Blockchain investment at all-time high with little to show for it

Blockchain start-up investment has never been more fashionable. That’s the reveal from Outlier Ventures, who recently published a report analyzing blockchain investments going back to 2013.

In their study, Outlier Ventures reveals that $23.7 billion has been invested in blockchain companies since 2013. More than half of that amount came in 2018 alone, with nearly $14 billion being raised. Another $3.7 billion has been raised so far in 2019.

The details of the investments is perhaps more revealing. Outlier notes that 55% of the investment funding rounds were for seed funding. They have thoughts as to why companies are struggling to get additional investment:

This financing has not converted to follow on-rounds, and indicates that while early stage funding is relatively easy, many traditional VCs are waiting for evidence of product-market fit and clearer signs of revenue before making further investments.

Their theory is that while blockchain companies have succeded in getting initial funding, they haven’t had much help with actually building their project. “The challenge is more about expertise and guidance at early stages, especially when it comes to areas unique to Web3 such as token design,” they conclude.

There’s another way to look at this. The vast majority of blockchain projects are almost like hobby projects, and they are not built to scale to the needs of the market. Although developers are working on neat ideas that can secure initial funding, they fail at being adopted because they can’t scale to the needs of adopters.

That’s precisely why investment firms should look to developers who work on the only blockchain that can scale massively to the needs of businesses and the public, Bitcoin SV (BSV). BSV projects are not just ideas being built in a vacuum; the talented developers working on the real Bitcoin are working on business plans that can be rolled out immediately for public use. They are the most likely candidates to take a round of funding and realize something of utility in short order.

‘Goldrush’ predicted for onchain social content

Plans to improve on today’s ‘free’ social media business model — in which services are paid for by selling users’ information to advertisers — have always raised a difficult question: how can you get people to start paying for something which they think of as free at the moment?

Many ideas involve users being rewarded for content that they post. No doubt those users would be happy. But without selling their data to advertisers, the audience would have to pay, somehow, to use the network. Bitcoin could make those transactions technically easier and cheaper, but is that enough? It looks like Bitcoin SV (BSV) entrepreneurs are starting to provide some real solutions.

A panel at a recent London Bitcoin Meetup was produced and chaired by Darren Kellenschwiler, an entrepreneur who’s working on his own BSV startup Probat.us which will connect ID and content, but independent of any particular platform. During Darren’s session, advocates of BSV-supported social media came up with some plausible answers to the question of why users would want to pay.

Twetch is a social media startup — a kind of homage to Twitter — where users have to pay BSV with Money Button to add content. But don’t think of that as paying for what you could get free on Twitter, said CTO Ben Izvirni. Instead, you’re paying a little — the BSV equivalent of maybe just a couple of pence or cents — to have your information stored on the blockchain immutably.

What’s more, even if you have to ‘pay to play,’ said Jonathan Aird another BSV entrepreneur and the founder of BSVnews.today, there’s an incentive to do so, because you can make some money back when people reward you for good content. Jonathan had already made about $2 on Twetch, he revealed proudly. “On the chain, the content is king and you are the content,” he said.

Finally, Maria Eugenia Lopez of Yours.org, another platform that rewards content creators, said that the quality of engagement was different when social media is powered by Bitcoin: as a user, you pay attention because you’re paying.

Ben was outspoken in his critique of current social media. The companies behind them “rarely give something back to society”. There are “too many clickbait articles” and “people are wasting their time”. What’s more, people “want to own their own data”, which a BSV-rewarded system makes possible.

So how to get from here to there? Ben said that Twetch is working on features that are common in existing social media, implying that new users should find themselves in a relatively familiar environment. And Twetch is thinking about encouraging new users by offering them a small amount of credit to start using the system, or offering credit to people for referring new users.

Jonathan Aird said he’s looking forward to a time when even high quality video can be stored on the BSV blockchain, and predicted “there’s going to be a goldrush in onchain social content.”

For Darren Kellenschwiler, the possibilities for BSV-powered social media are exciting because they mean that by requiring a small payment, “you’re paying for people’s attention”. The new platforms should succeed because their business models ”better reflect the reality that people’s time is worth something”. But Darren admits that when content-originators are rewarded when someone comments on their post, they are incentivised to create “call and response” posts, “baiting you into commenting.”

