RATE Group | Spam Attack? Bitcoin Average Block Size Suddenly Spikes to Over 3MB
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Spam Attack? Bitcoin Average Block Size Suddenly Spikes to Over 3MB

15 Jul Spam Attack? Bitcoin Average Block Size Suddenly Spikes to Over 3MB

Posted at 10:19h in Bitcoin News by

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Blockchain validation platform VeriBlock produced almost 25% of on-chain Bitcoin (BTC) transactions in 24 hours July 14, the company confirmed on social media.

VeriBlock, which uses its own ‘Proof-of-Proof’ protocol to validate blockchains using Bitcoin’s computing power, launched its mainnet implementation in March. 

The service allows miners to compete for block rewards on altcoin blockchains, while tapping into Bitcoin’s superior levels of security due to the computing power sustaining its Proof-of-Work algorithm. 

The roughly one-quarter figure signalled by VeriBlock this weekend equates to around 68,000 transactions. 

Veriblock had previously generated higher proportions of Bitcoin traffic. According to statistics from monitoring resource and wallet provider Blockchain, however, the more recent figures appeared to coincide with a sharp spike in the average block size on the Bitcoin blockchain.

For July 13 and 14, the average block size suddenly jumped from around 1…

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