The Bitcoin Vision: Episode 8

The Bitcoin Vision: Episode 8

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As always, there’s so much happening in the Bitcoin SV (BSV) ecosystem. This week, Founding President of the Bitcoin Association Jimmy Nguyen returns to give us updates on developments with BSV, the rebirth of the original Bitcoin—finally unlocking the true power of Bitcoin’s original design, protocol and vision.

The BSV chain on its mainnet recently hit a milestone by having five consecutive days of daily average block sizes that were larger than that of the Bitcoin Core (BTC) chain and Bitcoin Cash (BCHABC). Due to the increased file size enabled by Money Button applications and Bico.Media, BSV has seen even bigger blocks coming to the chain. On March 28, there’s a 113MB block, which, at the time, was a world record until a day later when the network saw a 128MB block mined on March 29, and then again on the 30th.

The 128MB blocks resulted in transaction fees of 1.27 to 1.30 BSV, showing that sustained big blocks through data sizes are enabling miners to earn more revenues. Nguyen noted, “This is Satoshi Vision at work, proving that Bitcoin SV is on the right path to massive, on-chain scaling.”

Meanwhile, due to clear demand for BSV, more exchanges are listing the coin. Equicex exchange recently added BSV to its over 300 cryptocurrencies and 30,000 trading pairs. Equicex also offers a physical Visa card and a virtual prepaid card, which can be used with BSV.

Cryptofacil has also listed BSV and has four BSV trading pairs. The exchange targets mostly Latin American and Caribbean customer market to provide a reliable, fast and secure platform to trade cryptocurrencies, now including BSV.

For enterprises looking for detailed financial information on BSV, the Intercontinental Exchange, the company behind NASDAQ, has launched a cryptocurrency data feed with BSV among the over 60 covered digital assets. Their real-time feed will provide access to a wide range of information gathered from over 600 leading venues, marketplaces and exchanges across the globe.

“It’s a great sign that Bitcoin SV is being treated as a serious digital asset and growing up and professionalizing,” Nguyen said.

On the development side, Unwriter delivered yet another big one—Bottle, the world’s first Bitcoin browser. Bottle allows users to easily search for and discover anything and everything saved on the BSV chain. For Chrome users, Twitter user @World_Languages has released a Bottle for Chrome extension that works with the browser.

As Nguyen points out, “Bottle is a significant step towards the concept of the Metanet. Soon, Bitcoin will power and subsume the whole internet, and Bottle is a key step into being able to see and search for things in that new reality.”

Since the data size limit in the OP_RETURN field has been lifted on BSV, users have been coming up with creative ways to upload larger files to the blockchain. That process is getting easier thanks to the text and file sharing app Bitpaste.

Meanwhile, Twitter users @wildsatchmo and @AttilaAros have created a new system called Magic Attribute Protocol (AMP). It’s a simple OP_RETURN protocol for linking data in a single Bitcoin transaction, essentially built to chain together other OP_RETURN microprotocols. AMP links data on the BSV blockchain to provide more information and more possibilities for applications. Learn more about it here.

This week’s Satoshi shoutout goes to online service marketplace FiveBucks, which recently announced that it was integrating Cashport. This allows FiveBucks to easily onboard and improve user experience for paying with BSV.

“FiveBucks has been instrumental in demonstrating real-world usage on BSV as cash. Now it’s shown that you can work with other companies in the BSV ecosystem such as HandCash and use each other’s tools and applications to help achieve the Satoshi Vision more globally,” Nguyen said.

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

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.