What if for a one-time fee, you could store data indefinitely on a public database replicated on thousands of computers across the world? From a buyer’s perspective, this is a pretty good deal.
This is offered by today’s public blockchains. We are not talking about large amounts of data, but once a transaction is sent and the fee is paid, all blockchain nodes store this data indefinitely.
Though no compensation is provided to node operators, a robust network of decentralized nodes is essential for security, protecting the network as a whole from DoS or censorship attacks.
As the blockchain supports more users, the operating cost of a node grows, less nodes are run, and security is reduced. This is the classic ‘tragedy of the commons’: benefits to individuals reduce benefits to all.
In this presentation, we will discuss the problems caused by an ever-growing blockchain, currently proposed solutions in ETH 1.x and how this challenge addressed in Nervos.
Matt has run blockchain educational meetups for the last 2+ years. As one of the founders of the Starfish community, he is focused on supporting people and open-source projects with informative blockchain events, outreach and writing.
Co-founder of Nervos and Token-economics researcher
Co-founder of Launch School, an online developer education platform. Kevin comes from an engineering background and previously worked on enterprise data solutions at IBM Silicon Valley Lab.