Bitcoin Association runs massive BSV network demonstration

Even when put on the spot, the Bitcoin SV (BSV) blockchain has proven that it can handle massive amounts of transactions. It had to recently, when the Bitcoin Association conducted a network demonstration for developers interested in working on the BSV chain.

The two day event was held in Hangzhou, China, with over 100 attending. On September 19, 16 speakers spoke to the crowd about their experiences and hopes for the BSV ecosystem.

On September 20, the Bitcoin Association conducted the Developers Dialogue, with 35 developers attending. Members of Mempool, Weiblock, Cityonchain, Bitmesh, and RelayX spoke to the assembled talent about their projects and thoughts about building on Bitcoin. To stress to the developers how capable the BSV network is in handling large loads, BSV supporter Aaron Zhou was invited. You might remember him from a 2 million transaction test from August 2019.

He was asked to show what the blockchain was capable of once again, and he pulled it off. In a massive demonstration, Zhou fired 700,000 transactions in just under an hour into the blockchain in at 9:00am UTC.

The demonstration can be seen on the blockchain starting at block 600824, where SVPool mined a 33MB block of 127,767 transactions. The final, and biggest block, was mined by CoinGeek, at 97MB and 365,832 transactions.

Lise Li, the Bitcoin Association’s China Manager, commented that while the demonstration was running, the developers chatted warmly, and they discussed the results at the end of it. They were pleased to note that the blockchain was able to handle all of it without a hiccup, and took note of how different mining pools take their own strategies in how they set limits on what they’ll mine.

For anyone invited to attend this demonstration, it’s a perfect example of how the BSV chain isn’t just big blocks in theory or testing, but big blocks anytime it’s necessary. This would be an inspiring show for developers looking to get their enterprise on the BSV blockchain: they’re now certain the BSV can handle their data whenever necessary.

Bitcoin SV network demonstration wows developers in China

Even when put on the spot, the Bitcoin SV (BSV) blockchain has proven that it can handle a large amount of transactions. It had to recently, when Aaron Zhou conducted a network demonstration for developers interested in working on the BSV chain.

At a two day BSV event held in Hangzhou, China, with over 100 attending, 16 speakers spoke to the crowd about their experiences and hopes for the BSV ecosystem.

On September 20, 35 developers attended from companies like Mempool, Weiblock, Cityonchain, Bitmesh, and RelayX. They spoke to the assembled talent about their projects and thoughts about building on Bitcoin. To stress to the developers how capable the BSV network is in handling large loads, BSV supporter Aaron Zhou was there to perform a network demonstration. You might remember him from a 2 million transaction test from August 2019.

He was asked to show what the blockchain was capable of once again, and he obliged by firing off 700,000 transactions in just under an hour at 9:00am UTC.

The demonstration can be seen on the blockchain starting at block 600824, where SVPool mined a 33MB block of 127,767 transactions. The final, and biggest block, was mined by CoinGeek, at 97MB and 365,832 transactions.

While the demonstration was running, the developers chatted warmly, discussed the results as the event wound up. They were pleased to note that the blockchain was able to handle all of it without a hiccup, and took note of how different mining pools take their own strategies in how they set limits on what they’ll mine.

But for any developers out there looking to recreate this test themselves, please don’t forget that the Bitcoin Association’s Bitcoin SV Node project encourages you to use the Scaling Test Network (STN). It’s been perfectly set up for enterprises to see exactly how their applications will perform on a blockchain that can scale massively.

For anyone invited to attend this demonstration, it’s a perfect example of how the BSV chain isn’t just big blocks in theory or testing, but big blocks anytime it’s necessary. This would be an inspiring show for developers looking to get their enterprise on the BSV blockchain: they’re now certain the BSV can handle their data whenever necessary.

Bitcoin SV handles 2 million transactions in massive stress test

With the recent historic Quasar protocol upgrade, which saw Bitcoin SV’s (BSV) maximum block size increased to 2GB, Operation Data Blast immediately proved that the upgrade was successful, creating world record block sizes from transactions full of content data. Just recently, Chinese BSV supporter Aaron Zhou wanted to test the blockchain’s ability to handle as many transactions as possible.

As he reveals in his blog post, “Bitcoin SV main network stress test report @ 2019-08-03,” Zhou felt a stress test for a massive amount of transactions was necessary. During the test, which lasted for more than two hours, he broadcast more than 2 million transactions, creating a blocks of 808,000 transactions with a size of 210MB and another of 702,000 transactions, with size 183MB. All told, this resulted in transaction fees of over 2 BSV for each of the mentioned block.

 The BSV blockchain performed admirably, with no blocks orphaned, and no block reorganizations being needed. However, it did show that the stress of that many transactions could cause temporary outages with some blockchain and wallet services.

For example, Zhou noted that Blockchair, Money Button, WhatsOnChain, BitcoinBlocks.live and Bchsvexplorer all had temporary setbacks during the stress test. While this could be due to the same node memory issues that service providers have has experienced in the past, it’s also possible that their website and database services, totally unrelated to the blockchain or their nodes, couldn’t keep up with the speed and load of updates created by the blockchain.

Zhou made sure to commend BSV.BTC.com, Bitfire.io, Mempool, and Unwriter’s applications, which all worked perfectly during the stress test

Zhou’s conclusions were such:

Quasar is an important network upgrade, and BSV is on the road to dealing with massive transactions and continued expansion.

1. Large block propagation and verification, normal
2. Massive transaction dissemination and verification, normal

But you can do better. It is noted that the two chunks are very long-out, because it is a very time-consuming operation to verify massive transactions, which is where future improvements can be made.

The lesson to take away from this stress test is that the blockchain is ready to handle the load, but the businesses who contribute to its infrastructure will need to keep pace.

The BSV Node team has informed CoinGeek that it was able to handle the load of the stress test with only 8GB of memory in its node, but recommends having 16-32GB of RAM to be safe. At the same time, make sure the rest of your infrastructure, like web services and connecting databases, can keep up with the impressive load of transactions coming across the blockchain.

Now that Bitcoin is professionalizing, it’s important that everyone involved professionalize as well. BSV is not a hobby project; it’s the future data ledger and digital currency of the world, and it requires the infrastructure to support it for those ambitions. As great as this test could have gone, the real transactions will be coming soon, and all partners involved will need to be ready for it to prove that BSV is the blockchain for enterprise usage.