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>
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     <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>
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  “<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>“
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<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!

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