The Bitcoin Vision: Episode 23

Founding President of the Bitcoin Association Jimmy Nguyen brings us this week’s episode of the Bitcoin Vision from Siberia, Russia. Nguyen had the privilege of being one of the guest speakers at the recent Baikal Blockchain and Crypto Summit, where he educated the delegates about Bitcoin SV (BSV) and why it’s the only blockchain project that’s able to scale to meet enterprise needs.

The BSV community continues to prepare for the eagerly anticipated Genesis protocol upgrade set to take place in February 2020. Everyone in the BSV ecosystem will have a role to play in the upgrade — from miners, to developers, to wallets and exchanges. And to make it easier and more convenient to keep up with all the developments leading up to the upgrade, you can enable notifications directly to your email via a new feature on the Bitcoin SV website.

Nguyen also highlighted the recent developments by BSV/DEVS directory, the one-stop shop for all Bitcoin SV-related developer resources. It announced recently on Twitter that it is now supporting user accounts. Users can now claim any listing as theirs and also make any edits or updates as they deem fit. The directory also added support for file uploads, giving the users the ability to attach manuals, specifications and other related materials to their applications.

For the non-developers, there’s something for you as well. The OnChain BSV/MAPS feature is constantly being updated with new locations where BSV is accepted by merchants near you.

BSV Galaxy is a Bitcoin SV artists collective allowing members to find and collaborate with other members, as well as business development of artists projects. As the founders noted on the website, the platform seeks to “help you to use the Bitcoin SV Blockchain to create new tools, applications, and ultimately change the world into a better place using Proof of Work.”

For the week’s Satoshi shoutout, Nguyen applauded the Bitcoin SV Node Team. Lead developer Daniel Connolly recently wrote a blog post about how the BSV blockchain has proven itself as a reliable method of processing enormous numbers of transactions. The post was written to correct a false narrative that had been advanced by some crypto media sites that the Bitcoin SV blockchain had undergone a three-way fork after the Quasar protocol upgrade. The post puts to bed these allegations and clarifies that the BSV network is performing reliably and is still proving itself to be the superior blockchain project.

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

The Bitcoin Vision: Episode 22

In this week’s episode of the Bitcoin Vision, Bitcoin Association Founding President Jimmy Nguyen highlights some of the major developments in the Bitcoin SV ecosystem. Having successfully undergone the Quasar protocol upgrade, the Bitcoin SV ecosystem has rapidly continued to grow, with Jimmy looking at the return of OP_RETURN, CityOnChain and Operation Data Blast.

Nguyen begins by discussing the road to Genesis which is slated for February 2020 and the return of OP_RETURN. Citing a blog post by nChain CTO Steve Shadders on the road to Genesis, the Bitcoin Association Founding President urged all developers to familiarize themselves with what is required of them in the lead-up to the eagerly-anticipated network upgrade. App developers making use of OP_RETURN must ensure that their applications maintain consistent behavior now and after the Genesis upgrade.

“So this is a must-read article for any application developer building on Bitcoin SV,” he reiterates. It not only outlines the history of OP_RETURN, but also the easy steps that will ensure developers can continue to build on the only Bitcoin project that unlocks the true power of Bitcoin’s original protocol, design and Satoshi’s vision.

Next, Nguyen looked at Cityonchain, a new online information platform organized around cities, similar to Craigslist in the U.S. and in China. The platform allows localized functions such as job posts, trading of goods and even online dating. Users can claim ownership of a city and then manage it, earning BSV for their activities.

For the visitors, they can earn BSV for their high quality content such as reviews of local businesses. This helps encourage higher quality content online and fosters local interactions.

However, Cityonchain does more than that. It contributes to BSV’s new earn-and-use model which deviates from the traditional buy-and-hodl model. BSV users get to earn BSV by interacting with online applications which they can then use to make purchases or pay for services. This model is made possible by BSV’s mega blocks and its extremely low fees which facilitate micropayments.

For the week’s Satoshi Shoutout, Jimmy applauds the efforts of the team behind Operation Data Blast. With the recent Quasar protocol upgrade, the block size hard cap increased to 2GB. On July 28, some BSV enthusiasts conducted a user-activated stress test known as Operation Data Blast. They uploaded meaningful media such as video and audio files onto the BSV blockchain. The result was that over 2.5GB worth of data was uploaded and archived on the BSV blockchain. In four instances, the block sizes were over 250MB, a record for a public blockchain. The stress test proved that on-chain scaling is possible and sustainable on a public blockchain.

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