space, memory and CPU performance are no longer bottlenecks, and we can significantly increase the block size to improve TPS. For example, if we limit the annual storage space growth of the blockchain to less than 100T, then it is possible to get 10,000 TPS.
In this case, the block time will become a bottleneck. If the block time can be shortened to 1 second, the transfer process will be very smooth. Imagine that the TPS of a POW coin is 10,000, and the block confirmation time is only 1 second, how exciting that is!
So, is there a way we can get the block times so short?
This is an idea we have conceptualised before, but now we don't think so, we are looking for other ways to enable instant trading and have found a preliminary solution, which we are verifying for its feasibility and security.
Could you introduce your thoughts? I'm very interested in this
August 20, 2023, 09:02:13 PM
In my opinion, there are many reasons that restrict the performance of POW coin, such as bandwidth, storage space, memory size, CPU performance and so on. But these are not the most critical factors, the block time is the key factor.
Nowadays, most POW coins are packaged by a very small number of mining pools and large miners. However, we do not think that this will weaken the decentralization and security of POW coins. So can we also think that even if running a full node requires higher-performance hardware, making most PCs unable to run a full node will not weaken decentralization and security too much.
If the above assumptions are correct, then bandwidth, storage space, memory and CPU performance are no longer bottlenecks, and we can significantly increase the block size to improve TPS. For example, if we limit the annual storage space growth of the blockchain to less than 100T, then it is possible to get 10,000 TPS.
In this case, the block time will become a bottleneck. If the block time can be shortened to 1 second, the transfer process will be very smooth. Imagine that the TPS of a POW coin is 10,000, and the block confirmation time is only 1 second, how exciting that is!
So, is there a way we can get the block times so short?
Nowadays, most POW coins are packaged by a very small number of mining pools and large miners. However, we do not think that this will weaken the decentralization and security of POW coins. So can we also think that even if running a full node requires higher-performance hardware, making most PCs unable to run a full node will not weaken decentralization and security too much.
If the above assumptions are correct, then bandwidth, storage space, memory and CPU performance are no longer bottlenecks, and we can significantly increase the block size to improve TPS. For example, if we limit the annual storage space growth of the blockchain to less than 100T, then it is possible to get 10,000 TPS.
In this case, the block time will become a bottleneck. If the block time can be shortened to 1 second, the transfer process will be very smooth. Imagine that the TPS of a POW coin is 10,000, and the block confirmation time is only 1 second, how exciting that is!
So, is there a way we can get the block times so short?
This is an idea we have conceptualised before, but now we don't think so, we are looking for other ways to enable instant trading and have found a preliminary solution, which we are verifying for its feasibility and security.
August 20, 2023, 08:04:22 AM
In my opinion, there are many reasons that restrict the performance of POW coin, such as bandwidth, storage space, memory size, CPU performance and so on. But these are not the most critical factors, the block time is the key factor.
Nowadays, most POW coins are packaged by a very small number of mining pools and large miners. However, we do not think that this will weaken the decentralization and security of POW coins. So can we also think that even if running a full node requires higher-performance hardware, making most PCs unable to run a full node will not weaken decentralization and security too much.
If the above assumptions are correct, then bandwidth, storage space, memory and CPU performance are no longer bottlenecks, and we can significantly increase the block size to improve TPS. For example, if we limit the annual storage space growth of the blockchain to less than 100T, then it is possible to get 10,000 TPS.
In this case, the block time will become a bottleneck. If the block time can be shortened to 1 second, the transfer process will be very smooth. Imagine that the TPS of a POW coin is 10,000, and the block confirmation time is only 1 second, how exciting that is!
So, is there a way we can get the block times so short?
Nowadays, most POW coins are packaged by a very small number of mining pools and large miners. However, we do not think that this will weaken the decentralization and security of POW coins. So can we also think that even if running a full node requires higher-performance hardware, making most PCs unable to run a full node will not weaken decentralization and security too much.
If the above assumptions are correct, then bandwidth, storage space, memory and CPU performance are no longer bottlenecks, and we can significantly increase the block size to improve TPS. For example, if we limit the annual storage space growth of the blockchain to less than 100T, then it is possible to get 10,000 TPS.
In this case, the block time will become a bottleneck. If the block time can be shortened to 1 second, the transfer process will be very smooth. Imagine that the TPS of a POW coin is 10,000, and the block confirmation time is only 1 second, how exciting that is!
So, is there a way we can get the block times so short?
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