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Average Ethereum Block Size

How Many Transactions Can We Register In A Single Block Using Ethereum? - Quora

How Many Transactions Can We Register In A Single Block Using Ethereum? - Quora

How many transactions can we register in a single block using Ethereum? Ethereum doesnt actually have a set transaction limit per block. Rather than a block size limit, Ethereum uses a limit on Gas to control the size of each block. Every piece of data that is stored on Ethereums blockchain and every function in a smart contract that is run costs gas, so the gas limit is a cap on processing and storage capacity. These requirements and gas usage vary widely by transaction, from simple transfers of ETH, to complex operations that include functions on multiple smart contracts. You can calculate the number of transactions that fit in a block, but you need to know how much gas a transaction uses and divide the gas limit by that. This will be a rough estimate, since not every transaction will have a similar gas usage. If you check out this chart , you can see the block size history for Ethereum, which might provide more context for your question. 148 Views View Upvoters Not for Reproduction Continue reading >>

What Is The Block Size Limit

What Is The Block Size Limit

If you've been in crypto for a while, you've heard of the block size and the everlasting debate that surrounds it. This debate has plagued the community for years and it has pretty much torn it apart into two groups: Those in favor of a blocksize increase and those against it. But maybe you haven't been around long enough to know what the block size and the block size limit mean and why it's so heavily debated in the crypto sphere. The block size issue is much more than just a curiosity or technicality and it could indeed define the future of Bitcoin as a mainstream currency. So, what is the block size and why does it matter? Why are there groups that defend the block size limit while others push for an immediate increase? As you most likely know, Bitcoin is a blockchain-based cryptocurrency. All the transactions that take place within the network are recorded on this blockchain, a public ledger that can be seen by anyone but changed by no one. This ledger is made up of blocks that fit together cryptographically (hence the name, blockchain). When a user makes a transaction, said transaction is included in the block that is being mined at the time, and will later be confirmed by the blocks that follow it. The more blocks there are on top of your transaction, the safer it is to assume it is immutable. Transactions, at its most basic level, are made up of data which is usually composed of the information regarding the transaction itself. This data, like any other, takes up space on the block it is included. Currently, each block on the Bitcoin blockchain is able to contain 1mb of data, meaning that the block size of bitcoin is 1 megabyte. This means that there is a limit to how many transactions can fit in Bitcoin's blocks, according to the data contained in said transact Continue reading >>

A Lower Block Time Could Help Bitcoin Scale, But Will It Work?

A Lower Block Time Could Help Bitcoin Scale, But Will It Work?

A Lower Block Time Could Help Bitcoin Scale, But Will It Work? Oct 26, 2016 at 18:35 UTC|UpdatedOct 27, 2016 at 23:06 UTC A small tweak to bitcoin could have a big impact. This has been the central point of contention in bitcoin's " block size debate ", a long-running disputeover whether tolifta hardcoded limit on the amount of data that can be included in each block of transactions. One side sees increasing the block size as an easy way to boostthe number of transactions processed on the network, potentially expanding bitcoin's user base. Those opposed to the move worry about the consequences (think centralization and instability) of such achange, or at least question the need to lift the block size in the near-term. There are other pieces to bitcoin that can be changed or moved around, and any change can make a big difference for the overall health of the network - good or bad. One data-heavy presentation from the developer conference Scaling Bitcoin earlier this month explored how changing parameters can affect the network, like how a tweak to the frequency at which blocks are created might be one way to easily grow transaction capacity. Using data pulled from their open source simulator of a proof-of-work blockchain(bitcoin and ethereum are two such blockchains), researchers from ETH Zrich arguedthat bitcoin could securely reduce its block time from 10 to 1 minute. The idea is that the change doesn't impact security negatively, but still boosts the possible number of transactions on the network. So, the argument goes, it's better overall. Arthur Gervais, a PhD student in the Institute of Information Security at ETH Zrich, told CoinDesk: "According to my research the one-minute block interval seems like the most plausible. I don't mean that it provides sufficient se Continue reading >>

