BSV Blockchain Unleashes Teranode Upgrade, Paving the Way to Challenge Major Payment Networks
Teranode’s new design features enable BSV Blockchain to achieve a million transactions per second, positioning it as a formidable competitor to industry giants like VISA and Mastercard.
The BSV Blockchain Association has unveiled a groundbreaking upgrade to the BSV blockchain called Teranode. This upgrade introduces a range of new design features that significantly enhance the network’s efficiency and speed, enabling it to process a staggering one million transactions per second. With this development, BSV Blockchain is poised to challenge major payment networks such as VISA and Mastercard, as well as revolutionize the entire digital economy.
Teranode: A Game-Changing Upgrade
Teranode represents a major leap forward in the Bitcoin node software. It is a complete overhaul of the BSV blockchain’s architecture, designed to scale horizontally and introduce new microservices for developers, applications, and users. Despite these advancements, Teranode remains true to the fundamental principles laid down by Bitcoin’s creator, Satoshi Nakamoto, 15 years ago.
Modularized Services and Transaction Subtrees
One of the key features of Teranode is the of modularized services and transaction subtrees. These services, such as transaction and block validation, and block assembly, are now divided into separate modules that only run when required. Additionally, individual transactions in each block are segmented into “subtree” batches, which can be shared across the network for inspection by nodes, even during the mining process.
The Power of Working Together
The true power of these modularized services and subtrees lies in their ability to work together. Machines on the network can now perform different tasks concurrently, rather than sequentially. This horizontal approach to scaling ensures that as the network grows, it becomes more efficient with the application of additional hashing power.
Advantages of Teranode’s Architecture
Teranode incorporates at least 14 microservices, each handling different network and validation functions. These services include propagation and transaction validation, block assembly, UTXO lookup, banlists, and transaction submission. A Message Broker facilitates communication between the services, while a TX Status Store tracks the status and metadata of transactions within the system. This modular architecture allows transaction processors to allocate additional computing resources to specific services under heavy load, ensuring optimal performance.
Real-Time Transaction Validation
With the of subtrees, transactions can now be “pre-approved,” significantly reducing the time required for validation. By including only the TXID in a subtree batch, nodes can confirm their awareness of relevant transactions without the need for repeated data broadcasting. This improvement in speed and security addresses one of the key criticisms of Bitcoin and blockchain technology, making it more viable as a digital payments system.
Unbounded BSV: The Answer for the Digital Economy
Unlike its counterpart BTC, which limits transaction block sizes to 1MB, Teranode enables unbounded scaling for the BSV blockchain. This means that the network can accommodate any volume of transactions while maintaining speed and low fees. BTC’s artificial limitations have resulted in high fees, long wait times, and hindered innovation. In contrast, BSV’s limitless scalability positions it as the ideal solution for the ever-expanding digital economy’s data processing needs.
Conclusion:
The Teranode upgrade represents a significant milestone for the BSV blockchain, propelling it into direct competition with major payment networks and positioning it as a driving force in the digital economy. With its modularized services, transaction subtrees, and unbounded scalability, BSV Blockchain is set to revolutionize the way transactions are processed and pave the way for a faster, more efficient, and cost-effective digital payments system.