Core

Bitcoin SV

2024

Bitcoin

Block

<p>Bitcoin is making headlines again. The past week has been full of twists regarding its price, and the blockchain itself has also seen remarkable developments. A new record has been set in terms of block size: 3.97 MB, amid a rush for registrations on Bitcoin Ordinals.</p> 
<h2 id="h-a-technological-feat-bitcoin-block-size-hits-a-record-level-of-3-97-mb">A technological feat: Bitcoin block size hits a record level of 3.97 MB</h2> 
<p>The <strong>excitement for registrations on Bitcoin Ordinals</strong>, launched by Casey Rodarmor, <a href="https://www.cointribune.com/en/bitcoin-les-frais-de-transactions-explosent-avec-les-ordinals-2/" target="_blank" rel="noreferrer noopener">has shaken the ecosystem</a>. Not only have these NFTs accompanying bitcoin transactions divided bitcoin developers and enthusiasts, but they have also had an <strong>impact on the blockchain</strong> itself. Many users are eagerly awaiting Luke Dashjr’s promise to accelerate the release of <strong>Bitcoin Core version 27</strong>, which is expected to mark the end of the Bitcoin Ordinals venture.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">Bitcoin Consolidates and Reaches ATH Block Size of 3.97MB <br>The size of a Bitcoin block has increased significantly, hitting a record All-Time High (ATH) of 3.97MB. The largest single transaction ever recorded in the Bitcoin network was included at the same time as this block size… <a href="https://t.co/RAPjgqKfnt">pic.twitter.com/RAPjgqKfnt</a></p>— Frank's Place (@Franks_Place_) <a href="https://twitter.com/Franks_Place_/status/1764408765539881120?ref_src=twsrc%5Etfw">March 3, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div> 
 </div>
 <figcaption class="wp-element-caption">
  “<em>Bitcoin consolidates and reaches a record block size of 3.97 MB. The size of a bitcoin block has significantly increased, setting an all-time high of 3.97 MB. The largest transaction ever recorded on the Bitcoin network was included at the same time as this significant milestone in block size.</em>“
 </figcaption>
</figure> 
<p>However, this news reported by <a href="https://en.coin-turk.com/bitcoin-achieves-milestone-with-record-block-size/" target="_blank" rel="noreferrer noopener">CoinTurk</a> may cause unrest in the community.</p> 
<p>In fact, <strong>the Bitcoin blockchain</strong> has crossed a major milestone with a new record block size, reaching 3.97 MB. This remarkable achievement was made possible through <strong>Marathon’s Slipstream service</strong>, surpassing the previous record.</p> 
<p>The significant increase in block size was fueled by <strong>a single transaction integrating a substantial image inscription related to the Runestone AirDrop</strong>. This marks a notable change in the Bitcoin blockchain landscape, which traditionally has a block size limit. While block sizes are <strong>typically around 1 MB</strong>, they can reach up to 100 MB in the Bitcoin SV (BSV) system.</p> 
<p>This technological progression has sparked lively debate. Proponents see this increase as <strong>an opportunity to reduce transaction fees</strong>, speed up transactions, and enhance transaction capacity to compete with other payment systems. However, some experts are concerned about the <strong>implications for decentralization and network security</strong>, fearing possible centralization and a compromise in security.</p>

Bitcoin Sets New Record: Block Size Reaches 3.97 MB!

Table of Contents

Cointribune EN

Other articles published on Mar 4, 2024

ETF savings plans, explained

'What's Happening With Bitcoin Miners?' Peter Schiff Asks As Crypto Mining Stocks Take A Hit Desp...

Peter Schiff Has Major Warning for Bitcoin ETF Buyers

Bitcoin Climbs to Record-Breaking Values

Breaking Boundaries: How AI Is Revolutionizing the Beauty Industry

Decade of Bitcoin Boom: AI and ETFs Key Drivers, Insists Michael Saylor

Join our free newsletter for daily crypto updates!