Archive nodes running the Ethereum blockchain have now climbed to over four terabytes in size, nearly doubling in a year.
This value represents the total amount of data a user would need to download if they intend to run an archive node—a special type of full node that is running in archive mode. These archive nodes store a complete snapshot of the Ethereum blockchain, including all the transaction records that have ever happened, unlike typical full nodes, which simply record a ledger of verified transactions.
The number of people signing up for online Bitcoin and cryptocurrency learning courses has skyrocketed in the wake of COVID-19.
With the pandemic forcing a global trend of lockdown and quarantines, millions all over the world have sought refuge online. Daily routines are fractured, and many are left wondering how to fill their now-abundant time. As a consequence, online learning courses have soared in interest—and people want to learn about Bitcoin.
Popular online learning platform Udemy told De...
Archive nodes are not necessarily needed, since full nodes have a copy of all transactions but they are useful for certain tasks, such as finding out how the balance of an Ethereum address at a point in time.
Ethereum is the second biggest coin by market cap. Image: Shutterstock.
The two most popular ways of running Ethereum are Parity and Geth. The Parity chain now weighs 4,016 GB, while Geth’s is 3,949 GB.
The size of both the Parity and Geth archives have increased by around 13% since the start of 2020, at a moment when there was a large increase in Ethereum transactions. At this rate, Ethereum archive nodes are on track to hit 5,000 GB by the end of 2020.
The Ethereum Name Service was designed to make sending and receiving crypto easier. You take your Ethereum (ETH) address—an alphanumeric string of characters, which shows how much ETH you have in your account—and replace it with a simple name. Much like how email addresses replaced clunky pieces of code, it was supposed to make crypto simpler.
But Decrypt has learned that this step forward in user design, has meant several steps backward when it comes to privacy. Since the Ethereum blockchain is...
In comparison, the Bitcoin blockchain currently weighs just 271 GB, despite being around for half a decade longer than Ethereum. Bitcoin’s blockchain stays smaller because it has a stricter limit on the number of transactions that can happen per block and it is typically used for standard payments rather than more complicated tasks like smart contracts.
According to Ethernodes, around 76% of Ethereum's 5,942 nodes are currently running Geth, whereas 21% are on parity. Less than three percent of nodes run alternative clients, like Nethermind or OpenEthereum.
However, of these almost 6,000 nodes in operation, only a small fraction operate in archive mode, and most instead operate as a simple full node with pruning enabled to increase sync times. Full nodes only need to sync around 308 GB of data to get up to speed with the current state of the Ethereum blockchain, while a warp node only needs to download a snapshot of 30,000 blocks to get up to sync.
Part of the reason archive nodes are less common is due to the technical requirements of running one—after all, not everybody has 4 TB of free space lying around to host a copy of the entire Ethereum blockchain.
It’s also time consuming and difficult. It took Eric Wall, CIO at Arcane Assets, 35 days to sync an Ethereum full node from scratch. And that’s only 200 GB—five percent of an archive node.
Crypto exchange Kraken is willing to hit some pretty tight deadlines, as the exchange works to elevate its brand and market share through a new business solution dubbed Kraken Embed, according to the company’s Head of Payments and Blockchain Brett McLain.
In an interview with Decrypt, McLain said that Kraken’s recent tie-up with bunq, a Netherlands-based neobank, was the result of a last-minute shift—and a blueprint for how the company could expand its presence through relationships with similar...
Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week:
Choppy week for Coinbase
Coinbase flagged a $400 million cybersecurity breach this week—one of the biggest in the company’s history. The most troubling aspect is that the exploit arose because an overseas contractor was bribed to steal customer data.
In a video posted online, CEO Brian Armstrong said that criminals were able to gain access to sensitive user data, including names, addres...
Hong Kong investment group Avenir snapped up another 3.4 million shares of BlackRock's iShares Bitcoin Trust ETF (IBIT) during the first quarter, bringing its holdings of the fund to nearly $700 million, according to a U.S. regulatory filing published Thursday—further evidence that spot Bitcoin ETFs are gaining traction among financial institutions.
Avenir held 14.7 million IBIT shares worth $688 million as of March 31, according to its filing,. That marks a 30% increase from the firm's IBIT ho...