Craig Wright talks simplified payment verification

When the Bitcoin concept was first developed, it was designed to be a peer-to-peer payment solution that would avoid constraints and restrictions tied to central bank-controlled fiat and conventional payment channels. It may have morphed since then into something a little different, at least by many cryptocurrency projects, but the core purpose of digital currency hasn’t changed. Dr. Craig Wright often writes on restoring the premise behind Bitcoin to its original form, citing examples from the Bitcoin white paper on how everything had been properly laid out right from the start. As Bitcoin SV (BSV) works to restore Bitcoin to its Genesis form, Wright has published a new article on how payments can be achieved simply, without all of the hassle that has since been integrated into blockchain transactions.

Simplified Payment Verification (SPV) was laid out in detail in the Bitcoin whitepaper. Wright had explained in that Bitcoin manual how payments could be easily verified without a full network node being needed, and says in his new paper, “Section 5 of the white paper defines nodes in Bitcoin; more critically, to be a node, you need to be mining transactions. SPV or simplified payment verification is a critical aspect of scaling Bitcoin. I thought it was rather clear and obvious when I released the white paper, but it seems that people have overlooked or misunderstood all of the different aspects.”

In a true peer-to-peer system, to which BTC and other crypto projects no longer belong, the transaction is a direct exchange between two entities, whether it be two people, a person and a business or a business and another business. A customer selects goods to purchase from a vendor, makes a payment directly to the vendor and the vendor then validates the transaction and sends it to the blockchain for clearing and settlement.

As it stands now, transactions have to be verified before being considered legitimate. That verification process typically requires six miners giving their approval of the transaction. However, this was never meant to be part of the process. Wright explains, “Users in the system are only required to maintain a copy of the block header to which they can compare transactions. At present, the block header is under 50 MB in size. Many image files can exceed such levels. A decade from now, the growth will only be linear.”

As Wright has repeatedly pointed out, Bitcoin was never designed to circumvent financial laws or procedures; it has always been meant to interact with existing structures and coexist with other payment options – at least until crypto is recognized as the next step in the economic evolutionary cycle. Just like there are steps in place with fiat transactions now to determine if there is any illicit activity, the same is possible with Bitcoin, without the need for the convoluted transaction processing that currently takes place.

Wright, as are many true Bitcoin believers, is still optimistic about Bitcoin’s future and sees a day when the realization is finally made regarding crypto’s true purpose. He asserts, “As governments, regulators, and law enforcement start to wake up and see the true design of Bitcoin, they will start to understand that it is a system that is friendly to law. It assists in the tracing of transactions, and provides a high level of privacy for the small cash like transfers whilst also being able to immutably record money laundering and crimes.”

Student hacker may have attempted to breach West Virginia’s blockchain voting pilot

Last year, West Virginia became the first state to test out a new voting mechanism that would allow remote voters to make their selections over the blockchain. The goal was to make it easier for state residents not physically in the state, such as those serving overseas in the military, to participate in elections and have the results calculated more efficiently. Given the advantages blockchain technology can offer many applications, it is a worthwhile pilot with positive implications for a number of industries. And last year’s pilot may have been successful in more ways than one. It appears that someone attempted to hack into the system, but couldn’t.

According to a statement that was just released by West Virginia Secretary of State Mac Warner about threats to the election process, there could have been an attempt to break into the system last year. He explains in the letter, “In last year’s election, we detected activity that may have been an attempt to penetrate West Virginia’s mobile voting process. No penetration occurred and the security protocols to protect our election process worked as designed. The IP addresses from which the attempts were made have been turned over to the FBI for investigation. The investigation will determine if crimes were committed.”

The statement comes in response to a new federal law regarding foreign interference in domestic US elections. President Trump signed an Executive Order, “Imposing Certain Sanctions in the Event of Foreign Interference in a United States Election,” that could result in sanctions being applied to countries if any interference is uncovered from those states.

Warner adds, “Every safeguard designed for the system was very successful and worked as designed: to gain as much information as possible, and protect the sanctity of the voters’ identities and ballots. Although the details of the investigation cannot be disclosed, we can say that no votes were altered, impacted, viewed or in any way tampered with.”

The FBI’s investigation has reportedly led to the University of Michigan. According to CNN, the attempt may have been part of a course on election security, but the investigation is still continuing. The University of Michigan is involved significantly with election security research and is the home of the Michigan Election Security Commission. Warner added in his statement:

This announcement is made for its deterrent effect. This is to caution people to not even attempt to mess with an election. Even if well intentioned, the mere act of attempting to probe a voter registration list, a mobile device, or any aspect of the election process may amount to a criminal offense. We have the 2020 election coming up, and everyone should now know that local, state, and federal officials take election security very seriously.

