8GB block chain size after half year, Ethereum, a joke?

The Plaza
#1

http://cryptomining-blog.com/tag/ethereum-blockchain-size/

I don’t believe it’s a good idea to put too much into a fast increasing block chain, this is soap bubble.

Block chain technology is only suitable for settlement network, I agree what China Central Bank president said:

Zhou Xiaochuan : technical route based on digital currency can be divided into two kinds of accounts and non- account-based , but also can be layered and try to coexist with . Block chain technology is an optional technology , which is characterized by distributed bookkeeping , account is not based on , and can not be tampered with. If the digital currency emphasis on the protection of personal privacy , the choice of the block chain technology , the People’s Bank to deploy a significant force applied technology research to explore the block chain , but so far the block chain footprint or too much , whether it is the computing resources or storage resources , can not cope with the scale of the current transaction , the future can not be solved, it depends .

…Google translation is not good.

BTW, can we NSR/BKS holders vote for 2 minutes block interval?

#2

Most of it isnt txns, so it’s debatable whether a node needs to hold all 8 GB.

Why would we do 2 min? Our empty blocks take up barely any space. Would a 500 KB max block size do the same thing in your opinion?

#3

To reduce blockchain size, although it’s accetpable for less than 1GB per year for B&C/Nu.

How about snapshot? Can we take a snapshot of blockchain and discard previous data periodically? If share holders vote to do so.

1 Like
#4

You mean like keep all the correct balances in addresses, but discard the rest of the data that’s unnecessary?

#5

Yes.

A funny quiz.

  1. People working in China Central Bank are donkeys because they underestimate blockchain.

  2. Ethereum team are donkeys because they overload blockchain.

  3. Investors of Ethereum are just speculators, they don’t care about long term.

2 Likes
#6

3rd option is almost like an universal truth: when it’s cryptocurrency, forget about long term…

…just remember Auroracoin.

BTW Ethereum seems to work like Bitshares, and Ethereum will switch to POS anytime in the future…

As BTS I think ETH will try some “reboot” or “2.0 version” in order to handle that blockchain bloat…

I don’t think this bullish frenzy will last much longer…

(And that eternal ghost called Ripple will reclaim its 2nd place again). lol

2 Likes
#7

Switching to PoS cannot solve blockchain bloat as long as ethereum records everything on Blockchain. To be frank, this is a typical abuse of blockchain technology.

#8

Any thoughts about how distributed storage may in the future affect the issue of blockchain size?

Example: Store the blockchain on Storj.

3 Likes
#9

Distributed storage will solve many today issues as long as it is 100% safe and extremely fast :wink:

2 Likes
#10

Is it cheaper than traditional solution?

#11

noone knows yet. but for sure we will have something like “cost vs privacy” :slight_smile:

1 Like
#12

Sure it won’t solve it.

When adopting POS, they just claim the enviromental issue…

I think ethereum will rely so much in SPV like clients, what may show some reflections on network security against attacks.

The storage of blockchains on distributed storage (e.g Storj) will be an interesting experiment, dunno what the security/stability issues is gonna be though…

#13

Choice 3.
https://www.reddit.com/r/ethereum/comments/46pupk/i_have_no_idea_how_to_use_ethereum/