Satoshi's Vision - Bitcoin SV

Stability

Enabling businesses to plan years in advance and commit significant resources to build on a stable protocol.

Scalability

Delivering capacity increases through scalable architecture and miner configurable block sizes.

Security

Fostering best practice change management processes, external security audits and lucrative bug bounty program.

Safe Instant Transactions (SIT)

Unlocking the bricks-and-mortar merchant market and enabling new business models with micropayments and nanoservices.

Stability

Businesses, especially the biggest enterprises, require stability before they will operate on a technology platform.

The Bitcoin SV vision is to provide assured stability with only a limited and well known set of changes planned to restore the Bitcoin protocol to its original design, and enable innovation to occur on top of a stable base protocol.

Part of this is restoring the Satoshi op_codes to enable businesses and development teams around the world to create the many solutions possible on the Bitcoin SV blockchain, such as smart contracts, tokenisation, atomic swaps, and many more.

Core Stability Milestones

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The capacity of the Bitcoin SV network is determined by the miners that confirm blocks. Miners will analyse the state of the blockchain, the capability of the software, and other factors and determine values for the mandatory consensus parameters. Miners will publish the values that have been chosen.

The recommended method for determining the values of the mandatory consensus parameters is to survey the values that have been published by miners, taking account of the capabilities of the miner, and to use similar values if you are mining or higher values if you are not.

Note that miners may change the values that they use so a regular review of the settings is recommended.

We define a node as an instance of Bitcoin SV that building blocks for the purpose of mining. A Blockchain listener is an instance of Bitcoin SV that is not involved in the mining process.

For a listener we recommend choosing settings at least twice as high as that of the miners. This is in order to give some room so that when miners increase their settings in the future you are unlikely to be forked from the network by having a setting lower than theirs.

Scalability

In order for Bitcoin SV to truly act as a global money platform, it is necessary to demonstrate that the platform is ready to process transaction volume at the required scale. The Bitcoin SV roadmap is primarily focussed on delivering capacity increases, through bigger default or miner configurable block sizes and performance improvements. Out of the many test environments in use by the project, the SV Gigablock Testnet (SV-GBTN) is specifically dedicated to identifying bottlenecks and performance measurement of proposed changes. The SV-GBTN is running on a continuous cycle of performance tests, and the results of those, are for public consumption so that miners and other industry participants will be able to make informed scaling decisions.

By enabling massive scaling, Bitcoin SV will pave the way for the Bitcoin SV blockchain to support significantly higher transaction volumes and more transaction fees for miners. This is important for miners to maintain profitability as the block reward will halve again in the year 2020 (reducing from 12 BSV to 6.25 BSV for each block), and halve again in later years.

Massive scaling is also important to convince enterprises to use Bitcoin SV for their blockchain applications – which will require big blocks and large throughput capacity.

Core Scalability Milestones

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Note that miners may change the values that they use so a regular review of the settings is recommended.

We define a node as an instance of Bitcoin SV that building blocks for the purpose of mining. A Blockchain listener is an instance of Bitcoin SV that is not involved in the mining process.

Security

Bitcoin SV will be a global currency. To enable such a future, we need to be prepared to ensure a level of security commensurate with a global money system. To do this, the Bitcoin SV project has focused on rigorous Quality Assurance for mining node software.

This is achieved by implementing a rigid set of test phases with full traceability throughout the test pipeline, to assure users that changes pass through a formal and rigorous validation process before they are accepted. In this respect, Bitcoin SV aspires to levels of Quality Assurance exemplified by mission critical industries such as aerospace, medicine and national security.

First, the team will use best practice change management processes and engage external QA expertise from other security-sensitive industries to monitor and audit its QA processes.

Second, the project will engage the services of an industry-leading blockchain security audit firm.

Third, the project will offer a lucrative bug bounty program matching the likes of Google and Microsoft to motivate and mobilise security researchers around the world to find and responsibly report security vulnerabilities. The team has engaged expert service providers in the field to develop an industry best practice “Responsible Disclosure Program.”

Core Security Milestones

All the settings can be done by either adding parameters or changing their values in your bitcoin.conf file.

Note that miners may change the values that they use so a regular review of the settings is recommended.

We define a node as an instance of Bitcoin SV that building blocks for the purpose of mining. A Blockchain listener is an instance of Bitcoin SV that is not involved in the mining process.

Safe Instant Transactions (SIT)

Safe Instant Transactions are key to unlocking the brick-and-mortar merchant market for Bitcoin SV payments. Security improvements can be made to better secure instant transactions for the future, and the Bitcoin SV roadmap treats safe instant transactions as a key priority.

Core Safe Instant Transactions Milestones

All the settings can be done by either adding parameters or changing their values in your bitcoin.conf file.

Note that miners may change the values that they use so a regular review of the settings is recommended.

We define a node as an instance of Bitcoin SV that building blocks for the purpose of mining. A Blockchain listener is an instance of Bitcoin SV that is not involved in the mining process.