Brendan Lee: Building the knowledge base for Bitcoin

Brendan Lee is gathering together the collective wisdom around Bitcoin SV (BSV) and making it digestible for developers – both for newbies and for the battle-hardened. “I wanted to take my knowledge of Bitcoin and get it out to as many people as possible,” he says.

BSV is still less than a year old, since its fork from Bitcoin Cash, so it’s surprising how much there is to learn and to impart. But at the CambrianSV Bootcamp in Bali recently, Brendan, the new Training and Development Manager for the Bitcoin Association, demonstrated the fruits of his studies in a series of well-received seminars for the 30 or so developers who were attending.

He’s also taken on a second new job, as Head of Technology for Faiā, a management consultancy that works with companies who may be taking an interest in the potential of Bitcoin for the first time. For complete newcomers, Brendan admits there are often some prejudices to overcome. The “civil war” in Bitcoin is “very hard to explain to people”. But “as soon as you start talking about an honest money system, that’s transparent, where transactions are instant and extremely cheap …people actually hear that and they go ‘wow, I want to learn more’.”

One example of a consultancy project that makes use of Bitcoin is the development of a system to allow the automatic payment of royalties to an artist by an end consumer – making use of Bitcoin’s ability to pay out to multiple parties from a single transaction: “the fan pays the artist directly”.

In his work for the Bitcoin Association, Brendan says that what’s being built today still needs to achieve “feature parity” with existing applications on the Internet. “But once we get to the point that they do achieve feature parity, and start executing features that are in addition to what’s already available, we will see a moment where people start sitting up and listening” because they’ll have learnt that “if you use this application on Bitcoin, you can earn money really quickly”.

Brendan admits that there isn’t yet a defined body of knowledge around Bitcoin SV. In preparing his sessions for the Bali Bootcamp, he’s been “scouring the Internet” and talking to researchers at nChain to make sure that “my ideas and understanding of things is correct”. The result of the work will be a series of educational resources that the Bitcoin Association will release “so that people who are new to Bitcoin can come in and learn about these concepts – a lot of which are extremely important to understand if you are looking to build an application that works on top of Bitcoin”.

But Brendan is making no claims to be the final authority on the matters he’s teaching: “I’m working this out as I go along, and I have learnt so much in the process of putting these lectures together. What I’m really hoping for is that at some point someone comes to me and says ‘hey, I was thinking about what you said but here’s an even better way to do it’. That to me says that I’ve hit the right notes, I’ve got the creative juices flowing.”

Hear more from Brendan Lee in this week’s CoinGeek Conversation podcast:

You can also watch the podcast video on YouTube.

Please subscribe to CoinGeek Conversations – this is the fourth episode of the podcast’s second season. If you’re new to it, there are 30 episodes from season one to catch up on.

Here’s how to find them:

– Search for “CoinGeek Conversations” wherever you get your podcasts
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Handcash finally releases for iOS devices

Bitcoin SV (BSV) users who are also iPhone users had a very nice surpise on October 8. After a long wait, Apple users can finally enjoy the fully upgraded HandCash wallet, as the popular BSV wallet is now available in the iOS app store.

As has been their habit, the HandCash team didn’t make too much of a fuss at the release initially. They actually haven’t made much of an announcement at all, preferring to wait for users to discover the app on their own.

They haven’t been entirely silent though, choosing to retweet the experiences of users who are now playing around with the BSV wallet and reminding everyone how to migrate to the new wallet, providing a link to a helpful walkthrough incase anyone was having difficulty with it:

Up until this big release, the HandCash app was in Beta, requiring some additional steps to get working on iOS devices. Alex Agut, CEO of the company, noted that they’ve been waiting nearly a month for this process to run its course.

Now that it has, those iPhone users, of which there are hundreds of millions, all have access to one of the best BSV wallets available. The easy to use app has been a favorite of many, and local meetups have often taken up the hobby of recruiting new users by showing them the functionality of the app.

iOS users, either if they had an older version of the app or are trying it for the first time, are getting their hands on features that Android users have had access to since September. Although they will have to potentially migrate to new $handles, the app has an upgraded user interface and bug fixes, making it one of the most professional and user centric wallets on the market for any digital currency.