Ethereum, Gas, Fuel, & Fees Consensys Media

Ethereum, Gas, Fuel, & Fees Consensys Media

A blockchain venture production studio building decentralized applications on Ethereum. Go to www.consensys.net and subscribe to our newsletter. Ethereum is a platform for decentralized and truthful applications that run on a global, peer-to-peer network without any administrators or a single point of failure. These applications have zero downtime and anyone can create them: it is permissionless innovation. The applications are truthful, immutable and always interoperate as they are coded. From this perspective, the terminology of smart contracts is reasonable in that they are the ultimate in contracts that always follow the terms set at their creation. The core of what makes this possible is effectively a World Computer. Technically called the Ethereum Virtual Machine (EVM), it includes operations for computation and data storage. A transaction represents a single session within the World Computer. It is the unit of interaction, similar to how a sentence is the unit of grammatical meaning, even though a single sentence can contain many words. Gas is the metering unit for use of the World Computer. As an analogy, electricity is metered by kilowatt hours. Using more computation and storage in Ethereum means that more gas is used. One fundamental reason for metering is that it provides an incentive for people (miners) to operate the World Computer. These miners get a fee for processing transactions, which is determined by the metering scheme: gas. Each operation in the EVM consumes gas. For example, a multiplication (MUL) consumes 5 gas and an addition (ADD) consumes 3 gas. Here is a spreadsheet of Ethereums operations and their gas consumption . Metering is different from fees and gas is different from Ether. To help clarify this, consider gas to be synonymous with fuel Continue reading >>

The Mystery Behind Blocktime

The Mystery Behind Blocktime

Identity Evangelist, Author, Blogger, Developer, Blockchain Enthusiast, Senior Director of Security Architecture at WSO2, Apache WS Committer, Axis PMC Member Block time defines the time it takes to mine a block. Both in bitcoin blockchain and ethereum blockchain, there is an expected block time, and an average block time. In bitcoin, the expected block time is 10 minutes, while in ethereum it is between 10 to 19 seconds. Both bitcoin and ethereum, at the time of this writing use a proof of work based distributed consensus algorithm (ethereum is planned to move to a proof of stake based algorithm with its serenity release). The expected block time is set at a constant value to make sure, miners cannot impact the security of the network by adding more computational power. The average block time of the network is evaluated after n number of blocks, and if it is great than the expected block time, then the difficulty level of the proof of work algorithm will be reduced, and if it is less than the expected block time then the difficulty level will be increased. Thats the core design principle behind block time, but you will see as we proceed, how bitcoin and ethereum differentiate themselves from each other. The level of difficulty varies with the time, as per the following formula. It tries to evaluate the speed of the mining network and find out how much it deviates from the expected level. The expectation is to mine a block in 10 minutes. For example, if the average speed of mining the last 2016 blocks is 8 minutes then the new difficulty factor will be greater than one, so the current difficulty level will be increased. In case the average is above 10 minutes, then the factor will be less than 1 and the difficulty level will be decreased for the next 2016 blocks. The d Continue reading >>

What Is Ethereums Block Size? : Ethereum

What Is Ethereums Block Size? : Ethereum

Welcome to r/Ethereum , the front page of the Web 3. No inappropriate behavior. This includes, but is not limited to: personal attacks, threats of violence, gossip, slurs of any kind, posting people's private information. Keep price discussion and market talk, memes & exchanges to subreddits such as /r/ethtrader Keep plain ICO advertisements to subreddits such as r/ethinvestor . Keep mining discussion to subreddits such as /r/EtherMining . No creating multiple accounts to get around Reddit rules. English language only. Please provide accurate translations where appropriate. Posts and comments must be made from an account at least 10 days old with a minimum of 20 comment karma. Exceptions may be made on a discretionary basis. Continue reading >>

A Gentle Introduction To Ethereum

A Gentle Introduction To Ethereum

Ethereum builds on blockchain and cryptocurrency concepts, so if you are not familiar with these, its worth reading a gentle introduction to bitcoin and a gentle introduction to blockchain technology first. This article assumes the reader has a basic familiarity with how Bitcoin works. Ethereum is software running on a network of computers that ensures that data and small computer programs called smart contracts are replicated and processed on all the computers on the network, without a central coordinator. The vision is to create an unstoppable censorship-resistant self-sustaining decentralised world computer. The officialwebsite is Itextends the blockchain concepts from Bitcoin which validates, stores, and replicates transaction data on many computers around the world (hence the term distributed ledger). Ethereum takes this one step further, and also runs computer code equivalently on many computers around the world. What Bitcoin does for distributed data storage, Ethereum does for distributed data storage plus computations. The small computer programsbeing run are called smart contracts, and the contractsare run by participants on their machines using asort ofoperating system called a Ethereum Virtual Machine. To run Ethereum, you can download (or write yourself if you have the patience) some software called an Ethereum client. Just like BitTorrent or Bitcoin, the Ethereum client will connect over the internet to other peoples computers running similar client softwareand start downloading the Ethereum blockchain from them to catch up. It will also independently validate that each block conforms to the Ethereum rules. What does the Ethereum client software do? You can use itto: Create new transactions and smart contracts Your computer becomes a node on the network, r Continue reading >>

