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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