If you haven’t tried it yet, it’s definitely worth checking out. Early user reviews are that the iOS version of HandCash was definitely worth the wait.

Handcash finally releases for iOS devices

Bitcoin SV (BSV) users who are also iPhone users had a very nice surpise on October 8. After a long wait, Apple users can finally enjoy the fully upgraded HandCash wallet, as the popular BSV wallet is now available in the iOS app store.

As has been their habit, the HandCash team didn’t make too much of a fuss at the release initially. They actually haven’t made much of an announcement at all, preferring to wait for users to discover the app on their own.

They haven’t been entirely silent though, choosing to retweet the experiences of users who are now playing around with the BSV wallet and reminding everyone how to migrate to the new wallet, providing a link to a helpful walkthrough incase anyone was having difficulty with it:

Up until this big release, the HandCash app was in Beta, requiring some additional steps to get working on iOS devices. Alex Agut, CEO of the company, noted that they’ve been waiting nearly a month for this process to run its course.

Now that it has, those iPhone users, of which there are hundreds of millions, all have access to one of the best BSV wallets available. The easy to use app has been a favorite of many, and local meetups have often taken up the hobby of recruiting new users by showing them the functionality of the app.

iOS users, either if they had an older version of the app or are trying it for the first time, are getting their hands on features that Android users have had access to since September. Although they will have to potentially migrate to new $handles, the app has an upgraded user interface and bug fixes, making it one of the most professional and user centric wallets on the market for any digital currency.

If you haven’t tried it yet, it’s definitely worth checking out. Early user reviews are that the iOS version of HandCash was definitely worth the wait.

Bitcoin Association sponsors Cambridge University Metanet Society to advance internet future on Bitcoin SV

Bitcoin Association announces its title sponsorship of the Cambridge University Metanet Society for the 2019-2020 academic year to support study and development of Bitcoin SV. The Society will use the financial support to conduct events that educate and promote the powerful capabilities of the BSV protocol, blockchain, and cryptocurrency.

Bitcoin Association is the global industry organization for the business of Bitcoin. It supports Bitcoin Satoshi Vision (BSV) as the only cryptocurrency with a blockchain that significantly scales (now), has robust utility (now), and is committed to a set-in-stone protocol for developers to build enterprise-level applications (now). BSV is also the only project that adheres to the original design of Bitcoin creator Satoshi Nakamoto. In short, BSV is Bitcoin.

Founded by Robin Kohze, a Cambridge genetics PhD student, the Cambridge University Metanet Society recognizes that the Bitcoin protocol has more to offer than just a decentralized cryptocurrency. The Society draws its name from the “Metanet” project designed by Dr. Craig S. Wright – Chief Scientist of nChain, the leading blockchain advisory, research and development firm with an office in London. The Metanet is a global protocol and framework for structuring and facilitating an Internet that operates on the Bitcoin blockchain. It combines Bitcoin’s dual capabilities to send financial payments and transmit data simultaneously in the same native transaction. The Metanet can create a better, more commercial Internet where all user activity and data has value to users. It is only possible on the Bitcoin SV blockchain, due to its massive scaling capability.

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Kohze recently took 2nd place at Bitcoin’s Association’s second BSV Hackathon, with final judging at the CoinGeek Seoul conference in South Korea. His project “Hive” drew upon his genetics background; it creates a “beehive” that connects information added by individuals around the world. Every content node containing the information needs one or more linked nodes and for every link to a node, it has a dynamic cost. The users are notified when new content is added, and the information is fetched directly from the BSV blockchain. 

The Cambridge University Metanet Society advances study toward achieving Metanet projects on BSV. It hosts weekly meetups and programs on the Cambridge University campus for students and thought leaders to hear speakers, debates and tutorials.  

As President of the Cambridge University Metanet Society, Robin Kohze remarks: “Cambridge is traditionally a place to bring the bright and creative together to exploring daring ideas and challenge the status quo. We thank Bitcoin Association for its financial support, enabling us to host 22 events this academic year to teach and support a new generation of Bitcoin developers that focus on real world utility applications.”

The first event under the sponsorship will be the evening of October 17, with featured speakers Dr. Craig Wright and Jimmy Nguyen, President of Bitcoin Association.

Nguyen comments: “As Bitcoin’s true power is finally being unlocked on Bitcoin SV, we are thrilled to support bright, daring minds at Cambridge University learn how to build the Metanet.  Their work will contribute to a future Internet that truly rewards users for their data, creates monetary value in user online activity, and incentivizes higher quality content – all only possible on BSV.”

