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>Therefore I would think it is only used by researchers and analysts? The idea is that every single user, even Grandma buying groceries, has a full copy of the
by imtringued 3y ago
>Therefore I would think it is only used by researchers and analysts?
The idea is that every single user, even Grandma buying groceries, has a full copy of the Blockchain to buy her groceries. So no, it is supposed to be used by everyone. This is the reason why the block size is kept small. If it grows too big it is no longer decentralised.
- cedilla 3y agoHow is the block size relevant for that? Grandma won't carry around half a terabyte of block chain, and it doesn't help that the blocks are tiny at all.
- tromp 3y agoOnce you've verified the half TB tx history, you can stop carrying it around and just keep the much smaller and fully verified UTXO set of spendable coins, which is all you need to verify future blocks.
- npoc 3y agoIf the block size was made substantially bigger, you'd begin to need very expensive equipment to be able to verify transactions yourself. Grandma is probably able to trust her grandchildren's nodes, but with bigger blocks her grandchildren wouldn't be able to afford a node and would have to trust someone else (who is rich) and the definition of the network would become more and more centralised amongst the richest as the size of the block chain grew exponentially faster than the £/HW is reducing.