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Blockchain Storage Problem

Blockchain Bloat: How Ethereum Is Tackling Storage Issues

Blockchain Bloat: How Ethereum Is Tackling Storage Issues

Blockchain Bloat: How Ethereum Is Tackling Storage Issues Jan 18, 2018 at 05:22 UTC|UpdatedJan 24, 2018 at 02:53 UTC 24,270 tokens. 27,358 pending transactions. 463,713 digital kittens . Ethereum has hosted a lot of activity recently, and while many crypto enthusiasts see that as a positive sign, as the network's usage soars, its history gets longer and its blockchain more unruly. And although network congestion leading to transaction backlogs and rising fees has taken the spotlight, there's another issue this scale causes - a growing database that puts significant storage costs on users wanting to run a full node. That database, called the ethereum state, hold all the computations that need to be memorized by the computers supporting the platform and the ethereum blockchain itself. And with the costs (both in time and money) of storing the state increasing, fewer and fewer people are choosing to run full nodes, which many worry will centralize the network into the hands of only a few arbitrators. For one thing, ethereum developers are well underway engineering protocol-level changes such as sharding , aimed at minimizing the database. But since these technologies are still in development, other stakeholders, namely those running ethereum clients - the software needed for users to communicate with the blockchain - have been under fresh pressure to cope with the growth of the state database. "The fact that improving this stuff is critical has been known since late 2016, the ideas have been floating around for half a year to over a year. Where are the implementations?" said ethereum creator Vitalik Buterin on a developer channel recently. The frustration is palpable with both Buterin and Afri Schoedon, who manages technical communications at ethereum software client prov Continue reading >>

Blockchain And Data Storage: The Future Is Decentralized

Blockchain And Data Storage: The Future Is Decentralized

Blockchain and Data Storage: The Future is Decentralized 2017 was the year when blockchain technology burst into the public consciousness. Even beyond the truly startling rise of cryptocurrencies, we became aware of how a range of markets could be transformed by applications built on the technology. But as with any emerging technology that suddenly gains fame and begins to be applied across real-world use cases, issues have emerged around the underlying characteristics of blockchain many of which should be a primary focus of the coming year. Chief among these concerns is scalability. That being said, the existence of these issues serves as a marker of just how far blockchain has come. Tech leaders now posit that it could underpin the next phase of the internet, creating the decentralized world wide web. As we look ahead to this new, decentralized internet, it is important to consider one of its most important elements: decentralized storage. While blockchain is on the rise, its hardly the only technology thats straining existing storage systems. Artificial Intelligence (AI), and particularly the Internet of Things (IoT), are also challenging the current boundaries of storage. Its estimated that there will be over 20 billion connected devices by 2020 , all of which will generate and then require management, storage, and retrieval of enormous amounts of data. Connected devices, combined with consumer personalization apps and the increasing need to share data across business lines, are all playing their part in increasing demand for storage. Businesses wanting to launch new, data-driven applications face a mountain of time, effort and coordination to provision new databases today. This drive towards a richer, more data-centric (and data-heavy) way of working is taking pla Continue reading >>

