I just wanted to put this into perspective here of how devistating the increased blockchain size would be… I only had to time to type up that little blurb up there before I had to leave this morning. With a blockchain transaction limit of 20MB blocks every 10 minutes… 2.8GB a day. If the blockchain actually increased by this much every day, within a year the blockchain would be almost 1 TB in size!
2.8 GB a day * 365 days in a year = 1022 GB
With a blockchain that big… I couldn’t even run the bitcoin core on my computer even if I wanted to! My hard drive only has 300GB of storage… and even less on my laptop (with an SSD). If the blockchain didn’t reach this size in 1 year, what about in 2 years? or 5?
This is one thing that sets Maidsafe apart from bitcoin. With Maidsafe, everyone can contribute. Not just people with 20-30 GB of storage space. The thing I realized after being around bitcoin for a few years is… bitcoin is filled with arbitrary code. Bitcoin tends to create it’s own problems. Why wait 10 minutes for a block of transactions? Why set a block size limit of 1MB? Why the transaction fees??? Now I know there are reasons behind each of those, but we have the ability to build a system that is not unreasonable, or based on an individual’s wishes. When Maidsafe comes out, it will prove what decentralized technology really can do!