BSV Blockchain Handles Record 86million Transactions in 24 Hours
The BSV blockchain has successfully fulfilled its promise of scaling up, surpassing its previous records for daily on-chain transactions. The number of transactions generated by Vaionex on BSV has exceeded 86 million, which is a testament to the blockchain’s ability to handle a vast amount of transactions. On Thursday, the daily transaction volume processed by BSV amounted to 73.4 million, with each block processing 560,940 transactions on average, or 854 transactions per second. As per the data provided by BSVData, the mining process resulted in the generation of more than 16 bitcoins in fees, with an average fee of $0.00000009.
The BSV blockchain is indisputably the preeminent utility blockchain. The present-day marks a significant milestone as 80% of transactions have been processed via the TAAL API, indicating that the software of TAAL and the BSV blockchain are performing as intended and can scale limitlessly. Despite its primary focus on Bitcoin and its significant emphasis on transaction processing on the BSV blockchain, TAAL offers more than just mining services. The enterprise offers blockchain services that come with supplementary benefits, including personalized transaction processing solutions and digital asset tokenization through the utilization of the STAS protocol.
The resilience achieved thus far by the network and infrastructure managed by transaction processors or miners has been clearly demonstrated. According to a statement by Frank Dickob, the Director of Provisioning at the Bitcoin Association, their regular production systems have successfully processed over 85 million transactions within a 24-hour period without any disruptions. It is our belief that there exists room for expansion and creativity in the development of upcoming essential services, which will enable the realization of greater transaction volumes. Our collaborative efforts will persist in advancing this achievement and expediting the acceptance of BSV as a blockchain solution that is both scalable and cost-effective, while also ensuring its security.
TAAL is suitably positioned to cater to the needs of governments and enterprises as they acknowledge the transformative potential and extensive usefulness of blockchain technology. Unlike other providers of blockchain services who are constantly stuck in the “it will be ready in 18 months” mindset, recent record-breaking days, such as yesterday, showcase that TAAL and the BSV blockchain have the ability to offer scalable solutions right away.
Notwithstanding the fact that the BSV blockchain’s scalability is evidenced by the unprecedented volume of transactions, the rivalry among utility blockchains and the entities creating their respective solutions remains intense.
To break the 100m transactions, we need to sustain 1200 tx/s for 24h. We are getting very close. Inviting anyone in the #BSV ecosystem to join forces with us to see what the network can do. pic.twitter.com/6uirL6y7Dj
— Rob (@Rob_GCC) May 26, 2023
From May 31 to June 2, the London Blockchain Conference, which is the world’s largest blockchain conference, will concentrate on the positive impact that scalable blockchains can have on the world. Individuals involved in the development, entrepreneurship, and representation of government and business entities who are interested in exploring blockchain solutions are highly encouraged to participate. All individuals are invited to participate, irrespective of the blockchain(s) they are presently engaged with.
The primary emphasis of the London Blockchain Conference will not revolve around the valuation of tokens or the conjecture of digital currency. The intention is to showcase to the global community the transformative potential of blockchain technology across various sectors such as finance, cybersecurity, and supply chains, and logistics.