Coinwallet.EU 'Stress Test' Fails Due to Server Crash
- Coinwallet.EU's planned 'stress test' of the Bitcoin network's capacity failed after its 'BitcoinD servers' crashed at 17:00 GMT yesterday.
Coinwallet.EU's planned 'stress test' of the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term network's capacity limitations failed part-way through, after its 'BitcoinD servers' crashed at 17:00 GMT yesterday.
Summarizing the results in a reddit post, the company said that the servers were restarted but ultimately generated only 15% of the intended transactions. The test only managed to create a 15 MB backlog, well short of the 200 MB goal.
It follows that most network participants felt little or no difference in the pace of transaction confirmations. Some wallet providers reported that transactions with lower fees took noticeably longer. However, the planned paralysis of the network did not materialize.
The test was to officially end after 24 hours, at 13:00 GMT today. Coinwallet.EU plans on conducting another test in 7 days.
Community Perception
The Bitcoin community has recently been embroiled in a heated debate over whether the block size should be increased. From this perspective, many were looking forward to see what comes out of the stress test in a real-world scenario.
For the most part, however, community attitude ranged from lukewarm to highly cynical. Some suggested that such tests are better conducted on Bitcoin's Testnet Testnet A testnet or testing network is a term for the development of a blockchain network. This construct allows for the testing of experimental features and do test versions of apps without using real money.A testnet is best conceptualized as an alternative network to existing ones such as Bitocin, Ethereum, etc. As its name suggests, this is merely relegated to an experimental application, devoid of actual monetization.Testnets are very important in ensuring the eventual smoothness and optimization o A testnet or testing network is a term for the development of a blockchain network. This construct allows for the testing of experimental features and do test versions of apps without using real money.A testnet is best conceptualized as an alternative network to existing ones such as Bitocin, Ethereum, etc. As its name suggests, this is merely relegated to an experimental application, devoid of actual monetization.Testnets are very important in ensuring the eventual smoothness and optimization o Read this Term, so as not to upset the live Bitcoin economy. Some felt that the test was malicious, comparing it to a denial of service (DoS) attack.
Others countered that the testnet does not have all the attributes needed to make the test meaningful. And besides, a bad actor would not go for the testnet.
Others pointed to the fact that Coinwallet.EU, previously unheard of in the industry, is using the test to make its name known. Skeptics alleged that the company seems to have come into existence solely to conduct the test. Its website lists no physical address, and does not disclose the identities of its principals.
Coinwallet.EU's planned 'stress test' of the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term network's capacity limitations failed part-way through, after its 'BitcoinD servers' crashed at 17:00 GMT yesterday.
Summarizing the results in a reddit post, the company said that the servers were restarted but ultimately generated only 15% of the intended transactions. The test only managed to create a 15 MB backlog, well short of the 200 MB goal.
It follows that most network participants felt little or no difference in the pace of transaction confirmations. Some wallet providers reported that transactions with lower fees took noticeably longer. However, the planned paralysis of the network did not materialize.
The test was to officially end after 24 hours, at 13:00 GMT today. Coinwallet.EU plans on conducting another test in 7 days.
Community Perception
The Bitcoin community has recently been embroiled in a heated debate over whether the block size should be increased. From this perspective, many were looking forward to see what comes out of the stress test in a real-world scenario.
For the most part, however, community attitude ranged from lukewarm to highly cynical. Some suggested that such tests are better conducted on Bitcoin's Testnet Testnet A testnet or testing network is a term for the development of a blockchain network. This construct allows for the testing of experimental features and do test versions of apps without using real money.A testnet is best conceptualized as an alternative network to existing ones such as Bitocin, Ethereum, etc. As its name suggests, this is merely relegated to an experimental application, devoid of actual monetization.Testnets are very important in ensuring the eventual smoothness and optimization o A testnet or testing network is a term for the development of a blockchain network. This construct allows for the testing of experimental features and do test versions of apps without using real money.A testnet is best conceptualized as an alternative network to existing ones such as Bitocin, Ethereum, etc. As its name suggests, this is merely relegated to an experimental application, devoid of actual monetization.Testnets are very important in ensuring the eventual smoothness and optimization o Read this Term, so as not to upset the live Bitcoin economy. Some felt that the test was malicious, comparing it to a denial of service (DoS) attack.
Others countered that the testnet does not have all the attributes needed to make the test meaningful. And besides, a bad actor would not go for the testnet.
Others pointed to the fact that Coinwallet.EU, previously unheard of in the industry, is using the test to make its name known. Skeptics alleged that the company seems to have come into existence solely to conduct the test. Its website lists no physical address, and does not disclose the identities of its principals.