Over the weekend, Money Button users uploaded hundreds of megabytes of data including photos, images and video to the Bitcoin SV blockchain. We have filled several new record-breaking block sizes, including the new largest block ever at 127,981,064 bytes, mined by Coingeek. This is even more impressive than the 113 MB block mined last week.
These records are important because they demonstrate that the original Bitcoin protocol scales by simply raising the maximum block size. The goal of Bitcoin SV is to completely remove all limits from the software and allow the original Bitcoin protocol to govern the block size through a competitive market of miners and other service providers.
Scaling Bitcoin does not require any protocol changes, but does require software changes in the node software over time to parallelize and pipeline the transaction validation and propagation. This important work is being done by the Bitcoin SV node developers.
Because the Bitcoin SV protocol is fixed, applications like Money Button can focus exclusively on our own user growth and scaling our own systems. We have had to make many improvements in the architecture of Money Button itself to handle the explosive growth in data volume over the past few weeks. The node software was already capable of handling the volume.
The records this weekend were set during the first “Blockchain History Day”, an initiative to upload data of historical significance to the blockchain arranged on MetaNet.ICU. Because all data stored on the blockchain is permanent and immutable, we are all writing history with our transactions. This special event was a way for everyone to take part in a conscious effort to record important things to the blockchain.
Some of the data uploaded to the blockchain for this event include Bitcoin and Beyond interviews with Alex Agut, CEO of Handcash, Ryan X. Charles, CEO of Money Button, and Craig Wright, Chief Scientist of nChain. Additionally, a large number of short films and photos were uploaded, some of which are reproduced below.