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Bitcoin SV [BSV] ramps up on scaling spree; overcomes another transaction obstacle




Bitcoin SV [BSV] ramps on scaling spree, removes another transaction obstacle
Source: Pixabay

Bitcoin SV [BSV], the nascent hardfork of Bitcoin Cash [BCH] has added to its scaling efforts by removing yet another limit on their network, allowing more efficient transaction flow to get to their goal of becoming, “the only public blockchain that maintains the original vision for Bitcoin.”

The limitation in question is the length limit on the “OP_RETURN” function which stores ambiguous data on the coin’s blockchain. By storing the data within the block, the function facilitates the interaction of several applications, albeit by occupying some space.

Steve Shadders, the technical director at nChain, the company spearheading BSV technological innovation and adoption, stated in a January 23 blog post, that miners of the crypto agreed to lift the op_return limits to 100KB without the need for a hardfork or an update.

The post read:

“Of course, in Bitcoin SV our driving principle is to return to the original protocol, which includes removing limits on things like OP_RETURN and allowing economics to govern usage. So, it was our goal from day one of the Bitcoin SV project to unshackle the data storage use case.”

According to Shadders, the limit on the OP_RETUN data, currently, is a soft limit which can be changed. However, the limit defaults to 233 bytes which can be raised by the collective efforts of the miners.

The BSV camp has stated that following the discussions among the mining community, the limit on the OP_RETURN function will likely be changed.

Furthermore, BSV plans on storing a large amount of data on one transaction, as opposed to stringing together numerous transactions. As the transaction size increases, so does the transaction fee charged, hence the incentive to increase the size.

James Belding, the head of Tokenized was ecstatic at this latest development on the BSV network, he stated, referring to BSV:

“Principally, it can allow our Tokenized system to run with the same flexibility and capabilities as Bitcoin itself! …And this isn’t scratching the surface either. Our team is very encouraged by this development and believes this is a historic moment for Bitcoin.”

Earlier this week Bitcoin SV concluded a Scaling Test Network [STN] which indicated that the BSV network could handle a 64MB block over 24 hours, as confirmed by Daniel Connolly, the lead developer of the BSV node.

Jimmy Nguyen, the founding president of the bComm Association affirmed that the 2019 goal for the BSV camp is to increase their default block cap to 512 MB with a goal of 1-2GB in the coming years and eventually have no default size, with the size decided by the miners.

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Tron DApp Weekly Report: Gambling apps leads the surge in Tron DApp numbers

Namrata Shukla



Tron DApp Weekly Report: Tron DApps number led by Gambling apps
Source: Pixabay

Tron, the eleventh largest cryptocurrency on CoinMarketCap, recently collaborated with Bitpie, a partnership that would help startups to bridge the gap in vulnerable financial systems. Tron’s token might be lagging in terms of performance in the market but, Tron DApps continued to surge.

The DApp weekly report released by the Tron Foundation reported an increase of 22 DApps in the Tron ecosystem, taking the total to 392. It noted that gambling DApps mainly contributed to this growth as 17 DApps were gambling-based. Decentralized exchanges followed suit, as 3 new DApps made their way into the Tron DApp ecosystem. The main highlight for the entire Tron community was the partnership with Opera, a mainstream browser.

Tron introduced a DApp ‘Lucky Moon,’ an entertainment-based DApp that pushes users to estimate the current time to run away from the imploding rocket with a specific reward rate. As the rocket takes-off, the reward rate keeps increasing and the player will have to escape at the right time. An extension of this game is ‘Tyrant Annihilation,’ where users need to collect seven types of equipment to kill a tyrant. The DApp might have taken inspiration from The Avengers.

The report made note of the fact that the Tron public chain received support from Aocoin wallet, a decentralized secure digital currency wallet. My Token, a software company that specializes in market information has been integrated into Tronscan and TRX market, leading the way to user traffic in DApps ecosystem.

At press time, Tron was valued at $0.0283 with a market cap of $1.89 billion. The 24-hour trading volume of the coin was noted to be $690.34 as it reported 6.36% growth over the past day. The coin grew by 8.80% over the past seven days, but fell by 0.44% in an hour.

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