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| December 18, 2018

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United Tech to Break Itself Into Three Companies

November 28, 2018 |

The industrial conglomerate has decided to separate itself into three independent companies, breaking apart one of America’s last industrial conglomerates.
WSJ.com: US Business

Cops: Teen Took Break From Game to Rape Girl

November 27, 2018 |

A Florida teen took a break from his game of Grand Theft Auto to rape an underage girl, police say. Daniel Enrique Fabian, 18, allegedly told another player on an online multiplayer network that he was leaving the game for a few minutes to “smash” the 15-year-old girl, the Miami…
Newser

US Shuts Border After Hundreds Break Blockade

November 25, 2018 |

Migrants approaching the US border from Mexico were enveloped with tear gas Sunday after a few tried to breach the fence separating the two countries, the AP reports. US agents shot the gas, according to an AP reporter on the scene. Children were screaming and coughing in the mayhem. Honduran…
Newser

Lavish Expense Accounts Can Make or Break a CEO

November 25, 2018 |

One of the biggest perks of being a high-level executive is a flush expense account. But allegations of misusing it can quickly undo a career.
WSJ.com: US Business

Bitcoin Cash Miners Break Records Processing Multiple 32 MB Blocks

November 10, 2018 |

Bitcoin Cash Miners Break Records Processing Multiple 32 MB Blocks

On Saturday, Nov. 10, the operation BMG mining pool mined multiple 32 MB blocks on the Bitcoin Cash (BCH) network. The first block at height 556034 was the biggest block ever mined on the BCH chain and the process confirmed over 166,000 transactions. A couple of hours later, BMG pool mined 4 more 32 MB blocks confirming another 166K of pending transactions each. 

Also read: Growing Number of Crypto Companies Operating From Belarus

BMG Pool Mines the First 32 MB Block Confirming Over 166,000 BCH Transactions

Bitcoin Cash supporters have a milestone to celebrate today, as miners have put the 32 MB block size limit to the test. At approximately 7:45 a.m. EST, BMG mining processed block 556034 which was approximately 31997.624 kB (31.99 MB) in size. The block surpassed the previous largest block ever mined on the BCH chain, which was block 546423 processed by BMG pool and was 23.15 MB in size. That specific block, on Sept. 4, processed only 97,318 transactions and many observers noticed how long it took to propagate. 

Bitcoin Cash Miners Break Records Processing Multiple 32 MB Blocks
BMG pool started mining 32 MB blocks at block height 556034 and followed with three more maximum sized blocks.

After the block was mined, a good portion of BCH proponents took to social media and forums to tell the world about the first mega-block. Most of the BCH community was thrilled to see the 32 MB block size limit put to the test, while discussing the subject and sharing analytical data. For instance, one metric people enjoyed was the fact that block 556034 confirmed more transactions than half a day’s worth of BTC transactions on an average day. Thanks to the large block mined by BMG and the previously processed blocks, the BCH chain has confirmed roughly 1.3 million transactions over the last 24 hours.

The Mysterious Hashrate Spike and Five 32 MB Blocks 

The large blocks come just days before the contentious hard fork planned for Nov. 15, where two BCH development teams have not agreed on consensus changes. The first 32 MB block wasn’t a perfect achievement, however, for some community members who observed the network react. It seems some BCH nodes from 4 different implementations dropped off the network temporarily, with the largest set of dropped nodes stemming from Bitcoin Unlimited (BU) hosts. Although, BU and other BCH clients had issued new releases over the last few days and many of the BU nodes that dropped were mostly running 1.4 and earlier.

Bitcoin Cash Miners Break Records Processing Multiple 32 MB Blocks
A good number of BU nodes running 1.4 and earlier dropped when the 32 MB block was processed. Other BCH full node clients also saw some nodes fall off the network. The nodes improved for the following 32 MB blocks processed on Saturday. 

The analytical website Cashnodes.io, shows a consistent pattern of BU 1.3.0.1 and 1.4 nodes had dropped and many version 1.5 BU Cash users said their nodes ran properly.