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Register to attend the Metanet Society: The Bitcoin Vision event, organized by Cambridge University Metanet Society, here

Walmart pilot to track shrimp imports via blockchain

American retail giant Walmart has continued its foray into blockchain technology with a pilot project that will track shrimp imports. The project will ensure end-to-end traceability for shrimp sourced from India, a report by Inc42 has revealed. The retailer, which is the largest in the world both by revenue and employee count, believes the use of blockchain technology will improve the quality of the product.

The pilot will focus on shrimp imported from the state of Andhra Pradesh in India to selected Sam Club’s locations in the United States. The membership-only store, which is operated by Walmart requires all its suppliers of seafood products to complete internationally-recognized standard best aquaculture practices (BAP). This standard has previously made it impossible for small farmers to supply to the retailer, but this is all set to change.

To further support the small farmers in Andhra Pradesh, Walmart intends to fund them so that they can acquire BAP certificates. It will also assist them to gain new market opportunities.

In a statement, the company noted, “The introduction of blockchain in the shrimp supply chain could help improve the quality of information on the product for compliance purposes and for sharing with consumers, providing added traceability beginning at the farm and extending throughout the transportation process.”

Walmart has partnered with Sandhya Aqua, a seafood processing company based in Andhra Pradesh and Stanley Pearlman Enterprises, a U.S.-based supplier.

Chowdary Kunam, managing director of Sandhya Aqua, commented, “This end-to-end blockchain pilot is the first of its kind in India and has the potential to create long-term economic opportunity for the shrimp farming community in Andhra Pradesh, directly benefiting the farmers through new skills training and development.”

The project could grow into a multi-billion dollar channel, especially since India continues to dominate the shrimp market globally. The Asian country exports most of its shrimp to the U.S., with the industry registering $2.17 billion in 2018.

Walmart has continued to venture into blockchain technology, with its projects ranging from supply chain management to stablecoin ambitions. The retailer already relies on blockchain technology to trace its leafy greens while also assisting the FDA to track prescription drugs on the blockchain.

Bitcoin SV STN single block contains over 1.5 million transactions

The Bitcoin SV (BSV) blockchain saw an unofficial stress test at the end of September that proved once again the network’s strength. In an event designed to gauge how much data could be managed in a given 24-hour period, BSV supporters completed their endeavor with outstanding results, seeing blocks that routinely surpassed 100 megabytes (MB). This is consistent with the blockchain’s goal of offering a network that can handle block sizes needed to compete with conventional payment solutions such as Visa or MasterCard. Soon after, the BSV blockchain made history, becoming the first to ever record a block that contained over 1.5 million transactions.

The founding president of the Bitcoin Association, Jimmy Nguyen, revealed the results in an email to 8BTC, stating:

The test produced a number of blocks over 100MB in size (139 MB, 128MB, 119MB, 102MB), and many other significant size blocks. Prior stress tests have shown bigger blocks (for example, an August 3 stress test from China produced a 210MB block with over 800,000 transactions and a 150MB block with over 700,000 transactions). But the September 30 stress test showed again that it is no longer unusual to see big blocks of over 100MB in size mined on BSV. This is much, much more than the 1 MB blocks on BTC, and the 32MB block cap on BCH. [In fact, it has become recently apparent that some BCH mining pools still set their block caps much lower than 32MB, such as at 2MB, and there are conflicts now between the BCH community about the block cap].

This advanced capability is reportedly beginning to attract more attention from miners. CoinGeek and SV Pool are already established BSV miners, but other entities, such as OKEx, ViaBTC, ProHashing, Mining-Dutch and Poolin, have also joined.

The reason for this is simple – miners are going to be able to make more money going forward with their BSV mining operations. Nguyen explains, “When the block reward fixed subsidy amount halves again in May 2020 (from 12.5 coins to 6.25 coins), miners need to earn more in transaction fees to remain profitable. This will become even more important in 2024, when the block reward halves another time to 3.125 coins, and so forth. Satoshi’s economic design for Bitcoin requires blocks to scale much bigger to fit large volumes of transactions, so miners in the future earn more in transaction fees to compensate for the lower block reward fixed subsidy amounts. We are explaining this important message to miners.”

The 1.5 million transaction block was pointed out by Future Bitcoin on Twitter, providing a link to the record-setting activity on the Satoshi.io block explorer. It took place on October 6 and covered a total of 1,526,001 transactions. The fee for handling over 1.5 million transactions? Just $495.5, or an average of just $0.000324 per transaction.

