BSV blockchain tops 35 million transactions in one day, still charges $0.0001
“BSV PacMan” is back!
The original Bitcoin’s transaction volume peaked at over 35 million transactions in a 24-hour period this week. These record volumes prove once again that BSV is the world’s only scalable blockchain, capable of handling massive amounts of data without a corresponding increase in usage fees.
“BSV PacMan” refers to the pie chart showing BSV’s share of the total transaction volume across major blockchain networks, including BTC, Ethereum and Ripple. As BSV’s share of the pie increases (it’s currently over 88%), the chart resembles the 80s video game icon gobbling up all the other competitors.
You can tell potential customers that this is real. 35 MILLION per day!
Now go out and onboard them to become customers. Your ONLY goal should be to make as much short-term profit without undermining your ability to make long-term profit. #SellLikeHell pic.twitter.com/vIUJVkvwXm
— Kurt | GorillaPool.com 🍌🍌 (@kurtwuckertjr) 6 September 2022
It was not until April 2022 that we celebrated BSV’s new records of 10 and 20 million transactions in 24 hours. And BSV’s infrastructure can handle much more – potentially in the hundreds of billions every day throughout the year.
Today’s BSV transaction volume is close to 19.1 million over 24 hours, but the chart similarity (and percentage dominance) is still obvious:
Much of the record BSV volume came from Relysia, a coin/token wallet and blockchain infrastructure app that is part of the Vaionex application stable.
Day 1 into our infrastructure testing and we pushed 31 million more transactions #blockchain!
Relysia makes 10 times the volume of all blockchain apps combined across all chains. Made possible with #BitcoinSVthe only blockchain capable of scaling to meet global demand. pic.twitter.com/jkxbEgQODq
— Relysia (@Relysia_SV) 6 September 2022
Are they “real transactions”? Yes
But wait – if 31 million of BSV’s 35 million transactions in a day came from one application “testing” the infrastructure, does that really count?
The answer is definitely “yes”. Whether part of a test or not, Relysia’s transactions occurred on BSV’s main blockchain, not a test network (testnet). The transactions were all processed by BSV’s regular Proof-of-Work (PoW) network and formed blocks alongside BSV’s ordinary traffic, which includes social media microtransactions, payments, game data and other records. If the network can handle the extra traffic (and sustain it) without stalling or gobbling up users’ money with exorbitant transaction fees, then it’s very real.
BSV’s critics often point to large bursts in transaction volumes (either in the short term or over longer periods) as somehow “not real.” First, they claimed that BSV’s traffic was all from one weather app (WeatherSV) or from a single game (CryptoFights) since these use cases have dominated the network share at times. What they overlook is that BSV processed every single one of those millions of transactions on the main network without a problem. Making a value judgment on what kind of use case is worthy/legitimate, and what is not, is irrelevant – blockchain data is blockchain data.
Processing massive amounts of data affordably is what BSV is all about, and these bursts in volumes prove that BSV is the only blockchain network fit for purpose.
At the time of writing, the average transaction fee on the BSV network is around 0.000003 BSV, or US$0.00015. This number is important if you are running an application that puts millions of transactions on the chain daily. And it matters no matter what kind of data you process, whether it’s game registrations, healthcare and research data, IoT sensor data for supply chains and agriculture, contracts, tokens or payments.
BSV doesn’t just take existing applications and put them on a blockchain. It creates a completely new digital economy. This economy is based on small, high-volume payments, pay-per-use models instead of advertising and personal data mining, and revenue shared around all users, not just big platforms. This is also known as the “internet of value”, where data itself is the commodity, and users retain ownership and control over everything that is theirs.
The original Bitcoin will continue to push boundaries with its scalability and new uses, introducing new opportunities for making money. Each new volume burst and record-setting day approaches these goals.
See: The presentation of the BSV Global Blockchain Convention, BSV Blockchain: A World of Good
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