Bitcoin SV (BSV) Announces Sustainable 128MB Blocks During Scaling Test Network
Bitcoin SV Shows It Can Sustainable Use 128 MB Blocks
During the last years, there have been several Bitcoin (BTC) hard forks. There are many proposals for Bitcoin: Bitcoin Cash (BCH), Bitcoin Gold (BTG), Bitcoin Diamond (BCD) and many others. However, Bitcoin Cash forked into Bitcoin SV (BSV) which aims at scaling the network to the next level.
Bitcoin SV Handles 128 MB Blocks
Bitcoin SV continues to develop its own path towards scalability. Bitcoin has been experiencing scalability issues back in 2017 when the network was completely congested. Users had to pay large fees and transaction could take up to several hours to be processed.
In a recent article released by Coingeek, they explain how Bitcoin SV is pushing for massive scale on-chain. Bitcoin SV supporters believe Satoshi Nakamoto wanted to create a network that was able to handle a large number of simultaneous transactions.
In a recent tweet uploaded by the BSV Node account, the Scaling Test Network (STN) was able to maintain an average block size of 128 MB in 24 hours. This important achievement comes just a few months after the network was able to mine a block of 103 MB.
— Bitcoin SV (@BitcoinSVNode) March 8, 2019
The STN is a network that aims at testing large blocks on the BSV network. The implementation of the STN aims at reducing the impact of scalability testing on testnet and to preserve the testnet as a network to try new applications on BSV.
Blockchain networks do have a limited number of transactions that they can handle. If Bitcoin wants to compete against other solutions such as the ones provided by Visa or MasterCard, it would have to be able to scale. Coingeek says that Bitcoin developers decided to implement Segregated Witness (SegWit) and the Lightning Network (LN) that cause “disruptions in the immutability and consistency of the information stored on the blockchain.”
Bitcoin SV is the 12th largest digital asset in the market. Each BSV can be purchased for $64 and it has a market capitalization of $1.15 billion.