bdxcoin #7 : scalability you said ? 22-10-2014
DESCRIPTION
Une explication de principe de scalabilité du bitcoin avec les écueils et les solutions possibles.TRANSCRIPT
- 1. Scalability you said ? BdxCoin #7
- 2. The prophecy Bitcoin will be able to scale to handle as many transactions as the current payment systems Is it the case today ?
- 3. Is it a real problem ? Visa handles about 2000 Tx / s Bitcoin can handle 7 Tx / s NO BULLSHIT
- 4. Block size Maximum block size : 1 MB about 2000 transactions Why ? Avoid DoS attacks
- 5. Block size evolution Average block size 2010-now (source quandl.com)
- 6. Wat do ? Remove block size limit ? Increase block size like difficulty ? -> Protocol update -> Blockchain fork
- 7. Blockchain size Initial download size : 23+ GB and counting. Is it really needed ?
- 8. Blockchain size
- 9. Blockchain size What do we need ? UTXO : Unspent Transaction Output Validated by a hash in block headers A few hundred full blocks in case of a fork
- 10. Wat do ? Initial download : - Get longest chain headers from peers - Get UTXO from a peer - Check UTXO against blockchain - Get a few hundred blocks -> This needs a fork too.
- 11. Upcoming problems ? CPU performance ? -> new ECDSA lib to be rolled out Storage ? -> Moore law We need more full nodes !
- 12. Thank you Time for a glass of wine ! (or questions maybe ?) BdxCoin.org @bdxcoin @dqms_output @DjowIsGreat @ChezWam @tuxication