According to BitInfoCharts, as part of a stress test conducted on September 1, the Bitcoin Cash (BCH) network processed more than 2.1 million transactions and this did not affect the fee.
The BCH Stress Test is a community test of the BCH main network and its services to process "millions of transactions with minimal fees" within 24 hours to prove the capabilities and scalability of Bitcoin Cash, and to provide data for developers and companies that provide their services and decentralized applications running on the BCH network.
The stress test was conducted on September 1, ten weeks before the planned update in November, and will occur annually.
Based on the results. stress test, the share of Bitcoin Cash transactions amounted to 63 percent of all cryptocurrency transactions over the past 24 hours. Ethereum (ETH) took second place in terms of the number of transactions. During the stress test, the number of microtransactions on the BCH network increased to 14,300 per block, according to data from Coin Dance. According to Fork.lol, the number of standard transactions reached 25,783 per block, compared to the usual average of 90 to 150 transactions per block. By comparison, the average number of Bitcoin transactions per block is between 1,000 and 1,500.
According to BitInfoCharts, transaction fees for Bitcoin Cash did not increase, and even decreased slightly from $0.002 to $0.0017.
Bitcoin Cash's price soared after a stress test as the coin made the most profit among the 20 largest coins in recent history 24 hours. According to CoinMarketCap, Bitcoin Cash is currently trading at $635, up about 3.1 percent over a 24-hour period and 21.5 percent over a week.
ICO consultancy Satis Group predicts that the price of Bitcoin Cash will fall to $268, as the coin provides “minimal technological benefits for operators,” while the price of Bitcoin, according to the company, could rise to $98,000 over the next five years
According to cointelegraph.com
You May Also Like
How overvalued is Cardano (ADA)?
The Cardano (ADA) coin has been on the radar of crypto enthusiasts for some time. Since its inception, this unique project has been considered the best alternative in terms of scalability and proof-of-stake model for Ethereum (ETH). However, there are other coins with unique solutions to these problems that are considered undervalued. On the other hand, Cardano (ADA) is often criticized as an overvalued coin.
Top 4 most popular September coins
Despite the decline in the prices of many cryptocurrencies, the developers of some of them continued to develop projects and made statements that encouraged their investors. This article will shed some light on the most talked about coins of September and why investors and crypto enthusiasts are creating such a buzz around them.
