Eli Afram opines on the latest upgrade that Bitcoin SV has undergone to obtain six 2GB blocks mined in a row on the Testnet.
Simply put, what Bitcoin SV (BSV) can do today, no other blockchain or digital asset can. BSV stands alone as the only universal multi-purpose data ledger with an economic model that produces the ultimate in security. It’s time to revisit why we are here, and what we have achieved with Bitcoin SV so far.
With the ‘Quasar’ upgrade, Bitcoin SV stands at a default maximum 2GB capacity per block, and it signals strongly to businesses around the world: Bitcoin SV is ready. In February next year, the maximum cap on the node software is removed altogether.
On face value, this is a capacity increase that enables Bitcoin SV to match and exceed the likes of VISA and co. But holistically, this represents a major paradigm shift in the way Bitcoin is perceived to work by the eco-system of miners and businesses.
Dr. Craig Wright (certainly the creator of BSV) states that, “With the increase in capacity, bitcoin (BSV) becomes more useful for more parties. Not because of dogma but because of economic viability and value. The more people use bitcoin (BSV), the more valuable it becomes to the miners and the cheaper the transaction is becomes at the same time. It’s a virtuous circle.”
Calvin Ayre who leads the biggest mining operation on the network agrees – “This latest proof of the massive scaling available today on BSV will just speed up the application development as BSV will have gapped all competing technologies and will be the only choice for any application that needs low cost micro transactions. Original Bitcoin SV stands alone in the world today as a utility platform.”
By way of real life example, only very recently, we had a new Github like application created on the Metanet: CodeonChain which is an immutable, timestamped code repository that tracks all changes on-chain. Such applications are being built right now on the BSV chain. With Bitcoin SV we do not need to wait for promises of grandeur, because that promise exists today.
Jimmy Nguyen, Founding President of Bitcoin Association (the global industry organization which backs BSV), added: “Businesses in every industry can use the BSV blockchain to develop virtually any application they can imagine, right now.”
In less than one year of the BSV ticker’s existence, it has managed to overtake a majority number of top ten coins by market cap in transaction volume and is on track to overtake BTC volume in the very near future.
Bitcoin had it right in the beginning, and now we prove every day that BSV’s solid, foundational protocol is capable of delivering a new economic model for the entire world.