Author: Michael Grønager 2011-12-22 09:19:30
Published on: 2011-12-22T09:19:30+00:00
The email conversation discusses the scalability of Bitcoin, with the concern being the current limit of 1MB/10min. According to calculations on the Scalability page, if Bitcoin were to take over all credit card transactions, it would result in a growth of 1.14GB per block, which translates to 58.5PB per year. This growth presents a problem to maintain Bitcoin's peer-to-peer nature while still scaling efficiently. The suggested solution is hash space partitioning that can scale even for a JavaScript-based validating and fully connected client running on a smartphone in a future with billions of clients and transactions. This method does not exclude the use of trusted supernodes, but they break some of the features of Bitcoin. Therefore, other strategies are encouraged to maintain its peer-to-peer nature.
Updated on: 2023-06-05T00:52:28.217186+00:00