Why does Bitcoin cause memory (Bitcoin storage space) issues?
According to cryptoglobe, Bitcoin\’s memory (mempool) issues are caused by the m
According to cryptoglobe, Bitcoin’s memory (mempool) issues are caused by the mempool itself, as stated by Blockstream CEO Brian Armstrong. He points out that there is a theoretical concept in cryptocurrency called “time locks”, where each block has a fixed amount of time to wait for updates. If this is not done, the blockchain would become slow and difficult to maintain, which means that miners have to put transaction records in a separate system to access their data.
Bitcoin storage space
Based on data from BitInfoCharts, as of July 31st, 2020, Bitcoin’s storage space (BTCHashrate) is approximately 3TB. If we limit this data size equivalent to 1GB to be above 100MB, it would mean that it takes about 2 years of storage time for confirmation. Currently, due to miners’ low dependence on block rewards and network congestion issues, the storage capacity is poor.
In addition, many exchanges are considering reopening their platforms to support users in storing their Bitcoin.
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