On May 16, 2021, the total size of the Bitcoin SV blockchain exceeded that of BTC.
In fact, 352.9 GB of data were stored on the BSV blockchain, while on BTC’s there were 352.4 GB.
Currently, however, the largest is BTC, with 404.94 GB, against 402.86 GB of BSV.
BSV is a fork of BCH (Bitcoin Cash), which itself is a fork of BTC (Bitcoin), but the total size of the BCH blockchain is still under 200 GB, which is less than half of the other two.
Up until the time of BCH’s fork from BTC in August 2017, the blockchain was the same, and it began to split right during that fork.
In November of the following year, BSV was fork from BCH, so the two chains have all the blocks up to that point in common.
So BSV has the same blocks as BTC until August 2017, and the same as BCH until November 2018. Since then, it has had blocks not shared with other blockchains.
Currently, the average block size of BSV is 6MB, compared to 1MB of BTC, but it has only risen above 1MB since April. Indeed, until January it had almost always remained around 1MB, with some exceptions, but starting in February it started to rise to around 1.5 MB, and then exploded in April.
The Bitcoin SV and Bitcoin blockchain compared
However, the number of recorded daily transactions is roughly the same, around 300,000 per day, with a few exceptions. Therefore, the reason for this growth is not due to a greater number of transactions on the BSV blockchain, but to heavier transactions , i.e. with more recorded data.
And if the comparison is made with the average value of the transactions, then there is a gulf between about $ 200,000 of BTC and $ 200 of BSV.
In other words, while BTC’s blockchain is mostly used to record high value transactions , BSV’s is used to mostly record data.
For example, on March 14, 2021, the BSV network processed a 638MB record block , which consisted of only 2,674 transactions, but which included numerous large media files. In the blocks of BTC, six hundred times smaller in size, there are a similar number of transactions, but without files recorded in them.
Transactions on the BSV blockchain mostly come from companies that record simple payments, tokens, social and digital media content, online gaming activity, and timestamp records.