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I think most cryptocurrencies will begin to shed their blockchains. They're beginning to get unweildly, especially for Bitcoin (17GB). There's no need to retain
by jsmcgd 12y ago
I think most cryptocurrencies will begin to shed their blockchains. They're beginning to get unweildly, especially for Bitcoin (17GB). There's no need to retain a list of all transactions. You only need a consistent set of balances.
Also the energy cost of mining is beginning to become a legitimate environmental concern. I think the new slew of proof of stake currencies are going to give the proof of work currencies a run for their money (pardon the pun).
- kolinko 12y agoShedding effectivity depends on the amount of unspent outputs. E.g. If there are 1.5M transactions, and 1.2M addresses still containing money, replacing transactions with account ballances won't give you much. As for the environmental concern - read up about the tragedy of commons. Few people will abandon a better protocol into a worse one if the only benefit is ecological.