Author: Major Kusanagi 2017-07-22 06:45:54
Published on: 2017-07-22T06:45:54+00:00
The scalability of Bitcoin is a topic of much debate, with some arguing that unbounded UTXO growth is necessary for Bitcoin to last forever, while others believe that limiting UTXO growth is the only way to ensure long-term viability. However, a proposed solution that would make Bitcoins not last forever could actually improve scalability and increase the likelihood of Bitcoin lasting for the long haul. The proposed solution involves sanitizing the UTXO set that nodes keep track of, which would clear up wasted space and make it easier for the Bitcoin system to scale over time. While some have expressed concern about lost or forgotten Bitcoins, this is seen as a minor issue that is not worth the hassle of dealing with. Additionally, while block size determines blockchain size and can be safely pruned, UTXO size cannot currently be safely pruned, making it a critical issue when it comes to scalability. Ultimately, the proposed solution offers a promising way forward for Bitcoin, one that could help ensure its longevity for years to come.
Updated on: 2023-06-12T03:45:36.639588+00:00