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Bitcoin SV, mined a two gigabyte block

The event occurred on the past August 16th

La blockchain di Bitcoin Satoshi Vision (BSV) has created a new record. The past August 16, in fact, was mined a two gigabyte block, thanks to which the person concerned was rewarded with a commission equal to 14,94 BSV, against the usual 6,25.
The event would have occurred at block 700606 and represents a possible turning point, as it would not only allow the project born from a fork of BTC to achieve greater scalability, but also to entice miners to turn to it.
This last point was highlighted by the Bitcoin Association, the institution founded in Switzerland by Craig Wright, with the specific intent of using it as a tool against Bitcoin. Accused by supporters of BSV e Bitcoin Cash, another cryptocurrency born from a fork, to be a betrayal of Satoshi Nakamoto's original vision.

Bitcoin Satoshi Vision BSV - Bitcoin SV, mined a two gigabyte block

Bitcoin Satoshi Vision: the importance of what happened

It was to explain the real importance of what happened Steve Shadders, technical director of the BSV infrastructure. Who recalled that a long-lasting discussion has arisen around Bitcoin's scaling. Never landed on anything concrete, thus leaving the limit of one megabyte per block intact. As a result of which its blockchain can manage a maximum of 7 transactions per second.
On the contrary, BSV is moving with increasing determination towards the exact opposite path. What happened, in fact, represents only a foretaste, in that the goal is to achieve one million megabyt blocksAnd. Thanks to which it would become possible to manage millions of transactions per second. An opportunity which, however, also opens the way to great risks.

The problem of attacks 51%

The reason why the block limit on the Bitcoin network has remained unchanged over time is to be found in the security concerns. In fact, expanding the limit opens a door through which those who intend to take over the blockchain can have free rein. The demonstration of this assumption, advanced by the Bitcoin Core developers, lies in a fact: BTC has never had to endure a 51% attack. Unlike Bitcoin Satoshi Vision, repeatedly prey to these raids. Which represent the terror of the entire cryptographic space, as they make the phenomenon of double spending. That is the possibility of using the same virtual money for two operations or more.

The blocking limit is a real dilemma

The discussion between the supporters of Bitcoin and those of the competing projects is not actually about goat's wool, but it has its own obvious importance. One of the biggest problems of BTC is in fact represented by the maximum number of operations that can be undertaken in a given period of time. Which make its blockchain not only inefficient, but also more expensive. At least with respect to forks, which are heading towards the road of ever greater scalability.
However, a road paved not only by good intentions, but also by obvious risks. Moreover, demonstrated by the large number of attacks carried out over time in order to take possession of the networks concerned. Attacks that are now the terror of all those who work in the cryptographic field. The 51% attack, in fact, is in practice the equivalent of the forgery of traditional money. Providing further arguments to the many staunch detractors of digital assets.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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