[ANN] CRAVE 1st POS Masternodes | Dark Assets | I2P

BLOCK SIZE: BITCOIN DOES NOT SCALE EFFECTIVELY

The current 1 MB blocks allow a theoretical maximum of 7 transactions per second at 250 bytes per transaction.

Let's scale up to half of Visa's capacity of around 22,000 transactions per second:

10,000 Bitcoin transactions per second requires 1.6 GB blocks and would result in a block chain that grows by 87 TB (Terabytes) per year, consuming storage of 1.5 TB per week.

(The above example does not take into consideration the impossibility of this theoretical scenario due to lag introduced by transaction and block validation - pushing 1.6GB blocks around the network for consensus seeking).

bitcoin mining imageThe effect on Bitcoin mining - the core security mechanism of the network - will be that centralization becomes inevitable. Assuming the protocol could handle this amount of traffic - which it cannot - how many of today's miners will be able to afford the hardware and infrastructure required? Who, except a wealthy few, could afford to run their own fullnode to contribute validation and security to the network?

https://www.cryptocoinsnews.com/block-size-bitcoin-not-scale-effectively/

Well... Were fucked! Lets clone Etherium Guys! (NOPE!)

Bitcoin has left the building.

Allow me to correct this. First of all , by transactions per second what do you mean? As someone very very familiar with BTC code base and the goings on, i can tell you the above assumptions are false. Per second , the network can handle as many transactions as are thrown at it and it can propagate. Confirmation time is the bottleneck that this ill written article is trying to allude to. Now, let's do some math, @7 tx/s per MB, let's instead of modifying the block size, we modify time span, down to a minute and bloc reward to 1/10th of current (maintain the status quo vis a vi moneysupply and emmissions plan). We now have 70 tx/s and even now we can't hit that peak yet..... let's go further in a bid to stave off any further modifications for the foreseeable future and push our blocks to 20 MB (this is the current situation in BCR, tried and tested)..... we now have a limit of 1440 tx/s while keeping the basic system of block[{tx}, {tx}]

(edit)For the crazies:- let's have 100 MB blocks then and top off @ 7200 tx/s

Pitfalls

Users in some areas may have difficulty with downloading a full (if it ever gets there) 20MB block per minute (this is assuming this happens in the next 5 years, if not most will have capable net connections)

The orphan rate my increase slightly

But let's now run a comparison, do you know how much infrastructure is invested in VISA? By any standard 1440 tx/s in a decentralized database is far greater achievement than 10K tx/s in a centralized database.

That's Chinese for me, but now that you are here and looking and this coin struggle to find a Dev, why don't you jump on board?

I have my own project(the same one crave cloned the masternode changes from). My best advice for you is to take time and study a project, if it seems too good to be true then it probably is...stay away. Oh, and anything that has unnatural hype from the start is bound to disappoint.
Look at the recent ethereum release for a ongoing example. What is sad about crave is that the community has/had real believers and a lot was contributed by these supporters, shame to see it all go to waste. I wish you all luck, you are probably better off finding a coin that is one or two years old and still has it's original dev doing actual development, those will not make you money as fast as a hype PnD, but they will eventually pay off. I'm wary of take overs btw, i'm sure you have seen how many of them have been manipulated and ended up going horribly wrong for those who bought in.

Listen to what this guy says - P2P lending is going to be huge not just dark markets and whatever they entail

	Author	Topic: [ANN] CRAVE 1st POS Masternodes \| Dark Assets \| I2P \| Market [MODERATED] (Read 120468 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.