Bitcoin SV (BSV) Scaling Test Network Mines 6 Blocks Over 1 Gigabyte; Real or Just Centralization?
Bitcoin SV has been considered to be the fork of Bitcoin Cash they have just gone ahead to set up the Scaling Test Network, STN. One that has been explicitly being designed to test the on-chain scaling for the large blocks in the network. And in the latest update, it has been able to act as the standard network.
The implementation of the STN
The STN has been developed to mine blocks that are more than one GB in size; it is a development that had been done in the BSV camp.
The BSV network has been established with about four systems. It is the likes of testnet, mainnet, the STN and regtest.
The implementation of the STN was to help reduce the current impact of scalability testing on the testnet, at the same time be able to preserve the current outlook of the network. All this being done without having the users on the platform to make any significant hardware available.
The big debate in the community
There is a debate that is going around on whether bigger could be better when it comes to the block size, this is whether in Bitcoin SV, Bitcoin or Bitcoin Cash. It is the reason behind Bitcoin Cash forked from the famous Bitcoin and also why the Bitcoin SV forked from the Bitcoin Cash.
But the question running through most investors being does having a more significant block size help in solving the issue of scaling without having any drastic impacts.
Brad Kristensen, who is the Operations Manager of the STN, stated that they are delighted with the outcomes that have been taking place as they plan on better ways to increase the adoption of Bitcoin SV.
“We’re very pleased with the results, and I think it’s a strong signal of what is to come from Bitcoin SV on mainnet as we continue to increase adoption. The STN is running the same public release available right now (0.2.0). Anyone can join the STN to test their applications /services.”
It was stated that if the block size is slowly increased at a magnitude that is propionate to the current increase of the user base, then we shall see a problem emerging. The challenge will come in where the Bitcoin transactions are from the decentralized and go to a centralized system. Antonopoulos went on to state.
“If my block takes 11 minutes to validate, then i’m off the blockchain, which means fewer people can validate independently, which means the system becomes centralized. With which one of these increases, fewer people can participate in the validation process, fewer people can participate in storing the data, and fewer people can participate in being independent actors. We go from a system that is decentralized to a system that gradually gets more and more centralized.”
With his statement, it paints a much clearer picture of what would happen in the event of a block increase. But on the flip side, Craig Wright gave his opinion on the matter as he is planning to increase the block size.
He states that the method of scaling on-chain is much simpler than many would think. All people would need to do is allow the commercial systems to complete, and from here remove the false that idea hobby nodes or the home use would need to be subsidized as it is something that can be achieved, but time is the best teacher in all this.