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Segwit Coin BTC launches new crime token sidechain

Segwit Coin BTC launches new crime token sidechain

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The Bitcoin Cash network underwent its planned hard fork upgrade on May 15, with a goal of implementing security and privacy features to the blockchain. Things, however, aren’t going as planned.

The protocol upgrade was activated on block 582680, but the network appeared to be stuck without new blocks produced for some time—it took approximately half an hour before the next block was produced. BitMEX Research pointed out a possible problem with the BCH hard fork, tweeting that “the number of txs per block is low (0 in the last 9 blocks, other than the coinbase txn).”

The BCH network had been processing only one transaction per block, essentially just the block reward, for the last 10 blocks until block 582697, in which it processed 89 transactions.

Source: Cash.Coin.Dance

BU developer Greg Griffith explained on Reddit that the glitch had been an ABC client issue, stating that “any miner who is mining with ABC is affected. If they are mining with BU [Bitcoin Unlimited] they don’t have the issue.”

The glitch, in which the BCH blocks did include any transactions except the Coinbase transaction, has caused the mempool to fill up. In fact, Reddit users pointed out that the mempool grew 10MB during the two hours that the network processed zero transactions per block.

In response, ABC developers are reportedly deploying a patch to solve the issue. Reddit user Ferriesta Patronum, a developer with Bitcoin Verde, explained that “there was a small bug in the mempool-acceptance rules for after the HF [hard fork] for reference-client-derived nodes.” Though no coins were in danger, the bug highlighted “the need for a more distributed codebase,” the developer stressed.

Still, the incident has prompted users to ask why such a major bug wasn’t caught before the release. To which Griffith answered: “Unfortunately tests do not cover 100% of the possibilities as much as developers might try to account for everything. Sometimes things are missed.”

This story will be updated as new information comes in.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

The gaming industry has been growing astronomically in the past decade, with one survey revealing that it generated $135 billion in 2018. However, much of the technology that was in use three decades ago still dominates the industry. Well, not anymore.

Kronoverse is an independent startup game development studio that develops its games on the blockchain. Its first offering is CryptoFights, a one-versus-one competitive fighting game. Players get to create their own characters and customize them. Once a player creates a character, that character exists on the Bitcoin SV blockchain.

And it’s not just the characters that exist on the blockchain. In an interview with esports and video game news outlet VGR, David Case, the studio’s backend architect explained:

“Every move that a player makes and every feedback from the server are recorded as blockchain transactions, and it actually builds a graph where each data points to the other states of the data, so you can kind of replay a whole battle by watching the graph.”

CryptoFights players get to enjoy many benefits that other players don’t. For one, all the gaming items exist on the blockchain and therefore, the players fully own these items. With the traditional gaming setup, one centralized entity has the ultimate authority over the entire gaming ecosystem. If it ever goes down, all the items you own within the game go down with it. Adam Kling, CEO of Kronoverse, explained, “Putting it on the blockchain kind of has this external decentralized party that no one owns, so that you will forever own that token or that game item.”

Kronoverse recently secured investment from technology entrepreneur Calvin Ayre. Chase explained just why the investment and partnership with Ayre, as well as the use of Bitcoin SV blockchain was a critical step for the startup.

He said, “They (Bitcoin SV) have kind of removed a number of the limits that are placed in the other forks, and so per transaction you can store up to 100 kilobytes of data, which means that in transactions on the network you can store some really interesting information, and you can build a much better graph of data where you’re pointing at data that’s stored at different places in the blockchain and so, you can really do some pretty advanced stuff. It couldn’t be done in the other Bitcoins (BTC and BCH).”

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Facebook may have been mum on the progress of its crypto project, but behind the scenes, the social media giant is busy putting together a formidable team. In the past few months, it has brought on board some highly influential figures in the crypto space. And now, two former compliance managers at Coinbase have also joined Facebook.

The first is Mikheil Moucharrafie who joins Facebook as a compliance officer for blockchain according to a CoinDesk report. Moucharrafie has been at Coinbase for close to four years, rising through the ranks to become the crypto exchange’s risk manager. He has previously worked as a support analyst, anti-money laundering (AML) investigator and compliance manager. He left the San Francisco-based exchange three weeks ago, having joined the firm in 2015.

