• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee

Bitcoin Or Ethereum? Which Blockchain Is Heavier? BitMEX Research Reports

Eduardo Próspero by Eduardo Próspero
2 years ago
in Bitcoin, Ethereum
0

From times immemorial, the Bitcoin and Ethereum camps argue about nodes and their respective blockchains’ characteristics. This mind-bending report by BitMEX Research will put the debate to rest. Surprisingly, they determine that the Bitcoin blockchain is still bigger than the Ethereum one. This will soon change, though. BitMEX Research also concludes that size is not the right metric to compare both chains, because “to learn useful information about the Ethereum network one needs to perform significantly more computations and generate far more data.”

Related Reading | BitMEX Reaches Agreement With CFTC, Why It Could Mark A New Era For Crypto

As to why people assume that Ethereum would be bigger, BitMEX Research attributes it to “failure to remember just how small Ethereum was a few years ago.” Then, they go to the history books:

“From 2015 to 2018, Bitcoin’s blockchain grew at a faster rate than Ethereum, then from 2018 to 2020 they seemed to grow in parallel. Finally, from late 2020 onwards, the Ethereum blockchain growth rate accelerated further and the growth rate is now far higher than Bitcoin. Ethereum’s cumulative blockchain size looks set to shortly overtake Bitcoin and accelerate far beyond it.”

And give us this chart:

BitMEX Research - Bitcoin And Ethereum, Blockchain Sizes

What exactly are we watching in the chart? BitMEX Research explains:

“In both cases, for Bitcoin and Ethereum, the total blockchain size in the chart above contains all transaction data, this is all the data one needs to download from one’s peers to fully synchronize and verify the chain. This includes all the digital signatures authorizing each transaction.”

BitMEX Research On Bitcoin’s Blockchain

According to this Peter Szilagyi’s tweet, Ethereum’s head state requires 130GB of data. In Bitcoin, we can compare that to “the UTXO set size, the set of unspent Bitcoin outputs.” That weighs 4.6GB, which is “only around 1.2% of the size of the entire Bitcoin blockchain.” In Ethereum, the story is quite different. Those 130GB are “around 43% of the blockchain size, far higher than 1.2% on Bitcoin.”

Also, take into account that: 

“Bitcoin Core supports pruning the blockchain, where a node can discard old blockchain data and only retain some very recent transactions plus the UTXO set. This means that one can fully validate the entire Bitcoin blockchain and check the validity of new blocks, with well under 10GB of disk space.”

What About Ethereum’s Blockchain?

Let’s get one thing clear, both blockchains are quite different and we’re just comparing them for sport. For example, in Ethereum, a node stores two types of databases, the blockchain and the state. “The state is computed from the transaction history and essentially contains: all Ethereum account balances, storage associated with every deployed Ethereum smart contract and account nonces.” 

Currently, the state is as heavy as the blockchain. “Only limited pruning or efficiencies are therefore possible when it comes to reducing the size of the head state. The head state is therefore likley to continue to grow over time.”

ETHUSD price chart for 11/27/2021 - TradingView

BTC price chart on Bitbay | Source: BTC/USD on TradingView.com

After carefully analyzing the case, BitMEX Research reaches a conclusion:

“The comparison between the blockchain size for Ethereum and Bitcoin is not always particularly relevant. The Bitcoin blockchain is mostly sufficient to tell you all you need to know about the Bitcoin network. In contrast, the Ethereum blockchain itself is by no means sufficient to tell you much about the state of Ethereum, to do this one needs to compute and store much more data, otherwise you don’t know what many of the transactions are actually doing.”

Make of that what you will.

Related Reading | BitMEX Becomes One Of The First Crypto Exchanges To Go Carbon-Neutral

It’s important to know that, for the sake of brevity, we skipped all the technical explanations. Plus, we left out worthy material that wasn’t relevant to the discussion. We highly recommend that you read the whole report, it’s fascinating and it’ll give you a clear picture of how thorough BitMEX Research was.

Featured Image: Victor Freitas on Unsplash | Charts by TradingView and BitMEX Research
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Beware of my Telegram impersonator!

Related Posts

Ethereum Fees Generated

Developer: Ethereum Is Not Slow Because Of Geth Client

6 hours ago
Bitcoin

Could Bitcoin Be On The Verge Of New ATH Rally? Analyst Identifies These Conditions

18 hours ago
Bitcoin

Bitcoin Miners On The Defensive: Market Uncertainty Spurs Revenue Diversification – Analyst

1 day ago
Ethereum and Bitcoin nodes

Ethereum Clients More Diversified Than Bitcoin, Is This Good?

1 day ago
Ethereum revenue

Ethereum Generates Over $10 Billion In Revenue In 7 Years

1 day ago
Ethereum

Ethereum Average Fees Has Hit A New 2023 Low: Data

1 day ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • While Litecoin (LTC) and Aave (AAVE) try to break key...

    18 hours ago
  • Bitcoin (BTC) and Compound (COMP) At the Market Crossroads...

    18 hours ago
  • Next 10x Crypto Gems: 6 Coins Under $0.50 To Buy Now

    19 hours ago
  • TokenCoin — Guide to Earning Passive Income through...

    19 hours ago
  • Pepe Coin Price Continues To Decline, Kangamoon and Shiba...

    23 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.