Published on: 2018-09-25T15:47:28+00:00
Dave Scotese has come up with an idea to relieve full nodes from the burden of storing the entire blockchain. His proposal suggests that if a UTXO set at a specific block height is recognized by humans and agreed upon by enough people, then the blockchain up to that point can be discarded. To test this concept, he offers $50 worth of bitcoin to anyone who can provide him with a UTXO set from the Bitcoin client.In addition to his idea, Dave shares a memorable experience he created using the game of life on block 542322 of the Bitcoin blockchain. However, there were incorrect references on both imgur and pastebin, and he clarifies that the correct block is 542322. He also encourages more people to run full nodes without the hassle of long waits and excessive storage space as the blockchain continues to grow.The author emphasizes the importance of trust in third parties, explaining that large composite groups are generally trusted to prevent any small group or individual from profiting through cheating. They welcome any concerns or offers of help regarding their proposal.To further incentivize participation, Dave offers $50 of bitcoin to anyone who can provide the UTXO set required to create a recognizable checkpoint for the Bitcoin blockchain. Additionally, they offer another $50 to anyone who runs Golly, an open-source Game-of-Life software, and shares a video of the game playing out into the apron-shaped image.In conclusion, Dave envisions a future where more people will run full nodes without the inconvenience of long wait times and extensive storage requirements. This vision may become a reality in a few decades, once the blockchain has grown to a few terabytes while the UTXO set remains just a few gigabytes.
Updated on: 2023-08-01T23:54:47.860579+00:00