CRYPTOCURRENCY
Ethereum: How would the Bitcoin protocol be impacted if nodes only stored the blocks they cared about?
The influence of the reduced storage of the block on Ethereum and Bitcoin Protocol
Bitcoin protocol relies on decentralized storage of blockchain data to ensure safety, transparency and decentralization. Complete nodes store each block ever generated in their memory, which can be a significant burden, especially given that the entire history of the network is stored.
However, there is an alternative approach: reduced block storage. If only knots stored the blocks that they care about, the Bitcoin protocol would probably experience some changes, while Ethereum would benefit from more efficient and scalable architecture. We dive into implications on both networks.
Protocol Protocol Bitcoin
In this scenario, each node would only store blocks with which it is directly connected or interested. This could lead to several changes:
- Reduced transactions compensation : with reduced storage of the block, nodes may not need to spend so much on the disk space, which means lower transactions fees.
- Increased scalability
: by focusing on transactions affecting certain nodes, the protocol can become more effective and more scalable. Nodes should only store relevant information, reducing the amount of data needed to process.
- Improved Network Performance : The reduced storage of the block could lead to the faster times of confirmation of the transaction, as the nodes do not have to wait for a long time for the checking blocks.
However, this approach also causes concern:
- Security implications : Reduced storage of block increases the surface of the attack, which is more vulnerable to 51% of the attacks and other security threats.
- Network congestion : With less stored blocks, the net could be congested, leading to a slower transaction time and increased fees.
potential benefits of Ethereum
Unlike Bitcoin, Ethereum has decentralized architecture with fewer knots needed for consistent and safe experience:
- Scalability : Ethereum platform for smart contracts allows users to implement and execute complex logic without relying on the central body.
- Decentralized Storage : Ethereum’s State Channel allows the use of a reduced storage block, as only relevant transactions are stored in memory.
Ethereum’s reduced block storage would probably lead to:
- Improved Performance : The protocol would become more effective, allowing a faster transaction time and a better user experience.
- Increased scalability : With decentralized architecture, Ethereum can handle a larger number of users with maintaining its safety features.
- Improved security : reduced storage of block reduces the surface of the attack, making it difficult to compromise the network by malicious actors.
Conclusion
Blot storage reduction in Bitcoin and Ethereum would lead to various implications:
Bitcoin -reduced block storage could result in lower transactions and improved scalability, but also increased safety risks and potential congestion.
The decentralized Ethereum architecture with a reduced storage of the block would improve its performance and scalability with maintenance of security features. However, this approach may require further improvements of the state channel and other optimizations to maintain a safe and effective network.
future research directions
To fully explore the implications of the reduced storage of the block in Bitcoin and Ethereum:
- Node optimization : developing a more effective software of a node that can reduce the use of the disk.
- State Channel Research : A study of potential advantages of reduced storage of block for the Ethereum State Channel.
- Security improvements : implementation of additional security measures to relieve potential risks associated with reduced block storage.
