The Bitcoin network is constantly improving in several parameters. Currently, the block size reaches its peak, because now the highest number of transactions was recorded.
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Block sizes-growth remains organic
A Bitcoin Block has a variable size, although in General, relatively small blocks of plants continued. There is no goal or limit, the Bitcoin network is not distributed in a deliberately large blocks. The record for BTC was organic, and achieved an average block size of 1,312 MBs.
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This also shows that the block sizes in the Bitcoin network have to be distributed through an almost constant growth, with the larger blocks on all the Nodes.
The larger blocks were produced in a day with significant activity, as most of the blocks were filled. The transaction fees were 0.29 $ slightly higher than in the case of an all-time low of about 0.05 $, but the full blocks to come together with the Overload.
Meanwhile, about 55-60% of all BTC addresses SegWit transactions. SegWits acceptance has grown after a slow Start in the last two years steadily and stabilised at the current level. The combination of transaction number, block weights and SegWit usage: so Far, the Bitcoin network could not scale.
Despite the increased Trading activity occurred in the network no significant bottlenecks. In December 2017, it turned out that the dam and the $ 100 fees were a temporary event caused by a mixture of exchanges-Hype and possible Spam-transactions. Eventually, the Veriblock network to load small transactions and the number of transactions increases.
The overall transaction activity in the Bitcoin network remains in comparison to the year record in mid-2019 is relatively low. However, the network sees a day of enormous value, in the last 24 hours about 485.000 transactions.
Bitcoin Forks with larger Blocks
For two of the Hard Forks of Bitcoin, the block size has been increased intentionally for Bitcoin Cash (BCH) and Bitcoin SV (BSV). The BSV project is particularly daring, as regards the distribution of large blocks – it aims to be a network of well-known, dedicated miners with substantial computing resources to build. However, it is Craig Wright’s Brainchild.
Why would anyone buy #BTC right now? They screwed up the original protocol and limited it to tiny blocks, removed opcodes and zero-confirmation transactions. #BTC is not #Bitcoin. #BSV is the Bitcoin I invested in 7 years ago.— mmurfy (@m_murfy) December 17, 2019