2023-05-22 22:30:04
© Reuters Bitcoin’s Blockchain Has Grown Over 30GB Since Ordinals Came
CriptoFácil – Since the emergence of the Ordinals protocol, which allows the registration of non-fungible tokens (NFT) on the network, the average size of transaction blocks has increased, resulting in a significant growth of the cryptocurrency blockchain.
This trend has raised questions about the future impact on Bitcoin’s distributed file size. Data provided by Glassnode reveals that Bitcoin transaction block sizes have increased from an average of 1.3MB to 1.9MB per block, with peaks of up to 2.5MB.
Based on these numbers, it is possible to make projections about the future size of the Bitcoin blockchain, making it even more difficult for Bitcoin adherents to download the entire blockchain to run a full node or mining process.
If the average transaction block size returns to pre-Ordinals levels, it is estimated that in one year the Bitcoin blockchain will have a size of 544.6 GB, representing an increase of 11.46%.
However, if the weight of transaction blocks continues as it currently is, the projection indicates that in one year the blockchain will have a size of 620.12 GB, an increase of 22.24%. This data suggests that by April 2027, the Bitcoin blockchain could reach 1,000 GB.
Blockchain do Bitcoin
There is yet a third possibility where transaction blocks reach their maximum capacity, resulting in rapid blockchain growth. In this scenario, in one year the Bitcoin blockchain could reach a size of 718.64 GB, representing a growth of 32.9%. This projection indicates that the 1,000 GB mark could be reached in September 2025.
In view of this, proposals have resurfaced to improve the way Bitcoin stores its transactions in order to help its growth and prevent the blockchain from becoming “stratospheric”.
By simplifying the methods and the amount of information stored compared to protocols like , Bitcoin makes it possible for more users to download full nodes, allowing it to perform various functions related to exchanging electronic money.
However, the rapid growth of the Bitcoin blockchain may present additional challenges for the network, requiring continuous improvements to ensure the scalability and efficiency of the system.
#Bitcoin #Blockchain #Grown #Ordinals #CriptoFácil