Bitcoin SV (BSV) Records Largest Block Size Mined by any Public Blockchain

Bitcoin SV (BSV) Records Largest Block Size Mined by any Public Blockchain

Bitcoin SV

The Bitcoin SV (BSV) recently witnessed two record size blocks being mined on the network. The network recently saw two, 128MB blocks mined on its network. These two blocks are the largest ever recorded on any public blockchain.

Mining Took Place One day Apart

According to information announcing the record-breaking block size mining. It was reported that the first huge block was mined on March 30, 2019, by nChain’s BMG Pool. Within 24 hours to that time, another one was mined by entrepreneur Calvin Ayre’s CoinGeek Mining operation. These record-setting blocks prove that massive on-chain scaling works on Bitcoin, and Bitcoin SV is succeeding as the only project following Bitcoin’s original design and protocol.

Currently, the Bitcoin SV block size is capped at a default maximum block size of 128MB. This simply means the recent huge blocks contained sufficient data from BSV users to fill the current cap. The few days preceding the record-breaking block mining saw the network mining big block sizes. A 113MB block was mined on March 28 by CoinGeek Mining and numerous blocks above 50, 60 and even 80MB – all far larger than blocks on any other competing blockchain.

Jimmy Nguyen, Founding President of Bitcoin Association which advances the global Bitcoin SV ecosystem, observes:

“For too much of its 10-year life, Bitcoin has been artificially restricted. BSV users are now proving the original Bitcoin can massively scale and that Satoshi Vision is correct. We are thrilled to see the explosion of user creativity organically fill big blocks with new forms of data and generate more transaction fees for miners. With the BSV network handling big blocks quite well, we look forward to lifting the block cap even higher this year.”

Nguyen adds:

“Whereas other Bitcoin and cryptocurrency project supporters focus on price and market cap, Bitcoin SV is building a blockchain that is ready for business with massive scaling, with real utility to support real long term price value. We are also building an ecosystem that is regulation-friendly, which is essential for Bitcoin usage to become widespread. For any big business looking to build blockchain applications, we invite you to build on the global enterprise blockchain and to use the world’s new money – Bitcoin SV.”