BSV blockchain - Set New Record 85 million Transactions in 24 Hours

ZUG, Switzerland, May 26, 2023 /PRNewswire/ -- BSV Blockchain ecosystem member VAIONEX, a leading blockchain solutions company, helped set a new record today, as the main contributor to over 85 million transactions that were processed on the BSV blockchain within 24 hours. For this contribution, VAIONEX primarily used their new application TIMESEAL, which is set to launch at the London Blockchain Conference.

In a remarkable display of the platform's capabilities, TIMESEAL has emerged as the top application by transaction volume in the last 24 hours. VAIONEX helped generate over 85 million transactions within this timeframe, showcasing its commitment to pushing the boundaries of BSV's transaction capabilities. 75% of all transactions have been successfully submitted using the Taal API, once again proving its efficiency and ability to handle high transaction volumes.

Cyrille Albrecht, Managing Director at the Bitcoin Association, said, 'We are thrilled to achieve this remarkable transaction volume record, and it serves as a testament to the capabilities of the BSV network. This accomplishment would not have been possible without the visionary stewardship of the Bitcoin Association, which has paved the way for a protocol that is affordable, scalable, and secure. The Bitcoin Association has empowered the BSV ecosystem to push the boundaries of what is possible in blockchain technology.'

Martin Coxall, Marketing Director at the Bitcoin Association, said, 'We are delighted to witness the tremendous transaction volume record, and this is proof of a thriving ecosystem using the values that BA bring to the blockchain community. It is with great pleasure that VAIONEX, a company founded by Robin Gounder, has been at the forefront of this milestone. Since the early days of VAIONEX, BA has been a steadfast supporter. As far back as 2019, Robin Gounder won a BSV hackathon, and we were honoured to award him the Satoshi Nakamoto grant that very same year. This achievement is a collective effort and a reflection of the collaborative spirit that defines our ecosystem.'

Frank Dickob, Provisioning Director at the Bitcoin Association, said, 'The network and the infrastructure run by the transaction processors or miners have clearly demonstrated the great robustness achieved to this day. They have processed over 85 million transactions in 24 hours on their regular productions systems, and without any disruptions.

We believe that there is still room for growth and innovation, as we are working on developing the next generation of key services that will unlock the potential for even greater transaction volumes. Together, we will continue to build upon this success and drive the adoption of BSV as a robust, affordable, scalable, and secure blockchain solution.'

Join us next week at the London Blockchain Conference to discover emerging trends that help bring governments and enterprises onto the blockchain. Attendees will have the opportunity to learn about how blockchain offers scalability on a transaction level and unbounded scaling enables new possibilities in micro-transactions, data transfers, and more. 

About the Bitcoin Association

Bitcoin Association is a non-profit association (Verein) in Switzerland and the global industry organization which advances Bitcoin SV (BSV). It brings together enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others in the Bitcoin SV ecosystem. The Association supports Bitcoin SV as the original Bitcoin, with a stable protocol and massive scaling roadmap to becoming the world's new money and global blockchain for enterprise. The organization seeks to build a regulation-friendly ecosystem that fosters lawful conduct while encouraging digital currency and blockchain innovation.

Lightning Sharks, on behalf of Bitcoin Association for BSV

Photo: https://mma.prnewswire.com/media/2086957/Bitcoin_SV.jpg