Difference between revisions of "Bitcoin Satoshi Vision"
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Bitcoin Satoshi Vision (BitcoinSV) was created to maintain the integrity of the Bitcoin public ledger by reverting back to the original Bitcoin protocol with a view to keeping it stable and secure, and allowing it to scale massively to accommodate global demand for open public ledger technology. | Bitcoin Satoshi Vision (BitcoinSV) was created to maintain the integrity of the Bitcoin public ledger by reverting back to the original Bitcoin protocol with a view to keeping it stable and secure, and allowing it to scale massively to accommodate global demand for open public ledger technology. | ||
| − | + | BitcoinSV will maintain the vision set out by Satoshi Nakamoto’s visionary 2008 white paper titled [http://bitcoinsv.io/bitcoin.pdf Bitcoin: A Peer-to-Peer Electronic Cash System] which includes: | |
| + | * Scaling to accomodate global demand through network architecture and software allowing for big blocks to be mined | ||
| + | * Allowing a distributed small world network to form at the center of a Mandala network connecting billions of people through their devices | ||
| + | * Elevating miners into their role as service provider | ||
| + | * Generating on-chain economic activity sufficient to allow transaction fees to supplant block subsidies as the funding mechanism | ||
| + | * To drive a culture of using transaction fees to price services | ||
| + | * Using economic incentives to build network security | ||
| + | * Allowing the Bitcoin network to become a global infrastructure platform for financial and informatic exchange processes | ||
==Past Ledger Migrations== | ==Past Ledger Migrations== | ||
Revision as of 06:32, 30 January 2020
Bitcoin Satoshi Vision (BitcoinSV) was created to maintain the integrity of the Bitcoin public ledger by reverting back to the original Bitcoin protocol with a view to keeping it stable and secure, and allowing it to scale massively to accommodate global demand for open public ledger technology.
BitcoinSV will maintain the vision set out by Satoshi Nakamoto’s visionary 2008 white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System which includes:
- Scaling to accomodate global demand through network architecture and software allowing for big blocks to be mined
- Allowing a distributed small world network to form at the center of a Mandala network connecting billions of people through their devices
- Elevating miners into their role as service provider
- Generating on-chain economic activity sufficient to allow transaction fees to supplant block subsidies as the funding mechanism
- To drive a culture of using transaction fees to price services
- Using economic incentives to build network security
- Allowing the Bitcoin network to become a global infrastructure platform for financial and informatic exchange processes
Past Ledger Migrations
The Bitcoin ledger has twice been migrated to competing networks to preserve the integrity of the ledger. The first migration was performed on August 1st, 2017 when the ledger was moved from the BTC network onto the newly created Bitcoin Cash (BCH) network. The ledger was duplicated giving all BTC users an airdrop of coins on the BTC network just prior to the protocol having the irreversible Segregated Witness (SegWit) change applied.
The BitcoinSV network was created on November 15th, 2008 when miners again chose to migrate the ledger to protect it from the introduction of malicious changes. The BitcoinSV network is operated by miners who understand that the future of Bitcoin is through massive global scaling and have begun works to build new infrastructure and software to improve the transactional capacity of the network.
Bitcoin V0.1 and the return to Genesis
Since the creation of the BitcoinSV network, Bitcoin has undergone a series of upgrades which have each removed selected limits that have impact the network's throughput or re-enable features that had previously been disabled or even removed.
In February 2020, the BitcoinSV network underwent the Genesis upgrade, which removed all remaining limitations on the Bitcoin protocol. These included limits on transaction size, script size, multi-signature usage, block size and more.
The BitcoinSV network is the highest performing public ledger network in the world.