Bitcoin Forum
September 29, 2016, 01:37:42 AM *
News: Latest stable version of Bitcoin Core: 0.13.0 (New!) [Torrent]. Make sure you verify it.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Does it scale?  (Read 1012 times)
cayblood
Newbie
*
Offline Offline

Activity: 7


View Profile
August 14, 2010, 08:12:19 AM
 #1

I've noticed that even with its relatively small number of users, it still takes a significant amount of time for a brand new installation of bitcoin to download all the transactions and be able to take part in the system. My Macbook Pro, for example, ran for many hours after installation before it had confirmed that a friend of mine had sent me some money.

So, my question is, what happens when orders of magnitude more users are using bitcoin? Will it take days, months or years to download all the transactions just to be able to participate in the system?

Does the system scale to the level currently supported by the world's existing financial infrastructure? From what I've seen so far, I doubt it. For example, could it support the volume of the New York stock exchange, which currently experiences volumes in trillions of transactions per day?
1475113062
Hero Member
*
Offline Offline

Posts: 1475113062

View Profile Personal Message (Offline)

Ignore
1475113062
Reply with quote  #2

1475113062
Report to moderator
1475113062
Hero Member
*
Offline Offline

Posts: 1475113062

View Profile Personal Message (Offline)

Ignore
1475113062
Reply with quote  #2

1475113062
Report to moderator
1475113062
Hero Member
*
Offline Offline

Posts: 1475113062

View Profile Personal Message (Offline)

Ignore
1475113062
Reply with quote  #2

1475113062
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
skull88
Hero Member
*****
Offline Offline

Activity: 684



View Profile
August 14, 2010, 10:01:40 AM
 #2

If I'm right you can download the blockchain so it doesn't need to download it fully throe the client.
So in the future, a part of the chain could be packed within the installation of the client.

BTC: 1MifMqtqqwMMAbb6zr8u6qEzWqq3CQeGUr
LTC: LhvMYEngkKS2B8FAcbnzHb2dvW8n9eHkdp
cayblood
Newbie
*
Offline Offline

Activity: 7


View Profile
August 14, 2010, 10:14:12 AM
 #3

Still, even the sparse version of the transaction chain (the smallest possible dataset required to validate the transactions), according to my limited understanding, will continue to grow in size indefinitely. I have serious doubts as to whether it could sustain anywhere near the volumes of transactions taking place in today's financial markets, and these volumes will only increase over time.
mizerydearia
Hero Member
*****
Offline Offline

Activity: 574



View Profile
August 14, 2010, 10:42:31 AM
 #4

http://bitcointalk.org/index.php?topic=286.msg2947#msg2947
http://bitcointalk.org/index.php?topic=286.msg2862#msg2862 (there's more from this thread too)
From knightmb's sig: http://knightmb.dyndns.org/files/bitcoin/blocks/
http://bitcointalk.org/index.php?topic=153.0
http://bitcointalk.org/index.php?topic=445.0
http://bitcointalk.org/index.php?topic=350.0
Insti
Sr. Member
****
Offline Offline

Activity: 294


Firstbits: 1duzy


View Profile
August 14, 2010, 11:04:43 AM
 #5

Cayblood, You might like to read through the Scalability thread.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!