Well, Bitcoin is one of the most biggest Blockchain in the planet that's why they are now heavily congested.
There's no problem with a growing Blockchain because the network can handle all the stress, pressures, congestion and other blockchain network factors.
The only problem is that blockchain network shouldn't be compromised as it works like the entire multiple different systems.
Blockchain and Cryptocurrency are the best things happened in our generation today and we are thankful.
Topic: What happens when I blockchain gets too big? (Read 127 times)
Take Bytecoin right now. Their blockchain is over 9 gigs to download.
haha, you think 9 GB is big! bitcoin blockchain size is over 160 GB right now and number of full nodes are increasing!why? because people want to use bitcoin and it has actual usage and value.
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How big will it be in 20 or 30 years? (assuming its still around).
it depends on its usage. altcoins are not really used, there are usually no transactions because people only buy them on exchanges and dump them there. nobody buys them to use or store. so in 20-30 years there won't be much of an increase. you should see how big the blocks with only 1 transaction (the coinbase tx) are and multiply that by the number of blocks per day * number of days in 20 years and you will get the minimum rise in the size.
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What solutions are going to be in place for people to download and store such a massive file?
if people want to use it, then they will run a full node and store its blockchain. as i said 9 GB, 100 GB, ... are not issues and will be less of an issue in the future if the rise is not too big and out of control like ETH blockchain size rise.Quote
Now pretend you have 20-30 different coins all with massive blockchains.
as an end user you don't need to run a full node. you can use them in pruned mode which takes up less space (if they altcoin implements it of course) or use SPV wallets.
Blockchain gets bigger over time so all full nodes will require to have a bigger storage, I think this is a problem but not that serious because storage like hard drive become more cheaper over time so if you run a full node it is not a problem to upgrade your storage for low cost, however it is still a problem because it will be hard for those people who will just start running a full node, it will take a lot of time before it gets completely sync even with good and stable internet connection. I have read a solution to this, and some says that compressing the blocks in blockchain will solve this problem.
Take Bytecoin right now. Their blockchain is over 9 gigs to download. How big will it be in 20 or 30 years? (assuming its still around). What solutions are going to be in place for people to download and store such a massive file?
Now pretend you have 20-30 different coins all with massive blockchains.
Now pretend you have 20-30 different coins all with massive blockchains.
yes it's inconvenient but that surely can be easily sorted out. Perhaps some cloud based services for this kind of storage but with proper safety infrastructure would do.
This is a very serious problem, almost all of the blockchain tokens are facing these problems, you can through the use of light purse to solve this problem, maybe someone will give up part of the later blockchain book long time ago.
The crypto market is only at a fraction of its potential value and that will come as securities go on the blockchain. At the institutional level, this will necessarily require some regulation imo. The incentives are too big. Problem with investing too early, you can get burned, but invest too late and you miss the big return!
So for me though the best strategy is to invest early! Buy small and big coins too!
So for me though the best strategy is to invest early! Buy small and big coins too!
Take Bytecoin right now. Their blockchain is over 9 gigs to download. How big will it be in 20 or 30 years? (assuming its still around). What solutions are going to be in place for people to download and store such a massive file?
Now pretend you have 20-30 different coins all with massive blockchains.
Now pretend you have 20-30 different coins all with massive blockchains.
This is an inevitable consequence of blockchain technology and we can do nothing about it. But don't worry, the technology will catch up. So there's nothing to worry about.
Hardfork will do its thing and the currency will come to life again. Technologies do not stand still, develop with great speed. So do not worry, we are in the growth stage
I suppose it is going to be bigger and bigger. A normal 8086 PC back in 1989 had just a floppy disk or two.
If you wanted a 25mb Hard Disk, you should pay extra for it, and it was very expensive. A simple web browser today has much more than 25mb.
If you buy a PC today, you'll probably have a 1 TB HD or more.
What I want to say is that as the technology evolves, HD's became bigger, less expensive and available for applications like blockchain.
If you wanted a 25mb Hard Disk, you should pay extra for it, and it was very expensive. A simple web browser today has much more than 25mb.
If you buy a PC today, you'll probably have a 1 TB HD or more.
What I want to say is that as the technology evolves, HD's became bigger, less expensive and available for applications like blockchain.
I am not very technical myself but I believe the blockchain slows down unless the code gets an update by other developers. There is usually an open github report where developers can help out with tweaking the code if it gets too slow or something. Many times they are also forking it to make a faster version of the original coin but I may be wrong. This is just an assumption on my part and maybe those more technically inclined and blessed can explain in more detail than myself. I wish I could code but I majored n Education and I.T instead.
Take Bytecoin right now. Their blockchain is over 9 gigs to download. How big will it be in 20 or 30 years? (assuming its still around). What solutions are going to be in place for people to download and store such a massive file?
Now pretend you have 20-30 different coins all with massive blockchains.
Now pretend you have 20-30 different coins all with massive blockchains.
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