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Title: Addressing Concerns: The Growing Data Demands of Blockchain and the Threat of Ce Post by: Eduart C on March 15, 2024, 02:12:11 AM As blockchain networks grow and their data expands, the demand for storage increases. This leads to concerns about the centralization of full nodes, as larger corporations with significant resources might dominate node operation, potentially undermining decentralization. Individuals often lack the resources to run full nodes, impacting their influence on network consensus. This raises questions about the long-term decentralization of blockchain networks. How can we address these challenges and ensure that blockchain remains truly decentralized?
Title: Re: Addressing Concerns: The Growing Data Demands of Blockchain and the Threat of Ce Post by: pooya87 on March 15, 2024, 04:42:50 AM In Bitcoin world (and by extension its copies) we should always find balance between the advantages and disadvantages of each feature.
When it comes to blockchain size, that balance is involving the individual block's maximum allowed size. By keeping it limited, we ensure the blockchain size growth to be reasonable and doesn't lead to centralization while keeping it at a level that can satisfy demand for the block space and doesn't cause mempool congestion. Title: Re: Addressing Concerns: The Growing Data Demands of Blockchain and the Threat of Ce Post by: Amphenomenon on March 15, 2024, 07:36:31 AM As blockchain networks grow and their data expands, the demand for storage increases. This leads to concerns about the centralization of full nodes, as larger corporations with significant resources might dominate node operation, potentially undermining decentralization. Individuals often lack the resources to run full nodes, impacting their influence on network consensus. This raises questions about the long-term decentralization of blockchain networks. How can we address these challenges and ensure that blockchain remains truly decentralized? Aside blockchains using POW, I don't really know any other blockchains mechanism that is entirely decentralized but Bitcoin security make it stands above every other blockchains using POW, which have been affected by the 51% hack.You should note that all bitcoin miners are full noders, resources needed to run a node will be added to their expenses in mining and so if centralization hasn't happened now, I don't think it will happen in the long. In addition to this we have individuals who will continue to run full nodes and so there is no much worries about centralization in regard to Bitcoin. pooya87, as spoken about the essence of limiting block size which makes Bitcoin network stands strong in security and decentralization than any other blockchains Title: Re: Addressing Concerns: The Growing Data Demands of Blockchain and the Threat of Ce Post by: odolvlobo on March 15, 2024, 08:12:37 AM As blockchain networks grow and their data expands, the demand for storage increases. This leads to concerns about the centralization of full nodes, as larger corporations with significant resources might dominate node operation, potentially undermining decentralization. Individuals often lack the resources to run full nodes, impacting their influence on network consensus. This raises questions about the long-term decentralization of blockchain networks. How can we address these challenges and ensure that blockchain remains truly decentralized? The current cost of a full node is less than $200, plus the cost of internet access and electricity. That may make it out of reach for many individuals, but it doesn't mean that only corporations can operate a full node or that corporations will dominate. Title: Re: Addressing Concerns: The Growing Data Demands of Blockchain and the Threat of Ce Post by: ABCbits on March 15, 2024, 09:32:30 AM Individuals often lack the resources to run full nodes, impacting their influence on network consensus. Each full node verify all block and TX, so malicious party who run millions nodes which follow different consensus won't affect Bitcoin network consensus. Title: Re: Addressing Concerns: The Growing Data Demands of Blockchain and the Threat of Ce Post by: Pmalek on March 16, 2024, 10:28:32 AM The price of both SSDs and HDDs is decreasing each year. So while it's true that you are going to need more and more storage long-term, historical records show that you can purchase said storage for less money.
There are two interesting charts here: https://www.reddit.com/r/DataHoarder/comments/17sljc1/as_requested_an_improved_chart_of_ssd_vs_hdd/ https://howmuch.one/product/average-ssd-1tb-nvme/price-history Individuals often lack the resources to run full nodes, impacting their influence on network consensus. The consensus is the law. This law applies equally to one node as well a hundred/a thousand of them. |