The Bitcoin Association, a Swiss organization dedicated to advancing the Bitcoin SV blockchain business, stated today that the Bitcoin SV (BSV) blockchain surpassed BTC in terms of cumulative data volume; demonstrating the ability of the network to expand infinitely.
On May 16, 2021, the cumulative growth (data scale) of the BSV blockchain exceeded that of the BTC blockchain for the first time. The total amount of data stored on the BSV network reached 352.9 GB, compared to 352.4 GB on the BTC network. Since then, BSV continues to expand its leading position, increasing the amount of data stored on the chain to 367.43 GB, and as of June 4, 2021, the amount of data stored on BTC is 355.23 GB.
The BSV network provides high throughput at a very low cost (it has maintained more than 5,100 transactions per second, and is expected to demonstrate a throughput of 50,000 transactions per second later this year) (the median transaction fee of the BSV network in 2020 is lower than 1/50day One cent).
In contrast, the default block size of the BTC network is only 1 MB (the block weight is up to 4 MB), which limits its network to 7 transactions per second on the chain-which requires higher transaction fees and reduces its network cost. Utility is limited to high-value and “store of value” transactions.
On March 14, 2021, the BSV network processed a record 638 MB block (#678301 mined by TAAL Distributed Information Technology), consisting of 2,674 transactions, including several large mixed media files. From May 16, 2020, the block broke the previous world record for the largest block size-this also happened on the BSV network, when a 369 MB block (#635141, also mined by TAAL) contained 130 Ten thousand personal transactions.
Transactions on the BSV blockchain originate from a series of businesses that utilize the various functions provided by the BSV network-including simple payments, tokens, social and digital media content, online game activity and time stamp recording-as well as businesses and consumers And public sector data managed through the chain.