Bitcoin Cash (BCH) stress test was launched on 1st September 2018 to analyze the transactions over the BCH network. According to the BCH stress test statics over 2 million transactions were processed by the bitcoin cash miners in last 24 hours.
Though the scheduled date for the stress test was in November but it has launched on September 1st, 10 weeks before the scheduled date. According to the stress test website, the stress test is a community-driven test which is designed for bitcoin cash mainnet and its services. The aim of the test is to create millions of minimum fee transactions within 24 hours. The huge volume of minimum fee transactions has proven that the BCH main network is capable of handling such volumes and also capable of scaling chain. Collected data will also helpful for businesses and developers who are providing services on the BCH network. It will give them a chance to stress test their services. The cost of the stress test is spread across the community so the cost per user will be very little.
According to the stress test, around 2.1 million transactions were processed on the bitcoin cash network. So far bitcoin cash has outpaced Ripple and Ethereum. According to BitInfoCharts, the share of bitcoin cash transaction was around 63% of the total crypto transaction. Bitcoin cash chain has processed 85,835 transactions per hour and 23.8 transactions per second. It’s a time for celebration for the Bitcoin Cash proponents. People all over the world who are participating and monitoring BCH stress test are enjoying the momentous occasion.
After the stress test price of bitcoin cash has shot up. It is the biggest gain over the past 24 hours among top 20 cryptocurrencies by market capitalization. Bitcoin average transaction fee has declined a bit from $0.002 to $0.0017. According to Coin Dance, the volume of microtransaction on bitcoin cash network surged up to 14,300 per block during the stress test. According to the Fork lol statics, per block number of transactions even reached to 25,783 which was higher than the usual transaction per block. For Bitcoins average transaction per block amounts between 1,000 and 1,500.