Blockchain
Bitcoin SV (BSV) Network Completes Historic Genesis Hard Fork
On February 4, 2020, the Bitcoin SV (BSV) network successfully completed its historic “Genesis” hard fork to bring back Bitcoin’s original design. The update is code-named “Genesis” because it returns the Bitcoin protocol as closely as possible to the original released in 2009 by Bitcoin’s creator Satoshi Nakamoto (aka Dr. Craig S. Wright). Block 620538 was the first block mined after Genesis activated; however, it was block 620539 (mined by TAAL Distributed Information Technologies, Inc.) which confirmed that Genesis rules are valid and pre-Genesis rules are no longer valid on the BSV network. TAAL mined the historic block, as well as others before and after the Genesis activation, “on behalf of Satoshi Nakamoto” to honor the father of Bitcoin.
How does Genesis help massive scaling of the BSV network? The Genesis hard fork removed any arbitrary cap on Bitcoin’s block size and allows the blockchain to grow unbounded for enterprise usage. BSV already consistently has more transactions than the Bitcoin Core (BTC) network, and now can massively scale to levels of the VISA payment network and beyond. Market forces, rather than an arbitrary group of protocol developers, will determine how big BSV scales.
How does Genesis enable developers and businesses to build more? Along Bitcoin’s journey, protocol developers on the BTC chain deviated from Satoshi Nakamoto’s original design and restricted many technical capabilities of Bitcoin to act as more than just a payment system. On BSV, the Genesis hard fork restores many technical functions of the original Bitcoin protocol – such as removing artificial limits on the size and capabilities of transactions, and restoring the full original functionality of Bitcoin Script (the programming language used within the Bitcoin protocol). With these restorations, the BSV blockchain can be more easily used for more than just payment transactions; it also supports a vast array of data, token, smart contract, content delivery, enterprise application, Internet of Things, and other uses. This advances Bitcoin SV’s grand vision to become the world’s data ledger that can power “on-chain” data transactions and digital activity of all types, just like the Internet enabled a world where anything can operate online.
Why is it important to keep the Bitcoin protocol “set in stone”? A stable rule set ensures that a monetary or data transaction performed on the blockchain today will be valid in 2, 5 and 100 years from now. Furthermore, enterprises and developers want a locked protocol before they commit time and resources to build technology applications on top of it, rather than having to constantly change their development process if the base protocol is repeatedly changing. While it may experience software improvements, the Bitcoin SV ecosystem is committed to keeping its basic technical “rule set” now set in stone, as Satoshi Nakamoto always envisioned.
Development growth in the BSV ecosystem has been rapid. There are already 400 known companies, services, developer resources and protocol projects built on or for BSV. Now after the Genesis hard fork, expect that number to rapidly rise as developers and businesses can now build more complex applications on Bitcoin SV, without needing to use other attempted blockchain projects such as Ethereum, EOS or Hyperledger.
Eleven years after its birth, Bitcoin is finally back to what it was always designed to be: a massively scalable and immutable ledger to serve as peer-to-peer electronic cash and the world’s enterprise data ledger. In short, BSV is BitCoin.
Visit BitcoinSV.com to learn more about BSV. If you want a more detailed technical summary of the Genesis hard fork, please deep dive here.
To hear directly from global Bitcoin SV industry leaders, come to the CoinGeek London conference on February 20-21, 2020 at the historic Old Billingsgate venue in London.
SOURCE Bitcoin SV
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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