More

    Bitcoin SV (BSV) Ramps Up Its Blockchain Scaling Efforts as BCH-Fork Looks to Prove Itself

    As many of our readers already know, Bitcoin SV, one of the offsprings of BCH has been increasing their efforts to show that they are scalable.

    According to Steve Shadders, the Technical Director of nChain there are 4S that they are concentrating on; scaling, security, secure-instant transactions, and stability.

    Regarding the scaling problem of blockchains, he stressed that increasing the stability of a blockchain will vastly increase its ability to scale because there will be less focus on less irrelevant protocol changes. He adds:

    “The scaling work is probably part of the reason why the Bitcoin SV project came into existence. We were somewhat frustrated with the pace of work that was going on. Of course, in Bitcoin SV our driving principle is to return to the original protocol, which includes removing limits on things like OP_RETURN and allowing economics to govern usage. So, it was our goal from day one of the Bitcoin SV projects to unshackle the data storage use case.”

    As per Dan Connolly, a senior developer at Bitcoin SV, recent tests have indicated that the blockchain protocol can comfortably handle 64MB blocks. Connolly believes that the Bitcoin SV network can handle even larger blocks.

    A 64MB block was first mined in November, and a 103MB block was mined January 3, on the 10th anniversary of the Bitcoin genesis block. Those are the largest blocks ever mined on a public blockchain. But blocks of that size have not yet been mined for sustained periods.

    James Belding of BSV added: “Principally, it can allow our Tokenized system to run with the same flexibility and capabilities as Bitcoin itself! …And this isn’t scratching the surface either. Our team is very encouraged by this development and believes this is a historic moment for Bitcoin.”

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Sritanshu Sinha
    Sritanshu Sinha
    Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,262FansLike
    2,712FollowersFollow
    4,095FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Venezuela Pres. Maduro Still Trying to Promote Petro With International Crypto Casino Launch

    Nicolas Maduro has at long last authorized the opening of an International Casino in a luxurious Hotel, in the city of Caracas. The casino...

    Despite Swiss Regulators Saying Libra ‘Has Failed' They Might Still Be Open To Its Launch

    The Swiss government is spooked by concerns on the sustainability of FaceBook's Libra as a global currency. This adds to regulatory concerns raised by...

    Ripple, Coinbase Invested Bitso Is Hiring A Country Manager For Its Brazil Expansion

    The Mexican crypto exchange is hiring for its expansion into the Brazilian market The new position has to “create, iterate and scale crypto-powered...

    Reserve Bank of India: Crypto's Not Banned, But Ringfenced Regulated Entities Due to Risks

    In response to a petition filed by the IAMAI over RBI’s decision to not allow regulated entities like banks to deal in cryptos,...

    Crypto Bulls Definitely on Parade, Bitcoin Is Attracting ‘Very Substantial Buying Power'

    After 2019’s choppy recovery, the crypto market is now “launching what could be a far more sustainable bull market” Mid-cap cryptos showing more...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.