Transaction Fee Configuration Why fees matter to miners Bitcoin was designed to distribute coins to miners through the block subsidy. The subsidy halves every 210,000 blocks. Currently we are in the fourth phase of the halving process. As the subsidy continues to decrease it is in miners’ financial interests to earn more revenue from the…

Introduction Bitcoin SV has recently been subjected to attacks by a malicious actor with substantial hash power in an attempt to defraud millions of dollars’ worth of BSV.  Events like this always force you to look at elements of Bitcoin in ways you might not have considered outside of the new context.  This article outlines…

The Bitcoin SV team recently received this request on the Bitcoin SV github issue tracker. “request to change the default script size limit from 10KB to 500KB” The use case presented looks like a valuable one that we would like to see explored.  However Bitcoin SV soundly rejected the model of “governance by developer decree”…

It’s taken us a bit longer than we hoped, but the beta version of Bitcoin SV 1.0.7 (Dynastic) will be released in early January (hence the “belated” part of this article’s title). The Dynastic release is the result of almost a year of work to untangle a particularly nasty mess we inherited from Bitcoin Core.…

Transaction volume on the Bitcoin SV blockchain approximately doubled for a few days last week – due to “multi source stamina testing” on the Bitcoin SV mainnet by the Metastreme team for 5 days beginning September 28.  This large increase in transaction volume is an opportunity to analyse the network and evaluate its performance under the increased load.  Timeline …

“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution… “ – Satoshi Nakamoto This is the very first sentence of the Bitcoin whitepaper. When Bitcoin V0.1.0 was released in 2009, it contained a proof of concept feature that…

The Rails release of Bitcoin SV (v1.0.5) introduces several game changing features that have long been in the making. Activation of the Journalling Block Assembler by default Batch transaction submission Free consolidation transactions This release is code-named RAILS because its major features are aimed to open new and innovative payment cases using the Bitcoin SV…

Background Some users performed a public stress test of the Bitcoin SV network, beginning on May 12, 2020 and apparently continuing for a week.  During the first day of this public stress test, approximately 2 million low fee transactions were broadcast on the Bitcoin SV network.  The vast majority of these transactions had a fee…

At 1:28am GMT block 620,537 was mined and Bitcoin SV nodes of v1.0.0 or greater began accepting transactions under the restored Genesis protocol.  At 1:55am at block height 620,539 the first block containing a Genesis-only transaction was mined, locking in the change. Old node software did not accept this block and forked off onto a…

The draft Genesis specification was published in December 2019 in order to elicit feedback from Bitcoin SV miners and other ecosystem participants.  This process has resulted in much valuable feedback and discussions between the Bitcoin SV team and other actors in the Bitcoin SV ecosystem.  As a result we are now ready to update the…