The Biggest Problem With Blockchain And How To Solve It, Illustrated

The Biggest Problem With Blockchain And How To Solve It, Illustrated

The biggest problem with blockchain and how to solve it, illustrated The biggest problem with blockchain and how to solve it, illustrated The biggest problem with blockchain platforms right now can be illustrated by a simple analogy. At the beginning of the 21st century, the internet was incredibly slow. If you had a blog back then, it would have been both time-consuming and expensive for users to access it. People noticed the problem, but they also recognized the usefulness of the internet. To resolve this, they worked on improving the internets infrastructure and design.At the same time, they built better hardware to run important elements of the internet as we know it today. Because of these changes, the internet became faster, and the costs of accessing websites became much lower. Before, developers were only able to create a single web page. But after the changes, developers could now build sites like Facebook, Google, and Twitter on the improved infrastructure. All this is possible because the internet is now very fast and scalable. At present, blockchain transactions face a similar hurdle: theyre slow and expensive. Blockchain companies are working to provide scalable infrastructure so that blockchain platforms can become mainstream in future. Once this happens, not only can people use blockchain for payment purposes, but they can also build applicationssimilar to Google and Facebook on top of them. Zilliqa is one of the companies seeking a solution to this problem. Tech in Asia sat down with Yaoqi Jia, head of technology at Zilliqa , to find out more. Blockchain and the problem of scalability The problem of scalability cannot be explained without first explaining the idea of throughput. Imagine you are at a train station. Trains here come in one-hour intervals, Continue reading >>

Blockchains Dont Scale. Not Today, At Least. But Thereshope.

Blockchains Dont Scale. Not Today, At Least. But Thereshope.

Blockchain Engineer. I have a passion for understanding things at a fundamental level and sharing it as clearly as possible. Blockchains dont scale. Not today, at least. But thereshope. The first Bitcoin paper was first released in 2008. My excitement about the potential of blockchain technology has been building ever since. Decentralized digital currency, once just a far-fetched goal, is finally making inroads into the mainstream. While thats exciting on its own merit, Im personally most excited about the potential for decentralized applications. Financial exchanges, prediction markets, and asset management platforms all carry enormous potential. The trustless systems supporting them are no less intriguing; identity verification systems, smart property, censorship resistant social platforms, and autonomous structures and governance models like DAOs . The most disruptive use cases probably havent even been dreamt up yet. But this dream still remains a dream for the foreseeable future while a few early enthusiasts and entrepreneurs are experimenting with building such applications, theres still a big missing piece that prevents us from seeing these applications come to fruition: scalability. Blockchains, as it stands today, are limited in their ability to scale. Thats not to say that this will be the case forever, but its definitely true today. In fact, Id argue its one of the biggest technological barriers we face with blockchain technology today. Its quickly become a very active area of research among researchers in the community and cryptocurrency in general. Currently, all blockchain consensus protocols (eg. Bitcoin, Ethereum, Ripple, Tendermint) have a challenging limitation: every fully participating node in the network must process every transaction. Recall that Continue reading >>

The Ethereum-blockchain Size Has Exceeded 1tb, And Yes, Its Anissue

The Ethereum-blockchain Size Has Exceeded 1tb, And Yes, Its Anissue

The Ethereum-blockchain size has exceeded 1TB, and yes, its anissue (TL;DR: It has nothing to do with storage spacelimits) This is an indirect response to the following article by Afri Schoedon , a developer for the Parity Ethereum client, written less than a year ago: Once a month users post a chart on `r/ethereum` predicting the blockchain size of Ethereum will soon exceed 1 TB. Idev.to I want to make it clear that I have respect for almost all of the developers in this space, and this is not intended to attack anyone. Its meant to elaborate on what the real concerns are and explain how the original article does nothing to address those real concerns. I would actually love to see something that does, because then we can throw it into Bitcoin . That being said, there are some developers who mislead, obscure, ignore, and attack via protocol confusion like what occurred with 2X and the replay protection drama , but most arent like that. You cant watch something like this or read something like this and hate these developers. Theyre genuinely trying to fight the same fight as us, and I believe Afri is part of the latter group, not the former. If youve read my other articles youre going to see some small bits of that information repeated. Up until now I wrote primarily about Bitcoin from a maximalist perspective (still am) and focused on conflicts within that community. What you may find interesting if you only watch from the corner of your eye, is that the reason for conflict here is exactly the same. Ill even use Proof-of-Stake as further leverage for my argument without criticizing it. Edit: It seems like people are not reading the subtitle and misunderstanding something. This is not about archival nodes. This is about fully validating nodes. I dont care if you prune t Continue reading >>

