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Blockspace competition just eliminated Veriblock Spam!

Blockspace competition just eliminated Veriblock Spam!

Bitcoin Reddit

Reddit / Bitcoin Reddit 61 Views

For the past 18 months, veriblock has been accounting for 20-30% of the blockspace. This was made apparent when they transitioned to their mainnet in March, and Bitcoin transactions dropped by 25% temporarily. Compare their current network to the testnet screenshot in this article

Due to the rise in transaction volume and the rising fee market, Veriblock can no longer afford to spam the block chain! Their Network stats show a paltry 0.3% block chain usage in the past day, and a plummeting hashrate on their own network, since miners can't afford to trade Bitcoin for the worthless Veriblock tokens anymore. This may signal the demise of Veriblock.

The block size limit in action! Preventing bloating, spam, and incentivizing miners.

submitted by /u/Red_Bagpipes
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