
<p>Excitement is building as there are just two weeks to go until this year’s biggest blockchain and digital-asset event &#8211; <a href="https://londonblockchain.net/en" target="_blank" rel="noopener">the London Blockchain Conference</a>. The event will be held at the Queen Elizabeth II Centre in London from 31 May &#8211; 2 June 2023 and <a href="https://tickets.londonblockchain.net/e/1" target="_blank" rel="noopener">tickets are available now</a>.</p>



<p>The event, which is the largest of its kind to date, aims to showcase BSV blockchain and how it can boost businesses in areas such as transparency, efficiency, performance, scale and cost. BSV will have its technical stage where speakers will give the audience a chance to learn about the technology through panel discussions, presentations and hands-on demonstrations.</p>



<p>The world is ready for an electronic cash system to power a transaction-based data economy, and at the <a href="https://www.bsvblockchain.org/events/london-blockchain-conference" target="_blank" rel="noopener">London Blockchain Conference</a>, we will demonstrate this with insightful and engaging panels, presentations and keynotes. Attendees can expect to connect and network with the brightest minds, <a href="https://www.bsvblockchain.org/technology" target="_blank" rel="noopener">the most innovative technologies</a>, and businesses working to transform industries and build the new Internet of Value.</p>



<h3 class="wp-block-heading" id="h-education-and-demonstrations">Education and demonstrations</h3>



<p>With a specific emphasis on educating professionals at the enterprise level, government officials, and regulators, the LBC aims to remain impartial while emphasising the advantages of a highly scalable public blockchain. This will be achieved through a series of informative keynotes, panel discussions, and presentations conducted on two stages over three days.</p>



<p>One stage will cater to individuals interested in the technical aspects of blockchain development and implementation, while the other stage will focus on the business aspects.</p>



<p>The panels and presentations on the business stage have been carefully curated to appeal to professionals from all industries, addressing common challenges faced in business and demonstrating how blockchain-powered technology can effectively resolve them.</p>



<p>Attendees can also expect:</p>



<ul>
<li><strong>Thought leadership:</strong> Keynote speeches, panels and presentations will immerse you in the developments within various industries building on-chain.</li>



<li><strong>Astounding exhibitors:</strong> Engage with products and services from global blockchain companies, from startups to global enterprises.</li>



<li><strong>Extraordinary networking:</strong> Build relationships with the most influential senior decision-makers, developers, and investors in the blockchain space.</li>



<li><strong>Incredible innovations:</strong> Discover new applications that are changing industries on a global scale.</li>



<li><strong>Extensive reach:</strong> Do business with 2,000+ attendees from 100+ countries.</li>
</ul>



<p>A full agenda for the conference can be found <a href="https://londonblockchain.net/en/agenda" target="_blank" rel="noopener">here</a>. Registration for the conference is free and can be done <a href="https://tickets.londonblockchain.net/e/1" target="_blank" rel="noopener">through the London Blockchain Conference website.</a> Those who are unable to attend the conference in person can also sign up for a virtual ticket <a href="https://tickets.londonblockchain.net/e/1" target="_blank" rel="noopener">here</a>.</p>



<h2 class="wp-block-heading" id="h-about-bitcoin-association-for-bsv">About Bitcoin Association for BSV</h2>



<p><a href="https://association.bitcoinsv.com" target="_blank" rel="noopener">Bitcoin Association for BSV</a> is a non-profit association (Verein) based in Switzerland and a global industry organisation which advances BSV blockchain. It brings together enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others in the BSVecosystem.</p>



<p>The Association supports BSV as the <a href="https://www.bitcoinsv.com/" target="_blank" rel="noopener">original Bitcoin</a>, with a stable protocol and massive scaling roadmap to becoming the world’s new money and global blockchain for enterprise. The organisation seeks to build a regulation-friendly ecosystem that fosters lawful conduct while encouraging digital currency and blockchain innovation.</p>


Just two weeks to go until the London Blockchain Conference!

!&#8211; wp:code {&#8220;style&#8221;:{&#8220;border&#8221;:{&#8220;width&#8221;:&#8221;1px&#8221;}},&#8221;borderColor&#8221;:&#8221;foreground&#8221;} &#8211;&gt;
<pre class="wp-block-code has-border-color has-foreground-border-color" style="border-width: 1px;"><code><strong>Overview:</strong>
• In this session, the 2nd on day two, Wright discussed the future of Bitcoin and the
scalability of nChain’s blockchain solutions;
• In the third session on the second day, Wright discussed identity proofs;
• He discussed how identity can be demonstrated on the blockchain without exposing
sensitive information;
• Wright questioned the ease of privacy and discussed queries surrounding data
acquisition and disclosure;
• He compared Bitcoin to security certificates, noting issues with the current model;
• Bitcoin, blockchain, and tokenisation offer more control over data access and faster
detection of breaches or attacks;
• Using Bitcoin, it is possible to establish provable ownership of data, multi-sig
access, and pseudonymous investments while maintaining confidentiality and privacy.</code></pre>




Dr Craig S. Wright, <a href="https://nchain.com/company/about-nchain/" target="_blank" rel="noopener">Chief Scientist at nChain</a>, held the first edition of his Bitcoin Masterclass series at an exclusive venue in London in January. The two-day immersive course forms part of a monthly series aimed at helping attendees understand the fundamentals of Bitcoin and the technology behind it.





<a href="https://nchain.com/resources/events-and-webinars/the-bitcoin-masterclasses-registration/" target="_blank" rel="noopener">The Bitcoin Masterclass series</a> will give you a comprehensive overview of <a href="https://www.bitcoinsv.com/history" target="_blank" rel="noopener">Bitcoin&#8217;s history</a>, theory and design. Wright discussed the future of Bitcoin and the unbounded scalability of nChain’s blockchain solutions with potential use cases across several industries.