Blockchain Is Critical To The Future Of Data Storage -- Here's Why

Blockchain Is Critical To The Future Of Data Storage -- Here's Why

Blockchain Is Critical To The Future Of Data Storage -- Here's Why Opinions expressed by Forbes Contributors are their own. I write about deep tech, crypto, and artificial intelligence. Close-up of cables and LED lights in a server center (Thomas Koehler/Photothek via Getty Images) Ordinary people can now rent out part of their unused hard drive space and earn money for doing so. The ability to leverage excess storage capacity has become a reality thanks to the incentives being offered by various companies that are seeking to expand their decentralized networks. Considering that the cloud storage market is expected to grow to $88.91 billion by 2022, according to PR Newswire , the decentralized storage industry is rapidly turning into a hot space with huge demand, and blockchain will be critical to its success. Lets have a dive into how companies are attacking this problem. Distributed storage technologies fallunder two categories: marketplaces or infrastructure. Storage marketplaces make disk space a commodity. They are the middle-man between those who are looking to store data and providers willing to store the data for them. This works essentially by sharing a file across a peer-to-peer network think Napster. You would have to encrypt the file and then it gets sent to individual computers in the network. Behind the scenes, of course, the data is broken up into shards. When you want to retrieve your data, will retrieve all the individual pieces from different nodes in the network and decrypt it. Where do you store your data? Animoca with their own setup in-office. Companies like Storj , File Coin , and Sia all operate as marketplaces. They promise faster, cheaper, and more secure storage than options like DropBox, Amazon, or Google. However, that means there is always Continue reading >>

How To Solve Blockchains Data Storage Issues Once And For All

How To Solve Blockchains Data Storage Issues Once And For All

How to Solve Blockchains Data Storage Issues Once and For All We live in a world where data is becoming more and more important every day.To highlight just how massive this data revolution has been, heres a fact : every two days we create as much data as we did from the beginning of time until 2003. Thats right it took almost all of human civilization to create as much data as we produce over a single weekend today. Data is everywhere now. Thanks to the internet, it underpins everything we do and plays a huge role in our lives. And that trend only looks set to continue. With all this data being churned out every second of every day, one of the biggest issues were facing is how and where to store it all. We urgently need to find ways to store this data safely, sustainably, and affordably. Right now, though, there are a number of hurdles in the way. Lets take a look at the main issues in the space, and how to get around them. Currently, there is a lot of reliance on things like cloud storage for data. This has done the job fairly well up to now, but it has some major flaws. It can be unreliable, unsafe, and costly. One technology that has been showing some serious promise for data storage is blockchain. It offers security, immutability, and transparency and in these aspects, it is light years ahead of the alternative methods. But even though blockchains design makes it incredibly resistant to hacks, breaches, and corruption, it falls short in other areas. Right now, one of the main drawbacks for blockchain is that its tough to scale. Ethereum, for example, can only process about 17 transactions per second at the moment, compared to Facebook which can handle 175,000 requests per second. To make matters worse, blockchain can also be expensive for the average user. Towards Continue reading >>

The Blockchain Approach To Data Storage Problems

The Blockchain Approach To Data Storage Problems

THE BLOCKCHAIN APPROACH TO DATA STORAGE PROBLEMS The blockchain approach to data storage problems Data Storage,Decentralized Storage,Blockchain Tech Pavel Bains in Enterprise Sunday, May 13, 2018 How decentralized blockchain storage of data could be the answer to the growing demands information is putting on the modern cloud data centers. The human race has truly entered the Information Age. Once the epitome of innovation, the floppy disks performance is now eclipsed by thumbnail-sized SD cards that boast over 500,000x the capacity of the already-ancient technology. Terabyte-denominated drives are becoming the norm, and prefixes like peta-, exa- and zetta- are being used to quantify the mind-boggling amounts of data flowing in cyberspace. Far from being a buzzword, the term Big Data refers to the processing of exponentially growing data sets. As advances in the Internet of Things and Artificial Intelligence power forward , the strain on storage is only set to worsen. New data centers are cropping up at a rapid rate to alleviate this strain, but will it be enough? IDC predicts that, by 2025, there will be 163 zettabytes of data in the world. An IBM report, in the same vein, found that 80% of data today is unstructured - that is, text-heavy information that cannot be properly interpreted using traditional analytical methods. Companies collect hordes of this data, but, unless they can derive insights from it, it serves little purpose in growing their business. Instead, they begin to stockpile the unstructured data, incurring costs as they must constantly upgrade their storage capacity to make room for the useless information. Cloud databases, in their current iteration, leave much to be desired by way of scalability - expanding capacity under such a model proves to be cos Continue reading >>

