CoinMetrics Data Reveal 96% of Transactions on Bitcoin SV Network Spawn From a Weather App
Bitcoin SV network has seen a recent surge in a transaction on its platform, however, a recent data from the crypto analytic firm CoinMetric suggest that 96% of all transactions on the platform is coming from a Weather application. The weather app in question is Weather SV, wrote a majority of the transactions.
CoinMetrics studied the OP_RETURNS, a script that can be used to write arbitrary data on a public ledger. Weather SV used the maximum OP_Returns to write the transaction data on the BSV ledger.
“On July 14th, over 96% of BSV transactions included an OP_RETURN,”
The data signifies the contribution of the application on the BSV network, where its core function is to record and retrieve weather data on the BSV blockchain. The website of Weather SV suggests that any consumer can activate the service on their phone by paying an AUD 5, and in return, they would receive 142 days of hourly forecast and weather updates.
It seems the income from the Weather SV application gest distributed among node validators which might explain the recent surge in transactions on the network. CoinMetric data also revealed that the BSV network’s total transaction cost is growing faster than the likes of Bitcoin and Bitcoin Cash. While the transaction data on the Bitcoin network is slightly sideways and Bitcoin Cash is showing steady growth, the BSV network has shown wild oscillations and volatility in both directions.
The Rising Transactions on the BSV Network Starts Debate Between the Pro-BSV side and Anti-BSV Side
As the CoinMetric report came out, it started the debate between the supporters of BSV and those who are everything against what Craig Wright is associated with. Bitcoin Cash proponents accused BSV network of favoring one application over the others to gain that extra whip of the transaction on the platform. However, BSV proponents claimed that the increased transaction is an indication that people are realizing the potential in BSV network and they are finally accepting it over other blockchains.
One of the anti-BSV Twitter users said,
“The app is completely meaningless, It just copies data from a centralized weather service and writes it on the SV blockchain.”
The Pro-BSV responded with
“Yes. Weather data that lives forever. If you don’t see value in that I’m gonna have to come back down to google and explain.”
Amid the war of words, a few sane voices said that the BSV network is comparatively new and an increase in transaction data suggests an optimistic future for the network. One of the Twitter users said,
“That’s pretty amazing if you think about it. All of those TXs from only ONE app. Think when there are dozens, hundreds, thousands of apps. I guess people do want to use bitcoin and not just HODL it,”