Whenever a blockchain has more transactions that its blocks can handle the fees goes up ... like we have seen on ethereum.
While hive has no fees, it will become more expensive to transact and users with low RCs will not be able to do it. Meaning more HP/RC will be needed.
Got that.
So what does Hive is scalable actually mean?
Is there anyway we can have more transactions per block ever?
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At the moment hive blocks are 64kb size. Meaning each block, each 3 seconds we can add a maximum of 64kb data to the chain.
Witnesses can increase/decrease block data if there is a majority, same as for the 20% APR on HBD.
Thing is bigger blocks means bigger chain, and more expensive hardvere to run it. So there needs a balance to be made. The curent block size has been serving well for now and the hive chain is cheap to run. I run a witness node on Hive ... I for sure cant afford to run a node on for example on Solana where you need a dacenter to run it... very exoensive... this makes chains centralized...
The block size was the prime reason for BTC/BCH for back in 2017
Amazing , one final question -
Right now , is there any way to calculate how many KB of data does a specific block contain?
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There might be some data out there ... I havent looked for it, so dunno ....
P.S. About scalability... hive has only 20 nodes that make consensus, that makes it faster and scalable. Also hive doesnt have smart contracts on layer one, that are computation heavy ... its not just a raw bandwith, but also making computations that smart contracts do ... thats why sometimes its better to have them on L2 for specifc dapps, not on L1 for general data
Got it , makes absolute sense . Thanks a lot for all the info @dalz , really appreciate it.
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