19 Answers - Why Isn't The Size Of The Blockchain A Serious Problem For Bitcoin? - Quora

19 Answers - Why Isn't The Size Of The Blockchain A Serious Problem For Bitcoin? - Quora

Why isn't the size of the blockchain a serious problem for Bitcoin? While there are a few enthusiasts who are experimenting with building applications, there is still one missing piece of that puzzle and that is to be: scalability. What that means is that blockchains are limited in their ability to scale. Of course, this might not be going on forever but it is happening today. This is probably one of the greatest barriers to the technology that we face today. How many transactions are made are simply dependable of the actions of a single node that is taking part in the network. In fact, as more nodes are added to the network the weaker the blockchain gets. Similar to this, although bitcoin has a limit (and that is in theory) of 4,000 transactions per second, in practice it has about 6 to 7 transactions per second. But limitations like these dont apply for private blockchains. Private ones can achieve over 1000 transactions per second on Bitcoin . If you are asking yourself why that is the case, well, being in a private blockchain you can ensure that each and every node on the network uses a high-quality computer with strong bandwidth internet connection. Not to fool ourselves, this topic is extremely complex but I hope that this answers at least a little of the big-picture. If you are seeking a more expert advice, you should check out this website: DC FORECASTS ! Well, there indeed is a problem with the size of the blockchain. Not a serious one though. Why? Lets see: Bitcoin blockchain nodes are majorly of two types: A full node stores the complete blockchain ledger locally. Here, the size of the blockchain is a problem because the full node will have to store all the transactions that ever happened on the blockchain. The lightweight nodes or partial nodes dont store t Continue reading >>

How To Deal With The Growing Blockchain Ledger Size In Containers

How To Deal With The Growing Blockchain Ledger Size In Containers

How to Deal With the Growing Blockchain Ledger Size in Containers By their nature cryptocurrency nodes are append only databases. This means the storage requirements for the node will always be increasing in direct correlation to the number of transactions processed per second. As the popularity of cryptocurrency increases over the next few years we will see a huge increase in the storage requirements for running these nodes. In December 2017, the size of the Bitcoin ledger is 149 gigabytes and this is predicted to grow exponentially into Terabytes of data over the coming years as more and more payments are made as adoption increases. This will increase in direct correlation to the number of nodes you run in parallel each will need their own writable copy of the ledger and if you are running at any kind of scale (hundreds or even thousands of nodes) the storage requirements become an operational issue. For two reasons the storage requirements for blockchain systems will grow for two reasons: As the userbase grows there are more transactions happening per second Each transaction increasesthe size of the ledger and because it is append-only there is always an upward trend in storage consumption Compare this to mutable systems where values are replacedand you can see that as we go forward in time we start to suffer from the ever growing ledger size. There are ways to prunethe ledger size but it is a growing concern that in a few years the size of these ledgers will grow beyond the reasonable size of available disks. In a traditional cloud based application where you might be using a database such as Cassandra it would be possible to add new nodes to the cluster and as such, increase your storage capacity to solve this problem. However blockchain systems are databasesand a Continue reading >>

