Bitcoin SV (BSV) Weekly – June 12th, 2019

Bitcoin SV (BSV) Weekly – March 27th, 2019

We’ve seen another week of WINs and growth for Bitcoin SV, and amazing energy from the CoinGeek Toronto conference (May 29-30). We continue to see evidence that Satoshi’s original Bitcoin can scale and provide a stable protocol to build on, with more developers and companies saying #WeChooseSV and building more projects on BSV. Read on for the latest BSV news.

Jimmy Nguyen

Founding President, Bitcoin Association

and your BSV Global Advocate


Paymail update

At the CoinGeek Toronto conference, MoneyButton announced Paymail, a new identity protocol that makes sending Bitcoin SV as easy as sending an email.

• Paymail is a new identity protocol for Bitcoin that removes the lengthy Bitcoin addresses from the user experience
• Paymail uses actual names that look exactly the same as email addresses
• Paymail addresses are much easier to remember, write, type or tap into a phone than Bitcoin addresses
• Paymail can be used by any exchange, service or application that sends or receives BSV

The Paymail education campaign continues with the release of the specification along with explanatory blog posts from both  Moneybutton and nChain CTO Steve Shadders.

Paymail is fully functional on moneybutton.com with additional implementations in the works for many other wallets. Further iterations and updates to the specification are expected based on community feedback now that the design is available in the public domain. Users should expect Paymail to be extended to add many new types of functionality that leverages the base identity mechanism that Paymail provides.

Paymail is offered under Bitcoin Association’s Open BSV License and is available for free usage only on the BSV blockchain.

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Applications

Audio B

Audio B permits independent artists and podcasters to share their original works, users can then discover and share original audio created by independent music producers, podcasters, DJs and more. They can also reward their favourite artists with micro-payments, powered by Bitcoin SV.

When publishing a file, Audio B creates a single OP_RETURN transaction to the Bitcoin SV blockchain containing a sha256 hash of the file along with some meta data. The audio data itself is not stored on chain.

Publishers and listeners just need a Money Button account to get started. Original music productions, podcasts, lectures, bed-time stories, and more can be published only if users own the rights or have permission from the rights holder of any works are published.

Bitcoin BSV Editor/Debugger

Bitcoin BSV Script Editor and Debugger is early alpha-release software which delivers a GUI tool with the goal of helping with the development of complex scripts such as smart contracts and tokens. The script editor also contains a high-level language which can be compiled down to BSV script.

The BSV editor works by storing transactions, scripts, spends, and high-level scripts on a local file system. The script debugger can be used easily and will work through the script quickly. The software has been made available free for use by individuals for non-commercial purposes.

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Bitbus

Bitbus, created by prolific anonymous developer _unwriter, is a Bitcoin-less Bitcoin Computer Network.  It is offered under Bitcoin Association’s Open BSV License, making it available exclusively for the BSV blockchain.

_unwriter explains: “Instead of having to run a full Bitcoin node (hundreds of GB and soon TB), you can instantly create your own filtered replication using Bitquery in seconds. Only store what you need for your app. Instead of hundreds of GB, you store a few MB.”

This means that businesses and BSV developers will no longer need to run a full Bitcoin node. Instead, they can use Bitbus to access only the information they need from the blockchain, bypassing the possible terabytes of data that would otherwise slow them down. The website features documentation and a tutorial of how to get started with a link to its GitHub. The working demo uses WeatherSV as an example.

Bitbus will significantly improve efficiency for use of the BSV blockchain.

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Satoshi Shout-Out

FRNT Financial Inc

Our Satoshi Shout-Out this week goes to FRNT Financial, who we welcome to the Bitcoin SV ecosystem. FRNT Financial Inc (FRNT), is an institutionally focused fiat-settled cryptocurrency derivatives platform, and its usage of BSV demonstrates that big blocks support big business.

The company has built a platform that, upon launch, will be offering various set of derivatives, including the first fiat settled BSV derivatives for investors wishing to participate in the crypto markets but require settlement in traditional fiat systems.

FRNT’s CEO Stéphane Ouellette spoke on a panel at the recent CoinGeek Toronto conference on the topic of integrating incumbent financial institutions into cryptocurrency. The panel discussion reinforced that massive-scaling, which can only be supported by BSV, was necessary to support existing financial institutional services to be implemented on-chain.

FRNT Financials’ entry into the BSV ecosystem also illustrates the value of a regulation-friendly environment, which BSV provides. We will only see more companies – especially in the financial markets – building their products and applications in blockchain environments that are business and law-friendly.

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