delvingbitcoin
Is it time to increase the blocksize cap?
Posted on: June 21, 2024 01:39 UTC
The discussion revolves around the practical aspects and considerations of running full nodes in the blockchain, especially focusing on the implications of block size increases and storage costs.
The person sharing this information has been operating multiple full nodes since 2013, including both pruned and unpruned versions, which provides a grounded perspective on the operational requirements and financial implications of node maintenance.
One critical point raised is the debate over increasing block sizes to 32MB, which is considered a drastic step with potential negative consequences. Instead of directly jumping to such large blocks, the suggestion is to evaluate the impact by considering it as a worst-case scenario. The cost of running an archival node, particularly one that relies on solid-state drives (SSD) for storage, is highlighted. With the price of 4TB SSDs at approximately $200, the annual storage cost for running such a node is estimated at around $90, assuming the node operator opts for SSD storage due to its speed and reliability over traditional spinning hard disk drives, which could reduce the cost to about $30 annually.
Furthermore, the necessity of running archival nodes is questioned, emphasizing that while certain applications may require the extensive historical data these nodes provide, the majority of users may not need this capability. This distinction underscores the importance of assessing the specific needs of a node's intended use before committing to the higher costs associated with more substantial storage solutions.
In the context of storage costs and the ongoing evolution of blockchain technology and its usage patterns, the mention of ordinals introduces a relevant example of how blockchain data usage is diversifying. The recommendation to cautiously approach block size increases, starting with a modest doubling to 8MB, reflects a balanced view aimed at sustainable growth. This approach also considers the long-term viability of storage solutions, anticipating that advancements in technology will continue to drive down the costs of SSDs, thereby making the operation of full nodes more economically feasible over time.
This nuanced perspective combines practical experience with a forward-looking view on blockchain infrastructure management, advocating for careful consideration of technical upgrades and their economic implications. It challenges the community to weigh the benefits of larger block sizes against the potential drawbacks, such as increased storage costs and the quality of data filling these blocks, to find a path that ensures the health and accessibility of the blockchain ecosystem.