Bitcoin Scalability Problem

Bitcoin Scalability Problem

For a broader coverage related to this topic, see Bitcoin . The bitcoin scalability problem exists because of the limits of the maximum amount of transactions the bitcoin network can process. It is a consequence of the fact that blocks in the blockchain are limited to one megabyte in size. [1] Bitcoin blocks carry the transactions on the bitcoin network since the last block has been created. [2] :ch. 2 In contrast to Visa's peak of 47,000 transactions per second, [3] the bitcoin network's theoretical maximum capacity sits between 3.3 to 7 transactions per second. [4] [5] The one-megabyte limit has created a bottleneck in bitcoin, resulting in increasing transaction fees and delayed processing of transactions that cannot be fit into a block. [6] Various proposals have come forth on how to scale bitcoin, and a contentious debate has resulted. Business Insider in 2017 characterized this debate as an "ideological battle over bitcoin's future." [7] On 21 July 2017 bitcoin miners locked-in a software upgrade referred to as Bitcoin Improvement Proposal (BIP) 91, meaning that the controversial Segregated Witness upgrade activated at block 477,120. [8] A fork (referring to a blockchain) is what occurs when a blockchain splits into two paths moving forward. Forks on the bitcoin network regularly occur as part of the mining process. They happen when two miners find a block at a similar point in time. As a result, the network briefly forks. This fork is subsequently resolved by the software which automatically chooses the longest chain, thereby orphaning the extra blocks added to the shorter chain (that were dropped by the longer chain). A blockchain can also fork when developers change rules in the software used to determine which transactions are valid. [9] As per CoinDesk , a h Continue reading >>

Blockchain And Cryptocurrency May Soon Underpin Cloud Storage

Blockchain And Cryptocurrency May Soon Underpin Cloud Storage

Blockchain and cryptocurrency may soon underpin cloud storage Emerging now: P2P networks that use blockchain to manage cloud storage based on the sharing of excess drive and network capacity on PCs and in data centers. Those who share capacity get free storage and can be paid in cryptocurrency. Use commas to separate multiple email addresses How to fix a hard disk in Windows using the command prompt Through blockchain, Roberto Galoppini sees an opportunity to kill two birds with one stone: His organization, FileZilla, can offer users free online data storage while also allowing them to earn valuable cryptocurrency. Galoppini, director of strategy for FileZilla , the popular, open-source FTP client, said his service is planning to shift direction this year by using a peer-to-peer (P2P), distributed storage platform from Atlanta-based Storj Labs Inc. that will be managed via blockchain. [ Related: Blockchain in the real world: 3 enterprise use cases ] FileZilla, which has been piloting the Storj decentralized storage for several months,had been making money through its free file-sharing service, which is hosted on SourceForge.net. It pitches users third-party software or offers to let them make money by testing a new web or mobile application. In turn, FileZilla would share revenue with the third-party software vendors. Some users, however, reported adware was being installed without consent, and in general, the advertising isn't always popular with users, Galoppini said. By sharing revenue with Storj Labs, FileZilla would be able to continue offering users its free service and even expand feature sets using the native cryptography of blockchain, such as offering free access to a VPN. "People have been using FileZilla for free for so many years, it's important to find a Continue reading >>

