Technorama

Bitcoin is currently limited to roughly 202,000 - 226,000 per day by the 1MB blocksize. This wasn't always there, but the limit was introduced by Nakamoto. article link. So blocks were bigger sometimes.

Nakamoto quote: 

“It can be phased in, like:

if (blocknumber > 115000)

maxblocksize = largerlimit

It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete.

When we're near the cutoff block number, I can put an alert to old versions to make sure they know they have to upgrade.”

Back in 2010, it's understandable broadband was less available. Twelve years later there's no reason for it to not reflect the increase in HDD and broadband. A simple formula is to follow Moore's Law - double every 18 months. Or even just double every halving to be super cautious.

Some may be unclear and think this increases the existing 324 GB blockchain - it doesn't. It only increases newly mined blocks, 1MB each, which if we jumped 4x would now be 4MB. So 576 MB per day, not very high. Seagate sell an 8 TB drive STGY8000400 for $200 USD. WD 14 TB Elements hard drive is $300 USD.

My other idea is to add a reconciliation block each time the difficulty adjustment is made, that contains all final address balances that have changed since the previous 2016 blocks (two weeks).

This is far better than going to Lightning off-chain. Just keep everything simple. The KISS principal.

posted by 東京  # 19:03 0 Comments