Comment on Is the blockchain an interesting innovation, aside from cryptocurrencies ?

<- View Parent
Ajen@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

Something about this comment didn’t seem right to me, so I did some quick math:

There are approx 144,000,000 homes (incl apartments, etc) in the US. www.census.gov/quickfacts/fact/table/…/VET605221

Assuming every home is sold 5 times on average, that’s 720,000,000 sale records/deeds.

Existing blockchain implementations use IDs that are around 32 bits, or 4 bytes.

A “home sales record” or deed on the blockchain needs to include the buyer and the time/date of sale (8 bytes), along with a cryptographic signature (4-16 bytes). The seller’s identity doesn’t need to be included because it’s always doing to be the previous owner.

So each record is 16-28 bytes, and there are 720,000,000 records. If we go with 28bytes, it would take about 20GB to store all of the deeds for the US. A 500GB hard drive costs $20.

source
Sort:hotnewtop