In the third session on the second day, Wright discussed Identity proofs. He further discussed how identity can be demonstrated on the blockchain without exposing sensitive information.




<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
<div class="wp-block-embed__wrapper">https://youtu.be/qgLlJl0fRWI</div></figure>



<h2 id="h-why-keeping-digital-identity-private-is-not-easy" class="wp-block-heading">Why keeping digital identity private is ‘not easy’</h2>




Wright began the session by asking the audience whether they thought ‘<a href="https://www.bitcoinsv.com/what-the-bitcoin-white-paper-has-to-say-about-privacy" target="_blank" rel="noopener">privacy is easy</a>’? While some audience members argued it is easy, Wright brought up several instances where privacy concerns could surface in particular scenarios.





As mentioned in earlier sessions, there are several queries surrounding who can obtain specific information, for what purpose, at what point, and how much data can be disclosed by acquiring that information. He gave the example of getting a binary response to queries such as ‘Is this individual authorised to enter?’ or ‘Is this person a worker at company X?’ without disclosing sensitive data, such as the individual&#8217;s date of birth or work history.





<iframe loading="lazy" src="https://www.slideshare.net/slideshow/embed_code/key/qFPA14zCNY25zF?hostedIn=slideshare&amp;page=upload" width="800" height="439" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>




<h3 id="h-bitcoin-vs-certificates" class="wp-block-heading">Bitcoin vs certificates</h3>




Wright then moved on to the issue of Bitcoin vs security certificates, citing the widely-used SSL/TLS X.509 standard digital certificates. These certificates are distributed by trusted Certificate Authorities (CA) who are supposed to follow strict rules for granting them.





However, Wright noted that the issue with this model is that the issuer can be compromised, leading to a large number of security breaches affecting many owners before any action is taken. He gave the example of DigiNotar, a Dutch CA that was compromised in 2011, where the breach affected many well-known companies.





By comparison, <a href="https://www.bitcoinsv.com/">Bitcoin, blockchain</a>, and tokenisation offer more control over data access than the current system and provide faster detection and alerting of breaches or attacks.





Wright posited that this would be a better system than X.509 and handling certificate revocation. He added that using Bitcoin, it is possible to establish provable ownership of data, multiple ‘subkeys’, multi-sig access to data, and pseudonymous investments that remain compliant as long as the relevant authorities are aware of the true identity behind the pseudonym.





The identity of this ‘person’ can be structured with full on-chain records of its real-life shareholders/option holders and officeholders, with transparent and open data and legal structures while maintaining confidentiality and privacy.

The Bitcoin Masterclass (London) Day 2: Identity proofs


<p>In the latest episode of our <a href="https://bitcoinsv.com/blockchain-hustlers-video-series-piloted-by-bitcoin-association/" target="_blank" rel="noopener">Blockchain Hustlers series</a>, we feature <a href="https://www.linkedin.com/in/joe-de-pinto/" target="_blank" rel="noopener nofollow">Joe De Pinto, Co-Founder of Haste Arcade</a>, who details how his company is changing the world of gaming through the integration of blockchain.</p>



<p>Haste Arcade is the world&#8217;s first Instant Leaderboard Payout arcade and developer SDK. Gamers can earn real-time peer-to-peer payments, simply by placing them on a game&#8217;s leaderboard. In addition to games, the arcade also has a marketplace where gamers can purchase game collectables in the form of NFTs and use the collectables within the games.</p>



<p>De Pinto explained that the idea for Haste began when he and his other co-founders wanted to build a platform to showcase <a href="https://www.bitcoinsv.com/feature/micropayments" target="_blank" rel="noopener">the unique micropayment capabilities of Bitcoin</a>. This led to the birth of Haste and subsequently Haste Arcade.</p>



<p>&#8216;This is where Bitcoin comes into play. If you get onto the leaderboard of one of our games, you spend a penny or $0.10 to play that game. Anyone that plays after you, you are then going to get a percentage of what they spend to play that game. So that&#8217;s what we call instant leaderboard payouts.&#8217;</p>



<h2 class="wp-block-heading" id="h-play-and-earn-via-bitcoin-sv">Play and earn via Bitcoin SV</h2>



<p>De Pinto said that this system is an added engagement tool for users who will constantly return to get the chance to rank higher on the leaderboard and earn more money through micropayments. This is fundamentally different from most of the casual gaming market which relies on huge player bases and heavy advertising.</p>



<p>This is beneficial not only to gamers but developers as well, as they have the opportunity to begin earning from the very first gameplay without having to bombard customers with incentives or advertisements. De Pinto added that users don’t need to have any knowledge of <a href="https://bitcoinsv.com/">Bitcoin or blockchain</a> to play.</p>



<p>&#8216;We&#8217;ve tried to eliminate any (required) knowledge of blockchain at all. You should be able to just come to the arcade and start playing &#8211; and we do have free versions of every single game. But even if you wanted to play for money, you don&#8217;t have to understand what&#8217;s going on in the background. It&#8217;s supposed to feel like you are just at an arcade,&#8217; he said.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Haste Arcade - a new frontier of gaming | Blockchain Hustlers" width="500" height="281" src="https://www.youtube.com/embed/L0S5mc1EOn0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<h2 class="wp-block-heading" id="h-why-bitcoin-sv-is-essential-to-haste-arcade">Why Bitcoin SV is essential to Haste Arcade</h2>



<p>De Pinto noted that Haste Arcade would only be possible on a blockchain that is capable of millions of micropayments at a low fee.</p>



<p>&#8216;BSV enabled us to build a product where you can spend a penny, and you can split that penny up 100 different ways and disperse a fraction of that penny to hundreds of people who are on these leaderboards,&#8217; he said.</p>



