Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours

On September 1, 2018, the Bitcoin Cash (BCH) network was put to the test as BCH proponents flooded the mempool with millions of transactions over the last day. According to statistics during the last 24-hours, BCH miners have processed over 2 million transactions so far and the Stress Test Day is still not over.

Also Read: August 2018 Volume Rankings Report: ETC and Dash Top Ten

Close to 2M Transactions Processed So Far

The Bitcoin Cash chain is chugging along processing millions of transactions on September 1, 2018. Over the last day with 2M transactions (tx) processed so far, BCH has outpaced the Ripple (XRP 1.7M tx/day) and Ethereum (ETH 1.2M tx/day) network’s 24-hour tx record. Right now statistics stemming from the data website Fork.lol show that the BCH chain has processed 2,060,041 transactions over the last 24-hours. Statistics also show that the BCH chain has processed 85,835 tx per hour, and 23.8 tx per second.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours

Of course, Bitcoin Cash proponents are celebrating the momentous occasion and participating by using tools like scale.cash. There have been a ton of celebration parties all over the world with people monitoring and participating in the BCH stress test while sipping on their favorite beers.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours
The average number of transactions per block according to Fork.lol. Orange (BTC), Blue (BCH). 

The community has been fixated on websites Txhighway.com, Txstreet.com, and Bitcoinsubway.cash watching all the transactions confirm with some added old school 8-bit style. There have been lots of pictures shared online of these fun websites and other data sites like Blockchair, Coindance Cash, Fork.lol, and Johoe’s Bitcoin Cash mempool statistics. The reason for the abundance of screenshot shares is because the BCH chain has been breaking numerous records all day.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours
Lots of people sharing images of Txhighway.com on September 1. 

Big Blocks

One example of shattering records comes from the enormous blocks processed on September 1 by BCH miners. Miners for the first time ever surpassed the highest mined block size, which was previously 8MB. On the day of the stress test, there were plenty of 4-8MB blocks but also 9, 10, 13.5,14 and even the largest at 15.2MB in size. Mining operations such as Viabtc, BTC.top, Coingeek, BMG Pool, Waterhole, Bitcoin.com, and others processed block sizes much larger than 8MB.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours

Even though the day was an experiment, 23 transactions per second is considerably larger than BTC’s 3 transactions per second and many of the other blockchain networks. Further, instead of people getting upset about tons of microtransactions and calling it a ‘spam attack,’ BCH stress day participants have relentlessly processed thousands a day, and miners processing big blocks had cleared the mempool (transaction queue) effortlessly.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours
Memo.cash got a lot of use this Saturday.

In addition to this, the Bitcoin Cash network fees remained low the entire time, unlike what took place this past December on the BTC network. BCH median fees today were $0.001 per transaction and were actually lower than usual. Overall the day was successful to most BCH supporters as, even though it was just a test, it showed just how well big blocks could process transactions.

What did you think about the stress test on September 1? Did you participate? Let us know your thoughts on this subject in the comment section below.


Images via Shutterstock, Fork.lol, Twitter, and Pixabay. 


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Bitcoin.com Wallet Celebrates 2 Million Wallets Created

Bitcoin.com Wallet Celebrates 2 Million Wallets Created

This week our company is proud to say that two million Bitcoin.com Wallets have been created since its release just seven months ago. The multi-currency wallet allows users to store Bitcoin Cash (BCH) and Bitcoin Core (BTC) in a non-custodial fashion. Moreover, our developers have big plans for the Bitcoin.com Wallet as more features are coming to the platform in the future.

Also read: How To Regain Control From Nanny Zuck

Two Million Wallets Download Since August

Bitcoin.com Wallet Celebrates 2 Million Wallets CreatedThe Bitcoin.com Wallet reached a milestone of over two million wallets created this week. Bitcoin interest and demand has spurred thousands of downloads each and every week since the wallet was introduced back in August of 2017. The multi-currency wallet that holds BCH and BTC is available for download on mobile or desktop from every major operating system, including Windows, Mac, Linux, Google Chrome, Android, and iOS. The wallet allows users to store their private keys themselves; which means the funds are not held by a third party and Bitcoin.com has no access to the coins.

Just recently the wallet has added a few additions to the client’s interface making the user experience more enjoyable. For instance, the Bitcoin.com Wallet is one of seven wallet providers that offers Bitpay’s Payment Protocol compatibility. This makes paying Bitpay invoices with the Bitcoin.com Wallet simple and easy. Moreover, the wallet now offers ShapeShift abilities by utilizing the company Shapeshift’s API. This means users can swap BTC for BCH or vice versa natively—within the wallet’s interface. The platform also allows for multi-signature wallets where keys can be split between more than one device/user for added security.   

Bitcoin.com Wallet Celebrates 2 Million Wallets Created
The Bitcoin.com Wallet enables the ability to swap BTC for BCH or vice versa via the Shapeshift API.

Demand for Bitcoin Cash Has Doubled Usage

Bitcoin.com’s owner and CEO Roger Ver is excited about the future of his company’s flagship product. Ver states during the announcement:

“Usage of our wallet has doubled in less than three months as demand for Bitcoin Cash continues to grow worldwide. With this, we are seeing an increase of industry support as well as merchant adoption on websites and retail venues. We are working hard to consistently roll out new features and improvements that add to the user experience of the Bitcoin.com Wallet.”

Bitcoin.com Wallet Celebrates 2 Million Wallets Created

Our open source Bitcoin.com Wallet has many new features coming in the near future. In time, there will be the potential for debit-card top offs using the platform. Bitcoin.com developers are also researching BCH-based colored coin management. The Bitcoin Cash network may soon have the ability to create token based assets (colored coins), and Bitcoin.com wants to remain at the forefront of such technological advances.

Two million wallets created is a significant milestone for us, but it’s also just the start. Bitcoin.com hopes to provide wallets, tools, and educational resources to everyone all across the globe. The user-friendly Bitcoin.com Wallet is pushing that goal towards the next level as the cryptocurrency economy continues to grow exponentially.

Check out all the latest features and download the Bitcoin.com Wallet today!

Do you use our wallet? Let us know what you think about the Bitcoin.com Wallet in the comments below. 


Images via Shutterstock and Bitcoin.com.


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