nChain Launches Bitcoin SV To Bring Back Bitcoin’s Original Protocol
Global player in blockchain-based R&D, nChain, has announced the launch of Bitcoin SV, which aims to bring the creator of Bitcoin, Satoshi’s original vision of the giant, hence the “SV” in its title. As for the specs of the Bitcoin, it has been proclaimed as a full node execution of the original Bitcoin protocol, which is now represented as Bitcoin Cash [BCH].
Welcome to the original stable unbounded bitcoin protocol.
No limits, onchain pic.twitter.com/KN3HymNNyG
— Dr Craig S Wright (@ProfFaustus) August 16, 2018
The reason of existence for Bitcoin SV is supposedly done so by the request of several miners, including the popular, CoinGeek. Clearly, the full node execution will serve justice to miners’ yearn for the original protocol. According to CoinGeek, this endeavor is a must, as it will help “businesses and developers around the world […] reliably build on top of it [Bitcoin protocol].”
CEO of nChain, Jimmy Nguyen seems to be excited to help satisfy miners’ needs, adding that the team is “happy to provide technical capabilities needed to support Bitcoin SV.” As per the affirmations made, after everything has been completely restored, “global businesses and developers can reliably build robust applications, projects and ventures upon it.”
To make the entirety of this endeavor probable, CoinGeek wrote that the BCH hash will be used in the attempt to upkeep the Bitcoin BCH protocol. The Founder of CoinGeek, Calvin Ayre disclosed the details as to how the firm and other miners approached nChain in onboarding this project.
In particular, Ayre said, “Because miners should drive the roadmap in the Bitcoin space, CoinGeek and other miners asked nChain to create a professionally-driven implementation of the bitcoin full node software that restores the original Bitcoin protocol.”
As per CoinGeek’s reporting, the code follows the Bitcoin ABC v0.17.1 protocol, with the following changes made to bring the same features of the Bitcoin protocol. Here are the three that have been emphasized:
- Restoring the following op codes: OP_MUL, OP_LSHIFT, OP_RSHIFT, OP_INVERT
- Removing the limit of 201 op codes per script
- Raising the maximum blocksize to 128 MB
In terms of the team that will be responsible for this task, Daniel Connolly will be the lead developer, with nChain’s Steve Shadders taking on the role of Technical Director and potential group of C++ knowledgeable developers. The duo is said to have an advanced level of experience when it comes to IT services, as well as practical knowledge on blockchain technology.