BSV supporters from all over the world came together to purchase mining rigs and lend their existing hash power to the first community-driven BSV mining pool, created by GorillaPool not too long ago.
GorillaPool was first reported to be mining blocks on the BSV blockchain in September. In just over a month, it announced the largest transaction in Bitcoin history.
GorillaPool just mined the largest individual transaction ever mined with the bitcoin protocol.
42+MB in a single tx at 0.1111 sats/byte. ???//t.co/LYTF9nCruU
— GorillaPool ?? (@MineLikeAnApe) October 19, 2021
The record-breaking transaction was found in block #709721. The transaction was 42MB in size (the transaction, not the block). Each byte cost 0.1111 Sats.
In addition to the fact that this transaction alone is larger than the small blocks produced by competing Bitcoin forks, it illustrates how miners can continue to earn revenue from the blockchain after the block subsidy has diminished.
There is no doubt that the BSV blockchain is proving all of its critics wrong, as distributed mining pools like GorillaPool are perfectly capable of handling substantial transactions. This should silence the incorrect narrative that BSV is a corporate-controlled fork of Bitcoin.
GorillaPool is looking for as much hashpower as it can get to mine big blocks, according to those who insist on ‘decentralization’ and community ownership of the Bitcoin protocol.
BSV Mining Pool Is Growing
During the so-called Bitcoin civil war, some small blockers declared that large blocks and on-chain transactions would cause the bitcoin network to crash, and that only those without technical expertise would support such a plan. In reality, they wanted to hijack and control Bitcoin, making it politically ‘decentralized’ via a network of home-run nodes, which Satoshi Nakamoto claimed was “not intended for large-scale use.
Although BTC continues to push poky 1MB blocks, many of which are just 10% full due to parasitic networks like the Lightning Network, BSV has been attracting developers who are building all sorts of useful applications on the only blockchain that is infinitely scalable.
In recent months, large blocks of BSV have been flooded with micropayments and data storage fees related to some of the following:
- Payouts within CryptoFights, the most popular BSV game to date. Meta ID, a new protocol for integrating user data across BSV applications and wallets.
- A growing number of other gaming and entertainment apps like Haste Arcade, Peergame, ShowBuzz, and others.
Since The Launch of Bitcoin SV, The Utility Of This New Solution Has Been Exploding
Do you know what has the potential to bring Bitcoin to the masses? It’s not just about making transactions. It’s about storing data in a way that is unchangeable, auditable, and secure. BSV is exploding in usage for all these reasons. And it can be used in many more ways than you might think!
Take a look at some of the industries adopting BSV:
*iGaming: With the rise in popularity of blockchain based games, more and more organizations are using BSV to store their information and records.
*Pharmaceutical: The pharmaceutical industry has been exploring how to use blockchain technology to store sensitive data such as prescription contents, dosage levels, and medical history.
*Government: The US Department of Transportation is exploring how to incorporate BSV into their
At CoinGeek New York, we discovered that the uses for BSV go far beyond what can be seen publicly on tracking sites like Bsvdata.com. In the iGaming, pharmaceutical, and other sectors, companies are using BSV to store their information and records, creating an immutable record that can be audited and verified by regulators or others.
The growing uses for Bitcoin Cash will likely lead to larger blocks and transactions on BSV. Blocks more than 1GB and transactions more than 42MB are just the warm-up for what‘s to come as the unbound potential of the original Bitcoin protocol is realized and unleashed over time.
We wish GorillaPool many more such milestones in the future. Congratulations on making history on BSV in such a short time.