It’s too early to say how the new business models will evolve as they learn what users are prepared to create for the new generation of BSV social media startups. No doubt there will be a process of trial and error before the right mix of editorial costs and rewards is found. But in an echo of a familiar call in relation to Bitcoin from Jimmy Nguyen, Founding President of the Bitcoin Association, Ben insisted that it’s time for social media “to start growing up.”

Money Button now supports safe on-chain data

Money Button has increased its support for on-chain data by enabling a new transaction type, known as safe data outputs, which will be enabled by the new Bitcoin SV (BSV) node software. Additionally, the company revealed in a blog post that it has updated its JavaScript BSV library to support the new standard output type.

This is just the latest update by Money Button in its continued support for on-chai data. In January, Money Button became the first wallet to support larger OP_RETURN data sizes of up to 100 KB. This made it possible to possible to store video, audio and image files as well as any other type of data on the BSV blockchain in a single transaction. The wallet’s creator, Ryan X Charles, was crucial in creating the first 128 MB-sized blocks.

OP_RETURN is the simplest mechanism for creating an unspendable output and carrying data within a Bitcoin transaction. However, in the original Bitcoin source code, OP_RETURN didn’t invalidate a transaction. Instead, it invalidated the output based on whether the return value was true or false. This was later changed by Satoshi Nakamoto to deter malicious behavior.

However, the new Bitcoin SV node software has restored the original purpose of OP_RETURN by ‘enabling a new standard output type forwards-compatible with the full original functionality of OP_RETURN.’

Money Button has enabled the new standard type, the wallet revealed. Scripts starting with OP_FALSE OP_RETURN will be considered standard and will broadcast with Money Button.

The new output is considered safe for a number of reasons, the first of which is that it will be the output type that all data applications will support in the future. The outputs will also be unspendable and prunable, which will potentially lead to gains in efficiency and save costs for users and miners. The blog post concluded:

Money Button supports many of the advanced features of the Bitcoin SV blockchain already has long-term plans to support every advanced feature, making every conceivable application possible. Safe data outputs are important milestone towards our limitless future.

CodeOnChain introduces a GitHub for the BSV blockchain

As the Bitcoin SV (BSV) ecosystem continues to scale and grow, more resources are being made available on the blockchain, making the internet increasingly a thing of the past. The march of time and innovative BSV developers are making this true, and Twitter user @jolon has contributed significantly to this with his release of CodeOnChain.

Announced by Unwriter on July 22, CodeOnChain was originally programmed by Jolon and acts as a GitHub on the BSV blockchain. Developers can upload their software to the service, saving it forever on the Bitcoin blockchain.

Using the service isn’t too tricky. Developers simply need to use the bsvpush command line tool, also published by Jolon, to upload their software folder to the CodeOnChain service. Then other users can browse it by simply visiting the CodeOnChain site, which has a featured apps tab, recent apps tab and transaction ID search. Each uploaded folder can be browsed, and displays the included files and documentation of the app, along with the transaction IDs used to save the app to the Metanet.

As Unwriter noted, with the inclusion of Moneybutton to tip open source developers, CodeOnChain introduces a whole new potential business model. Monetizing an open source app, which previously could be a very tricky thing to do, is now incredibly easy as anyone who appreciates the work of either Jolon or Unwriter can contribute to their work and keep their apps progressing.

Also, special to the BSV powered Metanet is the ability to create versioning of applications. Using bsvpush as an example, should Jolon improve the application and want to publish a new version to the blockchain, doing so is a fairly simple feat thanks to the Metanet protocol.

Having a GitHub like service on the BSV blockchain is a big step forward for developer freedom as well. GitHub has been a source of controversy in the past due to censorship, and Microsoft’s 2018 purchase of the service almost guarantees it will be further censored.

Just having been announced to the public very recently, there still aren’t a lot of folders uploaded to CodeOnChain. At the time of publication, there are three repositories to be found. With Unwriter’s announcement garnering plenty of attention and retweets though, other BSV developers can likely be expected to start using the service shortly.

Bitcoin SV (BSV) “Quasar” protocol upgrade continues massive blockchain scaling, lifting default block cap to 2GB

On 24 July 2019, the Bitcoin SV (BSV) network will undergo a key protocol upgrade focused on scaling. The “Quasar” upgrade lifts the default block size “hard cap” on BSV from its current 128MB to 2GB (2000 MB). Although the default maximum block size will be 2GB, initially, a significant portion of miner hash rate will manually set their hard cap to a lower (but still very robust) level of 512MB – far higher than any other competing Bitcoin project.