<p>He added that the decision to choose BSV over other blockchains was easy, as other chains are simply not capable of doing the things that BSV can. &#8216;Gamers using Haste Arcade and being able to now monetise things that they were already doing because of micropayments is a big deal. <a href="https://www.bitcoinsv.com/feature/nft-support" target="_blank" rel="noopener">I really like the collectables and the NFT aspect of things</a>.&#8217;</p>



<p>&#8216;Not so much to give people an advantage over one another, where someone gets a power-up versus someone who couldn&#8217;t afford that NFT. I think it&#8217;s more just on the aesthetic side and then being able to resell that NFT If you get tired of it.&#8217;</p>



<h2 class="wp-block-heading" id="h-demonstration-of-haste-arcade">Demonstration of Haste Arcade</h2>



<p>This episode of Blockchain Hustlers also includes a demonstration by De Pinto on Haste Arcade’s features, including:</p>



<ul>
<li>Account creation and connecting wallets;</li>



<li>The different games which are available and the leaderboard integration;</li>



<li>NFT integration and the ability to tie this into real-life collectables;</li>



<li>How micropayments work on the platform;</li>



<li>Long-term plans for the platform and blockchain integration.</li>
</ul>


Gaming on blockchain with Haste


<p>Bryan Daugherty, the Public Policy Director at Bitcoin Association, has published his new book <a href="https://www.amazon.com/dp/B0BXVND8WR" target="_blank" rel="noopener nofollow">The Bitcoin Letters</a>. The book aims to help readers unlock the mysteries surrounding Bitcoin and essential concepts such as sustainability, regulation, and the transformation to Web2 and Web3.</p>



<p>Bitcoin has taken the world by storm, but there are still many misconceptions about the technology. Through thoughtful analysis and engaging writing, readers will gain a deeper understanding of the intricacies of Bitcoin and how it is shaping the future of finance.</p>



<p>Additionally, the book includes three letters written to industry leaders &#8211; Elon Musk, NYS Governor Hochul, and SEC Chair Gary Gensler &#8211; that provide unique insight into the world of Bitcoin.</p>



<h2 class="wp-block-heading" id="h-energy-efficiency-in-bitcoin-mining">Energy efficiency in Bitcoin mining</h2>



<p>One of the key sections of the book is Bitcoin’s energy usage, which has been a widely debated issue in recent years due to its proof-of-work (PoW) consensus mechanism. However, the current understanding of PoW is limited as it only considers miner economics, ignoring the transactional throughput of the network.</p>



<p>To gain a more accurate picture of Bitcoin’s energy consumption and potential for sustainable scaling, policymakers must understand the interrelationships between blockchain technology and cryptocurrencies and their impacts on sustainability.</p>



<p>Cryptocurrencies offer a seemingly endless supply of tradable tokens for exchanging or holding value, while blockchain proponents view tokens as a means to access a vast range of potential applications that can replace current infrastructure.</p>



<p>Policymakers must possess a developed understanding of these technologies to promote sustainability and innovation. However, public discourse and media coverage often focus on volatile crypto casino and token economics aspects, leading to confusion for those new to the space.</p>



<p>New York lawmakers passing a moratorium on <a href="https://www.bitcoinsv.com/mining">Bitcoin mining</a> highlights the urgent need for a deeper understanding of the interrelationships between blockchain technology and cryptocurrencies and their impacts on sustainability. Policymakers must investigate the relative benefits and costs of these technologies and assess the potential of blockchain to manage and monetize data.</p>



<p>While pausing energy-intensive mining operations and conducting thorough environmental reviews is necessary, policymakers must consider the utility and throughput capacity of other PoW protocols and not just Bitcoin Core (BTC). Unbounded block sizes, like those used in the BSV blockchain, have the potential to accommodate massive levels of transactions while being energy efficient.</p>



<p>Policymakers must examine the potential environmental impacts of these technologies and assess their potential for transformational innovation and regional benefits. The debate around PoW consensus mechanisms highlights the need for policymakers to engage with these issues in a nuanced manner and consider the potential of these technologies beyond their cryptocurrency use cases.</p>



<p>In summary, understanding the nuances of PoW is necessary to gain a more accurate picture of Bitcoin’s energy consumption and potential for sustainable scaling. Policymakers must possess a developed understanding of the interrelationships between blockchain technology and cryptocurrencies and their impacts on sustainability to promote sustainability and innovation in this space.</p>



<p>Thorough environmental reviews are necessary, but policymakers must consider the utility and throughput capacity of other PoW protocols and assess the potential of blockchain for transformational innovation and regional benefits.</p>



<h2 class="wp-block-heading" id="h-buy-your-copy-of-the-bitcoin-letters-now">Buy your copy of The Bitcoin Letters now</h2>



<p>The Bitcoin Letters is now available in Kindle ($9.99) and paperback ($19.95) formats on Amazon. But for readers who want to experience the full potential of Web3 technology, there&#8217;s an even better option. By downloading the ImmutableBooks.com app, you can purchase the eBook by page, chapter, or in its entirety, using a pay-per-consumption model that only charges you for the content you read.</p>



<p>ImmutableBooks.com is user-friendly and secure, powered by the latest blockchain technology to ensure complete privacy and safety for its users. It&#8217;s a revolutionary platform&nbsp;that offers unparalleled transparency, security, and immutability in content distribution.</p>



<ul>
<li>The Bitcoin Letters: <a href="https://thebitcoinletters.com" target="_blank" rel="noopener nofollow">https://thebitcoinletters.com</a></li>



<li>Available on Amazon: <a href="https://a.co/d/9DFK2oo" target="_blank" rel="noopener nofollow">https://a.co/d/9DFK2oo</a></li>