Jeff Cartwright was the second one to make the shift from Coinbase to Facebook. Cartwright joined the company as its policy and compliance manager. Previously, he served as the director of regulatory risks and exams at Coinbase. Other roles he has held at the exchange include head of internal audit and AML procedures management. Prior to Coinbase, the University of Utah alumni has served as an AML consultant with KPMG, an AML compliance investigator with Goldman Sachs and compliance analyst with American Express.

When reached for comments, the two declined from revealing just how deeply involved they are going to be in Facebook’s crypto project. Facebook’s spokesperson also declined to reveal any information, telling CoinDesk that the company doesn’t comment on personnel matters.

Facebook has stepped up its efforts to launch its own cryptocurrency. New York Times reporter Nathaniel Popper recently revealed that the social media giant was seeking $1 billion from venture capital firms for its project.

Just days later, the Wall Street Journal reported that the company had begun to recruit financial firms and merchants as it geared up to launch its crypto project. According to WSJ, the project was code named Project Libra.

A week ago, Facebook received a trademark patent for Project Libra. According to some reports, Facebook had been trying to patent ‘Project Libra’ for a year before finally receiving the patent from the U.S. Patent and Trademark Office.

With over 2.5 billion active users on its platform, and 2 billion more on Instagram and WhatsApp, Facebook could introduce cryptos to a bigger market than any other platform currently exploring blockchain technology and its many use cases.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

The government of the German state of North Rhine-Westphalia (NRW) has announced its plans to establish a European blockchain institute. In a statement, NRW Economics Minister Andreas Pinkwart confirmed the European Blockchain Institute will be founded later this year in the city of Dortmund, inside the Fraunhofer Institute for Material Flow and Logistics (IML).

One major aim towards this new establishment is so that NRW can be able to help Europe “catch up” in blockchain achievements as it is way behind compared to other countries like the United States.

The economics minister also addressed the concerns raised by critics over the amount of energy consumed by Bitcoin mining, saying, “This technology can be safe, decentralized, affordable, and when used properly, not too energy-intensive.”

The blockchain institute is being established to further research blockchain technology. Also the new technology should make it possible to handle internet transactions faster and securely. The technology will also be able to record business to business transactions including contract, title deeds, licenses, monetary transactions or subscriptions, in “perpetual eternity.”

Germany’s blockchain ecosystem is quickly gaining mass adoption. In addition to the long list of blockchain development companies that have set up shop in Germany, the country’s justice and finance ministries recently proposed the launch of a state-run register to boost the use of blockchain technology. Germany’s Federal Ministry of Finance has also published a paper discussing the treatment and regulation of blockchain-based securities.

The document stated that regulation in the sphere could contribute to the development of the technology behind cryptocurrencies, along with improving Germany’s position in financial markets. The guidelines also proposed easing existing requirements, which assume that financial instruments must have tangible counterparts that can be purchased by investors.

More recently, the news went viral that Germany is looking to introduce new blockchain regulations in the near future. Having realised the incredible potential of the blockchain technology, the country is interested in issuing blockchain bonds to revolutionize the paper bond sector and pave the way for users to purchase digital tokens that could provide them with annual interest payments.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

There are all sorts of incidents where agencies arrest individuals due to the fact that they are pirating movies. However, it isn’t every day that U.S. authorities also find millions of cryptocurrency and cash as a result of a movie piracy investigation. The curious part about this particular case is that Paypal helped authorities with the case, Torrent Freak reported.

The investigation was jointly conducted by both Homeland Security Investigations (HSI) and the Motion Picture Association of America (MPAA). It has been ongoing since 2013, after Paypal tipped off the HSI to two streaming services by the name of “Noobroom.com” and “Noobroom7.com.” The owner of both websites reportedly had a diverse cryptocurrency portfolio, including Bitcoin Core (BTC), BCHABC, Litecoin (LTC), and Ethereum (ETH).

Paypal was able to assist in the investigation because the websites generated subscription revenue through Paypal and Stripe. The MPAA later found that the website was illegally distributing work, and sent a cease-and-desist letter to Noobroom and all associated websites.

Instead of complying with the letter, Noobroom emailed its customers that it would be moving to a new domain, “Superchillin.com.” This new domain was also linked to two new movie piracy portals. Both websites were managed by an individual by the name of Talon White. White allegedly took the money from both Paypal and Stripe and transferred it to his bank accounts, and, in the process, managed to rack up millions thanks to the subscription payments. Authorities said White received over $6 million in Stripe payments during the period of October 2017 to September 2018.