“My BU Cash 1.5.0.1 and Electron X node showed increased CPU usage during the many transactions, but ran fine otherwise,” explained a BCH proponent on Reddit who runs a BU Cash node. Another interesting piece of data that stemmed from the mega-block fiesta was the BCH and BTC hashrate shift. According to Fork.lol statistics, the 3-hour stacked averages for the relative BCH hashrate in the percentage of totals had climbed significantly, eating into the SHA256 BTC-based hashrate.

Bitcoin Cash Miners Break Records Processing Multiple 32 MB Blocks
The mysterious BCH hashrate spike on Saturday, Nov. 10, 2018, after the first 32 MB block. After the five blocks were processed the variance is different on the Fork.lol data site, but still shows a significant hashrate spike during this period of time. Other statistical websites show a similar hashrate spike.  
Bitcoin Cash Miners Break Records Processing Multiple 32 MB Blocks
At the time of writing, BMG processed five 32 MB blocks in total.

Following the block mined at 7:45 a.m. EST, another 32 MB block was processed by BMG pool at approximately 9:45 a.m. EST. Block 556045 contained approximately 166,882 transactions, which were confirmed in one fell swoop. The first and then the second large block mined had caused some fervent excitement throughout the BCH community, to say the least. Not long after the second block, a third 32 MB was mined, clearing 166,799 transactions. The mining pool did not stop there and a fourth block was processed at the maximum block size available. This Bitcoin Cash block at height 556048 contained 166,337 transactions in total. Lastly, block 556049 was the fifth 32 MB block mined by BMG pool (166,664 transactions), which was followed by Coingeek miners undertaking a 15 MB block.   

Overall, many observers from the entire cryptocurrency community were fascinated by the large blocks mined by BMG pool and more information will likely stem from analysts researching the five blocks’ data over the course of the weekend. It seems very likely that the BCH community may even see more big blocks mined in the near future.

What do you think about the 32 MB block mined on Saturday by the mining pool BMG? Let us know what you think about this subject in the comments section below.


Images via Shutterstock, Jamie Redman, Coin Dance Cash, and Fork.lol.


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The post Bitcoin Cash Miners Break Records Processing Multiple 32 MB Blocks appeared first on Bitcoin News.

Bitcoin News

Iranian President Promises to ‘Break’ New U.S. Sanctions

November 6, 2018 |

Iranian President Hassan Rouhani vowed that his country would resist tough new U.S. sanctions on Iran’s oil and banks, as Tehran braced for a new era of political and economic isolation.
WSJ.com: What’s News Europe

Cops Get a Break in ‘Kill All Jews’ Graffiti Case

November 3, 2018 |

Police have arrested a 26-year-old Brooklyn man for scrawling anti-Semitic graffiti throughout a Jewish temple, the AP reports. James Polite was charged Friday with criminal mischief as a hate crime, and making graffiti. Police say he entered the historic Union Temple in the Prospect Heights neighborhood on Thursday evening and…
Newser

TMZ

G-Eazy And Halsey Break Up Again

October 24, 2018 |

G-Eazy and Halsey are calling it quits on their relationship … again.  The on-again, off-again couple are breaking up for the second time in just over 3 months. The breakup is social media official … they stopped following eachother on IG.…

TMZ.com

Report: Secret Service Had to Break Up West Wing Fight

October 23, 2018 |

Tempers flare in the current West Wing as in others, but the New York Times reports on a particularly nasty confrontation this year that required the intervention of the Secret Service. By the newspaper’s account of the “near brawl,” chief of staff John Kelly got physical with informal Trump adviser…
Newser

Migrants Break Fence at Guatemala-Mexico Border

October 19, 2018 |

Some 3,000 Central Americans traveling in a mass caravan broke through a Guatemalan border fence and streamed by the thousands toward Mexican territory Friday, the AP reports, defying Mexican authorities’ entreaties for an orderly migration and President Donald Trump’s threats of retaliation . Arriving on the Mexican side of a…
Newser