Bitcoin SV (BSV) Weekly – March 6th, 2019

Every week is another big week for Bitcoin SV, as more developers rapidly create new applications and the ecosystem keeps on growing.

This week, we look at new innovations on the BSV blockchain, new payment methods for e-commerce stores, new upgrades, and new meetups.

Jimmy Nguyen
Founding President, Bitcoin Association
and your BSV Global Advocate

Security audit of the Bitcoin SV node software

In late 2018, the Bitcoin SV implementation engaged leading security firm Trail of Bits to conduct a security audit of the Bitcoin SV Node software. The audit various issues, with 3 given a high-risk rating due to having a medium severity denial of service impact but a low difficulty to exploit.

The Bitcoin SV team did not itself cause the vulnerabilities but likely inherited them from the Bitcoin Core and Bitcoin ABC software implementations. In January, the Bitcoin SV team responsibly disclosed these vulnerabilities to the competing Bitcoin Core, Bitcoin Unlimited, Bitcoin ABC and Bitcoin XT teams. The Bitcoin SV Node team patched the vulnerabilities in its Feb 11 release. According to industry best practices, public discussion of the nature of the vulnerabilities was embargoed until March 1 to give the other Bitcoin node teams time to update their software.

We believe this is the first time in the history of Bitcoin that any Bitcoin node software has been the subject of a comprehensive security audit. The effort demonstrates Bitcoin SV is serious about its mission to help Bitcoin grow up and professionalize and become the choice for enterprise adoption.
Read more about the security audit here

BSV Application developments

Chart of OP-RETURN data by @cryptoguzzle

This week’s Satoshi Shout Out goes to Twitter user @cryptoguzzle  who showed us that real world usage on the BSV chain is accelerating.  He did so by creating a chart that illustrates growth of the BSV network since it raised the OP_RETURN data size limit.  He stated “Expect miners to start getting nice tx fees. Not worried about halvenings”.

Bitstagram

The larger OP_RETURN data size limit continues to ignite creative explosions on BSV.  Mysterious Bitcoin developer _unwriter recently introduced Bitstagram. The world’s first Bitcoin Native photo app lets you take a photo on your mobile phone and upload it to the BSV blockchain for a small fee payable in BSV, using Money Button.  The application has also now enabled tipping of photos you like.  Look at what people have been uploading by visiting https://bitstagram.bitdb.network/.

Memo SV

The BSV-dedicated version of Memo has relaunched as Memo SV! The blockchain powered social network and identity system, in a version built for Bitcoin SV, has found a new home at memo.sv. It still has all the same great features it’s always had, but now at a new address more suited for the BSV version.  Memo’s Android app has now also added full BSV support.

Business developments

GoUrl – Bitcoin Payment Gateway

GoUrl is a Bitcoin payment gateway and payment processor, which this week announced it now accepts Bitcoin SV.  With GoURL, you can now monetize websites or sell content you’ve created using Bitcoin SV.

Its open source gateway is easy to use and reliable.  Website owners and vendors can receive Bitcoin directly in their wallets, with no bank account needed. GoURL currently has over 18,000 registered companies and vendors from all over the world, with more signing up every day.

Check it out at gourl.io

ElectrumSV wallet

The ElectrumSV wallet team offered a sneak preview of its upcoming release version 1.2.0.  According to the release notes, updates include rewrite of the networking code to use asynchronous logic; this allows the code to be written in a clearer and more straightforward fashion.  It also includes rewrite of the SPV (Simplified Payment Verification) functionality to work with the asynchronous networking.

There is more work to be done but this sneak peak demonstrates the considerable work being put into one of Bitcoin SV’s flagship wallet projects.

Global Meetups

 The BSV community continues to grow globally at a rapid pace, More BSV meetup locations came on-board to the Bitcoin Meetup Network this week. Meetups in another seven cities have emerged around the world:

  • Guadalajara, Mexico
  • Toronto, Canada
  • Austin, Texas
  • New York, New York
  • Nairobi, Kenya
  • Khartoum, Sudan
  • Valencia, Spain

Go to https://www.bitcoinmeetup.net/ to see if there is a meetup near you.