Court documents showed that White was quite bullish with respect to cryptocurrency, even withdrawing “$1 million…to purchase cryptocurrency through Coinbase, a virtual currency exchange.” A total of $4 million in White’s bank accounts was seized. Interestingly, $72,000 worth of LTC, which White purchased, was not seized.

A federal high court in Oregon is already reviewing the case. A court order has directed the Internal Revenue Service (IRS) to hold the funds until further notice.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Electronics giant Samsung has unveiled plans for the roll-out of cryptocurrency wallet technology in its latest generation of Galaxy smartphones, including budget models for the first time, Business Korea reported.

The plans come as part of a broader interest in blockchain technology and cryptocurrency, which the manufacturer said it would continue to expand across its smartphone product range.

The news follows the decision to include a cryptocurrency wallet in the latest Samsung Galaxy 10 model, a move which was widely credited with expanding the global reach of cryptocurrency payments.

With the same features set to be included on a broader range of its handsets, as well as budget models in the range, the move is expected to help blockchain technology reach an even more sizeable mainstream consumer audience.

Chae Won-cheol, senior managing director of the Product Strategy Team at Samsung Electronics’ Wireless Business Division, said the firm was planning to expand both the range of models available, and the countries in which those models will support the tech. He explained:

“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions. We will also expand our service target countries after Korea, the United States and Canada.”

The Galaxy S10 comes pre-loaded with the Samsung Blockchain Key Store, which allows users to store private keys, alongside the Samsung Blockchain Wallet app through which users can send, receive and store cryptocurrency with their device.

The firm is also set to cooperate with telecoms companies in South Korea, focusing on blockchain-based mobile ID cards and how local currencies can be integrated within its new blockchain platforms. Of its partnership with local telecoms firms, Samsung said it would next be focusing on more ways of implement the technology within its hardware.

“We will develop technologies for blockchain-based identification and local currencies by partnering with telecom operators,” Chae said.

Assuming Samsung continues with the roll-out of more preloaded blockchain and cryptocurrency-ready devices, millions of smartphone users worldwide could soon be introduced to the technology for the first time.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

It’s no secret that cryptocurrency has not turned into a global overnight success as an alternative to fiat. However, it’s important to remember two things. Prior to the meteoric rise of Bitcoin Core (BTC) in 2017, virtually no one had heard of crypto, making the advances seen in the past year and a half substantially more important. Additionally, it took the U.S. dollar 100 years to be accepted. Crypto as a currency is expected to be mainstream within the next five year. A new platform is available that might possible reduce that time to less than a year.

Payments startup Flexa has teamed up with Gemini to bring crypto capabilities to thousands of retailers instantly. The system works by integrating with the digital scanners used by retailers for phone-based payments—such as Apple Pay and Samsung Pay—to facilitate crypto payments.

Flexa’s solution is called Spedn and a consumer simply holds his or her crypto wallet to the scanner—the cashier doesn’t even notice how the payment is being sent. The merchant, however, has the ability to configure the system to either keep the crypto or convert it to cash. Based on reports by a number of beta testers, the payments are instantaneous.

Flexa is able to offer a real-time network to clear the transactions, which means merchants won’t have to worry about fluctuations in crypto prices. Gemini is involved by helping to facilitate those backend operations.

The devices are already being rolled out. They are find in Amazon-owned Whole Foods, Crate and Barrel and Nordstrom. They are also being installed in some GameStop and Baskin Robbins locations, as well as in Regal Cinemas.

Tyler Spalding, the CEO of Flexa, emphasizes how crypto is going to help merchants avoid the high costs associated with credit cards. A grocery store chain owned by Kroger has already dropped Visa because of the fees and there will be more merchants that consider the same as Visa and MasterCard prepare to increase their fees

The Spedn app is not limited to just the Gemini stablecoin—BTC, Bitcoin Cash (BCH) and Ether (ETH) are supported, as well. Tyler Winklevoss of Gemini states, “The idea of living on crypto is now a reality. You can now do it. For the consumer, it amounts to being crypto conscious. It’s like being green.”

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

With the recent problems of Bitfinex and Binance, it’s easy to lose trust in cryptocurrency exchanges. To help investors chose where they trade, crypto market data aggregator CoinGecko has now established a “trust score” system for exchanges.

