ZUG, Switzerland, January 15, 2024 – Today, the BSV Association R&D team has announced groundbreaking features for Teranode that will significantly boost network efficiency and speed, pushing BSV’s capabilities to 1 million transactions per second in the not-too-distant future.
Teranode solves vertical scaling challenges on the BSV network by serving high-volume transaction nodes for enterprise and government use. Whether contracting with nodes or running their own, these clients drive the Teranode initiative.
Protocol custodian BSV Association revealed a more service-oriented approach to the network’s work. The new features include ‘modularized’ functions such as transaction and block validation, plus block assembly into services that run only when required.
Teranode is soon to begin extended and sustained testing on a Proof of Concept implementation this month, with a full node release later in 2024. This is a significant upgrade for the Bitcoin node software, and it is a ground-up rewrite of the BSV Blockchain architecture, designed to scale horizontally and provide new microservices for developers, applications, and users.
The Teranode upgrade is critical for BSV Blockchain’s unbounded scaling potential and will deliver faster, secure and cheaper transactions for all.
BSV will be able to scale to any size required, maintaining speed and the lowest possible network fees. This contrasts with the artificially limited networks in the market. Despite media and social hype claiming these alternative chains are the ‘money of the future,’ these networks cannot be used as money since they can only process limited transactions per second. This artificial limitation creates high fees and long waits.
The digital economy demands a network that can process big data at speed and securely. With Teranode, BSV Blockchain is simultaneously a global digital payments network that can handle any data requirements, from Internet of Things (IoT) applications and devices to enterprise or government contracts.
The Bitcoin protocol has proven its reliability for 15 years, and Teranode allows it to challenge the world’s major payment networks, the internet, and a rapidly expanding digital economy.
About BSV Blockchain
One Blockchain for Everyone.
The BSV Blockchain leads BSV for Enterprise and Government initiatives. This Switzerland-based global non-profit industry organization supports the use of the BSV blockchain. The organisation oversees the creation of technical standards and educates enterprises, government agencies, start-up ventures, developers, and users on creating a global blockchain ecosystem. The original Bitcoin protocol and its scripting language provide powerful technical capabilities that BSV has restored.
