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| author | Angel Leon <gubatron@gmail.com> | 2015-01-31 01:48:40 +0100 |
|---|---|---|
| committer | bitcoindev <bitcoindev@gnusha.org> | 2015-01-31 01:04:09 +0000 |
| commit | 164fabe606c5958f43f8a59ed0ac5692c37dfe35 (patch) | |
| tree | bdab5dd7857c67e599256bc1e4b295e853d6c63c | |
| parent | 2a0ad53f137f976bd62a27438baad9d4c833409a (diff) | |
| download | pi-bitcoindev-164fabe606c5958f43f8a59ed0ac5692c37dfe35.tar.gz pi-bitcoindev-164fabe606c5958f43f8a59ed0ac5692c37dfe35.zip | |
[Bitcoin-development] Is there a way to estimate the maximum number of transactions per minute Bitcoin can handle as it is today?
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diff --git a/a4/85ddf662c0631c72f79f976b4aeddadaaab611 b/a4/85ddf662c0631c72f79f976b4aeddadaaab611 new file mode 100644 index 000000000..d398e1d9b --- /dev/null +++ b/a4/85ddf662c0631c72f79f976b4aeddadaaab611 @@ -0,0 +1,126 @@ +Received: from sog-mx-4.v43.ch3.sourceforge.com ([172.29.43.194] + helo=mx.sourceforge.net) + by sfs-ml-3.v29.ch3.sourceforge.com with esmtp (Exim 4.76) + (envelope-from <gubatron@gmail.com>) id 1YHMTp-0002eK-Sb + for bitcoin-development@lists.sourceforge.net; + Sat, 31 Jan 2015 01:04:09 +0000 +Received-SPF: pass (sog-mx-4.v43.ch3.sourceforge.com: domain of gmail.com + designates 209.85.216.42 as permitted sender) + client-ip=209.85.216.42; envelope-from=gubatron@gmail.com; + helo=mail-qa0-f42.google.com; +Received: from mail-qa0-f42.google.com ([209.85.216.42]) + by sog-mx-4.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) + (Exim 4.76) id 1YHMFF-00034r-Pe + for bitcoin-development@lists.sourceforge.net; + Sat, 31 Jan 2015 00:49:06 +0000 +Received: by mail-qa0-f42.google.com with SMTP id dc16so22426572qab.1 + for <bitcoin-development@lists.sourceforge.net>; + Fri, 30 Jan 2015 16:49:00 -0800 (PST) +X-Received: by 10.140.22.99 with SMTP id 90mr17522546qgm.72.1422665340310; + Fri, 30 Jan 2015 16:49:00 -0800 (PST) +MIME-Version: 1.0 +Received: by 10.140.40.42 with HTTP; Fri, 30 Jan 2015 16:48:40 -0800 (PST) +From: Angel Leon <gubatron@gmail.com> +Date: Sat, 31 Jan 2015 01:48:40 +0100 +Message-ID: <CADZB0_aWkSApjRA-WQcVsonOTpZNX8=G=iuY3k+dKSwDq=xM6A@mail.gmail.com> +To: Bitcoin Dev <bitcoin-development@lists.sourceforge.net> +Content-Type: multipart/alternative; boundary=001a11c003723e5adc050de8161a +X-Spam-Score: -0.6 (/) +X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. + See http://spamassassin.org/tag/ for more details. + -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for + sender-domain + 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider + (gubatron[at]gmail.com) + -0.0 SPF_PASS SPF: sender matches SPF record + 1.0 HTML_MESSAGE BODY: HTML included in message + -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from + author's domain + 0.1 DKIM_SIGNED Message has a DKIM or DK signature, + not necessarily valid + -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature +X-Headers-End: 1YHMFF-00034r-Pe +Subject: [Bitcoin-development] Is there a way to estimate the maximum number + of transactions per minute Bitcoin can handle as it is today? +X-BeenThere: bitcoin-development@lists.sourceforge.net +X-Mailman-Version: 2.1.9 +Precedence: list +List-Id: <bitcoin-development.lists.sourceforge.net> +List-Unsubscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>, + <mailto:bitcoin-development-request@lists.sourceforge.net?subject=unsubscribe> +List-Archive: <http://sourceforge.net/mailarchive/forum.php?forum_name=bitcoin-development> +List-Post: <mailto:bitcoin-development@lists.sourceforge.net> +List-Help: <mailto:bitcoin-development-request@lists.sourceforge.net?subject=help> +List-Subscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>, + <mailto:bitcoin-development-request@lists.sourceforge.net?subject=subscribe> +X-List-Received-Date: