/biz/ - Business & Finance

The fact that every transaction has to be stored indefinitely as part of the "blockchain" really bothers me and I believe it will keep crypto from being adopted. The appeal of crypto is it's decentralization to a large degree. When the blockchain grows due to more people using a network, the miners and nodes that support the network evolve from individuals running nodes to big companies and government players running nodes. This kills centralization and it also bothers my brain.

Luckily I have found a solution via the following algorithm :

>1. Be cryptocurrency
>2. Add every transaction onto blockchain
>3. After blockchain reaches a certain size. Generate a smaller "hash" that represents all blockchain transactions up to this point.
>4. ???
>5. Every node agrees this new smaller hash represents the old big ass blockchain.
>6. Now the blockchain is smaller and made up of a valid hash that represents a big ass blockchain and new transactions can be added onto the new smaller cool blockchain

I don't mind if my algorithm is used to save monero. I won't copy write it