<li>Available on Immutable Books: <a href="https://immutablebooks.com" target="_blank" rel="noopener nofollow">https://immutablebooks.com</a></li>
</ul>



<h2 class="wp-block-heading" id="h-about-bryan-daugherty">About Bryan Daugherty</h2>



<p>Bryan Daugherty is an accomplished digital transformation specialist with over two decades of experience in enterprise-grade technologies. Daugherty serves as the Global Public Policy Director for an educative, non-profit trade association, where he advises policymakers in over 30 countries, playing a key role in shaping the future of blockchain policy globally.</p>



<p>His area of expertise includes Blockchain Information Security, Cybersecurity, Enterprise Blockchain Integration &amp; Implementation, and Commercial Blockchain Application Development.</p>


The Bitcoin Letters: Energy efficiency in Bitcoin mining


<p>MyFabula is <a href="https://www.bitcoinsv.com/myfabula-the-social-network-that-allows-you-to-truly-be-yourself" target="_blank" rel="noopener">a social network with a novel approach of allowing users to tell their own stories </a>and providing long-term value for users as well as their families and friends. Speaking at the recent Blockchain in Business Conference in Sydney <a href="https://www.linkedin.com/in/michael-choi-93296139/?originalSubdomain=au" target="_blank" rel="noopener nofollow">Michael Choi, co-founder of MyFabula</a>, explained how his company stands out from other social media platforms and why it is important to preserve certain memories.</p>



<p>Choi started his presentation with a personal anecdote where he recounted how his work for the government often took him to rural Australia. As there weren’t many options for social activities, he would visit cemeteries to enjoy the silence and to contemplate. Reading tombstones, he realised that reducing a person’s life to just their name, dates and a short phrase like ‘loved by all’, doesn’t do justice to any person.</p>



<p>Choi noted that everyone has a story to tell, and the best person to tell it is ourselves. Telling stories is a forgotten aspect of modern life and MyFabula aims to create an ecosystem where individuals can tell their own stories in their own way, instead of others telling it for them.</p>



<h2 class="wp-block-heading">Passing on stories &#8211; a lost tradition</h2>



<p>Choi highlighted the importance of storytelling as a way to pass on history and personal experiences. Verbal storytelling has been a common method for sharing stories throughout human history, and writing diaries was also a popular way to record one&#8217;s thoughts and feelings. However, with the rise of social media, many people now use platforms like Facebook to share their stories.</p>



<p>Despite these methods, there are challenges in leaving behind a lasting record of one&#8217;s life. Verbal stories are lost once the storyteller dies, diaries have limited distribution and longevity, and there can be third-party restrictions on what one can share.</p>



<p>The challenges in this context are solved by MyFabula, which is a platform for sharing personal stories. The word ‘fabula’ means ‘story’ in Latin, and the platform allows users to upload their stories in various formats, including images, text, voice, and video. The stories are shared in the MyFabula Metaverse, which consists of five chambers where users can interact with each other and explore different themes.</p>



<h2 class="wp-block-heading">A five chamber Metaverse</h2>



<p>Users can upload their stories through an app and access them through a Metaverse consisting of ‘five chambers’:</p>



<h2 class="wp-block-heading">Auditorium</h2>



<p>The first chamber is an auditorium where users can display their stories publicly, whether they are writers, dancers, or musicians. This chamber is designed to showcase the real you, something that others may not know about you. The idea is to encourage users to share their unique and personal stories with others in a public setting.</p>



<h2 class="wp-block-heading">Library</h2>



<p>The second chamber is the Library. This chamber serves as a storage space where users can collect information that they may want to use later, but are not sure where to put yet. Essentially, it&#8217;s a storage room for users to keep their data.</p>



<h2 class="wp-block-heading">Vault</h2>



<p>The third chamber is called The Vault. The Vault is a secure place to keep secrets, such as a person&#8217;s will or something that they are unable to talk about. Choi gives an example of a psychologist who informed him that many of her female clients have experienced trauma in their past, and the ability to store their secrets and time the release of their information could provide closure and justice, even after their death.</p>



<p>The Vault provides security and allows for the release of information at a later time. Choi notes that while not everyone may have secrets, the majority of people do, and the Vault is a safe place to store them.</p>



<h2 class="wp-block-heading">Memorial Hall</h2>



<p>The fourth chamber is called the Memorial Hall. This chamber is a place where people can leave behind their legacies and share their life stories with their loved ones and others in the future. It&#8217;s a way to ensure that people are remembered the way they want to be remembered and to leave a lasting impact on the world.</p>



<h2 class="wp-block-heading">Tribe</h2>



<p>The last chamber is called Tribe. It is a virtual site, where people can leave behind information about themselves for their loved ones to remember them after they pass away. This idea was suggested to him by a person with a Maori background, who expressed concern that intermarriage was causing them to lose their heritage.</p>



<p>Michael suggests creating a tribe where people can link their MyFabula accounts with others to validate their connection and preserve their heritage. This concept is particularly interesting for indigenous communities, but can also be of value for regular families or even in other contexts.</p>



<h2 class="wp-block-heading">National War Memorial and Brisbane Olympics 2032 projects</h2>



<p>MyFabula also has use cases outside of its original purpose. One of the projects is for the National War Memorial in Canberra. Choi said that the goal is to provide more information about the soldiers who sacrificed their lives for their country. Visitors of the memorial will be able to gain access to the personal story of a soldier via a QR code system.</p>



<p>Another project is an application of the Tribe chamber of MyFabula. The concept of legacy that can define a tribe or a family, according to him, is also applicable to great projects, to which many people contribute to make it successful. MyFabula will create a Tribe for the Brisbane Olympics 2032, which is not just about the infrastructure and stadiums.</p>



