Bitcoin SV to handle 2 million TPS & 1 TB Blocksize have
Home News Bitcoin SV to 2 million TPS process & 1 TB Blocksize have
Marcus Misiak –
Dr. Craig S. Wright, leader of the Bitcoin Cash Hard Forks, Bitcoin, SV, currently the ninth-largest Cryptocurrency by market capitalisation, has big plans for his project. He wants Bitcoin to SV processed in two years, 2-4 million transactions per second, and a gigantic block size of one Terabyte.
The Hash-of-war between Bitcoin experts and Bitcoin ABC is not over yet. Bitcoin SV (BSV) wants to develop the Blockchain to the next, what should crypto be currencies – a Peer-to-Peer Electronic Cash. To this end, preparations are made to enable the network, more transactions than any other crypto currency.
Wright explained in a Medium Post, the BSV will be able to process within a period of two years up to 1 Terabyte (TB) transactions. This volume is essential if a Blockchain can handle the number of transactions that can compete with other forms of payment, including PayPal and credit card processors.
Wright did not elaborate on how the Whole thing should expire. The demand for capacity in a Block in the Bitcoin Blockchain is high, and certainly Bitcoin has had trouble to keep up with demand. Wright and the “Bitcoin Cash-the world” do not believe in a Off-Chain scaling, such as the Lightning Network, but want to make the scaling On Chain, in particular by increasing the Blocksize, i.e. the space of the blocks. The first Amendment to the Bitcoin SV hard fork was a fourfold increase in the Blocksize to 128 MB.
You look at Bitcoin (BTC), Bitcoin, Cash (BCH) and Bitcoin SV (BSV), then BSV currently has but the smallest blocks in the sense of the least number of transactions in a Block, since the recognition and, thus, transaction activity is missing.
Wright also claims that the Miner could in the future achieve, in spite of the Blocksize increase, significant profits (because he assumes that the use of Bitcoin, SV will increase). He said:
Bitcoin as a SV will bring Miner to earn about $ 8,000 per Block, due to the use. That’s the equivalent of 640 dollars per Bitcoin on the exchanges, and we have not taken into account the game of chance the price of Bitcoin, exactly what to earn the mountain people as a service.