Bitcoin SV (BSV) successfully rolled out the Quasar update on July 24 in an effort to push the block size cap up to 2 gigabytes (GB). Despite assertions by anti-BSV shills that the sky would come crashing down after the upgrade was complete, just the opposite has happened. Not only was the update successful, but several 2GB blocks have already been seen — six in a row, as a matter of fact.
The blockchain hasn’t crashed, the Bitcoin ecosystem hasn’t come to a grinding halt, and it hasn’t started raining fishes. What has happened, though, is that WhatsOnChain shows consecutive 2GB blocks being mined on the BSV Scaling Test Network (STN). The STN is a live network that is available for businesses to use to test limits for their applications before launching them on the mainnet.
2GB blocks on STN!! pic.twitter.com/6y2pbCb3qG
— WhatsOnChain (@WhatsOnChain) July 24, 2019
Shortly after the Quasar update was live, the first 148MB block was seen. This effectively cemented Quasar as the new software for the BSV blockchain. Knowing that 2GB blocks are easily achieved, there is a considerable more amount of development that can take place on the BSV network.
The 147mb block is now buried under 6 additional blocks. I think we can call it now.
Quasar upgrade is locked in. https://t.co/HU8dqzEIEo
— Shadders (@shadders333) July 24, 2019
According to the Bitcoin Association, “The Quasar upgrade represents a key step in BSV’s journey to unlock the massive on-chain scaling power that was always possible with Bitcoin, and enable BSV to become the global enterprise blockchain. BSV can already handle 300+ transactions per second comfortably; this capacity is continually being expanded and is expected to cross 1000+ transactions per second in the coming months after the Quasar network upgrade. This level of capacity can compete with VISA payment network capacity and also supports enterprise applications.”
BSV has now become the first — and only — blockchain to process 2GB blocks on-chain. While virtually everyone else said it couldn’t be done, BSV has proven that Satoshi was correct when he asserted in his early writing that large block sizes were possible on Bitcoin’s blockchain. Bitcoin Core (BTC) pundits have asserted since the beginning of time that anything larger than 128 megabytes (MB) would cause the blockchain to implode.
With Quasar in place, the next step is the Genesis upgrade. This is planned for next February and is designed to completely remove all block-size caps. If building business solutions on the blockchain is feasible with a 2GB limit, imagine the possibilities with no limit.
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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