3 ms·
Could we solve blockchain scaling with terabyte-sized blocks?
- westurner 9y agoThese numbers in a computational model (or even Jupyter notebooks) would be useful. We may indeed need fractional satoshis ('naks'). With terabyte blocks, lightning network would be unnecessary: at least for TPS. There will need to be changes to account for quantum computing capabilities somewhere in the future timeline of Bitcoin (and everything else in banking and value-producing industry). Probably maybe a different hash function instead of just a routine difficulty increase (and definitely something other than ECDSA, which isn't a primary cost). $1.3m/400k a year to operate a terabyte mining rig with 50Gbps bandwidth would affect decentralization; though maybe not any more than it already is affected now. https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_... (51%) Confidence intervals for these numbers would be useful. Casper PoS and beyond may also affect future Bitcoin volume estimates.