What is Blockchain Bloat?

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What is the meaning of Blockchain Bloat?

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Blockchain bloat is nothing but a double-edged sword. It is a combination of both good and bad. It is sort of a positive development if you consider the means and the number of transactions on a particular blockchain that increases significantly. In a blockchain when there are a lot of transactions, that means more people are using it and this is positive for long-term adoption of any currency. Do you know that this the main reason why Bitcoin and Ethereum blockchains are quickly growing in size compared to other cryptocurrencies?
More transaction means that more data is transmitted on the blockchain in question. But sadly, this also creates a lot of problems when it comes to storing all the active data. And just because of this you’d have to rely on a large hard disk drive which is quite a bit of a problem for the people who are operating a network node. Considering the way the blockchains are growing on a regular basis, it is only a matter of years until we see a terabyte-scale blockchain taking the lead.
One of the most serious problems that come along with Blockchain bloat is that as the blockchain get bloated, the block size needs to increase as well. And if somehow this fails then the consequence that comes next is that a fewer transaction will be broadcasted per block. In the Cryptocurrency world, this problem still continues to happen and this problem is a significant problem already. This is the reason why people are now proposing the scaling solutions in order to counter this problem. This has made one thing very much clear about Cryptocurrency like Ethereum will go through the similar struggle and sharding may alleviate some of the major concerns.
Until any of these solutions are integrated or until these solutions are implemented, the key problem surrounding Bloated blockchains will prevail. Bloated blockchains also take a much longer time to initially synchronize a desktop wallet with the said network. In the case of Bitcoin, the process will take several days, depending on how fast your computer is. You can use a Solid State Drive SSD that will help you to index blocks a little bit faster but it won’t magically cut down the synchronization time for everyone ever.
This is not the end. In addition to the problems that have been mentioned above, blockchain bloat will have an impact on the transaction fees on the network. People will feel the need to increase transaction fees to see the transfer being picked up quickly by the miners. It has rather become much of a concern to find a solution as fast as possible. My opinion is solving blockchain bloat is going to be the best thing that you can do by which you can increase the block size. Well, the good news is, there are a lot of ways and there are some immediate possibilities that you can use to reduce blockchain bloat and this solving requires a lot of work and there are a lot of things that people can do the beat Blockchain bloat.

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