Overhauling ‘arcane’ finance sector with Bitcoin SV-powered DRIVE Pay

Overhauling ‘arcane’ finance sector with Bitcoin SV-powered DRIVE Pay

Yet another business has chosen to build its enterprise product on Bitcoin SV (BSV), the only project that follows Bitcoin’s original design and protocol. DRIVE Markets is an institutional cryptocurrency exchange that launched several weeks ago, with a goal of attracting foreign exchange traders to the crypto markets.

DRIVE Markets is the first product rolled out by financial services company DRIVE as part of its multi-product approach to overhaul “the most arcane areas of the financial industry,” founder and CEO Kate Hiscox said in a new interview. Markets will provide the key infrastructure for DRIVE’s soon-to-launch services: DRIVE Pay, which targets cross border clearing and settlement; and DRIVE Banking, which promises to be a “business banking game-changer.”

“With Markets, we saw an opportunity to bring FX traders to the crypto markets by providing the tools and high-frequency trading capabilities they’re familiar with. FX trades $5 trillion daily and we’re set on bringing some of that volume to crypto,” Hiscox said. “As a business, DRIVE Markets has huge potential but we felt there were further opportunities to leverage our FX and CX capabilities across other products.”

To entice the $5 trillion forex market, DRIVE Markets has partnered with forex giants like First Derivatives and MetaTrader. The company has also secured an undisclosed investment from entrepreneur Calvin Ayre, founder of Ayre Group and one of the biggest supporters of BSV, for DRIVE Pay.

DRIVE Pay, according to the executive, is a multi-protocol, real-time remittance and gross settlement network for crypto and fiat currencies. The platform will run on the BSV blockchain, which will act as the anchoring ledger for the payments network, while the BSV crypto will be used as an intermediary currency to enable liquidity.

Bitcoin SV is the perfect fit for DRIVE Pay, particularly since the BSV network has the scaling plan needed to support not just global payment networks, but other enterprises as well. Hiscox explains:

“We looked at existing blockchain networks in terms of capability and token characteristics and the Bitcoin SV teams (including nChain) impressed us with their roadmap for massive scaling of the BSV blockchain, enterprise-first approach, and regulation-friendly mindset. They also understand that in order for big business to adopt a solution, you have to meet certain expectations and service level agreements. The Bitcoin SV blockchain will be used by DRIVE Pay for our ledger specific requirements and BSV will be used as a bridge currency, similar to XRP.”

The DRIVE team will be on hand at the upcoming CoinGeek Toronto scaling conference on May 29-30 at the Carlu to talk about DRIVE Pay. If you want to know more about DRIVE’s products and services and why they chose BSV, there’s still time to register for the event, and you can get a discount if you pay with Bitcoin SV via Coingate.

The Bitcoin Vision: Episode 12

The Bitcoin Vision: Episode 12

Founding President of the Bitcoin Association Jimmy Nguyen is back this week for another episode of The Bitcoin Vision, this time shot in Amsterdam—a city that supports Bitcoin. It’s the perfect place to bring us the latest developments with the Bitcoin SV ecosystem.

Kicking off the episode is some scaling news. Bitcoin SV, after all, is all about massive, on-chain scaling. Recently, the Bitcoin Association announced that the BSV Scaling Test Network (STN) is now open and ready for business. Enterprises and developers who want to test Bitcoin’s scaling limits for their applications and services can now use the STN, and contribute to the future of the BSV blockchain. Learn more about it here.

LINK, meanwhile, is a new privacy tool created by Twitter user @BitcoinSofia that allows users to store encrypted information, such as an encrypted backup of one’s wallet, on the BSV blockchain. Users upload encrypted data on the BSV blockchain, yet it is unreadable to anyone without the key. The decryption key is never sent to the server. Check out LINK.

Building BSV apps is now much easier, thanks to BitIndex, which has just launched the latest version of its real-time Bitcoin SV API platform built for developers. New features include Webhooks for Bitcoin payments, insight-API compatibility, new JavaScript-SDK and can easily be used in browser or node run-time. Visit BitIndex here.

The number of new businesses that have started accepting BSV continues to grow. The latest merchants to support BSV include Cafetaria De Spoorbrug in the Netherlands; Zumba with Rushka in Port Elizabeth, South Africa; Howzat Sports bar in Makati, Philippines; and Café Aimee in the Netherlands. To check out which merchants near you have integrated BSV support, visit bsvdevs.com and bsvmerchants.com.