The Quasar upgrade represents a key step in BSV’s journey to unlock the massive on-chain scaling power that was always possible with Bitcoin, and enable BSV to become the global enterprise blockchain. BSV can already handle 300+ transactions per second comfortably; this capacity is continually being expanded and is expected to cross 1000+ transactions per second in the coming months after the Quasar network upgrade. This level of capacity can compete with VISA payment network capacity and also supports enterprise applications. 

BSV is the only coin with a blockchain that significantly scales (now), has robust utility (now), and is committed to a set-in-stone protocol for developers to build on (return to original Bitcoin protocol to be completed by February 2020). BSV is also the only coin that adheres to the original Bitcoin white paper. In short, BSV is Bitcoin.

Bitcoin Association Founding President Jimmy Nguyen comments on how the Quasar upgrade helps Bitcoin miners: “Miners need to be aware that massive scaling is critical for their profitability – especially after the next block reward halving in May 2020 which reduces the block reward subsidy from 12.5 to 6.25 coins, and then again in 2024 when the subsidy is reduced to 3.125 coins, and again every several years after. For mining to remain profitable, miners need to earn more in transaction fees from each block to compensate for the lower block reward subsidy. This is only possible on BSV. During a 21 May 2019 test on the BSV Scaling Test Network, a 1.42GB block was mined – which resulted for the first time in transaction fees which were more than the 12.5 coin block reward subsidy. This is how Bitcoin’s economic model is meant to work, and this is what Satoshi always envisioned to ensure miners remain profitable.” 

The BSV network will upgrade to Quasar on 24 July 2019 at approximately 13:00 G.M.T. Mining nodes and blockchain listeners are encouraged to immediately update their BSV software, in advance of the network upgrade. (Miners write to the blockchain. In contrast, “blockchain listeners” are businesses and individuals who run an instance of Bitcoin SV – such as exchanges and wallet operators – but are not involved in mining and thus do not write to the blockchain.)

A more detailed announcement of the Quasar upgrade is available here, with specific recommendations for miners and blockchain listeners. Source code for the Quasar upgrade will be available on the BitcoinSV.io website at https://download.bitcoinsv.io/bitcoinsv/0.2.1/.

Steve Shadders, nChain’s Chief Technology Officer and Technical Director of the Bitcoin SV Node team previews what is coming next: “With the Quasar upgrade, Bitcoin is beginning a cultural transition as miners start learning it is their role to manage block sizes based upon market forces and their own economic incentives, rather than leaving block size to be arbitrarily dictated by protocol developers. In February 2020, the BSV network will take another step in this transition with its ‘Genesis’ upgrade – in which the Bitcoin SV Node team will completely remove the default hard cap (or more accurately, the default hard cap will be infinite). This will open the door to infinite scaling of the BSV network, and foster the new Bitcoin culture where miners are responsible for block size.”

Future global money: Balancing freedom and regulation

After debating how Facebook’s Libra was energising the blockchain and fintech scene on the first day of Fintech Week in London, the second day featured another panel also called The Future of Money, which took a broader, more political perspective.

To understand the discussion, you needed to be familiar with the unpronounceable acronym FATF—the Financial Action Task Force—an inter-governmental body set up way back in 1989 to coordinate international action to prevent money laundering and other nefarious financial activities. Crypto has presented FATF with a whole new set of challenges and the body has brought out a number of reports and recommendations. The latest, only last month, warns starkly that:

“The threat of criminal and terrorist misuse of virtual assets is serious and urgent, and the FATF expects all countries to take prompt action to implement the FATF Recommendations in the context of virtual asset activities and service providers.”

That may sound like something everyone could get behind, but in introducing the panel that he was moderating, Barry James suggested that FATF “is in danger of killing crypto.” He hinted that “the banking lobby” had undue influence in FATF. There was general agreement amongst his panelists that bankers would not welcome any kind of fintech revolution with open arms.

Thomas Power of Team Blockchain recommended an article in the Financial Times (‘Banks in no rush to join Facebook’s crypto project’) which supported James’ view. Its writer notes that in relation to Libra, “There has been silence from the banks about a project that threatens to break down their role as gatekeepers of the global financial system.”

Power himself was firmly on the side of the revolutionaries: “Money itself now has a competitor,” he said, “we haven’t absorbed that.” One consequence, he hoped, would be to put ordinary users in control, selling their attention to big tech companies instead of having information about them sold to advertisers: “Power is moving back to us.”

