The upgrade will allow miners to reach Gigabyte-sized blocks, unlocking some of the most powerful features of Bitcoin
LONDON, June 2, 2023 /PRNewswire/ -- Today, at the third and final day of the London Blockchain Conference, Jake Jones, Head of Network Infrastructure at the Bitcoin Association for BSV, discussed 'Teranode', a scalable Bitcoin node software. With the ultimate goal of creating unbounded scaling, Jones detailed the requirements for achievement, including deploying horizontal scaling and microservices.
Drawing parallels to the popularity of streaming but also consumer frustrations with having to subscribe to multiple platforms, Jones asked the audience, "What if streaming services were using blockchain? Currently, 80% of all internet traffic consists of video streaming. A world in which unbounded scaling-enabled blockchain technology is utilized for streaming would allow consumers to only pay for the specific shows or movies they want, rather than having to subscribe to multiple platforms."
Interoperability was also discussed as one of the many benefits that results from unbounded scaling, which would allow a frictionless exchange between digital versions of currencies like the pound, yen and dollar.
And finally, Jones discussed the challenges of the current internet infrastructure. Specifically casting a light on the practices of large services like Amazon Web Services or Google, which store volumes of personal data, and thus are subject to cyber attacks (e.g. Equifax). With unbounded scaling, the BSV blockchain model would disincentive hackers from even attempting to steal one's information.
This was not the only news from the Bitcoin Association for BSV this week, as Connor Murray, Stewardship Director, and Martin Coxall, Marketing Director announced that the association has been granted stewardship of the Bitcoin protocol. Murray and Coxall noted that as stewards and the network authority, the Bitcoin Association for BSV will set out to build and maintain the core infrastructure as originally envisioned by Satoshi Nakamoto.
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About Bitcoin Association for BSV
Bitcoin Association for BSV is a non-profit association (Verein) in Switzerland and the global industry organisation which advances Bitcoin SV (BSV). It brings together enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others in the Bitcoin SV ecosystem. The Association supports Bitcoin SV as the original Bitcoin, with a stable protocol and massive scaling roadmap to becoming the world's new money and global blockchain for enterprise. The organisation seeks to build a regulation-friendly ecosystem that fosters lawful conduct while encouraging digital currency and blockchain innovation.
About the London Blockchain Conference:
NETWORK. LEARN. ENGAGE.
?At the London Blockchain Conference, we show how the BSV Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, big ecosystem announcements, new product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself.
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