The Bitcoin SV (BSV) blockchain is providing exciting news every day. Block sizes are getting bigger, and more consistently so. Today, the flagbearer of Satoshi’s Vision brings more big blocks, including the biggest one yet.
At 11:35pm UTC on March 28, a 113MB block was mined by CoinGeek mining. That makes the biggest block sustained and mined outside of testing yet, and is another testament to the power of BSV.
Just the previous day, on March 27, BSV had seen its previous two biggest blocks mined in the wild, at 56MB and 51MB in size. In the time in-between these record setting achievements, there’s also been a spree of consistently big blocks. Between 6:45pm and 8:31pm, the blockchain saw several big blocks mined, ranging in size from 22MB to 57MB. That makes for 9 blocks over 20MB in two days’ time.
Not to beat a dead horse, but this continues to prove that with unlimited scaling, BSV has chosen the path that will lead to the most adoption, and the most possibilities for app developers. Any one of these big blocks would have choked another blockchain for hours with their transactions, but BSV was able to handle the quickly, efficiently, and at low cost.
The transaction fees in these blocks are worth considering as well. This new 113MB block represented 1,250 transactions, and thus the fees that come with them. Each fee is of course minimal on its own, but they quickly add up and make a tidy profit for a miner. New block rewards will eventually be supplanted by transaction fees as their source of income, and BSV provides the most profitable path forward for this new economic model.
This is of course possible because of the massive adoption by developers. Bitstagram and Bitpaste have provided real uses for end users, allowing them to save important files and images to the blockchain for reasonable fees. The introduction of Unwriter’s Bottle BSV blockchain browser provides a new way forward for the world to browse these types of files as well, allowing users to browse the end product.
These big blocks are coming at the perfect time to be celebrated at the upcoming CoinGeek Toronto conference. The focus will be on celebrating the achievements and looking at the potential of the Bitcoin SV blockchain. If this all sounds exciting to you, go on and register to attend, and save yourself some money on tickets by using BitcoinSV via Coingate.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.