Bitcoin SV (BSV) blockchain comes with exciting news every now and then. This time, the flagbearer of Satoshi’s Bitcoin Vision brings bigger blocks, including the biggest one yet.
On Thursday at 11:35 pm, a 113 MB block was mined by CoinGeek mining, which makes it the biggest block sustained and mined outside of testing by far, and is just one more testament to the power of Bitcoin SV.
Just a day earlier, on Wednesday, Bitcoin SV had seen its previous two biggest blocks mined in the wild, at 56 MB and 51 MB size of blocks. In the meantime, also there has been a spree of consistently big blocks. Between 6:45 pm and 8:31 pm, the blockchain noticed several big blocks mined, which ranged in size from 22 MB to 57 MB, making for 9 blocks over 20 MB in two days’ timing.
This is something that continues to prove that with unlimited scaling, Bitcoin SV has chosen the path which will lead to the most adoption as well as the most possibilities for application developers. Any of these big blocks would have choked the other blockchain for hours with their transactions, but Bitcoin SV was able to handle it efficiently, quickly and at low cost.
The transaction fees in these blocks seem to be worth considering too. This new 113 MB block size represented 1,250 transactions, and thus the transaction fees which come with them. Each fee is, indeed, minimal on its own, but they immediately add up and make a tidy profit for a miner.
New block rewards will ultimately be supplanted by transaction fees as their income source, and Bitcoin SV offers the most lucrative path forward for this new economic model.
These big blocks are coming at the right time to be celebrated. The focus would be on looking at the potential of the Bitcoin SV Blockchain and celebrating the achievements.