We have been conducting a longitudinal study of the state of crytocurrency
networks, including Bitcoin and Ethereum. We have just made public
our results from our study spanning 2015 to 2017, in a peer-reviewed paper
about to be presented at the upcoming Financial Cryptography and Data Security conference in February .
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 be
increased without impacting orphan rates, which in turn affect
decentralization. If people were happy about the
level of decentralization in 2016, they should be able to increase the
block size by 1.7x to clear almost twice as many transactions per second
while 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. Read more from hackingdistributed.com…
thumbnail courtesy of hackingdistributed.com