Bitcoin transaction count drops by 42% as Veriblock’s testnet ends6

The Bitcoin daily transaction count dropped by 42% in the last 10 days. The timing coincides with the end of Veriblock's testnet on March 4. While still in testnet, Veriblock captured anywhere from 25-45 percent of Bitcoin's transactions, according to Veriblock's self-published statistics.

Bitcoin enables anyone to embed 80 bytes of arbitrary data into its blockchain through OP_RETURN transactions. VeriBlock is a startup that leverages OP_RETURN to secure alternative blockchain networks. According to the whitepaper, VeriBlock’s Proof-of-Proof (PoP) consensus protocol “aims to enable a security inheriting blockchain to inherit the complete proof-of-work security of a security providing blockchain.” Bitcoin is the security providing blockchain that VeriBlock is starting with.

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