This week’s Satoshi shout-out goes to Twitter user @Street5Wall, who has taken the initiative to sponsor BSV developers to attend the CoinGeek Toronto conference’s Developer Day. With support from @SatoshiEngineer, @Street5Wall sponsored 13 developers, by contributing $500 towards costs for each of them to attend the event. This generous way of supporting Bitcoin SV helps the future of Bitcoin grow by helping developers who will build on the original Bitcoin.

Nguyen notes, “In addition to contributing to the cause of developers attending CoinGeek Toronto, WallStreet5 has also donated 100 BSV coins towards the prize pool of the Bitcoin Association’s first ever BSV hackathon. That’s amazing.”

Watch The Bitcoin Vision: Episode 12.

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

Jack Liu’s BSV-based Float SV to deliver ‘real asset exchange experience’

Jack Liu’s BSV-based Float SV to deliver ‘real asset exchange experience’

A month after leaving his job at Circle to fulfill the vision he sees for Bitcoin, Jack Liu is back—with a new superwallet and a cryptocurrency exchange based on Bitcoin SV (BSV).

Liu announced over the weekend that he has teamed up with cryptocurrency exchange OKEx to roll out Float SV, a BSV exchange built on top of OKEx’s white-label solution OKNodes Program. On Twitter, Liu explained: “#FloatSV will resemble @OKEx interface at first, but over time, we will introduce many UX experiences.

The Float SV exchange will launch in April, but Liu noted, “…the exact timing will be adjusted forward if any major exchange delists Bitcoin (SV).”

Promising “real asset exchange experience,” Float SV will only list blockchains that runs Proof of Work SHA-256 and real assets such as commodities and currencies. This means no native tokens, no securities, and no security token offerings (STOs) on the platform. Part of Float SV’s exchange revenues will be reinvested into PoW, according to Liu.

This partnership with OKEx, according to Liu, brings his career to full circle. Liu, who previously served as chief strategy officer at OKEx, now returns as a partner and will leverage the crypto exchange giant’s technology as he works to bring “his own taste and values to the surface.”

“I have learned more from Star [Xu] than can be explained, and it is great to be back leveraging OK’s trusted and scalable exchange infrastructure with which I am very familiar with. Float SV can count on OK’s track record of being a neutral technology platform,” Liu wrote in a Medium post. Star Xu is the founder and chief executive of OK Group.

The announcement comes on the heels of the beta launch of Liu’s non-custodial wallet, RelayX, last April 1 in Argentina. Coined a “the world’s first mobile Superwallet,” RelayX promises to deliver a seamless payment experience around the world by supporting interoperable sends and receives over WeChat Pay, Alipay, and Kakao pay, with Line Pay and more to follow. The company explained:

“RelayX users will be able to spend their local currency denominated Bitcoin (SV) balance over Alipay and WeChat by simply scanning the receive QR Codes. Relay’s network of earners will process payments similar to how miners process transactions.”

Jack Liu’s BSV-based Float SV to deliver ‘real asset exchange experience’

Cross-platform transactions are limited to $100 during the beta launch period, with no fees involved. Since its launch, RelayX said it has already processed more than 500 on-chain transactions, including more than 200 cross-platform transactions. The company has also partnered with South Korean blockchain giant Coinplug, which will provide localized support allowing RelayX to connect with the Korean market.

RelayX is available today in beta on Android.

The Bitcoin Vision: Episode 9

The Bitcoin Vision: Episode 9

Founding President of the Bitcoin Association Jimmy Nguyen is back on the road again, and this week, he’s updating us on the latest developments in the Bitcoin SV (BSV) ecosystem from Jamaica. The Caribbean island nation was an appropriate place to talk about the Bitcoin Vision, given that Nguyen was in the area for an event called the Visionary Summit, in which he shared the story of BSV, and how it is truly restoring the Satoshi Vision for Bitcoin, with leaders in private enterprise, government and academia.

The BSV ecosystem remains abuzz with the business of scaling. After all, it was only recently that the network saw its record-breaking blocks: On March 28, 113MB block were mined on BSV, followed by the first 128MB block mined by nChain’s BMG Pool two days later on March 30. More big blocks followed, and yet another 128MB block was mined by CoinGeek Mining on March 31.

Ryan X. Charles and the Money Button team get a lot of credit for these record-breaking blocks. The BitPaste app and Money Button allowed Ryan to fill three of these record-setting blocks with high-resolution pictures of San Francisco, uploading transactions using tools already available to the public.

