Pac-Man like creature eating white circles

BSV Blockchain Overtakes 35 Million Transactions in One Day, Fee Still $0.0001

The return of “BSV PacMan”!

The original Bitcoin transaction volume peaked at more than 35 million transactions in a 24-hour period this week. These record sizes once again prove that BSV is the only scalable blockchain in the world, capable of handling massive amounts of data without a corresponding increase in usage fees.

“BSV PacMan” refers to a pie chart that shows BSV’s share of the total volume of transactions across major blockchain networks, including BTC, Ethereum, and Ripple. With BSV’s share of that pie growing (currently over 88%), the graph is like an ’80s video game icon swallowing all other competitors.

It was only in April 2022 that we celebrated BSV’s new records of 10 and 20 million transactions in 24 hours. And BSV’s infrastructure can handle so much more—potentially running into hundreds of billions of dollars every day throughout the year.

Today’s BSV transaction volume is closer to 19.1 million over 24 hours, but the chart’s similarity (and percentage dominance) is still evident:

Image source: BitInfoCharts

Much of the record-breaking volume of BSV came from Relysia, a coin/token wallet and blockchain infrastructure app that is part of the Vaionex Apps stable.

Are they “real transactions”? yes

But wait – if 31 million of BSV’s 35 million transactions per day come from a single app that “tests” its infrastructure, does it really count?

Of course yes.” Whether part of a test or not, Relysia’s transactions occurred on BSV’s main blockchain, not a testnet. All transactions were processed through BSV’s regular PoW network and formed blocks side by side. With BSV’s normal traffic, which includes social media microtransactions, payments, game data, and other records.If the network can handle the extra rush of traffic (and sustain) it without stopping or gobbling up its users’ money with exorbitant transaction fees, that’s very real.

BSV critics often refer to large surges in transaction volumes (either short-term or over longer periods of time) as being somewhat “unreal”. First, they claimed that BSV traffic was all from a single weather app (WeatherSV) or from a single game (CryptoFights) since these use cases sometimes dominated network sharing. What they ignore is that BSV processed every one of those millions of transactions on the mainnet without a hitch. Making a value judgment on what kind of use case is worthy/legitimate, and what isn’t, is irrelevant – blockchain data is blockchain data.

Processing massive amounts of data at a reasonable cost is what BSV is all about, and these streams of volumes prove that BSV is the only blockchain network suitable for this purpose.

At the time of writing, the average transaction fee on the BSV network is around 0.000003 BSV, or $0.00015 USD. This number is important if you are running an application that puts millions of transactions on the chain every day. And they’re essential no matter what type of data you’re processing, whether it’s game logs, healthcare data, research data, IoT sensor data for supply chains and agriculture, contracts, tokens, or payments.

BSV doesn’t just take existing applications and put them on the blockchain. It is creating an entirely new digital economy. This economy is based on small payments in huge volumes, pay-per-use models rather than advertising and personal data mining, and income is shared among all users, not just the major platforms. This is also known as the “Internet of Value”, where the data itself is the commodity, and users retain ownership and control over everything that belongs to them.

Genuine Bitcoin will continue to push the boundaries with its ability to scale and new use cases, offering new opportunities to make money. Every day an explosion of volume and a new record approaching those goals.

Watch: BSV Global Blockchain Agreement Presentation, BSV Blockchain: A World of Good

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New to Bitcoin? Check out CoinGeek’s Bitcoin for beginners the ultimate resource guide to learn more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and the blockchain.

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