Soon the great stress-test of the Bitcoin Cash network
On Saturday, September 1, the Bitcoin Cash community plans to conduct a network load test, flooding it with millions of transactions that day.
The dispute over scalability issues is shared by the cryptocurrency community almost since the technology of the block chain. Despite many proposals for its solutions, among others: Lightining Network, SegWit, SegWit2x or Sharding (in the case of Ethereum), this issue is still unresolved.
The creation of Bitcoin Cash also has its foundations in this dispute. A year ago, the hard-fork division of the Bitcoin network resulted in the creation of a new cryptocurrency, which the developers put on, seems the simplest solution - i.e. the physical increase of the maximum size of a single block from 1MB (as currently in the case of Bitcoin) to 8MB. In May this year, this value was additionally increased to 32MB.
With these block parameters, the network should theoretically be able to process up to 100 transactions per second and about 10 million transactions per day. And although it is still not enough to compete with the dominant payment systems, such as Visa or MasterCard (not to mention other problematic issues, such as the drastically swelling size of the block chain), Bitcoin Cash supporters believe that this is a step in the right direction.
The Saturday stress-test of the network is to be another argument to confirm their thesis.
If we look at the chart of transactions processed in the Bitcoin Cash network, we notice that preparations for "D-Day" have been going on at least since the end of June. We could observe the peak in the form of record-breaking 687 thousand transactions on August 1. For comparison, in the BTC network this record, established on December 14 last year, amounts to just over 490,000 transactions.
On Saturday, the test organizers expect, however, even more than 5 million transactions! The test is to start at noon of universal time, so at 14:00 Polish time.
The processing of more than 5 million transactions will present today's capacity of the Bitcoin BCH network, as well as a positive signal for traders, businesses and investors, giving them confidence in the Bitcoin BCH network and its ability to scale within the block chain "- we read on the official website of the initiative - stressbitcoin.cash.
Anyone who wants to join the test can use specially created applications, such as scale.cash, which automatically generate thousands of transactions and propagate them on the web. Generating 5000 microtransactions is a commission cost of about 0.01 BCH.
Other useful tools, as well as other information about the Saturday test, can be found at stresstestbitcoin.cash.
The txstreet.com website can be a good tool for tracking as during the Saturday load test. Bitcoin Cash may be a website txstreet.com, in an interesting way that visualizes transaction processing, both in the Bitcoin and Bitcoin Cash networks.