Bobby Ong, the co-founder of CoinGecko, stated that there will be a variety of analytic methods to establish a fair picture of an exchange. The aggregator will take data from 10 “trustworthy” exchanges and also utilize online traffic analysis. The exchanges that are considered “trustworthy” will be determined according to a Bitwise report published in March, which determined that the vast majority of Bitcoin Core’s (BTC) volume was “fake.”

The median number of these 10 “trustworthy” exchanges will be considered the “benchmark” to establish the trust score. The trust score will work in this manner: if the volume is lower than this benchmark number, it will be considered fair. However, if the number is higher than this “benchmark,” then web traffic will be analyzed to determine whether the volume is fake or not.

Of course, that isn’t the only method that will be utilized towards determining the trust score. The exchange’s actual order books will be examined. Ong elaborated, “A thick order book will show that there is more liquidity for any trader to come in and buy/sell without much slippage or without affecting the price too much and is a relatively good indicator of liquidity (for now). A thin order book will show that there is no liquidity for any trader to trade meaningfully.” Ong is clear about the fact that exchanges with tighter spreads will be given a higher score, stating: “With Trust Score, the algorithm prioritizes exchanges with tight spread and deep depth rather than reported trading volume.”

Ultimately, every exchange examined will be given a score that will correspond to the three color codes found in a traffic light: red will indicate a “poor” trust score, yellow will indicate a “fair”score, and green will indicate a “good” score.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Malta is set to have the world’s first government agency fully run on blockchain. The blockchain island, as the country is now widely known, will have its Registry of Companies running on a blockchain system. As reported by local outlet The Malta Independent, the new system is expected to increase efficiency as well as reduce bureaucratic procedures that the citizens have to endure when registering companies.

The system was revealed last week when Sylvio Schembri, the Parliamentary Secretary for Financial Services, visited the agency. Schembri, who has been a vocal proponent for blockchain technology in Malta, was full of praises for the system. The system comes at a time when registrations for new companies have noted a 55% increase in just six years, he stated. Schembri added:

“Through an extensive investment in IT, the Registry of Companies will be more efficient and will lessen unnecessary bureaucratic procedures. It will be run by a system which will handle all of the processes performed by the Registry of Companies. The new system will make possible the provision of new services which with the present system are not being provided bringing the agency the first in the world to be run on a Blockchain based system.”

This isn’t the first time Malta is leading the world in blockchain adoption. As we reported in February, the country became the first in the world to store education certificates on the blockchain. The Maltese government partnered with Learning Machine, an edu-tech startup on the program.

Joseph Muscat, the country’s Prime Minister stated at the time that the initiative was in line with his promise of making Malta the blockchain hub. “In 2017, we said Malta will become the blockchain island, and it has,” he stated during the signing ceremony.

But while the majority have celebrated Malta’s brave blockchain initiatives, there have been those that have expressed concerns. One of these is the International Monetary Fund (IMF). The IMF cited money laundering and terror financing as some of the main threats that the country had exposed itself to through the adoption of cryptos and blockchain technology.

Part of the report by the global financial watchdog read:

“The increasing number of financial entities under supervision, the rapid development of new products, the evolving regulatory environment and the tightening of the labor market have put the Malta Financial Services Authority under considerable strain.”

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Businesses looking for an easy payment solution for their website have a new powerful option, with support for Bitcoin SV (BSV) baked in. Relay, the developers of the RelayX BSV superwallet, have announced their new payment solution, Relay One.

The announcement was made on May 9 in a Medium post. The new service is advertised as a “a simple button for online e-commerce, platforms, and independent sites.” It also features the ability for online merchants to accent local payments.

The new Relay One system will allow merchants to receive funds directly to their RelayX superwallet. Relay specifically worked on this new app as a way to broaden the options available to merchants. They wrote:

“Our long term vision is to empower everyone in the world to participate in the real-time global economy and a large step towards that is providing a method for merchants to open their stores to the world and for content creators to build a direct relationship with their audience.”

Relay will be accepting applications for companies that wish to participate in private testing. At launch, they promise support for BSV, WeChat Pay and Alipay.

The immediate response on social media has been positive. One user noted the progress this application will make towards global adoption.

