{"id":1684,"date":"2018-10-21T15:26:47","date_gmt":"2018-10-21T15:26:47","guid":{"rendered":"https:\/\/bitcoinsv.io\/?p=1684"},"modified":"2020-09-28T04:51:44","modified_gmt":"2020-09-28T04:51:44","slug":"bitcoin-sv-version-0-1-goes-live","status":"publish","type":"post","link":"https:\/\/bitcoinsv.io\/2018\/10\/21\/bitcoin-sv-version-0-1-goes-live\/","title":{"rendered":"Bitcoin SV Version 0.1 Goes Live"},"content":{"rendered":"

Leading blockchain technology research and development outfit nChain<\/a>\u00a0has rolled out the release candidate of the Bitcoin SV client on October 15 \u2014 one month ahead of the November Bitcoin Cash (BCH) network upgrade.\u00a0 BCH miners and mining pools are encouraged to begin using Bitcoin SV.<\/p>\n

Bitcoin SV<\/a>, which stands for Satoshi Vision, is a new full-node implementation for Bitcoin BCH<\/a> designed to fulfil the vision set out by Satoshi Nakamoto\u2019s original Bitcoin white paper.\u00a0 Unlike other competing BCH implementations which seek to make unnecessary changes to Bitcoin, Bitcoin SV\u2019s roadmap is to restore the original Satoshi protocol, keep it stable, enable it to massively scale, and allow major businesses to confidently build on top of BCH.<\/p>\n

Available on\u00a0GitHub<\/a>, the Bitcoin SV 0.1 version includes support for the November BCH upgrade, including the re-enabling of these Satoshi op_codes: OP_MUL, OP_INVERT, OP_LSHIFT, and OP_RSHIFT. The default maximum size of accepted blocks has also been increased from the 32MB soft limit to 128MB.<\/p>\n

After spending 5 weeks in public beta, this release candidate makes one significant change from the beta version:\u00a0 raising the limit on the number of op_ codes per script to 500 rather than removing it altogether. The Bitcoin SV team intends to remove the op_code limit entirely at a later time, after further testing as part of its rigorous QA framework.<\/p>\n

This release has streamlined to focus on its core audience of business users by disabling features meant for home users such as GUI and Windows support.\u00a0 Steve Shadders, Technical Director of the SV Project, said: \u201cIt\u2019s time for Bitcoin to professionalize.\u00a0 Therefore, Bitcoin SV is targeted at business users, primarily miners but also cryptocurrency exchanges and merchants.\u00a0 By eliminating unnecessary features, we can keep the development focused on what really matters to our core user base.\u201d<\/p>\n

Additionally, the automatic replay feature and the activation logic for the\u00a0May 2018 upgrade<\/a>\u00a0have been removed. The release version also introduced protections against malicious peer behaviour, notably the so-called \u201cinfinite block attack\u201d.<\/p>\n

Going forward, Bitcoin SV will focus more on scalability of BCH.\u00a0 Daniel Connolly, lead developer for the SV project, explains: \u201cFor this initial release candidate, we focused on stability for the protocol by minimizing the change set.\u00a0 For future releases, we plan updates to enable massive scaling of the BCH network so that it can support major enterprise usage globally.\u201d<\/p>\n

Considered one of the most promising Bitcoin BCH node implementations, Bitcoin SV is born out of the desire to empower miners to direct the future of Bitcoin and also to ensure BCH miners remain profitable. \u00a0Miners will have a choice and a voice to drive the process of restoring Bitcoin to its optimal state \u2013 that of unbounded blocks, original OP_Codes, and no artificial limits imposed on the protocol.<\/p>\n

But why now? The reason, according to nChain Group CEO Jimmy Nguyen is simple:\u00a0There\u2019s a direct economic need for miners<\/a>.<\/p>\n

At the recently held\u00a0The Future of Bitcoin Summit Bangkok 2018<\/a> in Thailand, Nguyen explained why it is important for the block size to begin scaling now \u2014and scale fast:\u00a0 \u201cIn two years the block reward will be split in half again to 6.25 BCH. So anyone who\u2019s mining now will in two years receive half of what they\u2019re receiving today. In order to maintain even current profitability, what that means is in two years they have to make up that 6.25 coins worth of value in something else, which has to come in transaction fees and which has to come in higher transaction volume.\u201d\u00a0\u00a0 In fact, the BCH network needs to reach gigabyte size blocks by the year 2020 to keep miners profitable, so the road to massive scaling must begin now.<\/p>\n

Explore the features of Bitcoin SV version 0.1\u00a0here<\/a>, and be part of the\u00a0Miner\u2019s Choice<\/a>\u00a0movement for Bitcoin BCH.<\/p>\n

The Bitcoin SV<\/a> project was created at the request of and sponsored by Antiguan-based CoinGeek Mining, with development work initiated by nChain. The project is also owned by the Antiguan-based bComm Association<\/a> on behalf of the global BCH community, and the Bitcoin SV code is made available under the open source MIT license<\/a>.<\/em><\/p>\n

\u00a0<\/strong><\/p>\n

NOTES TO EDITORS<\/strong><\/p>\n

For media enquiries, please email media@nChain.com<\/a><\/p>\n

or contact Infinite Global at:<\/p>\n

Matthew Gilleard (Infinite Global, EMEA)<\/p>\n

+44 (0)207 269 1430<\/p>\n

Jamie Diaferia (Infinite Global, US\/ASIA)<\/p>\n

+1.212.838.0220<\/p>\n","protected":false},"excerpt":{"rendered":"

Leading blockchain technology research and development outfit nChain\u00a0has rolled out the release candidate of the Bitcoin SV client on October 15 \u2014 one month ahead of the November Bitcoin Cash (BCH) network upgrade.\u00a0 BCH miners and mining pools are encouraged to begin using Bitcoin SV. Bitcoin SV, which stands for Satoshi Vision, is a new […]<\/p>\n","protected":false},"author":9,"featured_media":1685,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[71],"tags":[],"lang":"en","translations":{"en":1684},"yoast_head":"\nBitcoin SV Version 0.1 Goes Live - Bitcoin SV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nchain.com\/en\/media\/bitcoin-sv-version-0-1-goes-live\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin SV Version 0.1 Goes Live - Bitcoin SV\" \/>\n<meta property=\"og:description\" content=\"Leading blockchain technology research and development outfit nChain\u00a0has rolled out the release candidate of the Bitcoin SV client on October 15 \u2014 one month ahead of the November Bitcoin Cash (BCH) network upgrade.\u00a0 BCH miners and mining pools are encouraged to begin using Bitcoin SV. 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