Decentralization In Bitcoin And Ethereum

Decentralization In Bitcoin And Ethereum

We have been conducting a longitudinal study of the state of cryptocurrencynetworks, including Bitcoin and Ethereum. We have just made publicour results from our study spanning 2015 to 2017, in a peer-reviewed paperabout to be presented at the upcoming Financial Cryptography and Data Security conference in February [1] . Here are some highlights from our findings. Bitcoin nodes generally have higher bandwidth allocated to them than Ethereum.Compared to our previous study in 2016 , we see that the median bandwidth for a Bitcoin node has increased by a factor of 1.7x. The typical Bitcoin node has much more bandwidth available to it than it did before. Higher allocated bandwidth indicates that the maximum blocksize can beincreased without impacting orphan rates, which in turn affectdecentralization. If people were happy about thelevel of decentralization in 2016, they should be able to increase theblock size by 1.7x to clear almost twice as many transactions per secondwhile maintaining the same level of decentralization. Some people argue that increasing the maximum block size would also prohibitively increase CPU and disk requirements. Yet these costs were trivial in the first place, especially compared to today's transaction fees, and have come down drastically. For instance, a 1TB disk cost $85 on average in 2016 and $70 in 2017 [2] . To date, we have seen no sound, quantitative arguments for any specific value ofthe maximum block size in Bitcoin. Arguments on thistopic have consisted of vague, technical-sounding-yet-technically-unjustifiedargumentation, bereft of scientific justification. Thedissonance between the technical-soundiness of the arguments and theactual technical facts on the ground is disconcerting for atechnological endeavor [3] . Ethereum is Better Dist Continue reading >>

Transaction Backlog Hamstrings Ethereum

Transaction Backlog Hamstrings Ethereum

Join our community of 10 000 traders on Hacked.com for just $39 per month. Are cracks emerging in Ethereums mettle? Slow transaction times caused by a backlog have caused several exchanges to put a hold on ETH transactions. The holds have surprised many, given the Ethereum networks past ability to host high transaction volume. Bitfinex tweeted it was suspending all ETH withdrawals as the Ethereum network continues to experience extreme delays until the network backlog subsides and they can reliably post transactions to the blockchain. CEX.IO tweeted the same thing, as did BTC-E, which cited the unstoppable operation of the Ethereum network due to the network load. An update on June 20 from ShapeShifts support site advised users not to submit a ticket if they have not received ETH or an ETH token, but to wait 24 hours. The entire ETH network is backlogged and causing delays, however, most transactions are posting to the chain within 8-10 hours, the site noted. Etherscan showed the average Ethereum block size at 8,956 bytes on June 13, more than quadrupling the amount a few months earlier. While the block size reached 12,725 on Oct. 10, that was a one-time event. The block size immediately dropped to the 2,000 range until March when it began steadily rising. On June 20, the network recorded 300,000 transactions, according to data from Etherscan. Startups based on the Ethereum network have been hosting ICOs which have been pressuring the network this week. The Status ICO clogged up the network yesterday with a huge number of high gas fee transactions, most of which are failing but still filling up the blocks and preventing normal txs from getting in, according to a subreddit post. One subreddit post said a mining pool, f2pool, was manipulating transactions intended for th Continue reading >>

Ether - What Is The Size (bytes) Of A Simple Ethereum Transaction Versus A Bitcoin Transaction? - Ethereum Stack Exchange

Ether - What Is The Size (bytes) Of A Simple Ethereum Transaction Versus A Bitcoin Transaction? - Ethereum Stack Exchange