The large block sizes are already big news for the network, but even more so for the miners. The 128MB blocks delivered transaction fees for the successful miner of 1.279 BSV, which is another 10+% of miner revenue on top of the normal 12.5 BSV block reward. Nguyen explains:

“The greater transaction fees that were earned on this big blocks is demonstrating the economics of Satoshi Vision at work. Satoshi always envisioned that as the block reward continually cut in half, miners have to earn more in transaction fees with greater transaction fee volumes to make up for the lost block reward and to continue to have mining state profitable. This is why we need blocks to continually get bigger and bigger to massive sizes so that the blocks can fit larger amounts of data, varied types of transactions such as the file uploads you’ve been seeing, payment transactions of course, smart contracts, tokens, internet of things, device communications management, and a whole array of other types of transactions you can do on BSV.”

Still on the mining news, the BSV network has also welcomed a new mining group—Kpool. The mining pool has quickly contributed significant hash to the network, quickly becoming one of the top three mining groups on BSV. The network is always happy to welcome more mining pools and groups, so if you believe in the Satoshi Vision, come mine on BSV today.

On the applications and services front, a new BSV protocol—D://Protocol—has been added to the BSV/DEVS directory. This dynamic Bitcoin protocol allows users to update content on the BSV chain by using D:// instead of B://. Check it out here.

Another win for Bitcoin SV is the launch of The White Wallet by The White Company. This is the first wallet that lets customers pay for their Amazon, Uber, Steam, and iTunes purchases with BSV. The White Wallet also allows cash withdrawals and use of prepaid Visa and Mastercard in 10 fiat currencies. Learn more about The White Wallet here.

This week’s Satoshi shoutout goes to the Centbee team, which has set a precedent for real BSV adoption in South Africa. Using a digital voucher program and Centbee wallet, users in South Africa can now easily buy Bitcoin SV at many major retailers with fiat, cash or credit card. Currently, there are already 50,000 locations participating, including Pick N Pay, gas stations, malls, liquor stores, and even Absa Bank.

Watch The Bitcoin Vision: Episode 9.

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

https://coingeek.com/bitcoin-sv-ready-worlds-business/

Jimmy Nguyen: Don’t focus on ticker, but on Bitcoin’s underlying technology

As the popularity of cryptocurrency grows, particularly in the online gambling sector, there is a need to clear up some of the confusion surrounding cryptocurrency, blockchain, and Bitcoin. Specifically, why are there three Bitcoins in existence today?

Jimmy Nguyen, founding president of the Bitcoin Association, recently joined Gambling911 founder Christopher Costigan in Miami to talk about cryptocurrency—Bitcoin SV in particular. Right off the bat, Costigan wanted clear up the confusion of having three Bitcoins—Bitcoin Core (BTC), Bitcoin Cash (BCHABC), and Bitcoin SV (BSV)—circulating today, describing it as “the most confusing thing in the world.”

The Bitcoin Association is the leading industry group for Bitcoin business, bringing together merchants, exchanges, application developers, enterprises, miners and others in the Bitcoin ecosystem. It supports BSV as the rebirth of the original Bitcoin. SV stands for Satoshi Vision, and BSV is the only project that adheres to the original design protocol and vision expressed by Satoshi Nakamoto. Yes, BTC had the first-mover advantage, but it’s no longer Bitcoin after the Core team introduced Segregated Witness, which forever changed what Bitcoin was. Nguyen points out:

“I recognize that it’s confusing for users and consumers, and I wish we were not in this position. I wish we were in the position that there was only a single Bitcoin. The problem is because Bitcoin is an open source system, anyone can do what we call fork the code. They can just copy the code and continue their own chain and call themselves some Bitcoin variant. Even if they make fundamental changes to what Bitcoin is, they’re really not entitled to the Bitcoin name anymore. And there’s nobody to tell them no, and that’s a frustration I think we have and it is reflected in how the market reacts because BTC has a higher market price because people think that’s still Bitcoin.”

At the end of the day, BSV is focused on massive, on-chain scaling. Recently, record-setting 128MB blocks were mined on the BSV blockchain. BSV’s 128MB block cap is already far bigger than BTC’s 1MB and BCHABC’s 32MB, but BSV isn’t stopping there: later this year, the network will scale to 512MB, followed by 1 or 2GB by the end of the year or early 2020, and to one day having no cap at all.

But what does this mean for gambling operators?

