Business

Steve Kaaru

The Bitcoin Vision: Episode 21

Founding President of the Bitcoin Association Jimmy Nguyen returns with this week’s episode of The Bitcoin Vision, highlighting the major developments in the Bitcoin SV (BSV) ecosystem.

This week’s episode kicks off with the biggest news in the BSV ecosystem in recent times: the Quasar protocol upgrade. The upgrade increased the block size hard cap from 128MB to 2GB, marking a key milestone on the return to Bitcoin’s original Satoshi Vision. With the upgrade, Bitcoin SV will be able to increase the number of transactions it can handle per second from the current 300+ to 1,000+. This will enable enterprises to develop more ambitious business applications with BSV as the data ledger. Miners will also get to earn more in transaction fees to compensate for the block reward which is set to halve in 2020.

RelayX has emerged as one of the top wallets in the Bitcoin SV ecosystem. The wallet recently announced that BSV users can receive discounts when they use RelayX. To benefit from this feature, users simply have to load BSV on to their RelayX wallets, scan a fiat wallet QR code they wish to pay and then confirm when the recipient gets the funds. Doing so will see the users receive 0.5% to 5% discount on their purchases. RelayX currently supports six of the most popular global fiat wallets in Alipay, WeChat Pay, Kakao Pay, Payme, Paytm and PromptPay.

Nguyen also recapped the recent Bitcoin SV Meetup in London, sponsored by the Bitcoin Association. Titled “Quasar: Enabling More Business to Build Online,” the meetup was held just a day after the Quasar protocol upgrade, so it’s only natural that the upgrade was a central theme during the meetup but the event also delved on other topics including building businesses onchain and shifting paradigms in social media with BSV. To top it all off, there was a beer tasting event. Many of the leading names in the BSV ecosystem were present including nChain CTO Steve Shadders, Money Button’s Maria Eugenia Lopez and the UX designer from Twetch, one of the great applications built on BSV.

For this episode’s Satoshi shoutout, Jimmy applauded the efforts of CodeOnChain, a new service meant for developers that’s built on BSV. The service offers similar services to the GitHub code repository but it’s built on the advanced BSV blockchain. Developers can now upload a directory of files to the BSV blockchain using Metanet nodes. Other users can then easily browse through these directories by visiting CodeOnChain. Furthermore, the service allows developers to receive BSV through the Money Button application for their work.

While you’re at it, also check out the previous episodes of The Bitcoin Vision here.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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