The size of the entire Bitcoin blockchain grows at a pace of approximately one additional megabyte of data (known as a block) every ten minutes (and has done since it began way back in 2009) — making it (so far) approximately 500GB in size (so half a terabyte, i.e. 0.5TB). The 1MB block size allows […]
Tag: scaling
There’s this question I keep coming back to: “If Bitcoin had been able to match Visa’s transactions per second from the start, what would its value be now, today?” Bitcoin can handle about 7 transactions per second. For comparison, Visa can handle somewhere in the region of up to about 25,000 transactions per second. Clearly […]
Whilst going through hundreds of emails and forum posts written by Satoshi Nakamoto (all of which are documented for posterity at the Satoshi Nakamoto Institute), one particular correspondance I came across stopped me in my tracks. Why? Because it — an email written by Satoshi himself no less — talks about scaling Bitcoin (a topic […]