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MintBlue Breaks World Record with Over 50 Million Transactions on Blockchain within 24 Hours

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MintBlue created history on March 15 by carrying out up to 50 million deals in 24 hours. This transaction was executed on the public Blockchain thus; surpassing the everyday transaction averages of Ethereum which is the mainstream blockchain with BTC: 300k per day while Ethereum: 1.2 million per day.

According to the March 16 PRNewswire ZUG, Switzerland, the BaaS (blockchain-as-a-service) platform mintBlue shatters the POW (proof-Of-Work) global record by delivering 50 million transactions. This is a mere “blip” on the exchange since BSV can deliver 1.4 billion deals within 24 hours.

More Details of the Transactions

On March 15, the platform processed data that is up to 18GB at the lowest cost of $325, which registers 91% of every transaction throughout the major blockchains while it is also the greenest provider according to the mintBlue Blockchain Sustainability Index.

The adaptable blockchain infrastructure as well as the transaction platform TAAL, with its high-level processing capacity, made this transaction possible. According to TAAL CEO Lars Jorgensen, “we can effortlessly deliver 45m transactions in one day due to our infrastructure. A particular block of our infrastructure reaches 4GB in size. That is equal to 20 million transactions in every 10 minutes and the record of 45 million transactions within 24 hours is approximately 18GB of data”.

This history-making event displays the great potential of public blockchains in aiding large-scale deployments of use cases geared toward authentication, data ownership, storage, and transparency.

It questions the general belief that public blockchains aren’t feasible for such events. As a result, it has opened up new potential for blockchain technology in the future.

What may have caused the Record-Breaking Transactions

According to mintBlue CEO Niels van den Bergh, the platform intends to explode the “blockchain trilemma record once and for all”. This myth of blockchain is the belief that technology can’t be secure, scalable, and decentralized at the same time.

As a result, people have a wrong view of public blockchains as expensive, slow, and not scalable. That is the reason we decided to prove the world wrong and at the same time display the true strength of public blockchain. Also, to show our case that public blockchain is scalable, secure, and affordable.

After all, according to TAAL’s CEO Jorgensen, the fee for one of these transactions is approximately one-thousandth of the United States cent. That is; $315 for 45 million transactions.

The huge scalability and very low fees showcase the wide range of use cases as well as adaptation possibilities. TAAL is devoted to the BSV ecosystem and ensures processing capacities. Jorgensen concludes that 45 million transactions are common practice for TAAL.

However, you can only carry out this number of transaction records only on Bitcoin SV. Since it is the only chain that can scale up to billion transactions in a second except by making use of overlay networks and payment channels.

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