<p>This way MyFabula will commemorate the stories and contributions of volunteers, construction workers, project managers etc &#8211; to recognize and celebrate the contributions of everyone involved in the event.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Telling Your Own Story with MyFabula" width="500" height="281" src="https://www.youtube.com/embed/EcS2XM83KWU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<h2 class="wp-block-heading">MyFabula as a tool for reflection</h2>



<p>MyFabula arguably provides most of its value over the long term. However, Choi also stresses the reflective element of the application. To further provide value in this way, MyFabula incentivises self-talk as a means of hearing your own thoughts and reflecting on them.</p>



<p>These recordings can also be published for the public or family members. Choi mentions that this could create a database for any user. If AI is allowed to access this database it can be used in various ways by the family, such as recreating the voice of a loved one or even having simulated conversations based on what a user left behind.</p>



<h2 class="wp-block-heading">The revenue model of MyFabula</h2>



<p>Choi said that MyFabula plans to offer both a one-off subscription or recurring payments over time. The company is exploring ways to store user information for up to 200 years and beyond, while also making it interesting and valuable to readers. One idea involves offering a perpetual account where readers can solve riddles linked to the deceased user&#8217;s memory hole for a chance to win a prize, with the proceeds helping to maintain the system. The company is also working on an NFT release.</p>


Telling stories and passing them on with MyFabula


<p>Blockchain-as-a-Service (BaaS) platform <a href="https://mintblue.com/" target="_blank" rel="noopener nofollow">mintBlue</a> has broken the <a href="https://bitcoinsv.academy/blog/the-bitcoin-white-paper-proof-of-work" target="_blank" rel="noopener">proof-of-work</a> world record with over 50 million transactions. While this is far above the previous record, it is still <a href="https://www.bitcoinsv.com/" target="_blank" rel="noopener">only a fraction of the transactions which Bitcoin SV</a> is capable of. Currently, this stands at 1.4 billion transactions in 24 hours.</p>



<p>The mintBlue blockchain development suite removes the complexity of <a href="https://www.bitcoinsv.com/technology">blockchain technology</a> so that organisations can focus on their own solution and business logic instead of investing resources into building it from scratch. mintBlue specialises in fully compliant, patent-protected blockchain technologies and works with professional data centres. The technology has been endorsed by multiple universities as the best option for implementing blockchain.</p>



<p>On 15 March 2023, the platform processed 18GB of data, at a minimal cost of $325, registering 91% of all transactions across all major blockchains (<a href="https://bitinfocharts.com/cryptocurrency-charts.html" target="_blank" rel="noopener nofollow">BitInfoCharts</a>). It is also the greenest provider as per the <a href="https://impact.mintblue.com/" target="_blank" rel="noopener nofollow">mintBlue Blockchain Sustainability Index</a>.</p>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="902" height="540" src="http://127.0.0.1:8080/wp-content/uploads/2023/03/inline-1-1.png" alt="" class="wp-image-22213"/></figure>



<h2 class="wp-block-heading" id="h-transaction-volume-only-possible-on-bitcoin-sv"><a></a>Transaction volume only possible on Bitcoin SV</h2>



<p>The record number of transactions is only possible on Bitcoin SV, as it is the only protocol which can scale to a billion transactions per second and beyond using payment channels and overlay networks.</p>



<p>The ground-breaking milestone showcases the immense potential of public blockchains in facilitating large-scale deployments of use cases centred around data ownership, transparency, storage, and authentication. It challenges the common belief that public blockchains are not suitable for such purposes, opening new possibilities for the future of blockchain technology.</p>



<p>&#8216;We wanted to debunk the &#8216;blockchain trilemma&#8217; narrative once and for all. This blockchain myth is the belief that the technology cannot be simultaneously secure, decentralised, and scalable,&#8217; said <a href="https://www.linkedin.com/in/nielsvandenbergh/" target="_blank" rel="noopener nofollow">Niels van den Bergh</a>, CEO of mintBlue.</p>



<p>&#8216;It has led to a common misconception that public blockchains are slow, expensive and not scalable. Therefore, we decided to prove the world wrong and showcase the true power of the public blockchain and present our case of its affordable and secure ability to scale.&#8217;</p>



<h2 class="wp-block-heading" id="h-professional-grade-highly-scalable-blockchain-transaction-processing"><a></a>Professional-grade, highly scalable blockchain transaction processing</h2>



<p>The milestone was also made possible thanks to the advanced processing capabilities of TAAL. <a href="https://www.taal.com/" target="_blank" rel="noopener">TAAL delivers value-added blockchain services,</a> providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications on the BSV platform, and developing, operating, and managing distributed computing systems for enterprise users.</p>



<p>&#8216;Our infrastructure can easily handle 45 million transactions in a day. Each block is up to 4GB in size, which is equivalent of up to 20 million transactions every ten minutes. The record of 45 million transactions in 24 hours is approximately 18GB of data,&#8217; said <a href="https://bitcoinsv.academy/blog/how-to-set-up-a-profitable-and-sustainable-bitcoin-mining-operation" target="_blank" rel="noopener">Lars Jorgensen, CEO of TAAL</a>.</p>



<p>&#8216;The fees for each of these transactions amount to approximately one-thousandth of a US cent – $315 for 45 million transactions. The massive scalability and the extremely low fees demonstrate the broad range of use cases and adaptation possibilities. TAAL is committed to the BSV ecosystem and ensuring these processing capabilities. For us, 45 million transactions is business as usual &#8211; this is what we do.&#8217;</p>


