As many of our readers already know, Bitcoin SV, one of the offsprings of BCH has been increasing their efforts to show that they are scalable.
According to Steve Shadders, the Technical Director of nChain there are 4S that they are concentrating on; scaling, security, secure-instant transactions, and stability.
Regarding the scaling problem of blockchains, he stressed that increasing the stability of a blockchain will vastly increase its ability to scale because there will be less focus on less irrelevant protocol changes. He adds:
“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. 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 projects to unshackle the data storage use case.”
As per Dan Connolly, a senior developer at Bitcoin SV, recent tests have indicated that the blockchain protocol can comfortably handle 64MB blocks. Connolly believes that the Bitcoin SV network can handle even larger blocks.
A 64MB block was first mined in November, and a 103MB block was mined January 3, on the 10th anniversary of the Bitcoin genesis block. Those are the largest blocks ever mined on a public blockchain. But blocks of that size have not yet been mined for sustained periods.
James Belding of BSV added: “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.”