New stress test – What is cryptocurrency? | 6:07:18

Stress tests will probably not be left to the banks. Now a group is forming within the crypto community that wants to test Bitcoin's "little" brother, Bitcoin Cash.

One of the most important arguments in favor of cyber-demons like Bitcoin, Ethereum and Co. is the Speed ​​of Transactions According to the crypto motto, these can be done in seconds and without any third party. Unlike the traditional transfer, depending on the bank, it takes place the next day or may take some time. But the more transactions are done with a digital currency, the higher the load becomes, which slows down the process. To discover what Bitcoin Cash (BCH) can support, the BCH community has now joined forces.

Block Size Effort Test

Immediately after the split, the Bitcoin Cash still had a block size of eight megabytes, in an order of magnitude such that up to 50 transactions per second are possible. But over time, the size of the BCH blocks quadrupled to 32 megabytes, raising the question in the community about the number of transactions the token can handle in the meantime. The 32 megabyte blocks are a unique feature for the BCH because in other cryptocurrencies, the blocks are much smaller. To perform the test, more than five million minimum fee transactions should be completed within 24 hours. This stress test for Bitcoin Cash is scheduled for September 1st this year.

Own website and additional application

In order not to have to do all the transactions manually, SpendBCH.io has developed an application. With this, it should be possible to send transfers in Bitcoin Cash even more quickly. In addition, the community has created an information site specifically for this day. Under stresstestbitcoin.cash anyone can inform and even participate with interest. Interested parties should be aware, however, that this stress test will not be free of charge. Transactions created create costs. The community also explicitly mentions it on its website.

The context of the action is not only to explore the pain threshold of Bitcoin Cash, but also to convince investors and businesses of cryptocurrency by demonstrating how much digital tokens can withstand . The more people show enthusiasm for Bitcoin Cash, the higher the price. And a higher Bitcoin cash rate, especially the community behind the room should benefit.

Editors finanzen.ch