Tech

Derek Tonin

Bitcoin SV mines first ever 128MB block, proving Satoshi’s Vision

The Bitcoin SV (BSV) has targeted scaling massively, with the faith that if you provide the world an unlimited block size, developers and users will find a way to create new possibilities. This faith is already confirmed, as the BSV blockchain has now mined its biggest block yet: 128MB.

The momentous occasion came at 12:36 a.m. UTC On March 30, when a 128MB block was confirmed by nChain’s BMG mining pool. The block held 1,440 transactions, and could very well be the record for a while, as it’s the current block cap for the BSV blockchain.

This beat the previous record, set less than an hour earlier, of 124MB. That block was also mined by nChain’s BMG mining pool.

These aren’t isolated incidents either; BSV has seen its block size growing pretty consistently. It hit new records on March 27 with two blocks over 50MB. It then smashed those records with a 113MB block on March 28.

This is once again confirmation that BSV has vindicated Satoshi’s original vision of massive scaling. By giving the world more possibilities, businesses and users have met the challenge and used increased block sizes to their full potential.

Important figures in the Bitcoin world have celebrated this momentous occasion on Twitter. Bitcoin Association Founding President Jimmy Nguyen commented “We now live in the era of 128MB blocks.”

CoinGeek founder Calvin Ayre also join in on the celebration, inviting the world to meet the legends who made this possible with the real Bitcoin at the upcoming CoinGeek Scaling Conference in Toronto.

Since the block cap has been reached, the next step will be to scale even more. The Bitcoin Association has previously stated the goal is to scale to 1GB in the near future, and it looks like that bigger block size will come in handy as the Bitcoin community continues to find new ways to fill those blocks.

There can be little doubt that they will, either. It’s only been a few months since Bitcoin was reborn as Bitcoin SV, and since it started down its path of unlimited scaling, protocol stability, and professionalization, so many businesses and applications have developed and found adoption. Exchanges have come on board, wallets have signed up, and new payment options have adopted BSV. And that’s just talking about the ways BSV can be used as the world’s new money.

Let’s not forget the new ways BSV has unleashed the blockchain as the world’s data network. With the increase of OP_RETURN, apps like Bitstagram and Bitpaste are now possible. Looking to a future where BSV is the place we turn to for data, we also now have Bottle, the BSV blockchain browser, a dedicated way to pull up files saved to the blockchain.

There’s no better time to celebrate the achievements of the BSV blockchain. If you’re looking to mark the occasion, why not check out the upcoming CoinGeek Toronto conference. Like Calvin Ayre noted, this scaling conference will have the top minds of the BSV world, and will celebrate the scaling achievements we’ve already seen. If you want to be a part of it register to attend, and show your appreciation of BSV and save a few bucks by using BitcoinSV via Coingate.

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