A Monero user transacted on the blockchain wanted to point to how some hex data can be very huge.
Binaryfate tweeted: “I grabbed random XMR and BTC transactions from last hour and print their raw (hex) data. You can visually see how they compare in size and by how much the XMR one is larger. When you hear of gigantic XMR transactions, you can refer people to this tweet to keep things grounded.”
He also clarified stating, if you broaden the discussion beyond a mere *single* tx size, it would be fair to note: these two blobs of data do not provide the same added value to their stakeholders. If you want that BTC data blob to be used somewhat “privately”, it will necessarily require additional transactions.
Looking at the raw data one of the users stated, that on screen the XMR tx is ~4x larger. He further asked if it can be inferred that if translated to bitcoin blocks, a XMR block would need to be 4x larger as well to include the same amount of txs (assuming the same 1in/2out model)? Or is it too simplistic?
Binary fate pointed to how On BTC chain, lot of transactions are added for “mixing” purposes, unlike the XMR chain where transactions are highly private by themselves. Hence XMR would not need the same tx count to support same level of underlying economic interactions.
When someone asked, Why not hash it and save hash only. Then later, if want to use coins, needs to use this tx. Will be valid because tx data create the saved hash.
BinaryFate replied, because you could double spend. You could send some coins to recipient B, after sending the exact same ones earlier to recipient A. B (and all observers) cannot validate that your coins are double spent or not, if only the hash of your first transaction to A is known.
In this regard, Sydney Ifergan, the crypto expert stated, “Whether by way of big transaction sizes or small transactions sizes Monero (XMR) so far have been delivering the most needed privacy which is the need of most of their customers.”
Monero (XMR) Big Transaction Size will need Better Specs for Validation
Some of the users were concerned and want to know what effect does Monero having bigger tx size have? The clarification read: Nodes would need better specs in order to validate, thus possibly making it a little bit less decentralized (in theory, at least when thinking of Bitcoin, don’t know so much about Monero).