...And It’s Gone: How Ephemeral Blockchains Can Fix Data Bloat
This article will cover another approach to solving the data bloat problem in blockchains utilizing a tried and tested enterprise software solution – the Enterprise Database – alongside an Ephemeral Blockchain. Blockchain Data Bloat in the Supply Chain. MultiChain, Sidechain, BigchainDB, Factom, and other chains built either on or off the Bitcoin Blockchain will eventually suffer from the data bloat syndrome. Pruning techniques like SPV and sharding can help with this syndrome but to a limit. Take an example of Boeing using a blockchain to implement its supply chain solution for an....
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With more and more users turning to Bitcoin and Chief Scientist Gavin Andresen having proposed a hard fork of the blockchain, the issue of network scalability has once again risen to the surface. The problem is called "blockchain bloat": when more transactions are made, the blockchain has more data to record, and if it grows too large, it becomes difficult to easily download or store. As a result, blocks are currently limited in size, which limits the maximum number of transactions per second we can make to 7-far less than the volume handled by Visa or MasterCard. This has become a major....
The Ethereum ecosystem is going through several changes with the recently announced new hard fork. Unfortunately, it appears the network is showing signs of fewer transactions being accepted than before. Developers are also advising on raising the gas limit to 3.3 million as soon as possible. Similarly to Bitcoin, Ethereum’s blockchain is showing signs of bloat as well. To be more precise, there are quite a few Ethereum wallet addresses taking up blockchain space. Most of these accounts are empty, yet their dataset carries over into newer network blocks. To debloat the blockchain, Ethereum....
Introduction. It seems that more and more things are being placed on the blockchain. Altcoins, smart property, and even decentralized organizations are now emerging, and the inclusion of the Internet Things will add billions of devices from around the world. Eventually, everything will be on the blockchain, or at least everything in the decentralized world. Stored in readable form, no user would be able to handle that much data; with the advent of Factom, however, we can hash that data down to a manageable size and still use it to authenticate records. Now, you might be wondering: will....
The last few weeks have provided evidence that the emerging crypto 2.0 community is moving to integrate more fully with the mainstream bitcoin industry. The trend is evidenced by projects such as DigitalTangible, a gold and bitcoin exchange that uses tokens in an effort to bring gold trading into the 21st century. The project was backed by major partners Amagi Metals and Agora Commodities. However, the increased interaction between these two industry sectors has not been without controversy. The block chain bloat debate. An increasing number of bitcoin industry observers now fear that the....
As a startup, Chainlink solves a significant obstacle that concerns transferring data between blockchains and the real world. The protocol, whose origins date back to September 2014 – a period when half of the world have not even heard about blockchains and Bitcoin, offered a solution that enables independent data sources to feed information into […]