David Palmer, an economist, was another panellist who questioned the role of the FATF: “the global population are sleepwalking into a new era of regulated cryptocurrencies …We saw a change with crypto but the FATF is just bringing us back to the status quo.” Whilst FATF may be “paving the way for mass adoption” the problem is that the new systems may be run by the same players as the current financial establishment. “It’s going to be a bumpy ride,” Palmer predicted.

The most radical views came from Marianne Haahr of the Sustainable Digital Finance Alliance. For her, even if initiatives like Libra could wrest power from the banking establishment, that wouldn’t necessarily be good. It would simply be handing it to “white males in California.” And in doing so, the central banks of developing countries would be in danger of losing what leverage they have over their own economies.

To promote sustainability, Hahr wanted to see “green intent” as a requirement of regulatory structures and other financial systems. We could even be offered tax breaks for taking exercise, she suggested. We can’t just think in terms of the market: sustainability is so urgent that we need “all hands on deck” to deal with the crisis.

Questions from the audience revealed some radical thinking there too. One person said that for all the talk of projects like Libra helping the unbanked, because Libra was to be backed by a mix of established fiat currencies, in effect, the unbanked would be supporting the established financial world. A second questioner dismissed Libra as a cryptocurrency altogether. It’s really just a “corporocurrency” he said, and possibly the first of many.

The power of the FATF to control fin tech regulation was reaffirmed at the Osaka meeting of the G20 last month. In the agreed final declaration, the participants agreed that “while crypto-assets do not pose a threat to global financial stability at this point, we are closely monitoring developments and remain vigilant to existing and emerging risks.”

No mention of “emerging opportunities” then?

Developer Unwriter and his tools explained at CoinGeek Toronto 2019

The CoinGeek Toronto 2019 conference held last month was an incredible opportunity to truly understand what is happening with Bitcoin SV (BSV) and some of the awesome advances seen with the real Bitcoin. One developer who understands all too well the value of coding on the blockchain for real-world value is the mysterious “unwriter,” who has repeatedly introduced solutions that prove the viability of blockchain applications. Joshua Henslee, an ERP consultant and co-founder of the BSV Meetup in San Francisco, spoke at CoinGeek Toronto, where he discussed many of unwriter’s developments, as well as gave a hint about the coder’s possible real identity. 

The massive scaling allowed with BSV, coupled with the flexibility of the platform, has already allowed for a great number of real-world use cases on why transitioning to blockchain is an important decision for any business, as well as one that will eventually have to happen.  Unwriter is responsible for some of the most powerful tools on BSV. They always come with excellent documentation and aren’t difficult to understand. The tools don’t require a lot of code, but have proven to be powerful. However, developers have to have experience with software implementation, best practices and extensible solutions in order to properly interact with the applications.  (2:16)

Because of unwriter’s work, as well as that of other developers, APIs, web stores, etc. are all possible on the blockchain. A perfect example was unwriter’s publishing of “Alice in Bitcoinland,” a serverless website that was completely contained in a single BSV transaction. This demonstrates how data can be put back in users’ hands and monetized, providing a verifiable source for the data, as well as solid revenue streams. 

Another example is Datapay, which is a JavaScript library used to build and broadcast data transactions to the blockchain. Datapay is only four lines of code and is a great place for beginners to start. It allows for easy entry into blockchain development because of its simplicity. (5:30)

Planaria is another incredible advance for Bitcoin. It is an API that is powered by the blockchain and contained as an API microservice so only JavaScript knowledge is needed for development. The growing list of solutions also includes Bitpipe, which can broadcast Bitcoin transactions based on HTTP requests and leverages Datapay. 

Henslee admits that he isn’t a professional developer, although he does have a little bit of experience. However, this limitation didn’t prevent him from creating One Page Checkout, an eCommerce payment solution that “Leverages Money Button and Bitcom.” It can prevent fraud and improves transparency and combines six different payment processes into a single transaction. This not only improves the customer experience on the retail platform, but also completely eliminates fraud and improves transparency

If anyone wants to know who the elusive unwriter is, Henslee thinks he has the answer. He recommends that curious minds was the Bitcoin Doco interview with Dr. Craig Wright from 2014 and “then watch the Crypto Black Pill video back to back for the best theory.”  (25:50)

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‘Simple’ BSV makes it easy for Zweispace to add earthquake data to blockchain

First came the automated weather channels. Now, even earthquake data can be found on the Bitcoin SV (BSV) blockchain.

