Rekord has achieved a new record as the primary contributor of over 100 million transactions processed on BSV Blockchain within 24 hours. Rekord’s platform processed on-chain transactions, challenging and surpassing the previous record of 85 million transactions. Rekord broke the 100 million transactions per day mark with 128 million transactions within the 24-hour.
This accomplishment was part of a broader client proof of concept to test entire workflow from collecting manufacturing data via IoT (internet of things) devices and placing the information on-chain.
The initial record was then followed by a second world record by Rekord team, where they carried out the most transactions in a single block. Block #804142 contained 7,126,502 transactions and cost 1.35 BSV £33.52 (€39.02) equating to £0.000005 (€0.0000058) per transaction.
The two records were enabled due to Rekord’s collaboration with TAAL, which processed approximately 80% of the transactions and GorillaPool, which processed around 20%. During the build-up to the test and the test itself, Rekord spent approximately 50 BSV £1,206 (€1403.87) equating to an average cost of £0.000009 (€0.000010) per transaction over the 24-hour period. Rekord is set to become the consistent producer of on-chain transactions on the BSV network due to contracts with data-heavy customers looking to leverage the scalable nature of the BSV blockchain.
James Marchant, founder of Rekord, says, “We are thrilled to have reached this significant milestone in the BSV ecosystem. Our platform’s ability to handle such a high volume of transactions demonstrates the scalability and robustness of the BSV blockchain, and proving it is the only blockchain that can handle the data often required by IoT devices.”
With this record in hand, Rekord’s future looks promising. They are targeting $35 million (€32.66 million) in revenue in their 12 months of operation and potentially adding mining capabilities and building their node software to maintain control over data collection via IoT.
Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow
