September Bitcoin SV London Meetup highlights

The latest Bitcoin SV London Meetup took place on September 5th in Central London, an event organized by the Bitcoin Association with the intention of nurturing the local Bitcoin SV community in a relaxed, informal setting.

This edition of the Bitcoin SV London Meetup series had a laser focus on the upcoming CoinGeek Seoul Conference, taking place October 1-2, with special guest appearances from the Bitcoin Association’s Jimmy Nguyen, nChain’s Steve Shadders and Dr. Craig Wright. The trio separately delivered brief presentations on what most excites them about CoinGeek Seoul and how the event has been designed to push forward the Bitcoin SV vision.

“As I always like to say, its time for Bitcoin to grow up. And for it to grow up, it needs to get beyond the crypto hobbiest ecosystem and get into mainstream”, Nguyen told CoinGeek.com.

“We have been reaching out to enterprises to educate them about building on Bitcoin SV and attracting them to come to CoinGeek Seoul to learn more. We’ve been reaching out to people in the traditional, institutional investment community – on Wall Street, in San Francisco, in other places – to educate them about why Bitcoin SV is a great asset class for they and their clients to consider”, he said.

“And finally, we’ve been reaching out to venture investors so that more investment funds around the world are starting to take a look at Bitcoin SV”, Nguyen added.

Nguyen pointed out that specific to CoinGeek Seoul, there will be an investment panel on the second day of the conference with a series of investors who will reveal the things they look for when considering investing in a Bitcoin start-up.

The Bitcoin Association will also be hosting a pre-event “BSV Venture Pitch Day” on September 29th, two days before the formal CoinGeek Seoul Conference. On this day, hand-picked start-ups will pitch their projects in front of a panel of different investors for the opportunity to be considered for investment.

Attendees were delighted with Dr. Craig Wright’s presence on the night and he spoke on the importance of engaging more developers within the Bitcoin SV ecosystem, highlighting how CoinGeek Seoul will help him achieve this goal.

“We want to actually get people engaged in building. I keep saying this. A distributed system needs developers everywhere. We need lots of systems, we need lots of people actually building an ecosystem”, Dr. Wright shared.

“You can’t make a currency like Bitcoin that is really something that takes a life of its own on and grows without lots developers who take these things up and do them”, he said.

Steve Shadders spoke more on the technical side, emphasizing the significance of the upcoming Genesis upgrade and his goal of educating BSV enthusiasts at all levels of the upgrade’s importance for the ecosystem.

“My presentation on the technical day is going to be specifically about Genesis.  It is important because its one of the most ambitious consensus changes that’s been done in the history of crypto.  I think we’re making more consensus changes in this particular upgrade than has ever been done before”, Shadders revealed.

Bitcoin SV London meetup this Thursday to feature big names

Bitcoin SV (BSV) meetups have become extremely popular, with new gatherings launching across the globe on a regular basis. They are a great opportunity for BSV enthusiasts – and even those just curious about the digital currency – to get together in a relaxed atmosphere and discuss what’s going on in the Bitcoin ecosystem. One of the most entrenched meetups is the London Bitcoin meetup, which is preparing for its next reunion this Thursday. This time, though, there are several key BSV figures that are going to attend.

According to a tweet by the Bitcoin Association, “Join the growing #BSV community this Thursday 5th Sep at the #LondonBitcoinMeetup with @bitcoinassn founding president @JimmyWinMedia and @nchainglobal CTO @shadders333. Free entry from 6pm at the @huckletree Shoreditch.”

The Bitcoin Association’s founding president is Jimmy Nguyen, who has been involved in BSV’s growth since the beginning. The organization was developed to provide a single point of reference for businesses, exchanges, developers, miners and more in the Bitcoin ecosystem in order to increase awareness and adoption of Bitcoin as the currency for Bitcoin commerce, or bCommerce. 

nChain’s chief technical officer (CTO) and technical director Steve Shadders is one of the most prolific developers in the blockchain community and has been working tirelessly to help ensure Bitcoin stays true to its goal of being the leading blockchain for business solutions. He recently commented on BSV’s Quasar upgrade and the advantages BSV has over other blockchains, explaining, “What we’re actually doing with the Quasar upgrade is demonstrating right now, that we can handle the future scale of whatever your business is. So you’ve got the confidence, not hoping that we’ll be able to pull it off some time in the future, we’re showing that it can be done right now.”

Quasar significantly raised the block-size cap for the BSV blockchain to two gigabytes. This was something that other blockchain projects, including Bitcoin Core (BTC) said was impossible and could never be sustained. BSV has not only achieved it, but it has sustained it for well over a month as several massive stress tests have been conducted against the network.

The London Bitcoin meetup will take place this Thursday from 6 PM to 10 PM local time. Huckletree Shoreditch is located in the Alphabeta building, an easy-to-reach location near Finsbury Square Garden and the Montcalm Royal London House. The event is a great lead-in to the upcoming CoinGeek Conference that is going to be held in Seoul, South Korea October 1-2. 

