New Bitcoin SV record: 638MB+ block mined
New Bitcoin SV record: 638MB+ block mined
Blockchain

New Bitcoin SV record: 638MB+ block mined

By Stefania Stimolo - 16 Mar 2021

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Last Saturday, users of the Bitcoin SV (BSV) blockchain broke a world record, mining the largest block on the Bitcoin network of over 638 MB

The massive block, surrounded by other impossible-to-mine blocks, was over 638 megabytes of large chunks of data including micropayments and larger individual files such as high-resolution photographs.

In essence, the BSV community coordinated with the honest nodes on the network to successfully mine the large block on the Bitcoin network, with SHA256 Proof of Work, from a public mempool

This was no mean feat, considering that as early as May 2020, BSV mining had demonstrated its ability to surpass Visa in global payment volume. 

In that case, however, they mined the record 369 MB block containing over 1.3 million individual transactions on May 16th, 2020 and block #634643 of 309 MB on May 12th, 2020 containing over 1.1 million transactions. 

Bitcoin SV (BSV): beyond the record block and payment transactions 

The BSV network’s latest mining milestone is intended to demonstrate another key differentiating factor of the network. 

Basically, according to Craig Wright’s crypto advocates, the need lies in the creation of an “Alexandria Digital Library”, where both simple things like photos and complex things like operating systems or giant applications are part of the network

Not only that, the idea is that the same can be pushed into transactions so that the network can create interoperability between money and data, in ways that are only possible through the power of the limitless Bitcoin protocol.

“It is our belief that everything of value will become exponentially more valuable when it is allowed to cooperate on a value-transfer network with every other thing of value—creating an incredible opportunity in the future of data and finance!”

Last month, the creator of BSV, Craig Wright (the pseudo-Satoshi Nakamoto) sued the developers of BTC, BCH, BSV and BCH ABC for an alleged cyber attack worth 111,000 bitcoin.

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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