Earlier we already talked that existing blockchain systems have serious disadvantages which #MetaHash is aimed to correct. However, time goes on and new questions arise. Finding solutions for them is extremely important for the subsequent effective development of blockchain. One of these questions is how to eliminate the problem of cluttering up the blockchain space?
During leading each bitcoin-transaction the data is inevitably fractured into components. At a moment (especially with small amounts of transactions), the data is reduced to a state of “dust” consisting of bits of bitcoin. They are already unprofitable to spend because transactional commissions exceed their cost. On the one hand, this is extremely inconvenient for users, on the other hand — inefficient for the network, because such a clutter of space can decrease the performance of entire blockchain system. With the growing popularity of bitcoin, the commissions also increase, that provokes an ever-growing fragmentation of transactions, turning into “dust.” Developers seek to combine “dust” for its introduction into circulation, but there is a danger of disclosure of the identity of users and their transaction history. So this problem just has to be solved.
In addition, millions of bitcoin addresses contain spam of the early history of blockchain when transactions could be operated without commission. Due to the lack of a minimum collection requirement, a lot of fictitious micro-transactions were sent by the ill-wishers to overload the system. The whole history of these operations is still fixed in the blockchain. After bitcoin protocol was changed, introducing a minimum commission even for micro-transactions, the network began to better cope with attacks. Nevertheless, it is still possible to observe “spam” generation of bitcoin addresses. Approximately 30% of all existing bitcoins have not been used for more than a year, so, probably, they are lost irretrievably, discarded or access to them has been lost as a result of device destruction.
Filling blockchain space did not pose a serious problem for users before, but now overloading can lead to serious consequences, limiting the speed of data exchange and a significant decrease in network performance. The #MetaHash team is confident that a modern user should have an access to the advanced technologies that allow him to work seamlessly with the blockchain. The project #MetaHash embodies blockchain’s future and now is the time to join it!