Post-Quasar London BSV Meetup explores evolutions in Bitcoin SV

Following the success of the recent Quasar upgrade, scientists and researchers gathered in London for the London BSV Meetup.

The event, which aims to brief Bitcoin SV (BSV) developers on the latest research and development work on BSV, brings together some of the leading voices on Bitcoin SV, including keynote speakers Alex Mackay, Joe Dalais and Steve Shadders of nChain.

Alex Mackay, a researcher at nChain, presented on “Miner ID and the Future of Mining.” He told delegates that nChain already has a proof-of-concept for the Miner ID model, though this was not yet ready for public demonstration.

According to Mackay, Miner ID would become increasingly central, with users requiring some mechanism for identifying and interacting with miners.

“As we scale BSV and blocks get bigger, there will be a shift in the ratio of fees miners incur — from block rewards to transaction fees. Sometime in the future, mining subsidies will run out, and miners will have to support themselves through mining fees,” he explained. “Miners at the gatekeepers to some valuable blockchain data. We need to develop the tools so they can create more revenue streams from that data.”

Joe Dalais presented on Metanet identity, explaining: “When you have identity on-chain, you can interact a hell of a lot more with the rest of the globe – and businesses can interact with you…When you start attaching your identity to transactions, it becomes a lot more powerful.”

Giving the example of a product refund, Dalais said a sale receipt stored on-chain and linked to an individual identity would provide certainty for retailers over the legitimacy of returns.

While at the moment, retailers require physical receipts, or even the presentation of the purchasing credit or debit card, “in a Bitcoin world, all they need is your alias.”

Meanwhile, Steve Shadders, CTO at nChain, discussed the Quasar upgrade, which he said activated smoothly, with no reports of service degradation.

Shadders said the Quasar upgrade “represents a shift in the way bitcoin governance works,” moving more of the emphasis from developers to miners.

While he noted that the upgrade to a 2GB block size was four times the originally envisaged size, he suggested the block limit would allow essential flexibility for developers, and particularly for increasing storage capacity on the BSV blockchain, saying:

Bitcoin caps aren’t meant to be there at all, and if they are, they aren’t meant to be hit.

The July event follows on from previous meetups, designed to encourage developers to be more ambitious in their BSV projects, while informing of the latest upgrades to the BSV protocol.

To learn more about the exciting developments happening on BSV, as well as the benefits of massive blockchain scaling for miners, application developers and enterprises, attend the upcoming CoinGeek Conference, taking place in Seoul, South Korea, on October 1-2. Get your tickets now.

London BSV Meetup inspires developers to be even more ambitious

The London BSV Meetup 2019 has inspired developers to push the boundaries even further with their BSV projects, after drawing together some of the leading developers in blockchain.

The June event saw a series of keynote presentations, including from scientists, senior researchers and software development personnel from the blockchain research firm nChain, on several key features and projects ongoing in the BSV ecosystem.

One of the presentations focused on Paymail, also known as the BSV alias protocol. Developed alongside Ryan X. Charles from MoneyButton, he described how the protocol allows neat peer-to-peer transactions by email.

In his presentation, nChain’s Andy set out the three key functions of Paymail, describing how it “unifies the application ecosystem behind a standard series of protocol extensions, defines how these extensions are presented, and enables federated systems to cooperate.”

Crucially, with Paymail, the domain owner is the ultimate trust authority on the protocol. The protocol has a number of envisaged use cases, including both consumer and commercial payments.

The presentation was followed up by a live coding session, in which nChain senior researcher Wei Zhang spoke about Elliptic Curve Digital Service Algorithm (ECDSA) and R-Puzzle.

Offering a unique insight into how these work in practical applications, Wei Zhang runs through a number of worked examples in the presentation, demonstrating the flexibility of developing for BSV.

nChain software development manager Carl Jackett presented a round-up of the most promising entries from the BSV hackathon, including the three finalists, UptimeSV, TonicPow and Polyglot.

UptimeSV is a distributed performance and uptime monitoring application. The app also allows anyone to earn BSV by participating in the uptime testing network. TonicPow is an advertising platform that allows advertisers and publishers to negotiate and earn directly in BSV.

Polyglot makes it easier to interact with Metanet protocols through python, aimed at smoothing the learning curve for new BSV developers.

Jackett went on to share some other interesting submissions, including Bitmav, an app for creating a digital legacy that can be recovered after a person has died, and Gate2Chain, a smart meter that allows real-time billing and supply control for utilities, both powered by BSV.

The event was set up to inspire developers to become more ambitious with their BSV projects, to take advantage of its capacity for low cost microtransactions and unique ability to handle scale. There will be a second virtual BSV hackathon, taking place on August 17. Applications are now open, and interested applicants can register here.