But can SPV wallets validate transactions?

geographical distribution is important but there are datacenters all over the world, it's literally a non-issue. I could spin up a node in Singapore right this second if I wanted to

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18.07.2023

Blake Kaufman Автор вопроса

Kallisti Kallisti
geographical distribution is important but there a...

Where’s the data stored?

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18.07.2023

architect / erik / ;e)

Blake Kaufman
But could we agree that the data requirements coul...

It is about scale, yes. But stating that nothing will be run because of theoretical sizes later on is like stating that no one will run cars because not everyone can own a gas station. Will you be turned away from running a cab service just because you cannot build a gas station in your backyard? No, you likely won't. You will happily own the car and run the service knowing that there are other nodes (gas stations) you can connect to when you need new information (gas).

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18.07.2023

architect / erik / ;e)

Blake Kaufman
But you don’t think geographically dispersing the ...

I shared with you the global statistics for average (i.e. not above average) bandwidth speeds. 32 MB blocks can be run pretty much anywhere nowadays.

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18.07.2023

Blake Kaufman Автор вопроса

architect / erik / ;e)
I shared with you the global statistics for averag...

Do we know the current amount of transactions that happen on BTC,BCH,LTC, and Lightning?

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18.07.2023

bitcoincashautist

yes, because all you need to validate a TX is in that TX you're interested in. The only thing you can't verify is whether the coins it's spending are real coins, and in case of SPV you trust that others have checked it else the TX wouldn't be embedded in the blockchain (you verify that part with the header chain)

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18.07.2023

bitcoincashautist

Blake Kaufman
When you say “network accepted the transaction” wh...

it means that you know that the TX has been mined and has X confirmations

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18.07.2023

bitcoincashautist

Blake Kaufman
But could we agree that the data requirements coul...

Why would I run a node even now? It's inconvenient and doesn't give me more utility than just using light wallets connected to Electrum servers. I never ran a node as an user. Light wallets ftw. I ran a node because I was interested in data mining the blockchain.

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18.07.2023

Kallisti Kallisti · Accepted Answer

Kallisti Kallisti

SPV wallets check the merkle proof of a transaction which proves that the network has accepted it. They do not check the consensus rules themselves. The fact that the network accepted the tx means that it passed consensus rules.

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18.07.2023

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But can SPV wallets validate transactions?

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