Real estate blockchain company Zweispace has tapped into the BSV network to record earthquake-related information, in a bid to lessen the risk of earthquake data being manipulated, particularly in disaster-prone areas like Japan.

CEO Hayato Kameta, a 20-year veteran of the real estate industry, describes earthquake research as a “slow area in academics,” where not only “not many specialists compete” but has also been riddled with incidents of data manipulation. In Japan, for instance, quake damper producer KYB Corp. admitted in October 2018 that it falsified data for products focusing at improving earthquake resistance. More recently, a Kyoto University professor has been found to have fabricated data in a 2016 paper that examined the 7.0 magnitude earthquake that occurred in Kumamoto, Japan, in 2016.

“Construction companies have incentive to hide the fault. They usually never research the outcome after finishing constructing buildings,” Kameta tells CoinGeek. “From my quick study of the structural dynamics field, it doesn’t make sense much, and [I] thought non-linear AI [artificial intelligence] analysis will be much efficiently and accurately describe the structural motion of the buildings, so I set that to blockchain and let everyone access the truthful data survived through earthquake by distributed ledger, and build system using AI.”

This way, Kameta said people from anywhere around the world can access the data, which they can use to come up with their own model for predicting earthquake impact. He notes, “That can be more important than Google’s analyzing images and language structure, at least for Japanese, and countries with many earthquakes.”

Zweispace has already recorded data gathered from its “detectors connected to Internet,” or their “Internet of Things (IoT) sensors.” Kameta, however, clarified that no private information is revealed since they only record data “roughly by longitude, latitude and height, like AirBnB property location.”

The data is recorded on the BSV blockchain, which Kameta describes as a “simple” blockchain that allows his team to manage the challenges they encountered with this initiative. Zweispace has been using the BSV chain, which emphasizes security and is regulation-friendly, as its public blockchain for real estate data storage.

And that’s just the opening salvo for Zweispace. According to Kameta, “other sensors are ready” to gather more data soon.

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Squire与Core Scientific签订关于托管区块链云计算资产的约束力意向书

英文版在这里

不列颠哥伦比亚省温哥华,2019年6月5日:Squire Mining有限责任公司(CSE:SQR | FWB:9SQ | OTCQB:SQRMF)(以下简称“Squire”)欣然宣布,其已签订了一份具有约束力的意向书(以下简称“协议”),根据与Core Scientific股份有限公司(以下简称“Core Scientific”)的托管协议,将重新安置41,166个区块链云计算单位(以下简称“资产”)。

按照此协议,这些资产将托管于Core Scientific在美国最先进的设施中,并且将使用Core Scientific的专有技术优化性能。此外,双方已就开发基于比特币SV的区块链供应管理和分销解决方案达成合作协议,通过该解决方案,区块链和加密采矿领域的硬件制造商、基础设施提供商和终端用户将有望从中受益。Squire承诺提供6,375,000美元的托管预付款,并承担重新安置资产的运输和海关费用,Core Scientific也已承诺将花费不少于12,000,000美元来扩建其基础设施以容纳该资产。

Core Scientific是人工智能(“AI”)和区块链领域的领先企业,提供一流的基础设施和软件解决方案。在这样一个日益分散但又彼此互联的世界中,Core Scientific坚信人工智能和区块链将从根本上改变信息在各行各业中的处理、共享和存储方式。Core Scientific由拥有10年以上人工智能和区块链成功经验的团队领导管理,提供大规模定制托管解决方案。

Core Scientific正在使用其大规模运营基础设施的先进能力,在人工智能和区块链领域进行开拓性的创新和最佳实践。Core Scientific平台深受全球大型合作伙伴的信赖,因其能够提供可靠的解决方案,以快速适应不断变化的市场条件。

Core Scientific的首席执行官凯文·特纳(Kevin Turner)评论道:“我对Core Scientific与Squire的合作感到由衷地高兴。我们业界领先的内部管理和监控解决方案Minder™,可将我们的托管专业技术与数据分析和人工智能相结合,以确保持续的正常运行时间、警报、监控和管理,我们的ASIC定制操作系统MinderOS™和优化套件能为Squire提供可观的盈利收益。”