The 128MB blocks mined on the BSV chain, according to Nguyen, demonstrates that the network is not just a payment system—it can also be a data carrier network and a whole commodity ledger that powers all kinds of data transactions.

He explained: “It means you can rely on the [BSV] blockchain to process fast transactions, they get processed instantly as opposed to waiting 15 hours, for really cheap, where the transactions fee is a penny or less, and you can do tokens because a lot of gaming companies are looking at trying to create their tokens, they want to create things like smart contracts with gamers and try these more advanced functions that a blockchain allows because a blockchain, all it is an underlying technology platform and for gaming companies that offer all kinds of opportunities.”

Listen to the Gambling911 podcast with Jimmy Nguyen here.

You can also catch Jimmy and other global experts in the blockchain and cryptocurrency space at the CoinGeek Toronto scaling conference, taking place at The Carlu on May 29-30. It’s easy to register, and use the world’s new money to register, and get a discount, by using Bitcoin SV via Coingate.

The Bitcoin Vision: Episode 8

The Bitcoin Vision: Episode 8

As always, there’s so much happening in the Bitcoin SV (BSV) ecosystem. This week, Founding President of the Bitcoin Association Jimmy Nguyen returns to give us updates on developments with BSV, the rebirth of the original Bitcoin—finally unlocking the true power of Bitcoin’s original design, protocol and vision.

The BSV chain on its mainnet recently hit a milestone by having five consecutive days of daily average block sizes that were larger than that of the Bitcoin Core (BTC) chain and Bitcoin Cash (BCHABC). Due to the increased file size enabled by Money Button applications and Bico.Media, BSV has seen even bigger blocks coming to the chain. On March 28, there’s a 113MB block, which, at the time, was a world record until a day later when the network saw a 128MB block mined on March 29, and then again on the 30th.

The 128MB blocks resulted in transaction fees of 1.27 to 1.30 BSV, showing that sustained big blocks through data sizes are enabling miners to earn more revenues. Nguyen noted, “This is Satoshi Vision at work, proving that Bitcoin SV is on the right path to massive, on-chain scaling.”

Meanwhile, due to clear demand for BSV, more exchanges are listing the coin. Equicex exchange recently added BSV to its over 300 cryptocurrencies and 30,000 trading pairs. Equicex also offers a physical Visa card and a virtual prepaid card, which can be used with BSV.

Cryptofacil has also listed BSV and has four BSV trading pairs. The exchange targets mostly Latin American and Caribbean customer market to provide a reliable, fast and secure platform to trade cryptocurrencies, now including BSV.

For enterprises looking for detailed financial information on BSV, the Intercontinental Exchange, the company behind NASDAQ, has launched a cryptocurrency data feed with BSV among the over 60 covered digital assets. Their real-time feed will provide access to a wide range of information gathered from over 600 leading venues, marketplaces and exchanges across the globe.

“It’s a great sign that Bitcoin SV is being treated as a serious digital asset and growing up and professionalizing,” Nguyen said.

On the development side, Unwriter delivered yet another big one—Bottle, the world’s first Bitcoin browser. Bottle allows users to easily search for and discover anything and everything saved on the BSV chain. For Chrome users, Twitter user @World_Languages has released a Bottle for Chrome extension that works with the browser.

As Nguyen points out, “Bottle is a significant step towards the concept of the Metanet. Soon, Bitcoin will power and subsume the whole internet, and Bottle is a key step into being able to see and search for things in that new reality.”

Since the data size limit in the OP_RETURN field has been lifted on BSV, users have been coming up with creative ways to upload larger files to the blockchain. That process is getting easier thanks to the text and file sharing app Bitpaste.

Meanwhile, Twitter users @wildsatchmo and @AttilaAros have created a new system called Magic Attribute Protocol (AMP). It’s a simple OP_RETURN protocol for linking data in a single Bitcoin transaction, essentially built to chain together other OP_RETURN microprotocols. AMP links data on the BSV blockchain to provide more information and more possibilities for applications. Learn more about it here.

This week’s Satoshi shoutout goes to online service marketplace FiveBucks, which recently announced that it was integrating Cashport. This allows FiveBucks to easily onboard and improve user experience for paying with BSV.

“FiveBucks has been instrumental in demonstrating real-world usage on BSV as cash. Now it’s shown that you can work with other companies in the BSV ecosystem such as HandCash and use each other’s tools and applications to help achieve the Satoshi Vision more globally,” Nguyen said.

Watch The Bitcoin Vision: Episode 8.

