πThe BSV Association has taken on the responsibility of managing the Bitcoin protocol and is actively working to ensure its effectiveness. At the recent London Blockchain Conference, Connor Murray, Head of Protocol Stability at the BSV Association, hosted a panel to discuss the Association’s mission and future plans. Murray also provided updates on the protocol and SVNode, including the exciting news that miners will offer some transactions for free.
Murray emphasized that the Association’s mission is to safeguard the protocol and empower developers. They aim to create a scalable data protocol that is accessible to all, supports micropayments, and complies with legal structures.
The Association focuses on four pillars: stability, scalability, security, and safe instant transactions. They believe that the original Bitcoin protocol can sustain a thriving and scalable network. To support the growing variety of transactions, they recognize the need for larger blocks. They are committed to delivering high-quality assurance and professional engineering to enhance security. Lastly, safe and instant transactions are a top priority for the BSV roadmap.
During his presentation, Murray expressed the Association’s goal to educate the public about the Bitcoin protocol. They aim to enable anyone to build competing node software to foster innovation and diversity.
Murray highlighted three critical upcoming SVNode updates. First, the alert key mechanism will be reinstated to notify nodes of bugs or malicious attacks on the BSV blockchain. This will prevent potential chain splits and facilitate a straightforward recovery process. Moreover, it will reduce reliance on third-party components for network communication.
Secondly, the BSV Association plans to support free transactions, similar to the early days of Bitcoin. While transaction fees play a crucial role in incentivizing miners and ensuring network security, free transactions still have relevance. Miners will have the option to allocate a portion of transactions for free to encourage wider adoption of Bitcoin.
Lastly, the BSV blockchain aims to restore certain essential components of the original Bitcoin protocol. This includes reintroducing opcodes like OP_VER and eliminating the requirement for a clean stack. Additionally, allowing opcodes in unlocking scripts will enable more innovative applications.
The BSV Association’s active stewardship of the Bitcoin protocol, along with these upcoming updates, demonstrates their commitment to ensuring the protocol’s effectiveness, scalability, and security. They strive to create a vibrant ecosystem that empowers developers and users alike. π