CoinWallet: September Bitcoin Stress Test Could Create Backlog
Bitcoin company CoinWallet is set to conduct a stress test on the bitcoin network in September and warned that this could create a 30-day backlog. For now, the company hasn't set a specific date for the stress test but also noted that the results could support calls for a hard fork in the network. CoinWallet's previous stress test achieved only 15% of the output due to a crash in its servers. The company plans to flood the system with countless small transactions, enough to fill two blocks every minute then send out slightly larger transactions. Bitcoin Stress Test. "We feel that our tests....
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The Bitcoin network took a hit yesterday as CoinWallet ran its "stress pre-test" for about thirty minutes resulting in a "2-day delay and a 50 MB backlog" according to CoinWallet CCO James Wilson. Reports are still coming in but it seems like most bitcoin exchanges and wallet companies were able to take the test in its stride. Wilson also told Bitcoin Magazine today that the company will be running a major stress test on the Bitcoin network on Thursday, September 10 starting at 10 a.m. GMT. The purpose of these stress tests is to see if the Bitcoin network can handle a barrage of very....
CoinWallet, a London, U. K. -based bitcoin wallet, says it will conduct a stress test of the bitcoin network in early September that will render most bitcoin wallet software worthless and create a "nearly 30-day backlog," according to theInternational Business Times. They plan to accomplish this by flooding bitcoin wallets with small amounts of bitcoin. CoinWallet's purpose is to convince developers and miners to implement a hard fork. The upcoming stress test is not CoinWallet's first such attempt to make the case for increasing the block size. "As part of this test, I will be....
CoinWallet, the UK based bitcoin buying and selling platform has planned to conduct another stress test on the bitcoin network. The company just cannot seem to have enough of these tests, disrupting the service each time. However, what CoinWallet is out to do maybe blatantly illegal and in such case, the implication of such a test need to be looked into and appropriate actions taken by both CoinWallet and law enforcement agencies to ensure that no laws are broken during the process. CoinWallet has already conducted a not so successful stress test earlier this year. Even though the previous....
The bitcoin network has begun to show signs of stress as CoinWallet conducts its promised "major stress test" with a twist. Instead of generating all the transactions itself, the UK-based exchange released the private keys to hundreds of addresses containing small amounts of bitcoin. Thousands of transactions have flooded the network as users seek to send the bitcoin held by these addresses to their own wallets. CoinWallet has indicated that it intends to give away $48,000 in free bitcoin using this method. At the time of writing, there were over 70,000 unconfirmed transactions waiting to....
Can the bitcoin network still survive under extreme conditions? Brokerage CoinWallet.eu organized a stress test to find out how many transactions the network could handle and if a crash would take place. The stress test was conducted on earlier this week and lasted for 100 blocks. The plan was to see if the network could spend around 20 BTC on transactions amounting to 200MB of data. The bitcoin network had passed without any major incident, but it was only able to handle 15% of the transactions. Bitcoin Network Stress. CoinWallet wanted to find out if the current 1MB block size would be....