mintBlue breaks world record by delivering 50 million transactions on blockchain
ZUG, Switzerland , March 16, 2023 /PRNewswire/ — BSV ecosystem member mintBlue, the Blockchain-as-a-Service (BaaS) platform, has broken the Proof-Of-Work world record with over 50 million transactions (which is just a ” blip ” on the network as BSV is able to perform 1.4 billion transactions in 24 hours).In one day (March 15, 2023), the platform processed 18GB of data, at a minimal cost of $325, and recorded 91% of all transactions across all major blockchains (BitInfoCharts), while also being the greenest provider according to the mintBlue Blockchain Sustainability Index.
With its advanced processing capabilities, TAAL, the scalable blockchain infrastructure and transaction platform, has made this possible by processing these transactions.
This groundbreaking milestone demonstrates the enormous potential of public blockchains in facilitating large-scale deployment of use cases centered around data ownership, transparency, storage and authentication. It challenges the common perception that public blockchains are not viable for such purposes, and opens up new possibilities for the future of blockchain technology.
Niels van den Bergh, CEO of mintBlue, said: “We wanted to debunk the blockchain trilemma narrative once and for all. This blockchain myth is the belief that the technology cannot be secure, decentralized and scalable at the same time. This has led to a common misconception that public blockchains are slow, expensive and not scalable. That’s why we decided to prove the world wrong and showcase the true power of the public blockchain and present our case for its affordable and secure ability to scale.’
Lars Jørgensen, CEO of TAAL, said: “Our infrastructure can easily handle 45 million transactions in a day. Each block is up to 4 GB in size, which equates to up to 20 million transactions every 10 minutes. The record 45 million transactions in 24 hours is about 18 GB of data. The fees for each of these transactions is about one thousandth of a US cent – $315 for 45 million transactions. The massive scalability and extremely low fees demonstrate the wide range of use cases and customization possibilities. TAAL is committed to the BSV ecosystem and ensures the processing capability. For us, 45 million transactions is “business as usual”, this is what we do.
Record numbers of transactions are only possible on Bitcoin SV, as it is the only chain that can scale to a billion transactions per second and beyond using payment channels and overlay networks.
Anyone can prototype a blockchain solution in 20 minutes in a point-and-click user experience using the mintBlue console.
About mint blue
mintBlue was founded in January 2022, and since then its mission has been to empower individuals and organizations to take absolute control over their data. mintBlue is a Blockchain-as-a-Service (BaaS) platform that provides an incredibly easy-to-use SDK for adding blockchain features and benefits to existing infrastructure. MintBlue blockchain development suite removes the complexity of blockchain technology, allowing organizations to focus on their own solution and business logic rather than investing resources in building it from scratch. mintBlue specializes in fully compliant, patent-protected blockchain technologies and works with professional data centers. The technology has been endorsed by several universities as the best option for implementing blockchain. Norway’s central bank has determined that mintBlue’s underlying blockchain protocol is the most suitable alternative for a national digital currency and can handle more transactions than all other operational blockchains combined.
About LANGUAGE
TAAL Distributed Information Technologies Inc. provides value-added blockchain services, offering professional quality, highly scalable blockchain infrastructure and transaction platforms to support businesses that build solutions and applications on the BSV platform, and develop, operate and manage distributed computing systems for enterprise users. BitcoinSV Blockchain is the world’s largest public blockchain in terms of all important utility values, data storage, daily transaction volume, scalability and average block size.
Lightning Sharks on behalf of nChain
Haris Khan, [email protected]+44 (0) 7503 581 563
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