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

big-blocks-organic-growth-and-bitcoin-sv

Big blocks, organic growth and Bitcoin SV

It wasn’t long ago when Bitcoin ABC claimed that big blocks could not be reliably done and would only cause insecurity and instability—at least for the Bitcoin Cash network. But with only five months after it rebirthed the original Bitcoin as envisioned by Satoshi Nakamoto, Bitcoin SV (BSV) is proving that yes, massive on-chain scaling is possible. And now that Bitcoin’s true power is finally unleashed, a more efficient digital currency network and commodity data ledger are providing possibilities the world has been waiting for.

This past week marked another milestone for BSV, as the network proves that with on-chain scaling, organic growth is very much achievable. On March 31, a 128MB block was mined by CoinGeek Mining. 128MB is the current default block cap set on BSV, so this world-record setting block completely filled the current maximum. The block contained large data files (high-resolution pictures) uploaded using the “BitPaste” multi-swipe application, which makes it easy for users to upload large files with quick swipes of the Money Button

This is the second time a block that size was mined on the BSV network. Just a day earlier, on March 30, another 128MB block was mined by nChain’s BMG Pool.

Both 128MB blocks generated transaction fees for the successful miner of 1.279 BSV, thus another 10+% of miner revenue on top of the normal 12.5 BSV block reward. This is worth noting, because it demonstrates how massive on-chain scaling allows more transactions (of differing data types and thus differing fee levels) in a block, which, in turn, results in greater total transaction fees for the miner on top of the pre-set block reward. Bitcoin block rewards halve every four years, and happens again next year as the block reward reduces from 12.5 to only 6.25 coins. Therefore, Bitcoin’s economic model requires miners to progressively earn more in transaction fees to make up for the continually-reducing block reward value, in order to mining to remain profitable and miners to continue sustaining the network. That only happens with bigger blocks and massive on-chain scaling—as now demonstrated by the BSV network—to ensure Bitcoin’s long-term success.

big-blocks-organic-growth-and-bitcoin-sv2

The Bitcoin Core (BTC) network also mined its largest block to date: a 2.3MB block on March 11, which accounted for only 199 transactions. BTC, however, continues to prove that it’s not ready for mass adoption anytime soon with upwards of 60,000 transactions sitting unconfirmed for many hours in the network’s “mempool,” resulting in daily average transaction fees to soar from $0.47 to $1.83 (and to $2.13 as of time of this writing).  Fingers crossed that the fees don’t reach the 2017 level of $200,000 in transaction fees for a single block with only 2335 transactions, meaning an average fee of $85.65 per transaction in that block.

For BCHABC, the largest block mined to date was 4.6MB on December 18, 2018. The original Bitcoin Cash (BCH) chain no longer exists after the November 2018 hard fork event, so the bigger blocks on BCH that were mined prior to the fork cannot be counted. And the biggest 32MB blocks ever mined on the prior BCH chain were mined using the Bitcoin SV implementation anyway.

Rounding off the list of the three main networks that evolved from the original Bitcoin is Litecoin (LTC), which mined its largest block—a measly 1.50MB—on October 17, 2018.

So what does this tell us, other than big blocks are becoming an everyday affair for BSV?

It’s simple: with BSV staying true to Bitcoin’s original roadmap for massive, secure on-chain scaling, there has been an explosion of growth and user creativity—all organic—within the ecosystem. It’s just what nChain Chief Scientist Dr. Craig Wright has predicted, that scaling has to come first. Create the space, and application developers and users will flow in to fill it.

This is what is happening right now with BSV. BitPaste, Bitstagram, Bico.media, BitcoinFiles.org, Unwriter’s Bottle BSV blockchain browser, and the parallel swipe Money Button are all examples of developers coming to build on the BSV network. They are building on BSV because of the stability it provides, the limitless on-chain scaling it offers, and its regulation-friendly mindset. As Steve Shadders, director of solutions and engineering at nChain and the Bitcoin SV Node team’s technical director puts it:

“Good ideas that have previously been shelved because they needed capacity are being dusted off. The new possibilities of a scalable Bitcoin are also starting to seep into the collective consciousness of Bitcoin app developer communities and we are seeing an explosion of creativity.”

Come celebrate the renewed life of Bitcoin, and all the developments happening with Bitcoin SV, with all the world leaders in on-chain scaling at the CoinGeek Toronto conference this May. It’s easy to register. And pay with the world’s new money and you’ll receive a discount by using Bitcoin SV via Coingate.

