The Current State of the Bitcoin Network and Its Biggest Block
Cointelegraph
Published Sep 26, 2018 04:50AM ET
Updated Sep 26, 2018 05:01AM ET
The Current State of the Bitcoin Network and Its Biggest Block
From soft and hard forks to protocol upgrades, to the implementation of Segwit and to the future outlook of the Lightning Network (LN), the Bitcoin network has come a long way since its inception in January 2009. As of Sept. 18, 2018, the average block size on the Bitcoin network is .8MB and the average number of transactions per block is 1609 — so a few eyebrows were raised when a block over 2MB was added to the blockchain on Sept. 5, 2018.
Bitcoin block 540107 came in at 2.26MB; in terms of megabytes, a block this big has never been added to the blockchain before. Although the bear market has been going on for nine months, block 540107 could be a sign that the Bitcoin network is progressing technologically. To understand why, let’s first have a look at the current state of the Bitcoin network.
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Written By: Cointelegraph
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