7 Misunderstandings Of Bitcoins Scalingproblem

7 Misunderstandings Of Bitcoins Scalingproblem

7 Misunderstandings of Bitcoins ScalingProblem I did, for quite some time, fail to see the real scaling hurdle that faces Bitcoin. It was all about the blocksize and how many transactions we could get on-chain. Blocksize just jumps out at you, before anything else, as the obvious and most direct corollary to how much we can accomplish with the blockchain. So how could someone argue that such a thing may be one of the least important parameters for Bitcoins success? Being a very early adopter of this technology Ive gotten used to it operating a certain way. Ive become comfortable with what a transaction is, how long I have to wait, and am generally familiar with all of the software and means of interaction. Someone coming along and saying my interaction with it is going to have to change throws up a red flag for me. And it did, when I first heard the suggestion that blocks should be kept small. How the hell am I supposed to buy stuff on NewEgg or Amazon if transaction fees are high? Bitcoin becomes unusable doesnt it? So, whenever I get worried, nervous, or unsure of what comes next, I read. I consume anything and everything I can get my digital hands on. I promise you I have consumed and assessed nearly every possible argument for and against a blocksize increase, as is easily discoverable on the internet. And after hundreds of nuanced, fascinating, heavy-handed, belligerent, thought-provoking, or outright idiotic arguments, I have firmly come down on the side of keeping the blocksize as small as we can manage. Before you get angry and start deciding the reasons why Im stupid (or which bank is funding my article), just hear me out. During my journey from infinite blocksize to maybe we can get away with no direct blocksize increase at all, I went through a series of cri Continue reading >>

Storing Data On The Blockchain: The Developers Guide

Storing Data On The Blockchain: The Developers Guide

Storing Data on the Blockchain: The Developers Guide Storing data on the blockchain is not as simple as it sounds. There are many problems that can make this task quite difficult. In this tutorial we are going to take a look at the problem from a developers point of view. No fancy business slides or buzzword bullshit! We will take a look how we could actually build a blockchain application. That said, we will not dive into code here. I will leave that up for another post. Instead we will discuss the architecture and design decisions one would have to make before actually writing the first line of code. As we will discover, there are many possible solutions for the problem of storing data on the blockchain. None of them is far superior. None is absolutely useless. After reading this, you will have an overview of all possible approaches. It will then be up to you to choose your solution. Why would you want to store data on the Blockchain? The fist question you have to ask yourself is: "Why do you want to use a blockchain?" If you don't know the answer right now, you don't need a blockchain. Period. Don't let people confuse you with all this hype going on! Well, let me put it this way. Blockchain sucks. Except in 2 or 3 edge cases. It's slow, complex, expensive and hard to work with. Choosing blockchain because it is hip and trendy is like bringing a tank to a race. It might look impressive and you are bulletproof, but after all, you will loose the race big time. Look, all I want to say is, you should always choose the right tool for the job. You should only use blockchain if one or more point(s) apply to your use case: You want to be able to tell, when a dataset has changed. You need proof that/when it was (not) changed. You don't want to have a central authority. Instea Continue reading >>

Blockchain Is Not A Solution For Neither Data Storage Or Data Analysis.

Blockchain Is Not A Solution For Neither Data Storage Or Data Analysis.

Blockchain is not a solution for neither data storage or data analysis. Blockchain is a pretty inneficient way of storing data, since it **MUST** be replicated across all nodes in the network. The bandwidth costs of such solution is prohibitive for most companies. There are several kinds of more centralized solutions that can guarantee high levels of security and resilience and cost much less than a blockchain implementation. E.g.: encrypted storage on multiple cloud providers at the same time would suffice most applications. The problem is that if you are using a Blockchain, by definition, all nodes in the network have to process the same data. Theres no division of work. Take Bitcoin as an example: at a given moment, **ALL** miners are working on the same block N (technically, this is not 100% true, but it is true 99% of the time). This is waste of power processing is what gives security to the network. Its a requirement for money transfer, but its not a requirement for most data processing applications. Imagine that wed use blockchain on the internet: whenever I opened this storyto readit, all computers on the internet would have to do the same. This is insane! Also, its quite hard to query the blockchain directly. You have to build several kinds of indexes for the data, otherwise youll get increasing query times as the blockchain grows due to block traversing. And the only way you can be 100% sure that you are handling genuine data from the real blockchain is to build such indexes yourself, which would lead companies to the very problem they begun with. There has been some notable effort to solve those kind of problems inspired on the blockchain technology, but they **ARE NOT BLOCKCHAIN**. So, please, stop spreading the buzzword. Blockchain is not the Holly Grail o Continue reading >>

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