What is the size (bytes) of a simple Ethereum transaction versus a Bitcoin transaction? Alice owns an empty Ethereum wallet. Receives 1 ETH then sends 1 ETH to Bob. Alice owns an empty Bitcoin wallet. Receives 1 BTC then sends 1 BTC to Bob. What are the transaction sizes in bytes (Alice->Bob) in both cases? If Ethereum is lower, is that the main reason why Ethereum can do more tx/sec than bitcoin? This post contains several questions. Let's address them one by one. Before answering the questions, there is an error in the post's assumption: it doesn't consider the transaction fees. If Alice has one Ether or one BTC, Bob won't be able to receive the full amount (maybe he could, back in the days of zero transaction fees for BTC, but certainly not now), as the transaction fees need to be deducted from Alice's account. From the Ethereum yellow paper , we know the a transaction's logical structure is as follows. -----------------------------| Nonce | Up to 32 bytes |-----------------------------| GasPrice | Up to 32 bytes |-----------------------------| GasLimit | Up to 32 bytes |-----------------------------| To | 20 bytes addr |-----------------------------| Value | Up to 32 bytes |-----------------------------| Data | 0 - unlimited |-----------------------------| V | 1 (usually) |-----------------------------| R | 32 bytes |-----------------------------| S | 32 bytes |----------------------------- This is only the logic structure. The actually data is encoded in RLP format, thus is longer due to the added length prefix. The V field was always 1 byte before EIP-155 . It's probably safe to say every major client has implemented EIP-155. For the main net, test net, this field stays as 1 byte even with EIP-155. For private networks with "chain ID" of larger values, this field Continue reading >>

What Is The Mean Transaction Size And Average Number Of Transactions Per Block On The Ethereum Blockchain?

What Is The Mean Transaction Size And Average Number Of Transactions Per Block On The Ethereum Blockchain?

What is the mean transaction size and average number of transactions per block on the Ethereum blockchain? I found an April 7, 2017 post on Bitcoin Stack Exchange saying that Over roughly the past two months, the mean transaction size was about 506 bytes, and the average count of transactions per block was 1,956. Current figures can be found here: Tradeblock Historical Data I followed the link to see if I could find that sama data for Ethereum but could not locate it. Does anyone know the answer (or how / where to find it), and how it has evolved over time? Idk where to find the already-gathered information, but etherscan has info on all the blocks, including the transaction count within each block, but I don't see any information like averages, or even transaction sizes so I didn't want to post this as a full answer. wtk219 Jul 10 '17 at 19:42 Thanks, Jakub, that's a very interesting site and I bookmarked it. It does not answer my question though! Could you possibly hyperlink the url in your answer so people can click on it easily (right now you have to copy paste). I tried to do that myself but I am told I need to change at least six characters to justify an edit, so could not do it. Given you are the author, you won't have that problem. Tesa Jul 10 '17 at 22:47 Continue reading >>

Block Size Limit Controversy

Block Size Limit Controversy

In 2010, a block size limit of 1 MB was introduced into Bitcoin by Satoshi Nakamoto . He added it as a safety measure to prevent miners from creating large spam blocks. However, the limit was not changed again before Nakamoto disappeared. As transaction volume increased with widespread Bitcoin adoption, increasing the limit became subject to heavy debate in 2015. However, most proposals involved hard forking changes. To prevent Bitcoin from temporarily or permanently splitting into separate payment networks ("altcoins"), hard forks require adoption by nearly all economically active full nodes. Arguments in favor of increasing the blocksize Off-chain solutions are not yet ready to take off the load from the main blockchain. Increased blocksize will leave space for extensions like Mastercoin, Counterparty, etc. Neutral: Bitcoin competitors will have lower fees Negative: Bitcoin full nodes are forced to use more resources that don't support Bitcoin Small blocks eventually will require higher fees for fast confirmations. Positive: It will no longer be cheap to spam transactions such as Satoshi Dice bets Positive: Fees will not be zero. This is eventually a necessity in order to incentivize miners and secure the mining ecosystem Negative: Bitcoin may look unattractive to new users with high fees Negative: High fees may stop or reverse global adoption, investment, development, support and centralization A low blocksize limit encourages higher transactions fees to incentivize miners ("let a fee market develop"). A fee market naturally develops due to miner latency regardless [1] The relay network can be optimized so that miners don't have a stale rate increasing with latency. This should cause the fee market to once again require a block size limit to exist. Arguments in oppo Continue reading >>

Cornell Research: Bitcoin Block Size Can Increase By 1.7x And Maintain Decentralization

Cornell Research: Bitcoin Block Size Can Increase By 1.7x And Maintain Decentralization

