Blockchain size growth reduces the potential number of nodes and increases the cost of data storage.
8% of Bitcoin transactions have OP_RETURN with data as one of the outputs. 90% of them are from Veriblock and Omni.
It costs roughly $20.2M to write 1GB of data to a smart contract on Ethereum.
Existing decentralized storage solutions do not allow smart contracts to read data from them due to the lack of blockchain interoperability.
Footnotes
Join The Block Research for exclusive research like this
Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.
