BSV Blockchain Announces Teranode Upgrade, Aiming to Challenge Payment Giants
Teranode development team introduces new design features to boost BSV Blockchain’s efficiency and speed, positioning it as a formidable competitor to payment networks like VISA and Mastercard.
The BSV Blockchain Association has unveiled groundbreaking design features for its Teranode upgrade, propelling the BSV Blockchain’s capabilities to a million transactions per second and beyond. With a more service-oriented approach, the network aims to challenge major payment networks like VISA and Mastercard. This article explores the new features of the Teranode upgrade and its potential impact on the digital economy.
Teranode: A Major Upgrade for BSV Blockchain
The Teranode upgrade, a ground-up rewrite of the BSV blockchain’s architecture, is set to revolutionize the network’s scalability and efficiency. With a modularized approach, functions such as transaction and block validation, and block assembly, are transformed into services that run only when required. Additionally, individual transactions within each block are segmented into “subtree” batches, allowing nodes to inspect them while the block is still being mined.
The Power of Teranode Microservices and Subtrees
Teranode introduces 14 microservices that handle different network and validation functions, including propagation, transaction validation, block assembly, and block validation. These microservices work together concurrently, enabling the network to scale horizontally. The larger the network grows, the more efficient it becomes, as additional computing resources can be allocated to specific services under heavy load.
The of subtrees in Teranode brings significant improvements in transaction validation speed. By pre-approving transactions within subtrees, validation becomes quicker and closer to real-time. This addresses one of the main criticisms directed at Bitcoin and blockchain, which is the slow speed of transaction validation. With Teranode, senders and recipients can expect their transactions to clear within seconds, enhancing both speed and security.
Unbounded BSV: The Answer for the Digital Economy
Unbounded BSV (UBSV) is the key to scaling the BSV blockchain to meet the demands of the digital economy. Unlike the artificially-limited BTC network, which restricts transaction block sizes to 1MB, UBSV has no size limit, enabling limitless transactions per block. With the ability to process over a million transactions per second, UBSV offers the lowest-possible fees and the scalability needed for the digital economy.
Challenging Payment Giants and Beyond
With the Teranode upgrade and the UBSV model, the BSV blockchain has positioned itself as a formidable competitor to traditional payment networks such as VISA and Mastercard. The network’s ability to handle any volume of additional data, combined with its global digital payments capabilities, makes it an attractive option for the rapidly expanding digital economy.
Conclusion:
The Teranode upgrade marks a significant milestone for the BSV blockchain, enhancing its scalability, speed, and efficiency. With the of modularized services and subtrees, the network is poised to challenge major payment networks and revolutionize the digital economy. The unbounded nature of BSV Blockchain’s UBSV model ensures limitless transactions per block, making it an ideal choice for businesses and individuals seeking a fast and cost-effective digital payments solution. As the digital economy continues to grow, the BSV blockchain is well-positioned to meet its demands and drive innovation in the blockchain space.