Bitcoin SV blockchain size swells over 7TB, stability at risk

Bitcoin Satoshi Vision (BSV) blockchain size has surpassed 7 terabytes, with about 4GB added daily. The network is at risk of becoming unsustainable.

Blockchain blocks

The network exploded in size in July 2021, with the growth curve rising sharply upwards. Before that, its size stayed below 4TB – still a considerable number compared to the "meager" 430 GB of Bitcoin's blockchain or even Ethereum's 943 GB. BSV has been adding 4GB per day, and with that pace, its stability seems to be at risk.

The issue was brought up yesterday by Jameson Lopp, who posted the growth chart on Twitter. The co-founder of CasaHODL noted that "BSV blockchain is on track to triple in size this year," which compromises its sustainability.

The network also saw a ~$50-increase in transaction fees per GB, which amounts to $200 at 4GB per day, putting the project at existential risk.

Bitcoin SV is a hard fork from Bitcoin Cash (2018), which itself is a fork from the original Bitcoin (2017). The project's declared purpose is to "deliver Satoshi's vision of One Global Blockchain," becoming a more advanced continuation of the original protocol. Bitcoin SV is described by its authors as fast, scalable, disruptive, environmentally-efficient, and regulation-friendly.

As if these fantastic features were not enough, Bitcoin SV's creator Craig Wright made repeated claims that he was Satoshi Nakamoto himself.

Last month Wright had to yield to the rule of law with a "pyrrhic victory" in a libel case. According to London's high court verdict, Wright had given "deliberately false evidence" when he sued blogger Peter McCormack over his 2019 tweets and a YouTube broadcast in which McCormack called Wright a "fraud" rather than Satoshi.

Wright was awarded a nominal £1 in damages, so technically, it's a win for him, but he left the court with a seriously tarnished reputation and apparently not much left to defend his claims.

Despite the ongoing controversies and challenges faced by Bitcoin SV (BSV), there are numerous BSV blockchain development companies that remain optimistic about its potential and continue to support and invest in the network. These companies are responsible for the development and maintenance of various applications and tools designed for the BSV network. By focusing on the core strengths of BSV — its scalability, speed, and adherence to the original Bitcoin protocol — these companies hope to contribute to the network's sustainability and growth, while navigating through its inherent risks and uncertainties. They are crucial for the realization of Bitcoin SV's goal of becoming the "One Global Blockchain," and their role becomes even more vital considering the rapidly expanding size of the BSV blockchain.