a big issue with blockchains is they continue to grow in size, it would be great if you could just reset them at intervals and scrap most of the data
Discussion
That data is people's money.
Please sit this one out lol 😂
in bitcoin that's called UTXO commitments. they didn't implement it yet. I don't know the ETH equivalent since they don't use the UTXO model. I do know that ETH has a lot more data that isn't settled history and it's a bigger challenge to do away with it, but there is a similar concept called state expiry that they are looking into.
from https://developer.bitcoin.org/devguide/operating_modes.html
Future Proposals¶
There are future proposals such as Unspent Transaction Output (UTXO) commitments in the block chain to find a more satisfactory middle-ground for clients between needing a complete copy of the block chain, or trusting that a majority of your connected peers are not lying. UTXO commitments would enable a very secure client using a finite amount of storage using a data structure that is authenticated in the block chain. These type of proposals are, however, in very early stages, and will require soft forks in the network.
Until these types of operating modes are implemented, modes should be chosen based on the likely threat model, computing and bandwidth constraints, and liability in bitcoin value.
Resources: Original Thread on UTXO Commitments
How exactly would you reset #Bitcoin blockchain data? Like remove the history? 👀
no idea
Sounds like my #Bitcoin II idea.
Imagine we can keep all coins in our heads, are able to transact using telekinesis, zero fees, including intergalactic and transdimensional transfers. Each transaction will remove one plastic straw and change it to an affordable housing. It will also make the sender 6.15 minute younger. The receiver will gain 21 seconds.
The whole system will be much more decentralized, censorship resistant, anonymous and absolutely perfect in any sense since day one.
I just have no idea how to do it.