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Author: Admin | 2025-04-28
Safe by protecting that key. asked May 6, 2016 at 16:29 James JenkinsJames Jenkins6,3186 gold badges47 silver badges88 bronze badges 0 Is blockchain a potentially viable database solution for modern, high transaction volume applications? The blockchain technology in general has some characteristics that make it difficult to work with high volumes.Take a look at Bitcoin for example. The average transactions per day have never been more than 300K: Transactions per day (source blockchain.info)Even more important, the median confirmation time for a transaction is around 8 minutes!: Median Transaction Confirmation Time (With Fee Only) and a nice image from Quandl:Now how many computers around the world are responsible for keeping the bitcoin database? I'm no expert on bitcoin but I think the complete history of transactions are stored in the block chain, so all computers that participate in the bitcoin network essentially keep a copy of the entire database (the transactions part of course, not the accounts info and secret keys, these are kept in the personal wallets).We can only estimate how many they are but I'd guess they are more than a million. 300K transactions in a day with a million computers does not sound like high volume. And 8 minutes for confirmation?A modern RDBMS in a decent hardware can easily go up to 1K transactions per second. That's about 86M transactions per day. The confirmation time? That depends on the size of the transaction (how many tables and rows it affects) but for a small transaction of the bitcoin
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