The Bitcoin Cash (BCH) network was put to the test on September 1, 2018, as BCH supporters stuffed mempool with millions of transactions for a one-day stress test. According to statistics from the past 24 hours, BCH Miners has processed more than 2 million transactions so far, but the stress test day is not over yet.
The Bitcoin Cash network processed millions of transactions on September 1, 2018. Processing over 2 million transactions a day, BCH has already broken the 24-hour transaction processing record of Ripple (1.7 million transactions per day) and Ethereum (1.2 million transactions per day). Currently, statistics from data site fork.lol show that the BCH network processed 2,060,041 transactions in the last 24 hours. The statistics also show that the BCH network processes 85,835 transactions per hour, or 23.8 transactions per second.
Of course, Bitcoin cash supporters are celebrating this momentous moment and participating by using tools like Scale.cash. Many celebratory parties were held around the world, with people drinking their favourite beer while monitoring and participating in the BCH stress test.
The community has been watching websites Txhighway.com, Txstreet.com and Bitcoinsubway.cash to see confirmation of transactions. BCH enthusiasts in the community have been sharing interesting graphs and statistics from Blockchair, Coindance Cash, fork.lol and Johoe’s Bitcoin Cash Mempool Statistics. The number of screenshots increased because the BCH network was breaking records all day.
One of the record-breaking blocks was handled by BCH miners on September 1st. For the first time ever, miners dug up blocks larger than 8MB. On the day of the stress test, there were a large number of blocks between 4MB and 8MB, as well as blocks over 8MB, with the largest reaching 15.2MB. Mining operators such as Viabtc, BTC. Top, Coingeek, BMG Pool, Waterhole, Bitcoin.com all handle blocks much larger than 8MB.
Even if the day was an experiment, the BCH network could handle 23 transactions per second more than BTC could handle 3 transactions per second. And instead of making people uneasy about the mass of microtransactions and calling it a “spam attack,” BCH Stress Day participants send thousands of microtransactions every day without interruption; Miners handling large blocks have also had no trouble clearing mempools (transaction queues).
In addition, transaction fees on the Bitcoin Cash network have remained low, unlike what happened on the BTC network in December. The median BCH network fee was $0.001 per transaction, which was actually lower than usual. Overall the day was a success for most BCH supporters and although it was just a test, it showed that large blocks can handle a large number of transactions very well.
Original text: news.bitcoin.com/stress-… By Jamie Redman, Apatheticco