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All true except that a transaction can have around 400 inputs per standard size transaction. You were assuming a single input. This means Bitcoin-based protocol
by ethn 9y ago
All true except that a transaction can have around 400 inputs per standard size transaction. You were assuming a single input. This means Bitcoin-based protocols can handle 8B users per month, which is more payments than the ACH handles per month.
- mcguire 9y agoUh, what was the problem BTC was supposed to solve, originally?
- omon 9y agoTrustless transactions: transactions with a guarantee of state.
- runeks 9y ago> All true except that a transaction can have around 400 inputs per standard size transaction. (Author here) I'm not sure what you mean by this. A transaction can have lots of inputs, yes, but they take up space -- in fact they are the largest part of the transaction, since they contain signature (~72 bytes), public key (~33 bytes), as well as redeemed txid+input index (32+4 bytes). The 224-byte transaction used as an example has a single input and two outputs (one destination address; one change address). A standard (pay-to-pubkey-hash) transaction with two inputs and two outputs is ~373 bytes. A 400-input (2-output) transaction would be roughly 60KB.
- ethn 9y agoStandard size transaction is up to 100KB.