Running Steem (the blockchain) is going to be much cheaper because of MIRA.
I finally caught up to @pennsif latest show here with Steemit inc.
From @14:20 till @27:55 one of the lead developer called @vandenberg talks about MIRA and it got witnesses and developers excited!
What does MIRA do?
MIRA will significantly reduce the cost of running servers for Steem (the blockchain) by lowering the hardware requirements which will make Steem cheaper to run and will allow more Steemians to run servers, making Steem more decentralised.
Now that is cool!
How does MIRA do this?
It's pretty easy to visual that a Blockchain get's bigger the older it gets. It's a continues chain of data that only grows and never loses data.
This data needs to be stored somewhere so that we can all access it.
It's currently stored in a very expensive component of a computer/server called RAM. Yet, with the blockchain ever growing we need more and more of it increasing the price of the servers.
What MIRA will do is take the data out of RAM and store it on Disk (a much cheaper component) while still maintaining the same performance as before.
The server requirements to run the Steem blockchain will therefor go down, which is pretty much unheard of in the blockchain space!
How will this affect you?
When MIRA is fully implemented in (hopefully) the upcoming months you should notice nothing on the frontends (which is a sort of a annoying thing of backend development, it's always a little underappreciate because there are no visual effects to show it, like a UI update).
But it should feel good to know that Steem is going to be very future proof in terms of scaling and more decentralised because of MIRA making it a great candidate to develop for.
Also the people that develop and run witness servers/full nodes for Steem will see a nice reduction in their bills.
Ow, and one more thing I saw in the edited version of the SMT's release date post here.
Most of the work on SMT's is already completed....mmm...interesting :)
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i'll most certainly run a series of witnesses when the cost of doing so comes down just for network redundancy.
That is very exciting! The speed of SSD's has become pretty impressive as time has gone on and it is interesting to know that they are looking to move it away from RAM and onto traditional discs like that. How big is the Steem blockchain?
I guess the more witness servers the better especially if they’re cheaper to run from what Insee unless you’re in the top 20 it’s costing you money to run the servers.
It depends on the price of Steem really. We (@blockbrothers spot #38) are about break even currently with all our servers with current STEEM price. Lower hardware costs would have a positive effect for us for sure!
Mark @exyle It Only Gets Better and Better as We Go Forward and I am Grateful that we are here Early on in the Development..........got another Legendary Unicorn in my Daily Quest Cards Yesterday. Who Said they Don't Believe in Unicorns ?
Better better only I hope that I don't have to run multiple servers to be able to run the witness server because instead of 1 full node server you need 3? Servers now to run a full node? It not a complaint it's more like I hope it can be done by 1 server and I will host a full node if it can be hosted on a 64gb server. 🤗
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Definitely good news ... The best changes should not only be those that affect the visual, a change like the one that will make MIRA should matter to us all.
As witness servers get cheaper I wonder how many more people will decide to become a witness and run one. I'm pretty sure at least a few people have been interested in becoming a witness until they saw the price so this is great news for all those people.
Pretty sure Steemit has said once before once Mira is released they're turning their full attention on SMTs as well. Maybe SMTs by the end of the year, assuming worst case scenario?
Hi, sounds great!
Definitely continued steps in the right direction! I feel that MIRA could also be a catalyst for more exchanges to support Steem in the short term.
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That sounds great!