随着比特币SV成为大规模扩容的区块链,目前至关重要的是,该领域运营商充分了解此网络的复杂性和标准化的需要,以便企业和机构用户采用接纳此生态系统。

Squire的董事长斯特凡·马修斯(Stefan Matthews)表示:“对于Squire来说,能与行业内声誉如此卓著且广受信赖的领头企业合作是至关重要的。Core Scientific拥有先进和安全的设备,他们对于最佳性能、专业维护以及内部控制的关注,将对Squire的运营和我们的资产寿命产生深刻影响”。

关于Squire Mining有限公司

Squire是一家总部位于加拿大的技术公司,其通过子公司从事开发和运营云计算数据基础设施和系统技术的业务,以支持与比特币SV、比特币核心和其他SHA-256衍生数字资产相关的全球区块链应用。

关于比特币SV正如创建者中本聪(Satoshi Nakamoto)所述,比特币中本聪愿景(BSV)是唯一遵循比特币原始设计、协议和愿景的比特币实现。Squire支持BSV路线图,因其是唯一计划通过显著提升比特币区块大小来实现大规模区块链扩容的项目。通过扩容,区块可以容纳支持更多交易和数据,从而为矿工带来更多的交易费,同时可让加密采矿业了解大规模区块链扩容对于整个比特币生态系统的重要性。Squire战略委员会成员克雷格·怀特博士(Dr. Craig S. Wright)现已获得美国版权注册,被认定为原始比特币白皮书和原始比特币代码大部分内容的作者,其使用的笔名为“中本聪”。

关于前瞻性信息的警示声明:本新闻稿包含《加拿大证券法》所定义的前瞻性信息。前瞻性信息和陈述包括但不限于基于对未来经济状况和行动方案假设的可能事件的披露。前瞻性信息必然基于大量的预计和假设,这些预计和假设虽然合理,但仍受已知和未知风险、不确定性和其他因素的影响,这些因素可能会导致实际结果和未来事件与前瞻性信息所表述或暗示的内容有重大差异。这些因素包括但不限于:普通业务、经济、竞争、政治和社会不确定性、不确定和不稳定的股权和资本市场、可用资本短缺、未来对比特币SV、比特币核心和其他加密货币的需求、与之相关的采矿风险、整合问题、人事与人员配置要求、技术变更和淘汰,以及无法满足交易完成条件的风险。对以下方面不提供保证:根据协议重置区块链和云计算单位的用时和完成情况Core Scientific签订的协议效果以及托管协议对Squire业务的影响SquireCore Scientific在开发基于比特币SV的区块链供应管理和分销解决方案方面的合作用时、完成和成功情况(包括为区块链和加密货币采矿领域的硬件制造商、基础设施提供商和终端用户带来任何收益);关于Core Scientific人工智能和区块链领域的创新和最佳实践的声明;以及Squire董事长的声明。实际结果和未来事件可能与此类前瞻性信息中的预测产生重大差异。因此,读者不应过分依赖前瞻性信息。以上新闻稿中所有的前瞻性信息均截至本新闻稿发布之日并由本篇警示声明认可,后续披露的文件将可在SEDAR网站www.sedar.com上进行访问。无论是由于新信息、未来事件或其他原因,Squire不承担任何更新或修改此类前瞻性信息的意图或义务,但法律要求除外。

备注:比特币核心(隔离见证)链上的代币被称为BTC币;比特币现金ABC链上的代币被称为BCHBCH-ABCBAB币。

比特币中本聪愿景(BSV)是目前唯一遵循最初中本聪白皮书的比特币项目,其遵循中本聪的原始协议和设想。BSV是唯一一个维护比特币初始愿景的公链,并将大规模扩容成为全球新型货币和企业区块链。

Unwriter announces Bitbus, the Bitcoin-less Bitcoin computer network

Unwriter announces Bitbus, the Bitcoin-less Bitcoin computer network

The development world of Bitcoin SV (BSV) doesn’t usually have wait very long for new applications from Unwriter, the anonymous developer. On June 5, he took to Twitter once again to announce his latest innovation, Bitbus.

The new development is a Bitcoin-less Bitcoin Computer Network. Unwriter went on to define it a little bit more specifically, explaining:

“Instead of having to run a full Bitcoin node (hundreds of GB and soon TB), you can instantly create your own filtered replication using Bitquery in seconds. Only store what you need for your app. Instead of hundreds of GB, you store a few MB.”

What this effectively means, for businesses and BSV developers, is that they will no longer need to run a full Bitcoin node. Instead, they can use Bitbus to get only the information they need from the blockchain, ignoring the potential terrabytes of data that could have otherwise slowed them down.

