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Bitcoin SV blockchain surpasses that of BTC
Bitcoin SV blockchain surpasses that of BTC
Blockchain

Bitcoin SV blockchain surpasses that of BTC

By Marco Cavicchioli - 5 Jun 2021

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On May 16, 2021, the total blockchain size of Bitcoin SV surpassed that of BTC. 

In fact, there was 352.9 GB of data stored on BSV’s blockchain, while there was 352.4 GB on BTC’s. 

Instead, BTC’s is currently the largest, with 404.94 GB, compared to BSV’s 402.86 GB. 

BSV is a fork of BCH (Bitcoin Cash), which in turn is a fork of BTC (Bitcoin), but the total size of BCH’s blockchain is still under 200 GB, which is less than half of the other two. 

Up until BCH’s fork from BTC in August 2017, the blockchain was the same, and it began to separate during that fork. 

In November of the following year, BSV forked from BCH, so the two chains share all the blocks up to that point. 

So BSV has the same blocks as BTC until August 2017 and the same as BCH until November 2018. Since then, however, it has blocks that are not shared with other blockchains. 

Currently, BSV’s average block size is 6 MB, compared to BTC’s 1 MB, but it is only since April that it has risen above 1 MB. Indeed, until January, it had remained almost always around 1MB, with a few exceptions, but starting in February, it began to rise around 1.5 MB and then exploded in April. 

Bitcoin SV and Bitcoin blockchain compared

However, the number of daily transactions recorded is more or less the same, around 300,000 per day, with a few exceptions. Therefore, this growth is not due to more transactions on the BSV blockchain but to heavier transactions, i.e., with more data recorded. 

If we compare it with the average transaction value, there is a gulf between approximately $200,000 of BTC and $200 of BSV. 

In other words, while BTC’s blockchain is mainly used to record high-value transactions, BSV’s blockchain is used to record primarily data. 

For example, on March 14, 2021, the BSV network processed a record block of 638 MB, which, however, only consisted of 2,674 transactions but included several large media files. In BTC blocks, six hundred times smaller in size, there are similar transactions, but without files recorded in them. 

Transactions on BSV’s blockchain come mainly from companies recording simple payments, tokens, social media and digital content, online gaming activity, and timestamp records. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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