Bitcoin SV, the two-month-old cryptocurrency is looking to scalability as their prime focus for the future, as confirmed by Steve Shadders, the Technical Director of nChain, a BSV proponent.
Shadders shared the same in the Bitstocks Crypto Podcast with David Arakelian, the CTO of Bitstocks, a London-based virtual currency advisory firm and an ardent supporter of Bitcoin SV.
The 4 pillars or the 4 S’ of the Bitcoin SV project are imperative to their existence and their future dominance, which Shadders spelled out as, scaling, security, secure-instant-transaction, and stability. The nChain director stressed that increasing stability allows nChain to focus less on irrelevant protocol changes and prioritizing on the scaling aspect.
“The scaling work is probably part of the reason why the Bitcoin SV project came into existence. We were somewhat frustrated with the pace of work that was going on.”
Security is also on the agenda for nChain, where every piece of code will go through its own specific checks to ensure it can be pushed to the public. Programs like a bug bounty will also be pushed to allow the public to find any defects, one finding these bugs, the development team will alter the process to prevent any mistakes.
He further added that nChain can do a lot more internal work with Bitcoin SV while sticking to the Consensus rules. Shadders highlighted a Proof-of-Concept [PoC] development in the terranode project, wherein an external agent or companion will be built to be paired with a node and handle the peer-to-peer work, on its behalf.
Shadders also spoke about Bitcoind, which he attests can handle connections both positively and negatively and hence an external agent is required, which he expanded on:
“If this external agent can sit there and handle the multi-threaded paths of peer-to-peer networking and then just feed transactions out of the Bitcoin node on a single connection, then the collective machine that you’ve got with these two components becomes an awful lot more performance (oriented).”
A lot more internal work on Bitcoind is currently in the pipeline at nChain, but Shadders believes that it is, “a slower path to success.” From the perspective of the terranode project, the above is also an interesting Proof-of-Concept [PoC] and nChain is still mulling over the component break-up of Bitcoin SV.
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Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out of ‘saucer bottom’ pattern
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.
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:
.@Binance Chain launches its mainnet and plans to execute Mainnet Swap on Apr 23, 2019.
— Binance DEX (@Binance_DEX) April 18, 2019
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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