The block size in the bitcoin network has been increased!

The bitcoin network is regularly scaled up, which leads to an increase in its capacity. In January 2018, individual blocks in the network of the major digital currency were more than 2 MB in size. During the year, the situation has definitely improved due to the growth of the Bitcoin blockchain. If we look at the statistics of the BL Blockchain service, we can see that as of 12.02.19, the average size of one block in the Bitcoin network is approximately 1.305 MB. Moreover, the performance increases in the conditions of very low transaction fees. In fact, the blocks mined in the BTC network at intervals of approximately every 10 minutes have an average size of more than 1 MB. As a result of the integration of the Seg Wit protocol in the summer of 2017, the blockchain’s throughput capacity has significantly increased. Up to 40% of all transfers in the Bitcoin network are made using this solution. The use of this protocol makes it possible to significantly increase the capacity of each block to 4 MB. James Lopp, an industry expert, provided data that the number of transactions on the BTC blockchain is regularly growing due to the improvement of the system’s performance. In December, Veribl miners alone made 783 thousand transfers, and in January, this value can grow to 1.5 million, according to James. It should be noted that on average, miners perform about 300 thousand different operations on the bitcoin blockchain every day, and this number is constantly growing due to the improvement of the platform’s throughput.