The Bitcoin Vision: Episode 6

The Bitcoin Vision: Episode 6

A laid back Founding President of the Bitcoin Association Jimmy Nguyen brings us this week’s edition of the Bitcoin Vision. But don’t let his demeanor fool you—the excitement continues to build in the Bitcoin SV (BSV) ecosystem as more developments are being rolled out on the Bitcoin blockchain.

This week, we dig into the latest scaling developments from the Bitcoin SV node team, Bitgraph, the new Python BSV wallet SDK, a developer documentation series from the Money Button team, and the latest Wright Vision from nChain Chief Scientist Dr. Craig Wright.

“It’s amazing to see how rapidly this ecosystem is growing as people around the world collaborate to create the world’s new money and global enterprise blockchain,” Nguyen said.

The big news on the Bitcoin SV Scaling Test Network (STN) is the successful test of continuous 128MB blocks over a period of 36 hours. The rest ran from midday on March 7 to midnight of March 8, producing 246 blocks of 128MB in size. The blocks, according to BSV Node lead developer Daniel Connolly, contained 89 million transactions with an average size of 354 bytes each, which is equivalent to 700 direct cash transactions per second over the entire test period.

These results are on a test network for now, but lay important groundwork for future testing on the BSV mainnet to achieve similar results. 

Meanwhile, recent reporting from Coin.dance showed the steady growth of BSV block sizes since OP_RETURN data size limits were lifted.  BSV daily average block sizes surpassed BCHABC two weeks ago, and are catching up to BTC fast.

Speaking of OP_RETURN, the WhatsOnChain team has been tracking statistics about use of the OP_RETURN field, now that it has an increased data size limit. This means that you can now search OP_RETURN transactions and see what services are using OP_RETURN. Check it out here.

Moving on to Bitcoin applications, Bitcoin developer Unwriter recently introduced Bitgraph, an interactive visual graph explorer for Bitcoin. This tool allows users to navigate the entire Bitcoin transaction graph, all the way back to the genesis block.

There’s also the impressive new Pythonbsv wallet SDK and a general Bitcoin SV library. It’s the latest Bitcoin SV project to be added to the BSV/DEVS directory. It features Python’s fastest available implementation, 100x faster than closest library.

Speaking of BSV developer tools, Ryan X. Charles and the Money Button team. Money Button have created a documentation series that details everything you need to know to build apps on Bitcoin SV, with or without Money Button. The first three they rolled out were on Big Numbers, points, and hash functions–another example of the BSV community’s commitment to support the growth of BSV, and show that Bitcoin SV is the clear choice for enterprise adoption.

For this week’s the Wright Vision, nChain Chief Scientist Dr. Craig Wright wrote about “Profiting from Privacy – Social Media Platforms.” He outlines the problems that sites like Facebook and Reddit have with their outdated business model of selling user data as a monetizing strategy.

Watch The Bitcoin Vision: Episode 6.

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

First ever Bitcoin SV hackathon goes big with 400 BSV prize pool

First ever Bitcoin SV hackathon goes big with 400 BSV prize pool

How do you enable the world’s new money and global enterprise blockchain? Run a hackathon, that’s how.

This May, the Bitcoin Association—the leading industry group for Bitcoin business—is hosting the first ever Bitcoin SV (BSV) hackathon to encourage developers around the world to build on BSV and unleash the true power of Bitcoin’s original design, protocol and Satoshi Vision. The hackathon is run by nChain and sponsored by CoinGeek.

The hackathon will be virtual so anyone can participate from anywhere in the world. It will take place on May 4 and 5, with participation periods to run according to the based upon GMT timezone.

Three finalists will be selected in the virtual hackathon, and a representative from each team will fly to Toronto, Canada, to present their BSV-powered solutions at the CoinGeek Toronto Conference on May 30. A panel of judges and the conference attendees will select the winner.

The first place winner will go home with 250 BSV, followed by 100 BSV for the second placer, and 50 BSV for the third place winner. All three finalists will have the opportunity to be considered for investment funds.

Registration for the BSV virtual hackathon will open soon. Pre-register here.

The first ever BSV virtual hackathon is a lead up to the CoinGeek Toronto conference, a two-day cryptocurrency event at the historic The Carlu on May 29-30.

The CoinGeek Toronto conference is the third installment of CoinGeek’s headline events. Like the first two CoinGeek conferences, the Toronto summit will feature experts in the blockchain and cryptocurrency space. The event’s overall theme is “Bitcoin SV: No Limits,” with a focus on massive on-chain scaling and the technological power of Bitcoin SV. It’s worth noting, however, that though focused on BSV, the CoinGeek conference environment incorporates speakers who also work with other cryptocurrencies and blockchains, and also welcomes anyone interested in learning about BSV.

