The Size of Bitcoin’s Distributed Ledger Nears a Half Terabyte
Well over a decade ago, on January 3, 2009, the size of the Bitcoin blockchain was 0.285 kilobytes (kB) or around 285 bytes. Today, however, the blockchain’s ledger is nearly half a terabyte, or roughly 432 gigabytes. Bitcoin’s Blockchain Nears 500 Gigabytes in Size On October 15, 2022, the Bitcoin (BTC) blockchain is getting closer to reaching 500 gigabytes, or roughly half a terabyte of space, in order to store the entire distributed ledger’s history on a drive. At the time of writing, storing the entire BTC blockchain requires more than 432,000 megabytes (MB) or 432....
Related News
Blockchain startup R3 has revealed the completion of a new test that involved a total of 11 banks connected to a peer-to-peer decentralized distributed ledger. The experiment is likely to figure among the earliest examples of multiple banks using a distributed ledger to exchange value, successfully. In a press release today, R3 co-founder Todd McDonald has announced the completion of a distributed ledger experiment where 11 global banks participated in the simulation of exchanging trades and value on an R3-managed distributed ledger. Each bank was connected to a private, R3-managed....
Ethereum hard forks might serve as an important lesson for Bitcoin about how such a technical change to a distributed system unfolds. Ethereum’s first hard fork, for instance, resulted in a competing Ethereum chain. Wildly engaged in their own debates on forums and Reddit, Bitcoiners are currently deliberating changing key aspects of Bitcoin’s code. But the Ethereum hard fork might give them a peek into their own future. One’s position in the block size debate likely revolves around the value system each individual has developed around crypto-currency. The Bitcoin block size debate....
Hardly anyone can deny the financial ecosystem will need to undergo an overdue change sooner rather than later. The legacy system is not able to keep up with growing consumer demands and needs. Over in the United Kingdom, the Bank of England will develop a blueprint for this overhaul, focusing on new payment preferences and distributed ledger technology. Bank of England Looks At Distributed Ledger Technology. Revamping the UK’s entire financial ecosystem will be quite the challenge, even for the Bank of England. At the same time, a lot of work has been done already, as consumers are....
Since the creation of Bitcoin no cryptocurrency or private blockchain has compared to the exponential power of the longest running, immutable, peer-to-peer, distributed ledger. The Bitcoin blockchain has been the most popular distributed ledger since its inception in 2009. Over the course of its existence, many altcoins and privatized blockchains have....
Santander Innoventures, a US$100 million fund of the billion dollar financial institution Spanish Santander Group, has released a research paper titled "The Fintech 2.0 Paper: rebooting financial services," to examine the advantages of distributed ledger as a transaction and asset settlement platform. The decentralized and transparent nature of the distributed ledger technology of Bitcoin, also known as the blockchain technology, allows anyone on the network to record or certify irrefutable and unalterable document or asset autonomously. Bitcoin is one of many unique applications built on....