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What is the real size of the Bitcoin blockchain?
When it comes to understanding the scale of the Bitcoin blockchain, many ask: what is the real size of this massive digital ledger?
The answer can be found in several places. Several websites, including YCharts and Blockchain.com, allow users to visualize the current size of the Bitcoin blockchain. Both sources report a growing size, and that it will continue to grow over time.
Several different numbers
As of March 2023, the estimated total hashing power (THP) of the Bitcoin network is approximately 225 exahash (EH/s) on YCharts. This number represents the combined processing power of all Bitcoin miners in the world. The total number of blocks on the blockchain is currently estimated to be approximately 1 million.
A more detailed breakdown of the blockchain size can be found on Blockchain.com. According to their data, as of March 2023, the total estimated size of the Bitcoin blockchain was about 4.5 exabytes (EB) or 450 gigabytes (GB). This number represents the total amount of storage used on the blockchain.
Numerical division
To put these numbers into perspective, one exabyte is equal to 1 billion GB. So the estimated size of the Bitcoin blockchain is about 4.5 EB or 450 GB per block.
The weight of a blockchain can also be calculated based on its total storage capacity. According to estimates from various sources, one byte (a standard unit of digital information) is equal to about 8.64 MB (megabytes). Therefore, the estimated size of the Bitcoin blockchain in megabytes is approximately:
450 GB/block x 1 EB / 1024^3 (to convert bytes to megabytes) = approximately 10.2 billion MB
Large Digital Ledger
To put these numbers into context, it is essential to consider that the estimated size of the Bitcoin blockchain is roughly equivalent to:
*Contents of approximately 100,000 medium-sized laptops
- Total storage capacity is approximately 200 billion DVDs
- Combined storage of over 2 million desktop computers
The size of the Bitcoin blockchain is truly impressive. As more and more people and organizations join the network, it is likely that our understanding of its size will continue to grow.
Conclusion
In conclusion, while we do not have an exact figure for the actual weight of the Bitcoin blockchain, our estimates based on current data suggest that it is roughly equivalent to 450 GB or 10.2 billion MB per block. The size and complexity of this massive digital ledger continues to grow as more and more people and organizations join the network.