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Last Updated : Apr 19, 2019 05:44 PM IST | Source:

Bitcoin SV to raise its block cap to 2GB

2GB blocks will enable thousands of transactions per second and rival legacy payment systems.

Moneycontrol News @moneycontrolcom

nChain's Director of Engineering Steve Shadders, who also serves as Technical Director for the Bitcoin SV Node team, announced that the BSV client software will raise its default block cap from its current 128MB to a commanding 2GB in July.

This ambitious plan comes after the BSV chain recently mined (in late March) two 128MB blocks, hitting the current block cap. 2GB blocks will enable thousands of transactions per second and rival legacy payment systems; it would also support advanced enterprise applications on BSV. Scaling matters for a blockchain to serve global business, and BSV is the only blockchain project that massively scales, right now.

In addition to raising the block cap to 2GB, the roadmap plans for an almost complete return in February 2020 to the original Bitcoin protocol so the "Satoshi Vision" of Bitcoin's creator can be fully realized without artificial limits.

Jimmy Nguyen, Founding President of Bitcoin Association (which advances the BSV ecosystem) commented: "We will not be derailed from our goal of creating a workable, fast, low transaction fee Bitcoin network that can scale beyond the likes of VISA and can also support enterprise applications as the single global blockchain. BSV is proving this can be done and we now have a road map to achieve what Satoshi Nakamoto envisioned all along."

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First Published on Apr 19, 2019 05:44 pm
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