SPV bitcoind? (was: Introducing BitcoinKit.framework)



Summary:

In a conversation about blockchain speed, Michael notes that the 90 minute download time for the blockchain is no longer accurate due to the growth of the blockchain since last year. He also mentions that he hasn't tested the 3.5 speed since Pieter's ultraprune. However, libcoin has something similar to ultraprune done directly in the sqlite database backend, and Michael suggests running a head to head test to compare timings. He believes the results would be similar. Michael goes on to explain how having a merkle tree hash of all UTXOs makes them downloadable in a trusted manner from any other client, which enables bootstrap in minutes. This means that the old numbers become less relevant in this setting. The conversation stems from a previous email sent by Wendell in 2013, where he stated that the libcoin/bitcoind client downloads the entire blockchain 3.5 times faster than the bitcoin/bitcoind client, taking less than 90 minutes on a modern laptop.


Updated on: 2023-06-06T20:08:20.668170+00:00