Cornell Research: Bitcoin Block Size Can Increase by 1.7x and Maintain Decentralization A study led by Cornell professor Emin Gn Sirer entitled Decentralization in Bitcoin and Ethereum claimed that the bitcoin block size could be increased to 1.7MB and still maintain the same level of decentralization. During a research initiative conducted to compare the level of decentralization on Bitcoin and Ethereum, Cornell researchers led by Sirer discovered that bitcoin is under-utilizing its network. The research paper stated that because nodes on the Bitcoin network have a larger bandwidth than nodes on the Ethereum network, the size of bitcoin blocks can be increased without impacting the synchronization of nodes. Sirer explained that, Bitcoin nodes generally have higher bandwidth allocated to them than Ethereum. Compared to our previous study in 2016, we see that the median bandwidth for a Bitcoin node has increased by a factor of 1.7x. The typical Bitcoin node has much more bandwidth available to it than it did before. Higher allocated bandwidth indicates that the maximum block size can be increased without impacting orphan rates, which in turn affect decentralization. Expanding the bitcoin block size would increase the transaction capacity of the Bitcoin network by almost two-fold. Currently, as shown by the large size of the bitcoin mempool, the holding area of unconfirmed transactions, the Bitcoin network is congested, leading to high transaction fees and longer transaction verification periods. According to Blockchain , the second most widely utilized cryptocurrency wallet behind Coinbase, the size of the bitcoin mempool remains above 120 million bytes, with just over 300,000 transactions per day. Last month, the Bitcoin network was handling around 450,000 transactions Continue reading >>

Satoshis Best Kept Secret: Why Is There A 1 Mb Limit To Bitcoin Block Size

Satoshis Best Kept Secret: Why Is There A 1 Mb Limit To Bitcoin Block Size

Satoshis Best Kept Secret: Why is There a 1 MB Limit to Bitcoin Block Size Bitcoins scaling crisis was one of several things Satoshi and earlier Bitcoiners never anticipated. Heres how that 1 MB blocksize limit got put there. Anybody familiar with Bitcoin is aware of the vexing problem caused by the 1 MB blocksize limit and the controversy that arose over how to scale the network. Its probably worthwhile to look back on how that limit came to exist, in hopes that future crises can be averted by a solid understanding of the past . In 2010, when the blocksize limit was introduced, Bitcoin was radically different than today. Theymos, administrator of both the Bitcointalk forum and /r/bitcoin subreddit, said, among other things : "No one anticipated pool mining, so we considered all miners to be full nodes and almost all full nodes to be miners. I didn't anticipate ASICs, which cause too much mining centralization. SPV is weaker than I thought. In reality, without the vast majority of the economy running full nodes, miners have every incentive to collude to break the network's rules in their favor. The fee market doesn't actually work as I described and as Satoshi intended for economic reasons that take a few paragraphs to explain." It seems that late in 2010, Satoshi realized there had to be a maximum block size, otherwise some miners might produce bigger blocks than other miners were willing to accept, and the chain could split. Therefore, Satoshi inserted a 1 MB limit into the code. Yes, Satoshi kept this change a secret until the patch was deployed, and apparently asked those who discovered the code on their own to keep quiet . He likely kept things quiet to minimize the chances that an attacker would figure out how to use an unlimited blocksize to DOS the network. Sat Continue reading >>

The Ethereum Community Demonstrates Its Strength: How Ethereum Solved Its Own Block-size Controversy

The Ethereum Community Demonstrates Its Strength: How Ethereum Solved Its Own Block-size Controversy

The Ethereum Community Demonstrates Its Strength: How Ethereum Solved Its Own Block-Size Controversy Slow transaction times, high transaction fees, and a static gas limit were plaguing the Ethereum network, leading some to wonder if this was the emergence of a rift between miners and developers. But in less than a month, the two factions worked together to raise the gas limit and avoided what could have become Ethereums own block-size stand-off. Note: This article attempts to break down a complicated issue so that readers of every technical ability can understand. However, that makes it very long. Section headers are included to help readers navigate to the parts that meet their interest/technical level. Twenty-nine days ago, Ethereum Foundation (EF) contributor and Oaken Innovations co-founder Hudson Jameson alerted the community that the recent surge in token offering (TO) popularity may lead to severe network congestion and high transaction costs over the coming weeks. In a reddit post , he explained his belief that a temporary fix miners had implemented late last year in response to a Denial of Service (DoS) attack is what was causing blocks to fill up, or reach the limit of acceptable transactions per block, requiring many users to endure long wait times and high fees to send transactions on the network. Recognizing the frustration that users unaccustomed to Ethereums evolutionary rate might have with these long wait times, he suggested that miners raise their gas limit and gas price settings to help alleviate these issues. He called for miners to re-institute a pre-DoS attack adaptive gas limit that would track a moving average of previous block use and organically grow (or shrink) to help prevent blocks from filling up. In a discussion with ETHNews, Jameson expl Continue reading >>

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