ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
Buy Crypto Now
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home News

Bitcoin SV Crosses 100 MB Blocksize Threshold, The First Public Blockchain To Do So

Arshmeet Hora by Arshmeet Hora
January 5, 2019
in News
0
Bitcoin SV | SV | 100MB Blocksize
0
SHARES
110
VIEWS
Share on FacebookShare on Twitter

Bitcoin SV (BSV) came into existence on Nov 15, 2018, and have had experienced its fair share of positive and negative events in just a couple of months. In its most recent achievement, BSV becomes the first chain to cross the 100 MB threshold, according to the recent press release from Coingeek.

Bitcoin SV has mined the largest block in terms of size in the history of cryptocurrency, the 103 MB block is the world’s largest ever on a public blockchain. The release states:

“The first to ever cross the 100MB threshold, the block was mined on January 3 at block height 563638 containing 460,400 transactions by Mempool, a mining pool based in China. Fittingly, the record-setting block was mined on the 10-year anniversary of the genesis block, which originated the Bitcoin blockchain. “

It’s Effect on Bitcoin SV 

Bitcoin SV was the lesser favored hard fork in the Bitcoin hash war, achieving such a feat is a massive plus for the protocol. In addition, if BSV consistently produces such big blocks, it could become the world’s enterprise blockchain.

BSV claims that it is the only blockchain that continues the original Bitcoin vision. In November 2018, BSV underwent a Professional Stress Test that resulted in then-record size blocks mined using Bitcoin SV, which was an implementation of the Bitcoin Cash protocol at the time.  The test produced a 64MB block mined by CoinGeek Mining and a 38MB block came mined by SVPool, a personal initiative of nChain Chief Scientist Dr. Craig S. Wright.

With the original Bitcoin Core (BTC) continues to restrict its block cap to a small 1MB (4MB capacity with SegWit), the current block size of BSV offers significant advantages.

The world record block

The 103MB world record block was mined as the result of testing work done by Mempool in China. Mempool CEO and Co-founder Lin Zheming remarked:

“Mempool is committed to being a serious miner in the bitcoin ecosystem. From our testing work, we learn valuable information which will help the future of the bitcoin. We look forward to collaborating and compete with nChain, CoinGeek Mining, and others to achieve much bigger blocks and fulfill the Satoshi Vision for Bitcoin. Bitcoin SV is the only bitcoin implemented as described in the Satoshi whitepaper.”

Blockchains have been plagued with scalability issues. With Bitcoin block reward halving next year, the miners are looking out for making up the lost block reward value through higher volumes of transaction fees.  This implies that BTC needs much larger sized blocks, to fit large numbers of increasingly diverse transactions beyond simple payments, such as a token, smart contract, and other data transactions.

Read more: Mysterious Bitcoin Creator, Satoshi Nakamoto Is The World’s 44th Most Powerful Person in Finance

Tags: Bitcoin SVBSVCryptocurrency NewsLatest Cryptocurrency NewsLatest Cryptocurrency Updates
Previous Post

Mysterious Bitcoin Creator, Satoshi Nakamoto Is The World’s 44th Most Powerful Person in Finance

Next Post

Ledger Announced New Bluetooth Enabled Cryptocurrency Hardware Wallets

Next Post
Ledger | Bluetooth Enabled Cryptocurrency Hardware Wallets | Cryptocurrency Wallets | Nano X

Ledger Announced New Bluetooth Enabled Cryptocurrency Hardware Wallets

Recent Stories

ETH Price Analysis: Upside Run Resumes As ETH/USD Fixate on $2K, Bolstered By On-Chain Metrics

ETH Price Analysis: Upside Run Resumes As ETH/USD Fixate on $2K, Bolstered By On-Chain Metrics

March 4, 2021
Venture Capital Investor Tim Draper Says Netflix May Be Next Fortune 100 Company To Purchase Bitcoin

Venture Capital Investor Tim Draper Says Netflix May Be Next Fortune 100 Company To Purchase Bitcoin

March 3, 2021
BlackRock

Citigroup Says Bitcoin Could Be At The Verge Of a “Massive Transformation Of Cryptocurrency Into The Mainstream.”

March 3, 2021
Bitcoin Retests $52K, On-Chain Data Indicates Long Term BTC Holders Were Not Fazed by the Recent Correction

Bitcoin Retests $52K, On-Chain Data Indicates Long Term BTC Holders Were Not Fazed by the Recent Correction

March 3, 2021
BTC Price Analysis: Buyers Weigh Up BTC/USD Price Beyond $52,000 As Stimulus Bill Sparks USD Bears

BTC Price Analysis: Buyers Weigh Up BTC/USD Price Beyond $52,000 As Stimulus Bill Sparks USD Bears

March 3, 2021
XRP

Ripple XRP: New Player in Crypto – Perks and Uses

March 3, 2021
Betting

Safer Betting with Ethereum

March 3, 2021
OPOLO Hardware Wallet – Review

OPOLO Hardware Wallet – Review

March 3, 2021
LINK Price Analysis: LINK/USD Price Upticks to $30.50, Crypto Lender BlockFi To Support Chainlink Deposits

LINK Price Analysis: LINK/USD Price Upticks to $30.50, Crypto Lender BlockFi To Support Chainlink Deposits

March 2, 2021
BTC

Citi Bank Says Bitcoin May Become The Currency For Global Trade

March 1, 2021

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.