How Does SPV Reduce the Data Load for Mobile Cryptocurrency Wallets?
SPV significantly reduces the data load by eliminating the need for the wallet to download the entire transaction history of the blockchain. A mobile wallet only needs to download the block headers, which are tiny in comparison, and request the specific Merkle Proofs for its own transactions from a full node.
This saves massive storage space and bandwidth on mobile devices.
Glossar
Mobile Wallet
Custody ⎊ A mobile wallet, within the context of cryptocurrency, options trading, and financial derivatives, primarily functions as a non-custodial or custodial interface facilitating secure storage and management of digital assets and related instruments.
SPV
Architecture ⎊ Special Purpose Vehicles, within cryptocurrency, function as segregated entities designed to isolate risk and facilitate specific financial operations, often involving the issuance or management of tokenized assets.