Company
Date Published
Author
Attila Toth
Word count
3542
Language
English
Hacker News points
2

Summary

Blockchain data is fundamentally time-series data, essential to its operation. The Bitcoin blockchain, analyzed using PostgreSQL and TimescaleDB, shows that transaction fees will drastically increase long-term due to halved block rewards, affecting miner revenues and user costs. To mitigate this, off-chain and batch transactions at scale are crucial for scalability and environmental sustainability, making the future of Bitcoin dependent on these innovations. By leveraging optimized database infrastructure, such as indexes and continuous aggregates, users can efficiently analyze blockchain data, gaining insights into trends, fees, and revenue distribution, ultimately informing community efforts to shape a more environmentally friendly and user-friendly network.