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Bitcoin Cash saw an important development at a time when the cryptocurrency market was collapsing: it split into two independent chains. This caused a battle between the miners of both chains, but since then the dust has stabilized.
Now, Steve Shadders, the Director of Solutions and Engineering of nChain, assures all SV Bitcoins that there will be no more divisions in the future.
Protocol lock
Mr Shadders was speaking on the sidelines of the recent CoinGeek weekly conference in London. It was of the opinion that the recent competition between the broken chains of BCH was caused by the disagreement on whether or not to block the protocol. He is also convinced that this is the main reason why the division occurred in the first place.
As such, Mr. Shadders is working with other developers on the Bitcoin SV chain to block the protocol and prevent further divisions in the future. When asked what will happen when disagreements arise on this decision in the future, Mr. Shadders said miners and developers will cope with any platforms needed to compete and expand optimally.
Larger blocks, much larger blocks
Bitcoin has been repeatedly criticized for its small block size: a block is able to store only about 1 MB of data. This causes many complications, including slow transactions. It is also one of the factors that led to the recent BCH splitting.
Mr. Shadders plans to overcome this constraint by adjusting the size of the blocks to be "much larger". It will do so by taking the vision of the Teranodes of Satoshi Nakamoto a step forward. Teranode technology works by separating processes into four key functions and then adopting a faster and much more effective micro-services architecture approach.
These core functions are Storage Level, Process Level, Business RPC Level and P2P Network Layer.
The question of double spending
It is expected that the implementation of Teranode technology and the expansion of block sizes will create problems related to scalability. Mr. Shadders intends to tackle this problem by building blocks of the same size as terabytes: this will optimize and take into account the database of unspent transaction output and thus avoid double spending and other frauds.
Mr Steve Shadders he is also optimistic that the miners will do everything in their power to prevent double spending and other cases of fraud because it is in their interest.
"It is not in the best interests of miners to compromise the value and integrity of the currency in which they are paid," said Shadders.
However, it is not just miners who are able to spend double, as Mr Shadders noted. He said that other types of double-change transmission will be prevented by existing mitigations that inform traders.
It should be noted that these mitigations are not optimal and many traders may even have difficulty implementing them – however, Mr. Shadders said that developers are currently working to perfect them.
Conclusion
Bitcoin SV is performing relatively well considering the recent BTH division and the current bear market. However, Steve Shadders and other developers are currently working on plans to prevent further divisions in the future.
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