SpendBCH: Bitcoin Cash (BCH) Cryptocurrency Shopping Store?
What Is SpendBCH?
SpendBCH.IO is an online website driven by Bitcoin Cash (BCH) network stress test, which is planned to take place during the BCH Stress Test Day (BCHSTD). According to the organizers of the test, they define it as a 100% non-malicious stress test on the BCH network. The network test involves processing millions of minimum fee transactions all in one day at once with the joined participation of everyone in the BCH community.
How SpendBCH Network Test Works
Anyone can participate in the operation to try to spam the network with millions of transactions using a tool developed by SpendBCH.io in collaboration with the BCH developer toolkit, Bitbox, which is an open source project. The open source tool is identified as node.js and its main purpose will be stress testing the BCH network. The tool is accessible through the open repository Github.
— Gabriel Cardona (@cgcardona) July 1, 2018
The developers of the tool recognize the fact that the tool is the starting point towards the one BCH bounty that is on offer for anyone who is able to create a more advanced web application tool for all devices.
Increase In The Number Of Transactions
Gabriel Cardona, who is the founder of Bitbox.earth, as well as many other Bitcoin Cash enthusiasts through their twitter handles have acknowledged the fact that the number of transactions using BCH have increased since the announcement of the network test. Using the data collected from Johoe’s Mempool, and Fork.lol, the upward trend in the BCH transaction count can be easily monitored and evaluated.
Purpose Of The SpendBCH Test
Currently, the maximum block capacity size for bitcoin cash is 32 MB, which is high when compared to other ledgers in the market today. This means that the transactions that can be processed using bitcoin cash are significantly higher than any other chain.
However, this was not the case previously. BCH chain had around 8 MB blocks whereas miners only processed between 2-8 MB blocks during that period. The Chinese Bitcoin mining pool had similar block capacity size whereby, one 8 MB block was responsible for clearing over 37,000 transactions at once. It is in this regard that the organizers of the testing event want to identify the strength of the BCH network by sending numerous transactions to the BCH chain at the same time within the 24-hour period.
The tests are anticipated to begin on September 1 at approximately 12 PM UTC. The activities for the day include the team having their breakfast at around 9 AM and at 10 AM, the team will prepare the scripts and load the BCH accounts of the users. At noon, the will ensure the proper functioning of the script and work together with Memo.cash to post and tip users.
After the completion of these, users will have the opportunity to play games or even bet on the Satoshi Dice and other gambling sites that will be available on the day. Once all these activities are completed, users can monitor how the network undertakes all the multiple transactions.