Ethereum Genesis file private network

Question

Need some basic info on ethereum. Can I send 1 million transaction in a day in ethereum private network?If yes, how much gas will be required(approx)?

How much of maximum gas limit can we define for a node?

And I have a doubt that if I reinitialize the genesis file then, whether a new blockchain is started or it continues with the older one?

Answer 1

Can I send 1 million transaction in a day in ethereum private network?

Yes, that's around 12 transactions per second, that's no problem .

1000000 / (24 * 60 * 60) = 11.574

If yes, how much gas will be required(approx)?

A transaction without anything else but value transfer costs 21,000 gas.

That is 21 billion gas per 1 million transactions per day, or (assuming a 15 seconds block time) 3.6 million gas per block:

 21000000000 / (24 * 60 * 4) = 3645833.333

The default gas limit on Ethereum public network is 4712388 (1.5 * pi million). But it's trivial to increase the target gas limit.

How much of maximum gas limit can we define for a node?

In theory, you should be able to set the gas limit as high as you wish, however, that's not practicable, as discussed in EIP-106 which suggest limiting the maximum block gas limit to 2^63 - 1 .

And I have a doubt that if I reinitialize the genesis file then, whether a new blockchain is started or it continues with the older one?

Yes, if you change the genesis, this will in most cases start a new blockchain.