BSV Update 20th November 2019

BSV Update 20th November 2019

Bitcoin Independence Day

15 November 2019 marks one year since Bitcoin SV (BSV) emerged to restore Satoshi’s original Bitcoin protocol, keep it stable, and enable the blockchain to massively scale. This is necessary to achieve the peer-to-peer electronic cash system and blockchain power set out in the original Bitcoin whitepaper released by Satoshi Nakamoto in 2008 and in Satoshi’s early writings.

In just one year, application development rapidly ignited on BSV after one of the most significant restorations of the Bitcoin protocol took place, the lifting of the OP_RETURN data limit. Data from AGORA.icu and the BSV/DEVS site show that currently there are now over 300 known development projects, applications or tools for the BSV network.

BSV has been scaling and currently handles up to 20,000,000 transactions per day and is growing to be able to handle thousands of transactions per second. This makes BSV a competitor to VISA payment network capacity, and supports enterprise usage for tokens, smart contracts, big data and other applications.

You can watch a video about all of BSV’s Year 1 achievements on the new BitcoinSV.com website.

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(Picture Courtesy of @PeergameCom)

Bitcoin SV Scaling Test Network

STN operations manager Brad Kristensen recently announced a series of record-breaking blocks on the Scaling Test Network.  As Brad tweeted, a block was propagated containing 2.7 million transactions.  Only hours later, this record was smashed again with a 3.98 million transaction block becoming part of the STN blockchain.

As part of the shift away from measuring scaling by block size and toward measuring by the more accurate “tps” (transactions per second) capacity of the network, Brad explained in a tweet:

“The BitcoinSV Scaling Test Network (STN) just broke its last transaction count record by almost 1 million transactions.

You don’t need a 2GB block to reach high tps. It’s the calculated value over the previous 8 hours’ worth of blocks. We have seen sequential blocks with over 1 and 2 million transactions, (only needing 3-500MB). The single block TPS figure is an example of a 3.98m ~800mb block”

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Abra mobile wallet and exchange

Cryptocurrency investment app Abra announced it is adding support for Bitcoin SV. The Silicon Valley based business announced the move as part of its plan to provide access to 60 new cryptocurrencies for app users in the United States, and plans for a full 200 cryptocurrencies to be added for international users later in the year.

This means that United States customers will be able to buy, sell, send and trade BSV (including against fiat currency) through their Abra account. There are no trading pair limitations, and the launch also sees an increase of the deposit and withdrawal limits, up to $4,000 per day to a maximum of $16,000 per month through the platform.

The upgrade also introduces other features, including international bank transfers and updated price charts for users of the app.

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Kronoverse

Kronoverse, the platform that allows​ developers to easily monetize their games by integrating common eSports features, has announced the addition of entrepreneur and interactive entertainment leader Ron Chaimowitz as a board advisor,  effective November 1, 2019.

According to the press release, “Mr. Chaimowitz will bring his entrepreneurial skills and knowledge and experience to Kronoverse as it grows to create state of the art technology that ushers in a new world of competitive gaming.”

Adam Kling, CEO at Kronoverse,stated: “Ron Chaimowitz knows what it takes to build a strong brand and bring changes to the gaming industry which is what we’re doing with Kronoverse’s gaming application of blockchain technology,”

Mr. Chaimowitz is well known for building highly successful brands and companies within the game industry. His list of accomplishments includes being the Co-founder, Chairman, and CEO of GT Interactive Software which published top-selling video games such as Doom, Quake, Duke Nukem, Unreal, and Deer Hunter.

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Bitkey

Mysterious developer _unwriter has made another significant release:  Bitkey, a global bitcoin user database stored on chain.  Bitkey lets users register Paymail public keys on the blockchain which can then be used by other bitcoin apps simply by running their own Bitkey Planaria.

As explained on its website, the benefits of Bitkey are as follows:

Open: Anyone can make use of this global user database because it’s on the blockchain.
Reverse lookup: Given a pubkey, you can find its Paymail address
Bulk query: Instead of having to query one Paymail or one public key at a time, you can query multiple at once, even for Paymails that span multiple service providers.
Cross platform: Because it’s a globally shared database made up of any Paymail provider, stored on the blockchain, nobody can restrict access to this global user database.
History: You can record the entire history of a Paymail address and its associated public keys.
Efficient: You don’t have to include both Paymail and pubkey in every signed data transaction because the “bitkey user table” takes care of the Paymail-pubkey association.

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Mediopay

Mediopay is created by Christoph Bergmann (twitter user @BTC_de_Blog).  It is a WordPress paywall plugin that allows website owners to accept BSV payments quickly and easily. What is notable is that Mediopay not only brings the benefits of the BSV blockchain to WordPress, but allows owners of a WordPress website to add a paywall and a tip button using Money Button.

As described, MedioPay features include:

• zero fees
• one-click payments
• paywall management with second editor field or short code
• payments directly to your wallet
• no third-party registration needed
• incentivise your audience – first buyers get a share on later payments, ref links possible
• analytics – payments contain metainformation, allowing to track and analyse the performance of your content
• global analytics of most valuable posts: tipping and paying is sharing
• uses blockchain technology – Bitcoin SV (BSV) and MoneyButton

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Satoshi Shout-Out

The Satoshi Shout-Out in this update goes to twitter user @libitx for his new application Operate – a toolset to help developers build applications, games and services on top of Bitcoin. @libitx is best known as the creator of Bitpaste  the application that allows users to store and share text and files on BSV, at the swipe of a button. Operate is touted as his most ambitious project.

As stated on its website, “Operate is a toolset and protocol that lets you publish functions on-chain, called “Ops”, and then call those functions in OP_RETURN output scripts. This enables transactions to become small but powerful programs capable of delivering new classes of services layered over Bitcoin.”

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https://www.operatebsv.org/blog/introducing-operate/