Implications and Impact of Blockchain Transaction Pruning
5. Synchronization Process and Pruning - Bit2Me TV
Blockchain pruning problems and solutions
The Bitcoin blockchain (pruned) will never grow bigger than a some hundreds of terabytes - since there is a finite number of Bitcoins, there is a theoretical maximum to how big the UTXO set can be.
Assuming 300 bytes for each UTXO definition, and each UTXO is 1 satoshi - 630 Petabytes. Of course in practice when you have addresses that hold hundreds or thousands of bitcoins, the size in practice will be much much smaller than the figure above.
Hey guys. I'm new into counterparty. As I understood, counterparty protocol "lives" inside the bitcoin blockchain, by storing information in it. Previously I heard that with growing BTC blockchain there could be implemented BTC pruning, e. g. some of the information from the blockchain can be removed to decrease it's size. I was wondering how this will affect counterparty, can it make this protocol completely broken? Thanks for answers and sorry if my english sounds bad.
bitcoin-qt ready for use within half an hour … download an up-to-date pruned blockchain
Let us discuss how safe this is :-) This tutorial is for Linux only but people using other operating systems will understand what to do. Download the bitcoin blockchain https://drive.google.com/drive/folders/0B0nH34wIYOSlSG81ZUZUZGZjVkE?usp=sharing This will download (~20 minutes) the 2485 MB file: bitcoin_blockchain_pruned_550MB_19aug2016.tar.gz It contains only blocks, no wallet or log files. It has been created with -prune=550 Unpack tar -zxvf bitcoin_blockchain_pruned_550MB_19aug2016.tar.gz and observe it contains only blocks and chain state data. This will create the directory: .bitcoin_pruned_550MB_19aug2016 Let’s assume you move this to ~/.bitcoin_pruned, so mv .bitcoin_pruned_550MB_19aug2016 ~/.bitcoin_pruned Run bitcoin-qt When you start bitcoin-qt, a new wallet will be created: back it up first. My advice is to use bitcoin-qt 0.13.0rc3, because it creates a HD wallet that never runs out of addresses. Start bitcoin-qt in fast start-up mode first: bitcoin-qt –prune=550 –checklevel=2 –checkblocks=10 –checkblocksverify=10 –datadir=yourpath/.bitcoin_pruned and let it sync quickly. Check more thoroughly next time with 10 -> 500000. You can have a quick look at what’s happening: tail ~/.bitcoin_pruned/debug.log.
FOR NOW, the drawback is that if you want to add addresses (watch-only or spendable) that already contain bitcoins, you have to create the pruned blockchain from scratch yourself, which takes a lot of time (or have someone with a full blockchain rescan the wallet for you). This is not really necessary: if the user is not interested in the history of his transactions, the balances can be obtained directly from the UTXO set. It has already been approved to add this feature in some future Core release: https://github.com/bitcoin/bitcoin/issues?q=is%3Aissue+is%3Aopen+label%3AWallet, #8497. I will automatically update the google drive with new up-to-date blockchains soon. EDIT: openssl dgst -sha256 bitcoin_blockchain_pruned_550MB_19aug2016.tar.gz SHA256(bitcoin_blockchain_pruned_550MB_19aug2016.tar.gz)= ce36bcb9ab691c358b27d3051f8f38452bc182ca636eae992563c60805a9d4b0
Is it possible to host a pruned bitcoin node and node.js server on digital ocean to access network and blockchain data 24/7 affordably?
I have heard it has been possible for years to host a bitcoin full node on a VPS like digital ocean and that the cost now is approx $60/month with potential to increase drastically over the next few years with segwit adoption. Is there a good approach for hosting a pruned node with access to 24 hour or potentially 30 day block data in addition to a node.js server to save occasional writes to a DB? Would one have to host these on seperate droplets or is there a possibility to host both on a $5-10/month digital ocean account? I am curious because I have only seen tutorials for setting up full nodes but those will soon be potentially >$1000/year in upkeep. I am curious to see if it is possible to host my server in the cloud rather than update the DB locally. I understand a full node is important for network security, but this use case is more for current and recent bitcoin blockchain data, rather than the full tx history.
Exact matches only . Search in title. Search in title Blockchain pruning problems and solutions. Nov 10, 2015. Originally published 4 Nov 2015 on the Bitcoin StackExchange. This post has not been reviewed by any Bitcoin experts and so likely contains errors. Satoshi Nakamoto’s Bitcoin design paper describes blockchain pruning (section 7), so why haven’t we implemented it yet? This seems If you don’t want to have the whole bitcoin blockchain on your computer or server you don’t have to. There is an option that deletes previously verified blocks from your local copy. This is called pruning. To enable it you have to add the following line to your bitcoind config. This config file is usually … Continue reading "How to enable pruning on bitcoind" If you have any questions regarding Bitcoin wallet blockchain pruning then please do let us know in comments section. Tags. altcoins bitcoin bitcoin cash bitcoin gold block pruning block size block time blockchain coins cryptocurrency dash electrum guide linux litecoin luxcoin macos nodes qt sync wallet wallet nodes wallet setup windows. Block pruning could be the answer to the growing concern of the overall bitcoin blockchain. At the time of publication, the Bitcoin blockchain is nearly 40GB in size, and contains all transactions
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