Bitcoin is about as revolutionary a technology as you can get. It may be the most important technology ever created, potentially more influential than the internet before it. Cryptocurrencies might not exist without the internet, but Bitcoin has the potential to forever change the face of money – and, with it, control.
The Bitcoin blockchain, as powerful and potentially disruptive as the underlying technology and asset is, is only about 350GB in size. We’re looking into what that means and comparing the revolutionary technology that is the first cryptocurrency to others. Why Bitcoin Is the New Gold Standard 50 Years Later
Initially, the blockchain size of Bitcoin was measured in megabytes, until it reached 1024MB, or a full gigabyte of data.
Today, that data is estimated to be around 350GB.
How the Bitcoin Blockchain Compares to Other Types of Technology
The blockchain’s size, at only 350GB of data, is highly efficient for the amount of value transacted across it. Let’s be honest: even a pocket-sized Apple iPhone can hold up to 256GB of data. And, unless you are quite the baller, you aren’t moving as much value through it on a regular basis as Bitcoin does through its network.
Even the most basic PC should have at least 512 gigabytes of storage, with more advanced computers and laptops moving into the terabyte range.
A Sony PlayStation 5 has 825GB of storage space, with users of the hottest console on the market having access to up to 667.2GB of it. At that size, nearly two complete Bitcoin blockchains could fit.
A standard MicroSD flash memory card can hold up to 1TB of data and measures only 11mm by 15mm. Nonetheless, it has the potential to pack at least three full blockchain networks with a trillion dollar market cap.
With such a small footprint, running Bitcoin consumes little data and contributes to the network’s long-term viability.