A “Developers Day” will be held on May 29, focusing on more technical issues for BSV. The main conference will take place on May 30. Sessions will cover topics such as, scaling and technical developments of BSV, how merchants can accept payment with BSV, The Metanet, nChain’s ground-breaking project to power and integrate the Internet through the BSV blockchain, tokenization with BSV, enterprise application on the BSV blockchain, and a discussion of a Bitcoin future finally with “No Limits,” among others.

To learn more about the CoinGeek Toronto conference, visit the official CoinGeek Conference website.

The Bitcoin Vision: Episode 5

The Bitcoin Vision: Episode 5

Every week is a big week for Bitcoin SV (BSV), the rebirth of the original Bitcoin. This week’s episode of The Bitcoin Vision brings us new updates in the developments of the ecosystem as BSV finally unleashes the true power of Bitcoin’s original design, protocol and Satoshi Vision. As always, there are so many rapid developments happening in the BSV ecosystem—from the Bitcoin SV Node security audit, Bitstagram, Memo SV, GOURL, and the latest with the ElectrumSV wallet.

Late last year, the Bitcoin SV implementation team engaged U.S. security firm Trail of Bits to conduct a security audit of the Bitcoin SV node software. According to the Founding President of the Bitcoin Association Jimmy Nguyen, “We believe this is the first time any Bitcoin node software has been comprehensively reviewed in a security audit.”

There were 15 issues identified, three of which were denial of service-type attacks. These are typically medium risk, but they were given a high-risk rating due to their low security barrier to exploit. It’s worth nothing that the Bitcoin SV team was not responsible for creating those vulnerabilities, but believes the vulnerabilities were inherited from the Bitcoin Core and Bitcoin ABC softwares. The Bitcoin SV team disclosed these vulnerabilities to the Bitcoin Core, Bitcoin Unlimited, Bitcoin ABC and Bitcoin XT teams in January, and patched the vulnerabilities in the February release of the node version 0.1.1. Read more about it here.

Nguyen said the professional approach to network security goes to show that Bitcoin SV is the most reliable option for enterprise adoption.

Speaking of adoption, Twitter user cryptoguzzle recently created a chart showing real world usage on the BSV chain is starting to accelerate since the OP_RETURN data size limit was raised. This is just the start, Nguyen said, as the network is expected to grow even more when enterprises adopt BSV as their new data carrier network.

The chart spiked in part because of the new BSV app, Bitstagram. The world’s first Bitcoin Native photo app, introduced by prolific developer Unwriter, lets you take a photo on your mobile phone and upload to the BSV Blockchain for a tiny fee. Check out what people have been uploading here.

And have you seen the new Memo? The blockchain powered social network and identity system, built entirely on Bitcoin SV, has found a new home at memo.sv. It still has all the same great features it’s always had, but now at an address that fits its BSV blockchain home a bit better.

Many new businesses have been adopting Bitcoin SV as part of their future. Among these is GoURL, a Bitcoin payment gateway and payment processor with over 18,000 registered companies and vendors from all over the world. With GoURL, anyone can monetize their website or sell content created using Bitcoin SV. Check them out at GoURL.io.

Meanwhile, the ElectrumSV team has offered a sneak preview of what’s to come in their future alpha code release. The build, which isn’t ready for prime time just yet, showcased the enormous amount of work being put into one of Bitcoin SV’s flagship wallet projects.

Watch The Bitcoin Vision: Episode 5:

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

Voltaire’s CashBack scheme promises to boost Bitcoin SV liquidity

Voltaire’s CashBack scheme promises to boost Bitcoin SV liquidity

Shortly after enabling Bitcoin SV (BSV) trading, London-based cryptocurrency exchange Voltaire.cash is following it up with a new feature that will increase BSV liquidity—by rewarding users for trading on the exchange.

The scheme is called CashBack, and it allows users to earn BSV along with other coins for trading on the exchange through maker orders, according to Voltaire. A calculator is available on the exchange for users to compute their potential BSV earnings for trading on Voltaire.

The platform credits 0.2% of the value of each maker order directly to the user’s wallet in the currency used to make the trade, which means that if a user makes an order to buy BSV, they can get 0.2% of their order’s value back in BSV. The user’s total earnings can be checked on the exchange’s trading interface. CashBack is enabled by default on all trading pairs offered by Voltaire.

