The controversial group behind several bitcoin 'stress tests' has confirmed it will push ahead with its biggest experiment to date.
Speaking to CoinDesk, CoinWallet COO James Wilson said the test – which could reportedly cause a 30-day backlog of transactions – would be executed at 10am Thursday (GMT) next week.
Its first test in June, which aimed to fill blocks with 105 BTC broken into thousands of small transactions, reached just 15% of its 200MB goal before its servers crashed.
Although Wilson did not provide any specifics on next week's test, he did take credit for yesterday's network disruption – an apparent trial run which saw unconfirmed transactions on the network pile up to 50MB.
He said the group paid five times the standard fee – 0.0005 BTC per KB – to give its transactions priority on the network and "leave others waiting". Not all miners took the bait however, with some disregarding CoinWallet's transactions despite their higher fees. Wilson, who framed these actions as a form of censorship, said:
The tests come at a highly-charged time in bitcoin's development. Following the release of Bitcoin XT, the currency's major developers and contributors have been unable to reach a consensus on how bitcoin should be scaled – and what it should sacrifice in the process – as it approaches its so-called 'capacity cliff'.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in Bullish Group as part of their compensation.