Author Topic: Blockchain size reduction question  (Read 2 times)

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Blockchain size reduction question
« on: August 16, 2019, 06:01:36 AM »
I have a question on blockchain based or rather limited on my undestanding how it works.
Blockchain is getting bigger with every block and its size is one of the two bitcoin main problems - the other being 51% attack.
Blockchain is a record of all transactions forever frozen in time which is needed to prevent double payments. Since it is by design and in practice a frozen record and unchangable I have the following question:
Would it be possible to make a snapshot of blockchain in a form of a table which would contain ONLY two fields : all the addresses ever holding non-zero amount and actual amount kept on those adresses at a certain agreed block. That table could be verifieded by all nodes and signed and it will itself become a record frozen in time just like the blockchain itself - it would be just a subset of data held in blockchain.
Now in future instead of using the actual  blockchain nodes could reference to this new locked table. This table would be much smaller than the blockchain.
New blockchain would start from the agreed block and would continue as usuall from that point.
Then users happy with this solution could keep this new table and much smaller "new" blockchain on their devices.
Is someting like this possible at least in theory ?