The goal, according to the Voltaire team, is to distribute revenue among exchange users while also encouraging them “to create maker orders in a bid to exchange liquidity without the need for an exchange token.” They noted, “More importantly, it’s about increasing BSV liquidity and the volumes involved in BSV’s trading ecosystem.”

Voltaire enabled BSV trading on its platform in February, a move that it said marked “the beginning of a new era” for the electronic cash exchange, which has been firm in its belief of Satoshi’s original vision of a “peer-to-peer electronic cash.” Voltaire founder Semyon Germanovich has acknowledged the BSV network’s dedication to restore the original Bitcoin protocol and keep it stable all while allowing it to massively scale and keep security paramount to support safe instant transactions for merchants.

Jamahl McMurran, head of growth at Voltaire, said in a statement: “Bitcoin SV offers a technically sound solution to scaling. High transaction fees and extremely slow processing times as observed in 2016 are unacceptable and have a catastrophic impact on payment and trading experience. We chose to list Bitcoin SV because we believe it’s a solid implementation of the most efficient and fastest technology to use for payments and trading.”

Learn more about Voltaire’s CashBack scheme here.

The Bitcoin Vision: Episode 4

There’s a lot of excitement happening as the Bitcoin SV (BSV) ecosystem builds the world’s new money and global enterprise blockchain. This week’s episode of The Bitcoin Vision, coming to you from London, recaps the recent developments happening in the network—from an update to the Bitcoin SV code to an important rebrand, plus wins at a recent wallet workshop, moving EDI to BDI, as well as the latest Wright Vision from Dr. Craig Wright.

bComm Association, the leading industry group for Bitcoin business, is now the Bitcoin Association, dedicated to advancing business with Bitcoin SV. According to Founding President of the Bitcoin Association Jimmy Nguyen, the organization brings together merchants, exchanges, wallet operators, application developers, big enterprises, miners and other members of the Bitcoin ecosystem—all committed “to advancing all business uses of this powerful blockchain, not just payments and ecommerce.”

“Everyone knows Bitcoin for its vision to become the world’s peer-to-peer electronic cash system, but it can be so much more. Now that BSV has rebirthed the original Bitcoin, there is a scaling plan and technical roadmap for Bitcoin to become the world’s data ledger and data network,” Nguyen noted. “The name Bitcoin Association better captures this broader mission.”

Companies around the world are invited to join the Bitcoin journey, and there’s no fee to join the Bitcoin Association as a member. To learn more and register, visit bitcoinassociation.net.

In other news, the BSV development team, which works on the reference implementation for the Bitcoin SV, has released version 0.1.1 of its software. The latest update continues BSV’s focus on massive scaling, delivering performance and capacity increases to transaction propagation. The upgrade offers faster relaying of transactions, improvements in the security of instant transactions, while larger network messages will also allow higher volumes of transactions, and finally, the parallelization of network communication will increase efficiency across the network.

The scaling improvements in this release have all been researched and tested in the newly public Bitcoin SV Scaling Test Network (STN), which is now open to other network participants in the Bitcoin SV system.

Speaking of wins, significant achievements were made at a recent nChain-hosted wallet workshop in London, organized by the Bitcoin Association and sponsored by CoinGeek. The wallet workshop gathered representatives from BSV wallets around the world, who discussed how to enable more seamless integration among wallet applications and improve the user experience. Among the topics discussed were payment protocols between client and merchant wallets, payment channel implementations and easy addressing mechanisms.

Can we move EDI to BDI? EDI or electronic data interchange is the B2B backend tool that underpins 14 trillion dollars worth of global industry. It comprises such things as transmission of purchase orders, invoices, shipping documents and other data that all form part of a real-world transactional process. There are many national benefits to using Bitcoin as a transmission and storage mechanism of EDI, and several parties are already independently developing EDI to BDI projects, including specially commissioned nChain projects.

Finally we have The Wright Vision. Each week, nChain Chief Scientist Dr. Craig Wright authors a Medium post where he describes exciting new uses of the Bitcoin SV blockchain, especially incorporating nChain intellectual property. A recent Medium post of his, titled Forex accounting in script, explains how the BSV system can allow for the creation of complete end-to-end development contracts that are legally enforceable and paperless. It allows for complete payment of subcontractors in the integration of existing project-planning and scheduling software.

Watch The Bitcoin Vision: Episode 4:

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