This is a great new addition to the RelayX wallet, launched April 1 and noted to be “the world’s first mobile Superwallet.” That wallet allows users to spend BSV via Alipay, KakaoPay, Line Pay and WeChat Pay as well. Less than two months since its launch, it’s already seen significant use. The addition of Relay One as a merchant option will make it an even more powerful wallet for businesses and guarantee a solid use case for it going forward.

If you’re not familiar with the current offering of BSV wallets, or want to know more about the RelayX Superwallet, you can head on over to our wallet guide, where we dive into its current functionality and the plans the Relay team has for it going forward.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Bitcoin Cash’s (BCHABC) choice to continue pursuing protocol changes is already causing developers to split off. Bitcoin XT announced on May 7 they would no longer develop releases for BCHABC with the scheduled hard fork later this month.

While they support big blocks, and that was their original reason for moving to Bitcoin Cash, they feel the current strategy to hard fork the protocol at regular intervals. They wrote:

“Such a strategy allows for a majority implementation to effectively act as gatekeepers of determining the content of these scheduled forks and is anything but representative. The artificial deadlines are a centralizing and ultimately destabilizing force on development.”

Ultimately, they feel the patch BCHABC has taken is to give Bitcoin ABC an abundant amount of control over the decisions made for the entire network. They also feel the ABC team is using this advantage to lord their control over the community, rather than work with it. “With the governance strategy BCH had adopted, the advantage of multiple implementations is negligible,” they commented.

This type of dissent was a natural outcome of the path BCHABC has chosen. With an unstable protocol, regardless of the governance strategy the community decides on, there will inevitably be disagreements about the path of the token. They’ve chosen to continue tinkering with Bitcoin Cash, and now they are paying for it with an abandoned developer.

Looking at the opposite side of the November 2018 hard fork, Bitcoin SV (BSV)’s insistence on maintaining a stable protocol has paid off, with new businesses, enterprises, and developers all getting excited about the potential it holds. When they know their creations will last for years on a very stable platform, they can build with confidence.

More than that, BSV has committed to massive on-chain scaling, something BCHABC’s “big blocks” have yet to achieve in any meaningful sense. That gives enterprises the safety in knowing whatever they build can be built to grow, and won’t be constrained by artificial limits of small block sizes.

If you’d like to hear more about this scaling vision, come join the CoinGeek Toronto scaling conference. New developers will be showing off their applications, and the brightest minds of BSV will be discussing their plans for the future.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Liquid Network, the Blockstream solution that enables private Bitcoin Core (BTC) trading, has picked up a few new members. It also now allows its Liquid coin to be traded on several exchanges and, on the surface, appears to be the type of solution many crypto enthusiasts have been expecting. However, there are a couple of things that stand out that cause red flags to be raised by those who see past the smoke and mirrors.

The Liquid Network is essentially nothing more than a crime-driven side chain. It allows for private, untraceable transactions, which goes against the foundation of Bitcoin, and is determined to fail under regulatory scrutiny.

In addition, Blockstream itself has been working since its inception to redevelop Bitcoin, asserting that it was broken and needed to be fixed. If Blockstream’s founders didn’t believe that Bitcoin was relevant, they shouldn’t have built a solution they tied directly to Bitcoin. The organization has been constantly trying to control how Bitcoin was developed, regardless of community input. 

Both the Liquid Network and the Lightning Network, upon which the Liquid Network was based, are meant to facilitate transactions on the Bitcoin Core (BTC) network. However, in order to do this, they take a portion of the transaction’s history and move it off the blockchain. The solutions were reportedly created because on-chain scaling was not possible, according to BTC developers, but the result is a break in the continuity of all BTC transactions that use the solutions.

The argument that on-chain scaling wasn’t possible at large levels is a slap in the face to Satoshi Nakamoto and is also completely erroneous. The Bitcoin founder asserted in his white paper that high-volume scaling was very possible, and this has already been proven by Bitcoin SV (BSV). BSV is Bitcoin and is the only digital currency platform that adheres to the guidelines and protocols established by Satoshi. 

For those interested in learning more about BSV, or understanding the important role BSV has in defining BTC, CoinGeek welcomes you to this month’s CoinGeek Conference. The event will be held in Toronto on May 29-30 and will see participation by some of the world leaders in blockchains, scaling and digital currencies. It will be an awesome opportunity to get the inside scoop on where digital currencies and blockchains are headed and why BSV is poised to lead the way as the original Bitcoin. 

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Source from : coingeek
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