Dear friends of LivesOne,
China official's greenlight to Chinese companies to innovate more using blockchain in October last year has been crucial in the development of the technology in the country. Consequently, Chinese companies have embraced blockchain, with the major tech giants leading the pack. In March, Beijing has announced that it will implement blockchain invoice to reduce costs and make it easier for the tax payers to authenticate the invoices. Beijing will rely on the immutable nature of the blockchain to enhance transparency for its tax payers.
LivesOne always believes that blockchain is a kind of epoch-making technology, which solves the problems of authenticity and security in the traditional Internet mode, improves the ability of password anti-cracking and prevents records from being tampered with.
LivesOne has been widely recognized by members of the BSV community in cooperation with BSV in the past six months. The exchange BSV event has accelerated the integration of the two communities.
Recently, there are still many community members asking why not choose BTC or BCH with longer development time, and finally choose BSV? I will compare the parameters among the three public chains now.
The technological metrics of the three Bitcoin blockchains
Here are the technological metrics of the following three Bitcoin blockchains that share the same genesis block and proof of work mining algorithm required by miners to secure the network.
Bitcoin SV (BSV) wins not only in all technical capabilities, but judging by the metrics from the most recent month of February it shows that it is the most frequently used and remains the cheapest by far.
Why is BSV relatively better?
BTC Core only allows about six megabytes of data per hour across the network. The scripting language has been truncated and transaction malleability has been removed. As such, BTC is not even attempting to compete in this arena, so it is not a consideration for data or payment usage at a useful scale.
BCH was a promising project for about a year, but the introduction of Canonical Transaction Ordering (CTOR) and Schnorr Signatures has removed its functionality as a reliable timestamp server and bitcoin-style chain of digital signatures. With the further loss of malleability, many of its capabilities in higher level deployment of applications is also reduced. The developers replaced some of those functions with new Op_codes that work differently, but the use-cases have been very specifically targeted at payment functions, and the Bitcoin Cash community has eschewed anything to do with data services. So it is hard to estimate where the project is even attempting to move long term.
BSV has completed Genesis and is working on Teranode to prepare for expansion to TB size or even more blocks. BSV is no longer competing with other blockchains to capture data on the chain and is committed to subverting all existing business models in the world.
The Superlatives of BSV
- No Block Size Limit: The only limit to the number of transactions per block is the ingenuity of miners to attempt to mine and propagate blocks to the network.
- Higher Data Limits: Data per block is unbounded, and the data per transaction is best-in-class too!
- Network Topology: Nodes are miners, and any node that is not contributing more than it is taking from the network will get kicked off eventually. Incentives choose which nodes thrive, and the only nodes that thrive are those that cooperate best with the network by bringing the hardest competition. Every other network has an altruistic view of nodes, and that altruism signals their doom.
- Legal Compliance: Bitcoin SV is the only chain in compliance with the protocols of the bitcoin white paper without encumbrances or compliance issues in regard to laws pertaining to digital signatures, currency issuance, securities/equities and other regulations around token issuance and proof of work.
BSV is set in stone with unlimited scaling abilities and adopting the fixed protocol. LivesOne will follow the BSV consensus and work together with BSV. Let's look forward to it.
Symbiosism Economy Foundation
Mar25, 2020
No comments:
Post a Comment