The Bitbus website features documentation to better understand what it is, as well as a tutorial of how to get started with the new service, and a link to its GitHub. It also has a working demo, using WeatherSV.

This new service helps answer one of the biggest criticisms of the bigger block sizes of BSV, namely that terabytes of data would become too burdensome for developers to run their own nodes for. With Bitbus, that’s no longer an issue at all, proving that innovation from bright minds can tackle any problem in the way of massive scaling.

Bitbus takes advantage of the Bitcoin Association’s Open BSV License, meaning it is available exclusively for the BSV blockchain. This shows once again Unwriter’s committment to the original Bitcoin protocol, and the mentality amongst BSV developers to keep their work exclusive to the only blockchain adhering to the original Satoshi vision.

The response to Unwriter’s latest reveal immediately caused a positive response. One user replied, “The need to run a full node was limiting me in what I could create. This is a game changer!”

As Dr. Craig Wright noted at the recent CoinGeek Toronto scaling conference, the future of Bitcoin isn’t in changes to the protocol, but in the development that is happening now amongst the community. Unwriter hasn’t only been a huge positive force in that movement, but with innovations like Bitbus, he’s helping others to accomplish more too.

squire-enters-into-a-binding-letter-of-intent-with-core-scientific-for-hosting-of-blockchain-cloud-computing-assets2

Squire enters into a binding letter of intent with Core Scientific for hosting of blockchain cloud computing assets

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VANCOUVER, British Columbia, June 05, 2019 — Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire”) is pleased to announce that it has entered into a binding letter of intent (the “Agreement“) to relocate 41,166 blockchain cloud computing units (the “Assets”) pursuant to a hosting agreement with Core Scientific Inc. (“Core Scientific”).

Pursuant to the Agreement, the Assets will be hosted at Core Scientific’s state-of-the-art facilities in the United States and performance will be optimized using Core Scientific’s proprietary technology. Additionally, the parties have agreed on a collaboration with respect to the development of a Bitcoin SV-based blockchain supply management and distribution solution that is expected to benefit hardware manufacturers, infrastructure providers and end-users in the blockchain and crypto mining sectors. Squire has committed to providing hosting prepayments of US$6,375,000 and covering shipping and customs costs to relocate the Assets, and Core Scientific has committed to expending a minimum of US$12,000,000 to buildout its infrastructure to accommodate the Assets.

Core Scientific is a leader in artificial intelligence (“AI”) and blockchain, delivering best-in-class infrastructure and software solutions. In an increasingly distributed and connected world, Core Scientific believes AI and blockchain will fundamentally change the way information is processed, shared and stored across a range of industries. Led by a team that has a 10+ year AI and blockchain success story, Core Scientific provides custom hosting solutions at scale.

Core Scientific is pioneering new innovations and best practices in the AI and blockchain landscape, with advanced capabilities operating infrastructure at scale. Core Scientific’s platform is trusted by large-scale partners around the world to deliver reliable solutions that quickly adapt to dynamic market conditions.

Core Scientific’s Chief Executive Officer, Kevin Turner said, “I am delighted that Core Scientific is partnering with Squire. Our industry leading in-house management and monitoring solution, Minder™, combines our hosting expertise with data analytics and AI to ensure continuous uptime, alerting, monitoring and management, and our custom ASIC operating system, MinderOS™, and optimization suite provides significant profitability gains for Squire.”

With Bitcoin SV becoming a massively scaled blockchain, it is paramount that operators in this space understand the complexities of this network and the need for standardization so that the ecosystem is adopted by enterprise and institutional users.

“It is important for Squire to partner with such a reputable and trustworthy industry leader in the space. Core Scientific’s facilities are advanced and secure. Their focus on optimal performance, dedicated maintenance and internal controls will have a significant impact on Squire’s operations and the longevity of our assets,” Stefan Matthews, Chairman of Squire.

About Squire Mining Ltd.

Squire is a Canadian based technology company engaged, through its subsidiaries, in the business of developing and operating cloud computing data infrastructure and system technology to support global blockchain applications related to Bitcoin SV, Bitcoin Core and other associated SHA-256 derived digital assets.

