Any alternative to storing all the transactions?

[Najska]

Hi,

All full bitcoin nodes support the security by storing the entire transaction history that is the bitcoin's block chain. Cannot there be alternative ways to sustain the security of the system? For instance, triple-signed receipts used by Open Transactions (see opentransactions.org/...) may be distributed to the entire network. I am pretty sure that Satoshi et al. must have thought this option and that this is actually impossible. So, I am not offering this as an alternative but rather asking why it's impossible.

Thanks

[MamaGoose]

Hi,

All full bitcoin nodes support the security by storing the entire transaction history that is the bitcoin's block chain. Cannot there be alternative ways to sustain the security of the system? For instance, triple-signed receipts used by Open Transactions (see opentransactions.org/...) may be distributed to the entire network. I am pretty sure that Satoshi et al. must have thought this option and that this is actually impossible. So, I am not offering this as an alternative but rather asking why it's impossible.

Thanks

i do not know if there are any alternative.. but for btc this is becoming really too big!!!
we are on 24GB..
hope this data can be shrinked in a futures bitcoin release...

[Gavin Andresen]

See https://bitcoinfoundation.org/2014/10/a-scalability-roadmap/

[MamaGoose]

See https://bitcoinfoundation.org/2014/10/a-scalability-roadmap/

Hum Peter is talking about a factor 1000 to 1.... So all blockchain become 24 MB. If this become reality will be awesome!

[1Referee]

See https://bitcoinfoundation.org/2014/10/a-scalability-roadmap/

Hum Peter is talking about a factor 1000 to 1.... So all blockchain become 24 MB. If this become reality will be awesome!

Factor 1000 to 1? Doesn't sound that realistic to me.

The current blockchain size isn't that big still if you consider what mass adoption would do with the size.

[MamaGoose]

See https://bitcoinfoundation.org/2014/10/a-scalability-roadmap/

Hum Peter is talking about a factor 1000 to 1.... So all blockchain become 24 MB. If this become reality will be awesome!

Factor 1000 to 1? Doesn't sound that realistic to me.

The current blockchain size isn't that big still if you consider what mass adoption would do with the size.

if you read the document passed from Gavin they are talking about from 1000 to 1..
but i don't understand if it will be implemented...

i report from doc

Code:

Pieter Wuille has been hard at work on a “headers first” approach – downloading the longest chain of 80-byte block headers, which is only 25 megabytes of data. The headers are sufficient to know whether or not you have the best chain, and once your node has the headers it can “back fill” by requesting complete blocks from multiple peers in any order it wants, similar to how BitTorrent downloads chunks of a large file from many different peers at once.

[justusranvier]

For instance, triple-signed receipts used by Open Transactions (see opentransactions.org/...) may be distributed to the entire network.

OT is not capable of forming the kind of distributed consensus needed to create a currency like Bitcoin.

Triple signed receipts are fine for recording contracts, though.