Bitcoin SV v1.0.7 Beta Released

Bryan Daugherty
By Bryan Daugherty Published: January 14, 2021

Today, the Bitcoin SV Infrastructure team released v1.0.7 (beta release) of the Bitcoin SV node software. Codenamed ‘Dynastic’, the planned upgrade is headlined by the introduction of support for long chains of unconfirmed transactions, unlocking new use cases for applications and services that require high transaction throughput.

With the Dynastic update, the benefits of a blockchain that scales unbounded will be evident to all, as block building gets back to basics. The fee selection logic that allowed miners to prioritise transactions with the highest attached fee – a ‘feature’ introduced in response to the limited 1 MB block size on the BTC network – has been removed, no longer necessary on the Bitcoin SV network which scales to meet demand, ensuring safe, instant transactions at predictable low fees.

The change has been facilitated through several updates, which have collectively replaced the Legacy Block Assembler with a new Journaling Block Assembler, allowing the removal of the fee selection code – in the process simplifying transaction selection logic and providing a small performance boost.

More importantly, however, it allowed the Bitcoin SV Infrastructure team to extend the child-pays-for-parent (CPFP) and ancestor limit from 25 to 1,000 transactions. As a result, businesses and enterprises can create far longer sets of chained transactions before they are mined in a block. That new limit is intended to be temporary too, with Technical Director of the Bitcoin SV Infrastructure team, Steve Shadders, confirming that once the 1,000-transaction limit has been sufficiently tested, the team planned to remove the limit entirely.

The present extension (and impending removal) of the CPFP and ancestor limits stands to have a significant impact for enterprises and developers that require truly enterprise-grade blockchain solutions.

Businesses were quick to take note too, with companies as varied as Bitcoin SV wallet provider HandCash and iGaming company BitBoss both signalling that the changes stand to have a marked impact on their product offerings.

‘The ancestor limit was the last technical limitation in our way of creating a truly limitless nanopayments experience,’ says HandCash spokesperson Brandon Cryderman, who confirmed that their company’s developers had to date innovated around the limitation as best as they could.

‘This update is very important for HandCash to reach its full potential.’

That’s a familiar sentiment for BitBoss CEO Matt Dickson, whose development team encountered similar issues when building complex blockchain-based casino games – where each action, say for instance – hitting in a game of blackjack, adds another unchained transaction – with the limitations quickly hit.

‘The removal of that limit is massive for online gaming; it basically completes Bitcoin SV as the ultimate blockchain for gambling,’ he says.

‘We’ve done a lot of work on this limit, but when it goes away, our system is going to be that much more powerful.’

To learn more about CPFP and long chains, read Shadders’ blog post on the topic ‘A belated Christmas present from the Bitcoin SV team’.