Sat, 31 Jan 2015 01:04:10 -0000 + +--001a11c003723e5adc050de8161a +Content-Type: text/plain; charset=UTF-8 + +On the Chinese "Single's Day" (sort of like the american Black Friday) +according to MIT's Tech Review +<http://www.technologyreview.com/news/534001/alipay-leads-a-digital-finance-revolution-in-china/> +magazine + +"Alipay handled up to 2.85 million transactions per minute, and 54 percent +of its transactions are made via mobile device." + +For a few weeks I've been reading the conversations about block sizes and +the experiments being done on the subject with larger blocks. + +On the day with the most transactions, the Bitcoin block chain averages +about 73 transactions per minute. I kept wondering what blocksize we'd need +for handling 100,000 transactions per minute, and estimated that roughly +we'd need a blocksize of about 1300x times larger than what we have now, so +bigger than 1Gb block... but seeing the numbers Alipay gets to handle just +in China make me wonder how scalable is Bitcoin if it were to truly compete +with worldwide financial services. + +If you were to include double the number Alipay can handle, you'd be +shooting about 6 million transactions per minute, or roughly 60 million +transactions per block. + +If you average every transaction around 250 bytes, then you'd need ~15 +Gigabytes per block to be broadcast and hashed by all the full nodes every +10 minutes, eating good 2Tb of storage daily... do miners have enough +bandwidth and CPU power to handle this? + +are my scalability concerns absurd? + +http://twitter.com/gubatron + +--001a11c003723e5adc050de8161a +Content-Type: text/html; charset=UTF-8 +Content-Transfer-Encoding: quoted-printable + +<div dir=3D"ltr"><div>On the Chinese "Single's Day" (sort of = +like the american Black Friday) according to <a href=3D"http://www.technolo= +gyreview.com/news/534001/alipay-leads-a-digital-finance-revolution-in-china= +/">MIT's Tech Review</a> magazine</div><div><br></div><div><span style= +=3D"color:rgb(0,0,0);font-family:NHG,'Helvetica Neue',Helvetica,Ari= +al,sans-serif;font-size:14px;line-height:20px">"Alipay handled up to 2= +.85 million transactions per minute, and 54 percent of its transactions are= + made via mobile device."</span><br></div><br>For a few weeks I've= + been reading the conversations about block sizes and the experiments being= + done on the subject with larger blocks.<br><br>On the day with the most tr= +ansactions, the Bitcoin block chain averages about 73 transactions per minu= +te. I kept wondering what blocksize we'd need for handling 100,000 tran= +sactions per minute, and estimated that roughly we'd need a blocksize o= +f about 1300x times larger than what we have now, so bigger than 1Gb block.= +.. but seeing the numbers Alipay gets to handle just in China make me wonde= +r how scalable is Bitcoin if it were to truly compete with worldwide financ= +ial services.<br><br>If you were to include double the number Alipay can ha= +ndle, you'd be shooting about 6 million transactions per minute, or rou= +ghly 60 million transactions per block.<br><br>If you average every transac= +tion around 250 bytes, then you'd need ~15 Gigabytes per block to be br= +oadcast and hashed by all the full nodes every 10 minutes, eating good 2Tb = +of storage daily... do miners have enough bandwidth and CPU power to handle= + this?=C2=A0<br><br>are my scalability concerns absurd?<br><br clear=3D"all= +"><div><div class=3D"gmail_signature"><a href=3D"http://twitter.com/gubatro= +n" target=3D"_blank">http://twitter.com/gubatron</a><br></div></div> +</div> + +--001a11c003723e5adc050de8161a-- + + |