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[PoSV] adds almost zero extra size to blockchain

Dear Reddheads:

Some people in the crypto community have been making the following incorrect statement for some time:

PoSV will cause the blockchain size to explode. The huge number of transactions used or encouraged by PoSV will not only make the blockchain bloat but distort the total number of transactions.

I’d like to put this to bed once and for all. PoSV adds close to zero extra size to the blockchain and here are the reasons why:

  1. A successfully minted block in PoSV contains a special transaction called coinstake, which is equivalent to the coinbasetransaction in PoW.
  2. A coinstake transaction takes some of your coins as inputs and generate a set of outputs that include those coins and extra interest. This is how coin-age is consumed and interest is paid.
  3. A coinstake transaction is created only when minting is successful. So a wallet can try to mint 1 million times but no new transaction is created for any failed attempt.
  4. So PoSV only adds one transaction per block.
  5. The people who claim that PoSV will cause bloated blockchain most likely have the incorrect understanding that people will manually shuffle coins in normal transactions to mint or increase chance of mint. That’s just complete ignorance. Normal transactions are not involved in minting at all. They also reset coin-age to zero.

Please post any question or comment below.

Regards

laudney

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