Bitcoin Cash Stress Test sends Daily Transactions to 2.1 million with minimal impacts on fees
Sep 10, 2018
- According to a study by Chainanalysis, BCH payments fell 64.76% over two months from US$10.5 million in March to US$3.7 million in May.
- On September 1st, Bitcoin Cash (BCH) launched a community driven stress test with a goal of processing over 5 million transactions.
- The goal of the stress test was to push BCH, crypto apps, and crypto wallets to their limits while proving scalability to merchants and businesses worldwide.
- On September 1st, BCH experienced over 2.1 million transactions.
- Transactions per block reached (tps) as high as 14,300 tps, up from its average of between 90 and 150 tps.
- Average transaction fees saw a small decline during the stress test, falling from US$0.002 to US$0.0017, which is a positive sign.
- Although BCH’s transaction fees held, the stress test fell very short of its 5 million transaction goal and raises questions about its utility as a payment method and store of value.