BitInfoCharts reports that on September 1, BitCoin Cash network has undergone BCH stress test that led to over 2.1 million transactions performed on that day.
BCH website defines ‘stress test’ as a test of the BCH mainnet services driven by community. The goal of the test is to complete the procession of fee transactions with the minimum amount of money within the time period of 24 hours. As a result, it serves as an evidence of both capacity and scalability of BTC Cash blockchain. Another goal is supply developers and business representatives that run services and CApps on the BCH network with data.
September 1 was chosen as a date for a stress test because in ten weeks in November the company has scheduled an upgrade that will take place every year since now.
BitInfoCharts reports that the results of the BTC stress test have shown the following: 63% of all cryptocurrency transactions within 24 hours is a Bitcoin share. The silver prize by the quantity of transactions was taken by Ethereum.
Coin Dance has provided data according to which the quantity of microtransactions on the BCH network has grown up up to 14,300 per each block. Fork.lol mentions that their quantity has even flown up to 25,783 per block, much higher than an average interval that ranges between 90 and 150 transactions per every block. Only compare, in average, there are between 1,000 and 1,500 transactions per block for Bitcoin.
BitInfoCharts also indicate that the fee of average transactions has not grown up and even experienced a tiny decline from $0.002 to $0.0017.
Jameson Lopp’s message in Twitter says that this stress test has become successful enough to break different transaction and mempool visualizers.
Cointelegraph information from mid August indicates that the number of BitCoin Cash holders has decreased greatly. Chainanalysis study mentions that BCH payments in March were estimated at $10.5 million, while in May this figure has decreased by to $3.7 million.
A Friday message of Cointelegraph includes a forecast made by Satis Group, and it mentions that BitCoin Cash may reach a figure of $268 because of the attempts to be recognized by the brand name and offering a minimum of technological advantage. At the same time, the report also mentions that the price for BitCoin can fly sky-hire and reach $98,000 in 5 years only.
The latest report by Cointelegraph indicates that a stress test helped BitCoin Cash price to go up because of the highest gains within the last 24 hours. The current trading price of BTC is $635 that is 3.1% higher after a 24-hour period and 21.5% higher after a week, CoinMarketCap reports.