MetaStreme, the new high throughput wallet service from the WeatherSV team, recently conducted a stress test on the mainnet—pushing close to 1 million transactions on the Bitcoin BSV network in 30 minutes, achieving a throughput rate of just over 600 transactions per second.
We plan to conduct a #BSV mainnet test today @ 8am UTC. If all goes well we hope to broadcast 1 Million transactions within half an hour at a rate of about 500-600 TX/sec.
— MetaStreme (@MetaStreme) June 24, 2020
CoinGeek caught up with WeatherSV and MetaStreme founder Paul Chiari to learn more about MetaStreme’s successful mainnet stress test.
What is MetaStreme?
For those who don’t know, MetaStreme is a robust and scalable Bitcoin wallet designed to meet the demands of high volume transaction applications.
But unlike Money Button and Handcash, MetaStreme is not a typical wallet with a user interface. Instead, it is a scalable framework for executing high volumes of autonomous transactions. MetaStreme aims to meet the needs of IoT devices, enterprise systems, and other high throughput applications that want to utilize the inherent benefits of a public distributed ledger.
HandCash performed like a CHAMPION during this blast of transactions. https://t.co/QYFt3eVgCc
— Alex Agut (@apagut) June 24, 2020
In regards to their mainnet stress test, MetaStreme’s goal was to pass 1 million transactions through the BSV network within 30 minutes! This is what Chiari told CoinGeek about the recent stress-test:
What was the purpose of the mainnet test?
We needed to ensure that MetaStreme works as intended and also needed to gauge computational costs of running such a service. We first ran some tests on the BSV testnet and STN which looked promising but wanted to be sure that we achieve the same on the BSV mainnet and that the network is capable of handling this throughput.
The network ate this up. What we know about network behaviour is that it handles intense bursts of traffic very nicely. The real challenge is sustained throughput which we are rapidly improving on. https://t.co/FiAwtveNfE
— Shadders (@shadders333) June 24, 2020
Was MetaStreme able to reach its goal of 1 million transactions in 30 minutes?
We were on track averaging around 600 tps but unfortunately we just fell short at around 970K.
Did the team experience any network issues when working to accomplish that goal?
Yes, we had a node go offline or drop the connection with us which caused some issues for our connectivity with other nodes. This highlights the importance of real world testing under load as we can now ensure we implement measures to deal with this in the future.
How much does a network test like that cost? What is the average size of each tx and what is the average transaction fee?
One million transactions would have cost us 1.1 BSV with each transaction around 220 bytes each and a fee rate of .5 sats/byte.
What does MetaStreme have in store for the future? What’s next for the MetaStreme team?
Firstly, we have some more efficiency gains to implement and test on MetaStreme, then we will open the platform to our beta testers ASAP and bring WeatherSV onto the platform. We will finalize a business model around the service and hopefully start generating income in the near future. We are looking forward to engaging with some of our partners and others in establishing use cases with a focus on IoT devices used in a range of industrial applications.
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