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A significant source of waste in Ethereum/Bitcoin is transaction tips in order to process a transaction within a certain timeframe. This is in turn tied to the
by er4hn 4y ago
A significant source of waste in Ethereum/Bitcoin is transaction tips in order to process a transaction within a certain timeframe. This is in turn tied to the notion of wanting a consistent global state for everyone to operate under.
If there was not a global state, but a set of transactions that flow across nodes this would significantly improve the throughput of the overall system. In other words, the state of an account gradually flows across the system of nodes. Are there any projects out there like that?
- TazeTSchnitzel 4y agoThe problem with such a system is the opportunities for arbitrage, right?
- skulk 4y agohttps://en.wikipedia.org/wiki/Automated_clearing_house https://en.wikipedia.org/wiki/Automated_clearing_house A specific project: https://en.wikipedia.org/wiki/ACH_Network https://en.wikipedia.org/wiki/ACH_Network
- joshuamorton 4y agoThis invites double spends.
- toraway1234 4y ago
- sharperguy 4y agoBitcoin's lightning network achieves this by using the base transactions stored on the blockchain only as a fall-back, so that many transactions can be performed without needing to be globally synchronized. Only in the case that a partner fails to follow the established rules of engagement between nodes, a transaction must be created on chain, to "force" the correct outcome. https://en.wikipedia.org/wiki/Lightning_Network https://en.wikipedia.org/wiki/Lightning_Network