BSV Blockchain Shatters Records with Over 85 Million Transactions in 24 Hours

Today marked a groundbreaking achievement for the BSV blockchain ecosystem, thanks to the notable contributions of VAIONEX, a leading blockchain solutions company. Within a span of 24 hours, VAIONEX played a pivotal role in processing over 85 million transactions on the BSV blockchain, setting a new record. Their innovative application, TIMESEAL, took center stage as the primary driver behind this remarkable feat, just days ahead of its official launch at the upcoming London Blockchain Conference.

The tremendous transaction volume witnessed during this period highlights the remarkable capabilities of TIMESEAL and its ability to push the boundaries of BSV’s transaction capacity. VAIONEX’s unwavering commitment to exploring the full potential of BSV’s transaction capabilities is evident through their significant contribution. An impressive 75% of the transactions were seamlessly submitted using the Taal API, further attesting to its efficiency and capacity to handle high transaction volumes.

Capabilities of the BSV Blockchain network

Cyrille Albrecht, the Managing Director at the Bitcoin Association, expressed immense delight at achieving this unprecedented transaction volume. He emphasized that this accomplishment serves as a testament to the capabilities of the BSV network, which owes its success to the visionary leadership of the Bitcoin Association. Through their steadfast support, the Bitcoin Association has laid the foundation for an affordable, scalable, and secure protocol. This achievement showcases the BSV ecosystem’s ability to push the boundaries of what is achievable in the realm of blockchain technology.

Martin Coxall, the Marketing Director at the Bitcoin Association, echoed these sentiments and expressed joy at witnessing such an extraordinary transaction volume. He emphasized the thriving ecosystem built upon the principles and values that the Bitcoin Association brings to the blockchain community. Coxall highlighted the instrumental role played by VAIONEX, a company founded by Robin Gounder, in achieving this significant milestone.

VAIONEX’s early days

He recalled VAIONEX’s early days, where they received unwavering support from the Bitcoin Association. Gounder’s victory in the BSV hackathon in 2019 and the subsequent Satoshi Nakamoto grant awarded by the Bitcoin Association exemplify the collaborative spirit that defines the BSV ecosystem. Coxall concluded that this remarkable achievement is a collective effort and a testament to the collective spirit that drives the ecosystem’s progress.

Frank Dickob, the Provisioning Director at the Bitcoin Association, acknowledged the robustness of the network and infrastructure maintained by transaction processors and miners. He lauded their outstanding performance in processing over 85 million transactions within 24 hours, all on their regular production systems, without any disruptions.

Dickob emphasized the potential for further growth and innovation, revealing that work is underway to develop the next generation of key services that will unlock even greater transaction volumes. Together, they aim to continue building upon this success and drive the widespread adoption of BSV as a robust, affordable, scalable, and secure blockchain solution.

London Blockchain Conference

The upcoming London Blockchain Conference presents an exciting opportunity to delve into emerging trends that bring governments and enterprises onto the blockchain. Attendees can expect to gain insights into how blockchain technology offers scalability at a transaction level, enabling limitless possibilities in micro-transactions, data transfers, and more.

The Bitcoin Association, as a non-profit organization based in Switzerland, is at the forefront of advancing Bitcoin SV (BSV) globally. It serves as a unifying force, bringing together enterprises, start-ups, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and other stakeholders in the BSV ecosystem. The Association champions Bitcoin SV as the original Bitcoin, emphasizing its stable protocol and ambitious roadmap for massive scaling, aiming to establish it as the world’s new form of currency and a global blockchain solution for enterprises. In fostering a regulation-friendly ecosystem, the Bitcoin Association aims to promote lawful conduct while encouraging innovation in digital currencies and blockchain technology.