Michael Grønager [ARCHIVE] on Nostr: 📅 Original date posted:2011-12-22 🗒️ Summary of this message: Bitcoin's ...
đź“… Original date posted:2011-12-22
🗒️ Summary of this message: Bitcoin's 1MB/10min limit will cause scalability issues. Trusted supernodes or hash space partitioning are options for scalability, but supernodes break P2P features.
đź“ť Original message:Agree, but even before that, we will meet problems of the current 1MB/10min limit.
The calculations from the scalability link surely indicates that there are 2 options for scalability either go for trusted supernodes backed by huge hardware resources or something else would be needed. The supernode approach is simple and easy to implement, but it also breaks a lot of the nice features about bitcoin. So if we want bitcoin to stay p2p we need to deploy other strategies. The hash space partitioning is one of them. And the nice thing is that it can be made to scale even for a javascript based validating and fully connected client running on a smartphone in a bitcoin future with billions of clients and transactions, and still it does not exclude you from running a trusted supernode either.
Cheers,
M
On 21/12/2011, at 18:17, Jordan Mack wrote:
> I think it would be a lot more than that. According to the Scalability
> page (https://en.bitcoin.it/wiki/Scalability) if Bitcoin took over all
> credit card transactions, that would be about 1.14GB per block. I
> believe that is 58.5PB per year. (6*24*365*1.14/1024) This would also
> mean the distribution of 2MB of block data per second, which doesn't
> include broadcast overhead.
>
> On 12/21/2011 12:50 AM, Michael Grønager wrote:
>> when bitcoin takes over all credit card transactions (!), and even before that,
>> we will meet a scalability problem. The blockchain will grow rapidly,
>> (1MB/10min or 50GB/yr)
>
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🗒️ Summary of this message: Bitcoin's 1MB/10min limit will cause scalability issues. Trusted supernodes or hash space partitioning are options for scalability, but supernodes break P2P features.
đź“ť Original message:Agree, but even before that, we will meet problems of the current 1MB/10min limit.
The calculations from the scalability link surely indicates that there are 2 options for scalability either go for trusted supernodes backed by huge hardware resources or something else would be needed. The supernode approach is simple and easy to implement, but it also breaks a lot of the nice features about bitcoin. So if we want bitcoin to stay p2p we need to deploy other strategies. The hash space partitioning is one of them. And the nice thing is that it can be made to scale even for a javascript based validating and fully connected client running on a smartphone in a bitcoin future with billions of clients and transactions, and still it does not exclude you from running a trusted supernode either.
Cheers,
M
On 21/12/2011, at 18:17, Jordan Mack wrote:
> I think it would be a lot more than that. According to the Scalability
> page (https://en.bitcoin.it/wiki/Scalability) if Bitcoin took over all
> credit card transactions, that would be about 1.14GB per block. I
> believe that is 58.5PB per year. (6*24*365*1.14/1024) This would also
> mean the distribution of 2MB of block data per second, which doesn't
> include broadcast overhead.
>
> On 12/21/2011 12:50 AM, Michael Grønager wrote:
>> when bitcoin takes over all credit card transactions (!), and even before that,
>> we will meet a scalability problem. The blockchain will grow rapidly,
>> (1MB/10min or 50GB/yr)
>
> ------------------------------------------------------------------------------
> Write once. Port to many.
> Get the SDK and tools to simplify cross-platform app development. Create
> new or port existing apps to sell to consumers worldwide. Explore the
> Intel AppUpSM program developer opportunity. appdeveloper.intel.com/join
> http://p.sf.net/sfu/intel-appdev
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development at lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development