Yeah I don't get it either, something seems deeply wrong here.

These are impressive numbers but I wonder about something... Binance is a centralized cryptocurrencies exchange. But AIUI "defi" is a thing: instead of using a CEX (Centralized EXchange), people can use a DEX (Decentralized EXchange).

And apparently there's a gigantic number of trades happening in the defi world. And it's all happening on public ledgers right? (I'm asking, I don't know: are the "level 2" chains public?).

And the sum of all the public ledgers / blockchains transactions do not represent anywhere near 1.6 PB a day.

And yet DEXes do work (and often now, seen that volume picked up, have liquidity and fees cheaper than centralized exchanges).

Someone who know this stuff better than I do could comment but from a quick googling here's what I found:

    - a full Ethereum node today is 1.2 TB (not PB, but TB)
    - a full Bitcoin node today is 585 GB

There are other blockchains but these two are the two most successful ones?

So let's take Ethereum... For 1.2 TB you have the history of all the transactions that ever happened on Ethereum, since 2015 or something. And that's not just Ethereum but also all the "tokens" and "NFTs" on ethereum, including stablecoins like Circle/Coinbase's USDC.

How do we go from a decentralized "1.2 TB for the entire Ethereum history" to "1.6 PB per day for Binance transactions"?

That's 1500x the size of the freaking entire Ethereum blockchain generated by logs, in a day.

And Ethereum is, basically, a public ledger. So it is... Logs?

Or let's compared Binance's numbers to, say, the US equities options market. That feed is a bit less than 40 Gb/s I think, so 140 TB for a day of actual equities options trading datafeed.

I understand these aren't "logs" but, same thing...

How do we go from a daily 140 TB datafeed from the CBOE (where the big guys are and the real stuff if happening) to 10x that amount in daily Binance logs.

Something doesn't sound right.

You can say it's apples vs oranges but I don't it's that much of apples vs oranges.

I mean: if these 1.6 PB of Binance logs per day are justified, it makes me think it's time to sell everything and go all-in in cryptocurrencies, because there may be way more interest and activity than people think. (yeah, I'm kidding)

EDIT: 1.2 TB for Ethereum seems to be a full but not an "archive" node. An "archive" node is 6 TB. Still a far cry from 1.6 PB a day.