Facebook Libra launch delayed? You can start betting on it

Facebook’s plan to launch its own cryptocurrency may be delayed beyond 2020. It appears that growing concerns related to regulation may bring a delay to the launch of Libra which was expected to occur in June 2020.

That news has sent shockwaves through the digital currency world, as crypto markets have fallen because of what is deemed as “chaos” regarding the speculation. One virtual currency exchange even saw a “dramatic crash” within minutes after the news that Libra may be delayed was revealed.

Not everyone is saying this is a bad thing, however. Some are not only reveling in the news but are giving you the opportunity to make some money off of the delay. CoinFlex, in particular, is offering prediction futures on whether Libra will actually launch next year or not.

This crypto derivatives exchange is offering futures contracts that will be settled based upon whether Facebook is able to launch its digital coin in 2020. The initial futures opening (IFO) will begin on October 24. The price will be set at $0.30, as it is believed that there is a 30% likelihood that Libra will launch by the end of next year.

For those looking to get in on the deal, the IFO will offer you just 30 minutes to participate to purchase contracts at that price. Traders will be able to bet on both long and short-term trades, with a cap of $1.1 per Libra.

In a statement, CoinFlex CEO Mark Lamb explained, “Facebook has the ability to rival the entire global banking system from day one, but, because of that fact, when that first day will be is far from certain. The political backlash has been brutal, and it’s anyone’s guess if Facebook will get this over the line.”

For those who do not get in on the initial IFO at CoinFlex, don’t feel you are left out of the market. The CEO of the Singapore-based exchange Three Arrows Capital, Su Zhu, explained that his platform will also likely be offering such an opportunity. He recently stated, “This can be interesting if it gathers liquidity as its kind of a prediction market on Libra.”

All the speculation has come from a growing number of countries creating regulations designed to protect investors and remove potential money laundering and scams from the digital currency market. In addition, countries such as France and Germany have pledged to block Libra from operating in Europe. It is these kinds of events that are likely to stand in the way of the launch of the Facebook currency, maybe stopping it from launching at all.

Facebook Libra: PayPal pulls out, Congress demands Zuckerberg testimony

The constant pressure on Facebook Libra has made it difficult for Libra Association members to lend their full throated support to the venture, with many of them considering dropping out entirely. Paypal’s breaking point appears to have been reached, as the payment provider has decided to leave the association as the U.S. congress calls on Mark Zuckerberg to testify and European NGOs petition against the digital crypto.

The bad news began when Facebook Chief Operator Officer Sheryl Sandberg had agreed to testify before the U.S. House of Representatives Financial Services Committee, but congress refused to schedule the hearing until founder Mark Zuckerberg agreed to appear as well, Reuters reported on October 4. That deadlock between the social media giant and Congress is bad enough, as the Libra Association had promised not to release its currency until regulators approved it, and there would be no chance for approval until Zuckerberg agreed to testify.

That was enough for PayPal to call it quits. The Block reported on the same date that a source within PayPal leaked they were done with the whole endeavor, but wished them luck going forward. “We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future,” PayPal said in a statement. “Facebook has been a longstanding and valued strategic partner to PayPal, and we will continue to partner with and support Facebook in various capacities.”

If losing PayPal, a major payment provider, wasn’t enough of a shock, take into account that they also recently faced news that both Visa and MasterCard have also recently considered backing out of the project.

But if that wasn’t enough bad news for Libra, a petition from several European NGOs also made the headlines, reaching 55,000 signatures calling on a ban for the currency. The petition was created out of fear that Facebook and its partners simply can’t be trusted to handle any more sensitive information:

Facebook has already breached our privacy countless times. Now, the big tech giant is preparing to invade one of our last areas of privacy: our money.

With partners already dropping and the pressure continuing to mount, Facebook will have to make a decision soon about what to do with its future digital currency, because it appears to be in serious trouble.

Craig Wright after CoinGeek Seoul: ‘Go ahead and just build’

CoinGeek Seoul recently wrapped up, and it featured some of the most important Bitcoin SV (BSV) personalities and companies in the world. But perhaps the biggest personality in attendance was Dr. Craig Wright, and he joined Stephanie Tower at the conclusion of the event to sum up his feelings about the two day event.

“It’s actually been a wonderful conference, lots of people actually building new things,” Wright told Tower, when asked how he felt about this most recent BSV event. “It’s great to see all the work that’s been done.”

