Teranode Teases Upcoming Upgrade of BSV Network to Enable Unbounded Scaling

The upgrade will allow miners to reach Gigabyte-sized blocks, unlocking some of the most powerful features of Bitcoin

LONDON, June 2, 2023 /PRNewswire/ -- Today, at the third and final day of the London Blockchain Conference, Jake Jones, Head of Network Infrastructure at the Bitcoin Association for BSV, discussed 'Teranode', a scalable Bitcoin node software. With the ultimate goal of creating unbounded scaling, Jones detailed the requirements for achievement, including deploying horizontal scaling and microservices.

Drawing parallels to the popularity of streaming but also consumer frustrations with having to subscribe to multiple platforms, Jones asked the audience, "What if streaming services were using blockchain? Currently, 80% of all internet traffic consists of video streaming. A world in which unbounded scaling-enabled blockchain technology is utilized for streaming would allow consumers to only pay for  the specific shows or movies they want, rather than having to subscribe to multiple platforms."

Interoperability was also discussed as one of the many benefits that results from unbounded scaling, which would allow a frictionless exchange between digital versions of currencies like the pound, yen and dollar.

And finally, Jones discussed the challenges of the current internet infrastructure. Specifically casting a light on the practices of large services like Amazon Web Services or Google, which store volumes of personal data, and thus are subject to cyber attacks (e.g. Equifax). With unbounded scaling, the BSV blockchain model would disincentive hackers from even attempting to steal one's information.

This was not the only news from the Bitcoin Association for BSV this week, as Connor Murray, Stewardship Director, and Martin Coxall, Marketing Director announced that the association has been granted stewardship of the Bitcoin protocol. Murray and Coxall noted that as stewards and the network authority, the Bitcoin Association for BSV will set out to build and maintain the core infrastructure as originally envisioned by Satoshi Nakamoto.

If you would like to interview any of the speaker/keynotes from the conference, please email: pr@lightningsharks.co.uk.  

About Bitcoin Association for BSV

Bitcoin Association for BSV is a non-profit association (Verein) in Switzerland and the global industry organisation which advances Bitcoin SV (BSV). It brings together enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others in the Bitcoin SV ecosystem. The Association supports Bitcoin SV as the original Bitcoin, with a stable protocol and massive scaling roadmap to becoming the world's new money and global blockchain for enterprise. The organisation seeks to build a regulation-friendly ecosystem that fosters lawful conduct while encouraging digital currency and blockchain innovation.

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