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LONDON, Jan. 28, 2021 /PRNewswire/ Bitcoin SV s (BSV) Scaling Test Network (STN) hit a new record this week, processing over 9,000 transactions per second at one point on January 26. Its previous record was ~6,500 tps in December 2019. Despite being a testing network, the STN shares most of its technical capabilities with the BSV mainnet once again disproving the notion that Bitcoin can t scale on-chain.
To put that into perspective, the BTC network (which many still incorrectly insist on referring to as Bitcoin ) limits its block sizes to 1-4MB, permitting a maximum 7 transactions per second (it s more like 3-4). That s not seven thousand… but seven. No blockchain asset has a hope of gaining use as a world currency, global payment settlement layer or for everyday payments at such a low capacity, and it can cost over $10 or even $20 to send a single BTC transaction of any amount.