Tower followed up on that Wright’s message would be to the developers who were considering working on the BSV blockchain. “Don’t ask permission, just do it,” he responded. “You’re going to have a scaled platform, one that’s not going to change, one that will allow you to do anything that you can imagine that is legal, that enables you to build a company, so do it. If you can find something, if you can get investment, if you can build, don’t ask my permission, go ahead and just build.”

Wright is especially hopeful when looking to the future, giving Tower his outlook on what 2020 will be like for Bitcoin “There won’t be a scale limit anymore,” he noted. “We will basically be getting rid of the default cap all together, and at that point, there’s no more limits on Bitcoin.”

When asked if he was scared of the possibilities coming in the future of Bitcoin, Wright noted that he wasn’t, as the worst is already behind him. “The hard part, well, that’s actually the last 10 years of getting to a point where we have Bitcoin, and we can now take it and scale it to the world.”

Now that Bitcoin is ready to follow its original vision, Wright helped paint a picture of what is becoming possible. “Imagine a world where corruption is disincentivized,” he told Tower. “Where people are no longer paid under the table to take money, to have corrupt governments, where everything like that, all crime can be reported, where fraud, the evidence is there forever. Where computer hackers are traceable. It’s a different world, and one I’d love to be in.”

UptimeSV founder talks building on the BSV blockchain

When the inaugural Bitcoin Association Virtual Hackathon was announced, several developers got to work, creating some of the most innovative blockchain-powered projects seen to date. UptimeSV emerged victorious and during the recent CoinGeek Seoul conference, project leader Dean Little shed some light on what the team has been up to since then.

UptimeSV is a crowdsourced network intelligence platform that gives its users robust and DDoS-hardened enterprise systems. Uptime monitoring is crucial in the modern era where most business is done over the internet. Still, monitoring when and where your website is online remains a great challenge for many companies. This is the challenge that UptimeSV sets out to solve, relying on the microtransaction capability of the Bitcoin SV network to make small payments for its users.

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Little, who is the co-founder and lead developer of UptimeSV revealed that for him and his team, winning the Hackathon let them know that their product was something people were interested in. Thus, immediately after being declared the winners, the team set out to work in June this year and launched the beta signup a month later. In a month’s time, the platform had over 500 signups.

In their quest to build one of the most innovative applications on the blockchain, the team encountered three key challenges. One of these was spam, and while spamming in Bitcoin only means that the spammer contributes to the betterment of the ecosystem by paying the miners, there are certain types of spam that can be quite annoying. These include OP_RETURN spam and P2P broadcast network spam.

To solve this, the team built Unplanaria which allows you to create a transaction, send it to a business which can then take the data needed from the transaction without necessarily having to scan the entire blockchain.

Unplanaria, which Little described as BIP270 for apps, drastically reduces OP_RETURN spam, protects merkle proofs, allows for a much smaller network footprint and is horizontally scalable.

The team also devised a solution to the challenge of address resolution. The Bitcoin ecosystem has quite a number of address types, from P2PKH addresses to P2SH, Paymail and more. To solve this, the team built Polynym which supports HandCash, RelayX and Paymail handles. Polynym is an interim solution for BSV addressing, with Little stating that he believes in the future, this issue will be handled through a more standardized approach.

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The third challenge was UTXO management, he noted. To solve this, the team developed Datapush which enables for the publishing of huge amounts of data to the blockchain really quickly.

“So, we have a single unique top up address which you send your Bitcoin to. It tops up a bunch of XPRIV threads and then it generates a bunch of UTXOs and addresses. What it can do is chain them, it can publish them to an actual payment channel for a miner, and the miner can help you broadcast those transactions.”

Datapush seeks to reduce the number of HTTP requests and handle the UTXO management locally, giving you a really efficient transaction creation and allowing you to write a lot of data on the blockchain quickly.

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The UptimeSV team hasn’t abandoned its core mission; that of making the platform better and scaling it for global use. It rebuilt the entire mobile app since winning the inaugural Hackathon.

“The way we’d done some things worked really well in a really small scale but when you want to have thousands of users querying websites, you want to make sure that it doesn’t accidentally turn into a DDoS attack,” Little explained.

The app has also been enhanced with other new features including support for English, Chinese and Japanese, with plans to add Korean soon. The app will also integrate more currencies, enabling you to view how much you’ve earned.

Little also revealed that the team was aiming for an October 30 private beta release. To register for the beta release, head on to UptimeSV.com.