Ethereum Users Need To Raise Gas Limits To Fight Blockchain Bloat
The Ethereum ecosystem is going through several changes with the recently announced new hard fork. Unfortunately, it appears the network is showing signs of fewer transactions being accepted than before. Developers are also advising on raising the gas limit to 3.3 million as soon as possible. Similarly to Bitcoin, Ethereum’s blockchain is showing signs of bloat as well. To be more precise, there are quite a few Ethereum wallet addresses taking up blockchain space. Most of these accounts are empty, yet their dataset carries over into newer network blocks. To debloat the blockchain, Ethereum....
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With more and more users turning to Bitcoin and Chief Scientist Gavin Andresen having proposed a hard fork of the blockchain, the issue of network scalability has once again risen to the surface. The problem is called "blockchain bloat": when more transactions are made, the blockchain has more data to record, and if it grows too large, it becomes difficult to easily download or store. As a result, blocks are currently limited in size, which limits the maximum number of transactions per second we can make to 7-far less than the volume handled by Visa or MasterCard. This has become a major....
This article will cover another approach to solving the data bloat problem in blockchains utilizing a tried and tested enterprise software solution – the Enterprise Database – alongside an Ephemeral Blockchain. Blockchain Data Bloat in the Supply Chain. MultiChain, Sidechain, BigchainDB, Factom, and other chains built either on or off the Bitcoin Blockchain will eventually suffer from the data bloat syndrome. Pruning techniques like SPV and sharding can help with this syndrome but to a limit. Take an example of Boeing using a blockchain to implement its supply chain solution for an....
Ethereum's developers have unveiled new details about a technical fork aimed at resolving lingering network issues. Officially merged into the code of the most popular ethereum client, the new rules will trigger at block number 2,675,000 — likely to occur sometime around Tuesday of next week. The update will erase empty accounts that unknown attackers used to bloat the ethereum blockchain by way of a hard fork, a process generally seen as a dangerous way of upgrading the software (all miners will need to upgrade to the new network). But according to some developers, the reality is more....
Bill Zanker, a longtime ally of US President Donald Trump, is leading an effort to raise at least $200 million to prop up the Official Trump meme coin, reports have disclosed. Related Reading: XRP Open Interest Nears $3B As CEO Sees $10B ETF Inflows Ahead The bid is being run through a vehicle called Fight Fight Fight LLC, and backers say the fundraising could climb as high as $1 billion, though the deal is not guaranteed to close. Rescue Plan Targets Market Pressure According to Bloomberg and people familiar with the effort, the token has lost most of its value since launch, sliding from....
The European Commission has released an Inception Impact Assessment [PDF] considering transaction limits on virtual currency transactions as it steps up efforts in its fight against the financing of terrorism. On 2 February, 2016, the Commission published a Communication to the Council and the Parliament on an Action Plan to tackle terrorism financing. The Action Plan builds on existing EU rules to adapt to new threats and intends at updating EU policies that are in line with international standards. In a bid to deal with the controls of cash entering or leaving a country, reference is....