Teranode teases upcoming BSV network upgrade to enable unlimited scaling

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

London, UK, Friday 2 June 2023 – Today, on 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 unlimited scaling, Jones detailed the requirements for achieving it, 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 used blockchain? Currently, 80% of all internet traffic consists of video streaming. A world where unlimited scaling-enabled blockchain technology is used for streaming will allow consumers to pay only 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 of unlimited scaling, which would allow a frictionless exchange between digital versions of currencies such as the pound, yen and dollar.

And finally, Jones discussed the challenges of today’s internet infrastructure. Specifically, to shed light on the practices of large services such as Amazon Web Services or Google, which store large amounts of personal data, and are thus exposed to cyber attacks (e.g. Equifax). With unlimited scaling, the BSV blockchain model would prevent hackers from trying to steal one’s information.

This was not the only Bitcoin Association news for BSV this week, as Connor Murray, Stewardship Director, and Martin Coxall, Marketing Director announced that the association has been given stewardship of the Bitcoin protocol. Murray and Coxall noted that as the custodians and 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 speakers/keynotes from the conference, please send an email to: [email protected].

About the Bitcoin Association for BSV

The Bitcoin Association for BSV is a non-profit association (Verein) in Switzerland and the global industry organization promoting Bitcoin SV (BSV). It brings together businesses, startups, 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 become the world’s new money and global enterprise blockchain. The organization seeks to build a regulatory-friendly ecosystem that promotes lawful behavior while encouraging digital currency and blockchain innovation.

About the London Blockchain Conference:

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At the London Blockchain Conference, we show how BSV Blockchain will change the world and help people see a different way of managing data, building scalable on-chain solutions and achieving great things. We do this by creating valuable, insightful and engaging events that educate and inform, so you can connect and network to build strong business relationships. Our conference is the best way to see blockchain innovations, major ecosystem announcements, new product launches, technology updates, keynotes, panels and fireside chats from blockchain leaders. Join us and experience it for yourself.

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