One of the main use cases for blockchain technology is playing for real money. The ability to instantly process micropayments and store data in an immutable public ledger is a natural calling card for the gaming industry. So far, only one blockchain has shown the ability to scale and process transactions at fractions of a cent: Bitcoin Enterprise Blockchain (BSV).
In July, BSV demonstrated its ability to handle large-scale gaming transactions when a single-player fantasy RPG game went viral in which players compete for real money and valuable NFTs.
Crypto is fighting against success at BSV
In mid-July, Crypto Fights climbed from under 100,000 daily on-chain transactions to over 545,000 within a few days. The unexpected surge in transactions temporarily overwhelmed the Crypto Fights servers, but the Bitcoin Enterprise Blockchain easily handled the increased number of transactions.
During the spike in crypto fights at BSV, fees stayed averaged at $ 0.00332 and there were no bottlenecks.
Despite the negligible transaction fees, Crypto Fights generated over $ 2,400 in mining fees daily at its peak. These fees give miners an incentive to continue processing transactions even after the block subsidy has expired, making BitcoinSV a sustainable electronic cash system long after the supply of new coins in each block has declined.
Bitcoin Enterprise Blockchain and iGaming
Crypto Fights is the first game to go viral on BSV, but it’s not the only one that exists. A popular casino app called Peer Game demonstrates the BSV’s ability to run iGaming applications on a large scale.
This casino app, which offers baccarat, roulette, dice games, tossing coins and some alternative casino games, processes tens of thousands of bets every day. It also pays them in the chain without ever having to keep player funds in custody. Each bet also leaves an immutable record that allows players, operators and auditors to review every transaction and collect valuable data for analysis.
Is there a scaling limit for BSV? Steve Shadders, CTO of nChain, recently demonstrated that 50,000 transactions per second are possible, with much larger transaction volumes planned for the future. Supporters of BSV like Calvin Ayre and Dr. Craight Wright don’t believe that there is an inherent scaling cap that allows BSV to process unlimited transactions for iGaming and other global industries.
The success of Crypto Fights is a first glimpse into the true scaling potential of BitcoinSV. As solutions like Teranode evolve and the list of BSV apps continues to grow, observers will see the amazing potential of Bitcoin with no limits.