MintBlue smashes proof-of-work record with 50 million transactions


<p>In the latest episode of our <a href="https://www.bsvblockchain.org/news/blockchain-hustlers-video-series-piloted-by-bitcoin-association" target="_blank" rel="noopener">Blockchain Hustlers series</a>, we feature a BSV blockchain superstar: <a href="https://bsvblockchain.org/speakers/dr-maximilian-sinan-korkmaz/" target="_blank" rel="noopener">Dr Maximilian Sinan Korkmaz</a>. Korkmaz is the founder of <a href="https://www.my2cents.io/" target="_blank" rel="noopener nofollow">my2cents</a>, a social media platform that allows users to earn money with their actions.</p>



<p>Kormaz demonstrates my2cents’ suite of tools and explains why he decided to start a new social media network which differs from those dominating Silicon Valley. He also fully demonstrates the platform and how the different site sections work.</p>



<h2 class="wp-block-heading" id="h-what-is-my2cents"><a></a>What is my2cents?</h2>



<p>my2cents allows users to post text, videos, and podcasts on the blockchain and earn money. Notably, my2cents differentiates itself from traditional social media websites such as Twitter, Reddit and YouTube because it does not have a ‘follow’ function. Instead, the platform aims to ‘pay attention to what is said’ instead of ‘who says it’.</p>



<p>No content is shadowbanned on my2cents and aims to promote ideas, feelings and worldviews of people from diverse cultural and socioeconomic backgrounds, thus eliminating confirmation bias. My2Cent does not have an algorithm that determines what is displayed to each user, unlike other social platforms and search engines. Every user sees the same content on my2cents if their ‘recent/top’ settings are the same.</p>



<p>Korkmaz explains that my2cents was founded after a lousy experience with existing social media platforms.</p>



<p>&nbsp;&#8216;The Silicon Valley social media platforms do not respect anything about their users. They don&#8217;t respect their privacy. They don&#8217;t respect their rights. They can easily delete everything (you’ve) created.&#8217;</p>



<h3 class="wp-block-heading" id="h-privacy-and-security-are-paramount"><a></a>Privacy and security are paramount</h3>



<p>By comparison, my2cents is based on the <a href="https://www.bitcoinsv.com/" target="_blank" rel="noopener">BSV blockchain which acts as an immutable ledger for users’ data</a> on the platform. &#8216;If a user chooses to post on-chain on my2cents, their data will never be deleted from the blockchain,&#8217; he said.</p>



<p>&#8216;The micropayment capabilities of BSV blockchain weren&#8217;t implemented well in a social media platform that I would like to use. And I saw a big opportunity there and I wanted to do it.&#8217;</p>



<p>Korkmaz said that the ultimate goal is to make a better social media platform that respects the privacy of the users and enables them to earn money from their content. This means that users will ultimately retain control of their data, even if my2cents should cease to exist one day.</p>



<h3 class="wp-block-heading" id="h-a-social-media-platform-with-a-difference"><a></a>A social media platform with a difference</h3>



<p>Korkmaz noted that my2cents differs from other social networks in several key ways, with all voices seen as equal on the platform. Users can directly follow certain topics and all posts on that given topic are visible.</p>



<p>&#8216;This is different from the Silicon Valley system and there&#8217;s a reason for that. We believe that what is written or what is posted is important &#8211; not who posted it,&#8217; said Korkmaz.</p>



<p>&#8216;This is different from what Silicon Valley companies do. They show only the posts they would like to show. They show only the post that benefits the company, the social media platform, and not the user.&#8217;</p>



<p>Another key differentiator is that users can earn money for the content which they post on my2cents. They can also choose to opt-in to advertising and receive a portion of the payout if they choose to do so.</p>



<p>&#8216;After you’ve posted something if somebody ‘plusses’ your content you will get money for it directly from the user. Plussing is similar to ‘liking’ on other platforms. We have provided an alternative to other platforms where users can also choose if they would like to see any advertisement on my2cents or not. If they choose to see an advertisement on my2cents they receive money from the advertising revenue.&#8217;</p>



<h3 class="wp-block-heading" id="h-bsv-blockchain-is-the-obvious-option">BSV blockchain is the obvious option</h3>



<p>Korkmaz noted that users don’t need to know anything about blockchain to sign-up and use the platform. However, he said that the decision to build my2cents on BSV blockchain was a no-brainer as it ‘just works’.</p>



<p>He added that having a single source of truth promotes honesty and there is significantly less chance of fraud compared to other platforms.</p>



<p>&#8216;Additionally, the <a href="https://www.bitcoinsv.com/" target="_blank" rel="noopener">BSV blockchain</a> is legally compliant. We don&#8217;t want to make an application on a blockchain and then after two years the regulations change and in some countries they say, you can&#8217;t use this blockchain in our country. That&#8217;s not what we want,&#8217; he said.</p>



<p>&#8216;We are confident that BSV blockchain is the only blockchain that provides this assurance to us that it won&#8217;t be banned in any country due to legal reasons.&#8217;</p>



<h3 class="wp-block-heading" id="h-demonstration-of-my2cents"><a></a>Demonstration of my2cents</h3>



<p>This episode of Blockchain Hustlers also includes a demonstration by Korkmaz on how my2cents works, including:</p>



<ul>
<li>How ’topics’ work and how to follow communities that interest you;</li>
</ul>



<ul>
<li>How ‘plusses’ and ‘minuses’ work on the platform, and how users can earn revenue from posts;</li>
</ul>



<ul>
<li>MyVid &#8211; A built-in YouTube competitor which allows users to post and share videos;</li>
</ul>



<ul>
<li>MyBooks &#8211; A feature set which allows users to publish and earn money on books shared on the platform;</li>
</ul>



<ul>
<li>my2cents’ jobs section, podcast features and secondhand portal;</li>
</ul>



<ul>
<li>The integration of wallet features.</li>
</ul>



<figure class="wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Revolutionising social media with BSV | Blockchain Hustlers" width="500" height="281" src="https://www.youtube.com/embed/eSAywKTPseE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>


