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Published on Nov 3, 2015
Gavin discusses Validation Sanity. Transactions 101: Metadata (version and locktime), Outputs, Inputs and signatures. How expensive is transaction validation? Step 1: receive: • Typical transaction size ~600 bytes… some optimizations possible (e.g. Schnorr signatures). Global average connection speed: 5Mbps … over 1,000 transactions per second. Step 2: look up inputs: • Must be unspent. Bottleneck is memory lookup. Signature Validation. Signature hashing. Block 364,422. 1.2 GB : wtf? O(n^2) is OK if n is small…What about UTXO growth?