Ethereum: Is the Bitcoin Gossip Protocol perfect?
When it comes to the decentralized world of cryptocurrency, different topics cause so much debate between fans and experts. The essence of this discussion is the Bitcoin gossip protocol designed by Satoshi Nakamota under the pseudonym Satoshi Nakagami. This innovative mechanism allows network nodes to agree on the updates of the real blocks, ensuring that all countries are aware of the operations or blocked operations. But is it perfect? We go to the details and investigate some of the possible defects.
Basic notions on the Bitcoin Gossip Protocol
2009 Satoshi Nakamoto has announced the White Paper that describes Bitcoin as Open Source, a decentralized cryptocurrency that is based on a network of knots to control and record operations. The gossip protocol has been designed by default, allowing all network solos to agree on block updates. This consent mechanism is based on the simple rule of the majority: if two or more nodes receive contradictory information on the operation, they will send a “gossip package” to other knots in an attempt to solve the problem.
strengths of the gossip protocol
The Bitcoin gossip protocol has several strengths, making it an effective way to obtain a consent:
1
2.
3.
Weakness of the gossip protocol
Although the gossip protocol is an essential component of Bitcoin architecture, it also has some restrictions:
- Network delay : delay between the initial time of the operation and when it is confirmed by the nodes, it can be significant, with consequent delayed delay in the network reaction.
2.
3
Bitcoin comparison with Ethereum
Compared to Ethereum, the most sophisticated blockchain, which introduced a variety of characteristics such as intellectual contracts and programmable logic, discusses the even more intriguing Bitcoin gossip protocol. Although Ethereum has a consent mechanism designed to be stronger than Bitcoin, it still has its restrictions:
- Larger block size : the size of the Ethereum block size is 15 MB compared to Bitcoin (or 4 KB) 2 MB (or 4 KB), the reduction and support facilitated in more complex applications .
2.
Conclusion
The Bitcoin gossip protocol is a great result that has contributed to determining cryptocurrency as one of the digital currencies most widely accepted in the world. Although it has its strengths and weaknesses, it remains an essential component of Bitcoin architecture.
However, when considering Ethereum, it becomes clear that this protocol is not just a simple consent mechanism. This provides a solid base for the development of complex programs and is designed to maintain various cases of use.
After all, if the Bitcoin gossip protocol is “perfect” or not depends on the human perspective.
