Bitcoin SV Weekly – May 23rd, 2019

Jimmy Nguyen wearing a yellow tie
By Jimmy Nguyen Published: May 23, 2019
Bitcoin SV (BSV) Weekly – March 27th, 2019

This week has seen continued growth and development in the BSV software and application space, and the finalists of the 1st ever BSV Hackathon announced. The release of the version 0.2.0 of the Bitcoin SV Node implementation and yet another of Unwriter’s creations show that BSV delivers software that meets unparalleled quality, and also allowing for unprecedented innovation in blockchain technology.

Jimmy Nguyen

Founding President, Bitcoin Association

and your BSV Global Advocate

BSV Node news

The Bitcoin SV Node team released version 0.2.0 of the Bitcoin SV Node implementation on May 20, 2019.  This update to the software stays true to the Bitcoin SV focus on huge scaling, delivering a new API to support mining massive blocks and included support for the “Quasar” Bitcoin SV protocol upgrade that is scheduled for July 24, 2019. The Quasar protocol upgrade will increase the default maximum acceptable block size from 128MB to 2GB.

As stated in a post on the website:  “The release has been managed using the team’s enterprise-class development, release, and quality assurance processes, providing additional assurance on the quality of the software delivered.”

Bitcoin SV Scaling Test Network (STN)- First gigabyte+ blocks mined

This week on May 21st, the Bitcoin SV Scaling Test Network (STN) saw its maximum mined block size record broken an impressive eight times. The test ended with a 1.424GB block containing 359,793 transactions.

This was made possible by the release of 0.2.0 of the Bitcoin SV Node implementations the day before. As stated by Brad Kristensen, STN Operations Manager “A truly commendable effort was put in by Steve, Daniel and the rest of the SV Node team, their work is world class and the rigorous QA and testing their code is put through shows in the results we achieved today. Part of the 0.2.0 release to make this possible included a hard fork on the STN chain, which went through without a hitch or “lost” transaction.”

Of most significance there was a block where the transaction fees collected exceeded the block reward.  Steve Shadders – Bitcoin SV Technical Director had this to say. “For me the most exciting metric captured in this test is the block transaction fees.  For the first time ever, we have seen a block where the transaction fees collected exceeded the block reward.  This means Bitcoin is finally becoming the Bitcoin that Satoshi envisioned, driven and incentivised by transaction fees.  We are entering a new paradigm not only with the advent of data use cases but also in the fee driven behaviour of miners.”

You can read the full release here

Open BSV Licence

We, the Bitcoin Association, are now providing a new resource for the BSV community to use.  It’s an Open BSV Licence available on our website.  This is a modified version of the MIT open source license, and intended for developers, projects ventures to use if they want to make their software and applications available for free usage by others on the BSV blockchain only.  If you want your innovative work to be used only on the BSV blockchain, feel free to use this Open BSV Licence.

open bsv license


Neon Genesis -Topologically Ordered Bitcoin Database

This week, we saw prolific (and mysteriously unknown) developer _unwriter unveil Neon Genesis– a new database for Bitcoin [SV] powered by Planaria.  Neon Genesis is a fork of Genesis, but with little key difference.

As explained in _unwriter’s Medium post:  “topological transaction ordering (or natural ordering) that powers Bitcoin can have many use cases. Genesis, it’s a structured database constructed from Bitcoin, which not only contains the transaction graph, but also indexes every single push data to make them easily query able for any kind of Bitcoin application”.

_unwriter goes on to explain that Neon Genesis uses the fact that blocks are transactions and are stored in the order in which they were discovered by the node which mined the block. Neon Genesis allows users to get access to relative time within a block. This means that users can use this to create social media feeds, logs, or any application that that must deal with real world time.

Neon Genesis


1st BSV Hackathon Finalists

Last week, we announced top 3 finalists of the 1st ever Bitcoin SV Hackathon. The finalists will be heading to CoinGeek Toronto conference on May 30, where they will present their submissions for final judging by four individual judges plus a vote by the conference audience, expected to be more than 250 global digital currency leaders. The winner will be announced at the conference’s end with 1st place winning 250 BSV, 2nd place 100 BSV, and 3rd place 50 BSV.   The 3 finalist projects are:

Polyglot – Polyglot is designed to be Bitcoin SV’s most intuitive way to interact with a myriad of metanet protocols through python, thus smoothing to entry path for new developers to Bitcoin SV - it’s a match made in heaven. Polyglot was developed by a New Zealand-based developer is Hayden Joshua Donnelly, operating under username “AustEcon.”

TonicPow – A peer to peer advertising platform enabling users to monetize their site and earn Bitcoin SV directly from advertisers who can also promote their product with ease or raise money with crowd funding “Tonics.” TonicPow was developed by a Canada-based team of Attila Aros (captain), Luke Rohenaz, and Austin Rappaport.

UptimeSV – UptimeSV provides distributed performance and uptime monitoring for robust, DDoS-hardened enterprise systems that is, of course, powered by Bitcoin SV and enables anyone to earn BSV by installing an app and getting paid to participate in uptime tests for clients of the platform. UptimeSV was developed by an Australia-based team who go by the name of Demonstrandium and are led by Dean Little (captain) with Brent Bevear, and Jye Turner.

bsv hackathon finalists reveal announcement

CREA – Dragon Hack

Speaking of hackathons, DragonHack is the first Slovenian university hackathon, that is part of Major League Hacking.  Last weekend, they conducted a Hackathon sponsored by Crea, a leading Slovenian technology development company that focuses on advanced and demanding projects in the field of IT and business processes.

120 developers entered, and the winning team won the Best Bitcoin hack award. In just 24 hours, the team managed to develop a solution to capture video from security cameras and post it to the BSV blockchain as valid evidence.

CREA also provide development support for the Bitcoin SV node team and other nChain projects.

crea logo
people in a classroom

Satoshi Shout-Out

This week’s Satoshi shout-out goes to the one and only Dr. Craig Steven Wright for receiving U.S. copyright registrations for his initial work in creating Bitcoin.

The United States Copyright Office issued Dr. Craig Steven Wright copyright registrations for the original Bitcoin whitepaper, which Dr. Wright originally posted online in 2008 under the pseudonym Satoshi Nakamoto.

In addition to the original Bitcoin whitepaper, the U.S. Copyright Office also issued Dr. Wright a copyright registration for most of the original Bitcoin code (version 0.1 of the Bitcoin client software) which he also authored.

The U.S. copyright registrations do carry legal weight and are another step forward in Dr. Wright’s legal process to prove he is Bitcoin’s creator. More than anyone, Craig understands that Bitcoin was created be a massively scale to be able to power the world’s electronic cash for billions of people to use and be the global data ledger for the biggest enterprise applications.

bitcoin a peer to peer electronic cash system
craig wright