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Bitcoin SV [BSV] to support a merchant API to enhance instant transactions: nChain Technical Director

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Bitcoin SV [BSV] to support a merchant API to enhance instant transactions: nChain Technical Director
Source: Pixabay

Bitcoin SV has begun to move away from the shadow of Bitcoin Cash, after the hardfork that separated them in November 2018. Steve Shadders, the Technical Director at nChain, which was the primary backer of BSV has announced that the token has big plans for the new year.

In the Bitstocks Crypto Podcast, talking to Daniel Arakelian, CTO of Bitstocks, Shadders stated that a merchant API [Application Programming Interface] is on cards when he was asked about BSV’s 2019 prospects. However, Shadders did not confirm what form the eventual API would take.

Shadders described the merchant API as “important,” as it would allow merchants to receive assurances of transactions and even find out the transaction fee in advance.

He stated:

“Once you’ve got to the point where you know exactly what transaction fee by 99.9 percent of the miners, you can get a fairly high level of assurance before you even broadcast the transaction.”

To deal with the problem of the meager transaction space of the infant Bitcoin SV, nChain is pushing the “Terranode Project.” Shadders stated that the project is divided into two phases, the first being a Proof-of-Concept [PoC] and the other being the full Terranode design, which the company is still working on. He also added that the Bitcoin SV project, “feeds into” the Terranode project.

In order to enhance security, a protocol specification is being worked on by nChain. Additionally, to comply with the consensus rules, a draft of the rules has been made and will be put through test cases to see if they satisfy the same. This will allow outsiders to realistically rewrite validation engines.



Shadders also highlighted the need for Bitcoin SV to focus on the scalability and security in the future. He also spoke about the bug bounty program, the rivaling programs implemented by Google and Microsoft, which BSV has launched to allow users to find bugs within the system.

Earlier this week, Craig Wright, the chief scientist at nChain and a BSV supporter, published a Medium post spelling out how the Bitcoin SV wallets could be used via smart cards as a biometric authentication device. According to Wright, if implemented, this application can authenticate passports and even encrypt information on computers.





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Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out of ‘saucer bottom’ pattern

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Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out out of 'saucer bottom' pattern
Source: Unsplash

Binance Coin [BNB] is nothing short of becoming the best performing crypto asset of 2019, as it creates higher highs every day. In a recent surge, BNB went up by approximately 12% in 24-hours breaking out of the ‘saucer bottom’ pattern.

BNB has been on a bull run since December 2018, it has surged by approximately 470% since that point. In the last 24-hours, the price was up by approximately 12% from wick-to-wick.

Source: TradingView

Moreover, the rise in the price over the day can be attributed to the announcement by Binance DEX, that was launched recently. The tweet read:

The new update will convert the BNB, which is an ERC20token, into BEP2, it will be called the “mainnet swap”. Furthermore, users have to convert their ERC20 tokens on Binance, the details of which will be released in the near future.

In addition, Mithril, a cryptocurrency project has announced that it will be the first project to migrate to the Binance Chain. It tweeted:



“$MITH token holders on the new @Binance_DEX will be the first to experience increased speed, security, and user friendliness while maintaining full control over their funds.”

A Twitter user, @carlitosblvd123, commented:

“So , all BNB we have now like erc20 in binance exchange and on trust wallet will be converted to bep2 automatically or we have to do anything to happen?”

@jigneshon, another Twitter user commented:

“Crypto Revolution will happen on 23rd April when Binance Chain Genesis block will be created. 🔥”





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