Blockchain Hustlers: Creating a new social network with BSV


<p>Pacer Labs is ready to build on the Bitcoin SV blockchain and plans to rapidly scale up operations, including everything from mobile development to internship opportunities. However, the biggest opportunities appear to lie in enterprise security, says <a href="https://www.linkedin.com/in/hadiza-saidu-160485a2/" target="_blank" rel="noopener nofollow">Hadiza Saidu</a>, General Manager at <a href="https://pacerlabs.co/" target="_blank" rel="noopener nofollow">Pacer Labs</a>.</p>



<p>Pacer Labs is a software development firm founded in 2021 aimed at filling a gap in Africa’s digital ecosystem. This includes expertise in:</p>



<ul>
<li>Digital product design;</li>



<li>Strategy and insights;</li>



<li>Product management;</li>



<li>Engineering and Q&amp;A;</li>



<li>Delivery management;</li>



<li>DevOps management.</li>
</ul>



<p>Saidu said that while Pacer Labs is still relatively new to the African market, it is ready to build on Bitcoin SV. She added that the firm is currently speaking to government agencies and aspiring developers to see how it can best meet its goals.</p>



<p>‘So what we primarily do is offer custom software development and we also do mobile product development. We focus on digital transformation and work with organisations looking to transform and improve their business process, impacting revenue and meeting business goals.’</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Bitcoin SV is playing a role in the ‘next big thing in Africa’ | Unbounded - Hadiza Saidu" width="500" height="281" src="https://www.youtube.com/embed/gxjVdR8Fyd4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<h2 class="wp-block-heading" id="h-building-software-and-mobile-apps-on-bitcoin-sv">Building software and mobile apps on Bitcoin SV</h2>



<p>Saidu said Pacer Labs is currently exploring the use of the blockchain in its applications, with a specific focus on the Bitcoin SV (BSV). She added that the ultimate goal was to become an implementation partner alongside BSV to deliver applications to potential customers.</p>



<p>‘In the coming months, we would like to have a solid partnership and begin to build our applications using Bitcoin SV. In terms of technology needs, I think security is a very big (concern) in space right now.’</p>



<p>‘A lot of organisations and enterprises want to ensure that their information is secure and they can exchange data knowing that it is secure end-to-end. I think security is a big thing right now, especially in Nigeria and Africa as a whole.’</p>



<p>Bitcoin SV is <a href="https://bitcoinsv.com/feature/security/" target="_blank" rel="noopener">secured with proof-of-work and proven cryptographic algorithms</a>. It is a carefully designed system of incentives whereby the actors (miners and users) involved in the ecosystem are all highly incentivised to invest their time and money into using, maintaining, and improving the network.</p>



<p>The Bitcoin SV engineering team has implemented a professionalised engineering approach to development, including a rigorous security and Quality Assurance process for its software.</p>



<h3 class="wp-block-heading" id="h-africa-is-the-next-big-thing-for-tech">Africa is the next big thing for tech</h3>



<p>In closing, Saidu said that Nigeria has a tremendous pool of tech talent and that government organisations and other stakeholders can do more to foster this talent to improve the development landscape.</p>



<p>‘Africa is the next big thing when it comes to tech talent and we need to have a clear roadmap as to how we can harness that. This is a step in the right direction. I have spoken to a couple of developers and they are very excited about being given opportunities and the associated partnerships.’</p>



<p>‘So we invite people who have hope in Africa, who also see this vision, to come in and participate in the next big thing.’</p>


Bitcoin SV is playing a role in the ‘next big thing in Africa’ – what you should know


<p>In July, Bitcoin Association for BSV partnered with Elas for the inaugural <a href="https://bsvblockchain.org/events/enterprise-blockchain-conference-australia-brisbane-2022/" target="_blank" rel="noreferrer noopener">Enterprise Blockchain Conference in Brisbane, Australia</a>. The summit featured various <a href="https://bsvblockchain.org/news/australian-enterprise-blockchain-conference-brought-together-developers-techies/" target="_blank" rel="noreferrer noopener">presentations from speakers involved with the BSV blockchain</a> and the surrounding ecosystem.</p>



<p>One of the key presentations at the conference was given by Paul Chiari, Founder of <a href="https://metastreme.com/" target="_blank" rel="noreferrer noopener nofollow">MetaStreme</a> and <a href="https://weathersv.app/find" target="_blank" rel="noreferrer noopener nofollow">WeatherSV</a>.</p>



<p>MetaStreme is a robust and scalable Bitcoin transaction engine designed to be simple yet capable of supporting the most demanding applications. Virtually any application can easily harness the power of Bitcoin through Metastreme’s API without the need for complex development.</p>



<p>WeatherSV is a powerful application that demonstrates the ability to index and retrieve climate data immutably stored on a distributed ledger. The tool allows users to search for their suburb, city or town for nearby channels from over 200,000 live weather stations.</p>



<p>Chiari noted that the <a href="https://bitcoinsv.com/history/" target="_blank" rel="noreferrer noopener">unshackling of Bitcoin in 2018</a> was a significant step which gave his team the confidence to build on ideas on how a public ledger can enhance the value and veracity of data. This led to the development of WeatherSV, which became very popular, and has now recorded more than 140 million climate updates from around the world to the Bitcoin ledger.</p>



<p>“Metastreme encapsulates much of the experience we gained in the building and scaling of the Weather SV application. It removes much of the expense and complexity involved in building blockchain solutions as it requires no specialised skills,” said Chiari.</p>



<p>He added that anyone can set up an unlimited free test-net account and get started on a blockchain project.</p>



<h2 class="wp-block-heading" id="h-the-ledger-of-things">The ledger of things</h2>



