Last year’s CoinGeek Conference China event was a huge success and saw a substantial amount of support for what is happening in the Bitcoin SV (BSV) development world. Among the projects that were highlighted were ForBSV, Showpay, Weiblock and more, including the FastPay Button (FPB). The brainchild of developer Matthew Qui, FPB is setting out to make it easier than ever to manage cryptocurrency transactions, and CoinGeek’s Stephanie Tower caught up with Qui during the conference to ask him a few questions.
FPB has its beginnings before crypto began to really take off in 2017. The idea behind the application came about as a way to better protect user data and privacy after seeing how companies like Google, Alibaba, WeChat and others were easily monetizing that information. Qui first set out to offer the wallet and payment mechanism on the BTC blockchain, but almost immediately ran into issues.
The biggest problem was that transaction fees on BTC were too high, making it difficult to justify using the network for payments. There were also problems on the technical side of things that further hindered those development efforts. Qui and the other FPB developers then decided to try the Ethereum and EOS blockchains, only to learn that they, too, suffered the same drawbacks as the BTC network.
When BSV came around, it immediately was able to offer a blockchain with transaction fees that were, and are, lower than other networks. It was also more developer-friendly than the alternatives, and these reasons made moving FPB to BSV an easy decision. Given BSV’s unique ability to handle on-chain scaling further cemented the blockchain as the right choice.
In addition to FPB, Qui and the rest of the group have launched other BSV applications, as well. Most notably, For BSV is a platform that allows members to share data and store it permanently on the immutable blockchain. There are different categories for users to select, and the possibilities of how much data can be added are limitless. As explained through a tweet by developers last December, “A user of http://forbsv.com plans to upload 10 million words of Chinese literature classics onto the BitcoinSV to preserve traditional culture.”
Qui isn’t done yet and continues to add more projects to the list. Given the expansive capabilities of BSV, and the upcoming Genesis upgrade, there’s no doubt that BSV is going to be even stronger and will offer more development than what is currently seen.
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