Bitcoin Cash (BCH) Network Stress Test Details: September 1, 2018 Details
Upcoming Network Stress Test Will Put Bitcoin Cash Ecosystem to New Limits, As Supporters Create New Tools to Handle the Pressure
September 1st will be a day that marks a major moment in the cryptocurrency world, as the Bitcoin Cash ecosystem sees how well their platform performs under the most pressure it has ever seen. The participants in this token aim to conduct a stress test on the network, which means that the network will see millions of transactions throughout the day. Individuals and groups will be participating in this influx, through there are advocates of the company that have been pushing the limits with high numbers of small transactions. To prepare, they are also developing new tools that could save the network from crashing when the day arrives.
The goal of the stress test is to examine the strength and reliability of Bitcoin Cash’s network, and it will not be the last. The individuals and companies involved have been testing the network already to prepare it, with about 687,000 transactions being logged on August 1st alone. The promoters involved are hoping that every participant on the network will contribute to the test, and there are tools like Memo.cash games that will speed up the transactions. One Twitter user has even developed a tool that will send thousands of transactions at once called Scale.cash.
For users to participate in the Bitbox-powered platform, they need to deposit between 12,000 and 1,300,000 satoshis into their wallet. It does not matter if the wallet is existing or new, but it needs to be backed up with a WIF, mnemonic, and proof of tx signature. Any transaction that goes out just needs to be confirmed the first time, while the platform shoots off transactions in batches of 20. To understand the entire process, Gabriel Cardona of both Bitbox and BCH has offered a guide for Scale.cash. It is only accessible by the Bitcoin.com developer portal.
This collaborative effort has setup a Twitter handle, @StressTestBCH, to allow investors to follow along on the latest information regarding the upcoming test. There are plenty of fun and promotional activities for the day, like the Yobits challenge that allows users to guess how many transactions actually get processed on the day, which costs 10,000 satoshis. Other games can be found on memo.cash.
The program has been publicized for a while now. Despite being months away at the time, there has been a noticeable surge in transactions on the Bitcoin Cash chain since June 29th, which has been steadily continuing. The company has seen an average of 40,000- 100,000 tx per day in influx daily, and testers are still sending hundreds of transactions to get the network acquainted with the high volume. Yesterday, on August 19th, the network saw 128,000 tx for processing.
Miners are contributing to this effort as well, periodically processing bigger blocks to make room in the mempool. On August 19th, multiple BCH miners came through from BTC.com, Viabtc, and Coingeek to clear out transactions and blocks, with some as big as 4.7MB. Many of the supporters are pushing for more blocks now so that the stress test becomes less of a challenge and more of an easy victory for the Bitcoin Cash network.