<p>Chiari said that his team has also developed tools and processes to enable IoT devices to realise the potential of blockchain integration. Dubbed ‘the ledger of things’, Chiari said this allows for markets for verifiable data and micropayments for its collection and dissemination, which will greatly enhance the utility of the IoT industry.</p>



<p>He added that multiple devices, including weather stations, with established BSV network connectivity.&nbsp;</p>



<p>Chiari went on to give a live presentation of how easily developers can build a BSV application using his platform.</p>



<p></p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Building Bitcoin Apps The Easy Way with MetaStreme | Enterprise Blockchain Conference 2022" width="500" height="281" src="https://www.youtube.com/embed/jDwimtFwPoY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<h2 class="wp-block-heading" id="h-metaproof">MetaProof</h2>



<p>Chiari also presented on MetaProof &#8211; his team’s implementation of simple payment verification (SPV). <a href="https://www.bitcoinsv.com/how-spv-helps-to-scale-bitcoin" target="_blank" rel="noreferrer noopener">SPV</a> is a method to prove the existence and integrity of a transaction without having to keep full copies of all the necessary data.</p>



<p>This is achieved through providing only the information to calculate only a Merkle or Hash proof for that transaction. These services are available to all applications using the Metastreme platform and it is compliant with the Bitcoin Technical Standards Committee, Chiari said.&nbsp;</p>



<h2 class="wp-block-heading" id="h-why-bsv">Why BSV?</h2>



<p>Chiari also explained his decision to build MetaStreme and WeatherSV on BSV blockchain. He noted that BSV offers a <a href="https://www.bitcoinsv.com/sustainability" target="_blank" rel="noreferrer noopener">scalable Bitcoin protocol</a> far beyond that offered by competitors, and offers far more utility. </p>



<p>He added that<a href="https://bitcoinsv.com/technology/" target="_blank" rel="noreferrer noopener"> virtually-free and instant transactions</a> are important for many applications requiring data services, microtransactions, high volume throughput and low transaction fees.</p>



<p>“If technology is to survive and prosper then it needs to solve problems and work reliably. Unfortunately most projects in the blockchain space don’t meet these criteria,” he said.</p>



<p>“The Bitcoin protocol has proved itself to be capable of all things required, and I believe BSV is the best place to meet the demand for enterprise-scale applications built on blockchain technology.”</p>


Building Bitcoin apps the easy way with Metastreme


<p>In July, the BSV Blockchain Association partnered with the <a href="https://www.elas.co/" target="_blank" rel="noreferrer noopener nofollow">Elas team</a> for the inaugural <a href="https://bsvblockchain.org/events/enterprise-blockchain-conference-australia-brisbane-2022/" target="_blank" rel="noreferrer noopener">Enterprise Blockchain Conference in Brisbane, Australia</a>. The summit featured various presentations from speakers involved with BSV blockchain and the surrounding <a href="https://www.bitcoinsv.com/projects" target="_blank" rel="noreferrer noopener">ecosystem</a>.</p>



<p>One of the first presentations was given by James Belding, Co-Founder &amp; CEO of Tokenized, who provided an overview on developing smart contracts on the BSV blockchain. Tokenized award-winning all-in-one tokenization solution for institutions, government agencies, enterprises, and individuals.</p>



<p>Belding started his presentation by noting that businesses are trending away from public listing toward private equity markets. He added that contracting within these markets is poorly digitised &#8211; leading to a costly, complicated and slow process. These inefficiencies hinder capital formation, asset services and secondary market liquidity.</p>



<p>Tokenized aims to address this through its smart contracting platform that utilises <a href="https://www.bitcoinsv.com/technology" target="_blank" rel="noreferrer noopener">blockchain technology</a> to vastly improve record keeping in financial markets.</p>



<p>A smart contract utilises a software agent to interpret and enforce certain terms and conditions, as well as automate administrative tasks such as managing transfer requests and updating ownership registries, as well as enforcing rights and managing governance proceedings. This approach results in significant efficiency gains, and a better user experience, across the lifecycle of the contract.</p>



<p>Belding noted that this platform stands out as the contracts are largely human and machine-readable, offer automated contract performance, and all activity is digitally signed and mediated through the BSV blockchain.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Smart Contracts Using a Scalable Distributed Ledger | Enterprise Blockchain Conference 2022" width="500" height="281" src="https://www.youtube.com/embed/ParjribJ5-8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<h2 class="wp-block-heading" id="h-a-new-paradigm-in-contracting-and-asset-servicing">A new paradigm in contracting and asset servicing</h2>



<p>Belding said the ultimate goal was to use blockchain to enable a new paradigm in contracting and asset servicing.</p>



<p>‘In terms of value proposition, it really is about improving the user experience ‘What we are trying to do is take all of the tools that exist today &#8211; such as Word, Adobe, Excel, and Docusign &#8211; and consolidate them into a single platform where every piece of data has a single source of truth.</p>



<p>‘So that piece of data gets updated or changed, everything gets updated in perfect real-time. Currently, you have to manually adjust everything.’</p>



<p>Some of the additional benefits offered by Tokenized include:</p>



<ul>
<li>A desktop and mobile app;</li>



<li>A ‘no-code’ smart contract engine;</li>



<li>The ability to have a fully legal agreement encoded into a smart contract;</li>



<li>Atomic swaps: Allowing for near-perfect P2P trades.</li>
</ul>



<p>Belding also highlighted some of the more novel use cases for the platform outside of the more traditional business contracts, including patent licences and royalty payments.</p>



<p>You can read more about Tokenized and the tools that they offer through their award-winning smart contract platform <a href="https://tokenized.com/" target="_blank" rel="noreferrer noopener nofollow">here</a>.</p>


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