New research discovered that running a full node is time-consuming and requires extensive computational resources. The observation shows that for XRP, EOS and Binance Chain networks in particular, a full blockchain audit requires days of computation and dedicated machines.
Distributed Ledgers Prove Difficult to Audit
The promise that a distributed ledger can be easily kept across the globe on multiple machines is misleading. It may have been true for the early state of the network, but with the growth of transaction history, it is almost impossible to store the entire information.
New transfers are also constantly produced, complicating the picture. Yet blockchain audits may be the next requirement based on regulatory concerns about transparency and the origin of funds.
CoinMetrics performed new research based on starting a node from scratch on multiple networks. Even running a standard node took up time to synchronize, and required significant disk space for most networks. Based on this information, CoinMetrics rated…