Stressed-Out Days For Bitcoin
The company spent 20 BTC to make the stress test happen and fortunately, the platform held its ground.
According to Coindesk, the Bitcoin broker company CoinWallet.eu planned to test the capabilities of Bitcoin via a stress exam starting on 22nd June. They pooled a USD 5,000 worth of Bitcoins to make as many transactions as possible. The main aim was to see if the currently 1 MegaByte block can take the influx.
Thankfully, it took the blows; CoinWallet.eu stated that they did this test in order to prove that Bitcoin needs to expand its block to be “more than a costly science project.” Ouch. The test in itself is not something out of the ordinary; online casinos use similar ones to pinpoint online gaming security issues.
Only 15% of CoinWallet transactions went through
As CoinWallet stated in its post on Reddit: “[…] our BitcoinD servers crashed. The servers were restarted but failed to meet our planned transaction volume. The max pending blacklog was 15MB. Far short of the 200MB goal. By late evening the test was considered complete. Approximately 15% of our planned transaction volume occurred.”
Coindesk reports that the company plans to launch another test in about a week. Many consider this a coup whose only purpose was to bring down Bitcoin. It will be interesting to see what effect these evaluations will have on online gambling payments.