ABOUT BITCOIN SV: Bitcoin Satoshi Vision (BSV) is the only Bitcoin implementation that follows Bitcoin’s original design, protocol and vision, as expressed by its creator Satoshi Nakamoto. Squire supports the BSV roadmap as it is the only project that aims to enable massive blockchain scaling by significantly increasing the Bitcoin block size so blocks can fit much more transactions and data and thus generate more transaction fees for miners, and outlines for the crypto mining sector why massive blockchain scaling is important for the entire interrelated Bitcoin ecosystem. Dr. Craig S. Wright, who serves on Squire’s strategic advisory board, has been issued U.S. copyright registrations, as author under the pseudonym Satoshi Nakaomo, for the original Bitcoin white paper and most of the original Bitcoin code.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” as defined under applicable Canadian securities legislation. Forward-looking information and statements include, but are not limited to, disclosure regarding possible events, that are based on assumptions about future economic conditions and courses of action. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV, Bitcoin Core and other cryptocurrencies and risks related to the mining thereof, integration issues, personnel and staffing requirements and technological change and obsolescence and risks that the conditions to closing in respect of the transaction will not be satisfied. There are no assurances with respect to: the timing and completion of the relocation of the blockchain and cloud computing units pursuant to the Agreement; the effect of the Agreement and the hosting agreement with Core Scientific on Squire’s business; the timing, completion and success of the collaboration by Squire and Core Scientific with respect to the development  of a Bitcoin SV-based blockchain supply management and distribution solution (including any benefit therefrom to hardware manufacturers, infrastructure providers and end-users in the blockchain and crypto mining sectors); statements relating to Core Scientific’s innovations and best practices in the AI and blockchain landscape; and statements made by the Chairman of Squire. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward-looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Squire disclaims any intention or obligation to update or revise such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Paymail launches, makes Bitcoin as easy as email

Paymail launches, makes Bitcoin as easy as email

Increasing Bitcoin adoption means simplifying it for the average user, and putting it into terms that anyone can understand. That’s why Ryan X. Charles, founder of Money Button, has announced Paymail, a new identity protocol for Bitcoin SV (BSV).

Paymail seeks to do for Bitcoin what email did for the internet. Instead of traditional Bitcoin addresses, it introduces “human-readable names that look exactly the same as email addresses.” This is done with the intention that users shouldn’t have to interact with “long, random, unfamiliar character strings like Bitcoin addresses.”

The initiative, developed collaboratively with top BSV developers, including nChain, Money Button, Handcash, Centbee, and Electrum SV, will benefit the entire Bitcoin SV ecosystem. It emerged from a workshop of Bitcoin Association, the leading global organization for Bitcoin business, which supports BSV. The Paymail protocol is open for free use with any application on the BSV blockchain, and is fully compatible with email.   

As it works with addresses that look exactly like email, it’s ready for adoption with existing email domains. Charles wrote in the announcement:

“If Google wishes to add support for Paymail, they will be able to roll out support seamlessly for all Gmail users without interrupting service or changing any of their email infrastructure. Every Gmail user will be able to send and receive Bitcoin, and perform other advanced applications, directly from Gmail, while still being able to use Gmail as an email service (and an identity service) in the same way they do currently.”

If Google were to elect to do that, that opens up potential BSV adoption to 1.5 billion active Gmail users. Even if one of the smaller email providers, like Yahoo (200+ million active users) or Outlook.com (400 million active users,) it would increase the number of potential Bitcoin users by an order of magnitude. As of December 2018, it was estimated that with all altcoins combined, there was only 35 million total verified cryptocurrency users.

This was made possible by creating a new extension called Simplified Payment Protocol, which goes back to the original Bitcoin code for pay-to-ip. By using that original code, it allows a simplified wallet software that skips unnecessary network nodes and is delivered directly to recipients, with miners notified afterward.

Paymail also allows sharing public keys for digital signatures and encryption. This creates a data marketplace, where users can follow creators they appreciate and purchase their material.

With the announcement, Money Button has already fully implemented Paymail and launched the service. Paymail is interoperable with the Electrum SV and HandCash wallets.

To protect against bots sweeping in and grabbing all the best paymail usernames, getting your address will cost $1.00. If you can prove the name you want is undeniably yours with your social media presence, you can get a big discount and buy it for $0.10. At either price, getting your name is a bargain, and the pricing system will help make sure bad actors don’t ruin the system before it can get going.

Bitcoin Association Founding President Jimmy Nguyen commented: “Make it simple and they will come. Money Button and other Bitcoin Association members understand that, and we congratulate them for collaborating to create this outstanding achievement in simplicity. Paymail is another example of how BSV is the Bitcoin ecosystem most focused on global adoption by users and businesses.”