Latest news with #SatoshiNakamoto
Coin Geek
14 hours ago
- Business
- Coin Geek
BSV: Powering decentralized voting systems
Homepage > News > Business > BSV: Powering decentralized voting systems Getting your Trinity Audio player ready... In an era where trust in electoral processes and governance systems is increasingly fragile, the need for transparent, secure, and verifiable voting mechanisms has never been more critical. BSV, a blockchain designed to scale and fulfill Satoshi Nakamoto's vision of a peer-to-peer electronic cash system, offers a groundbreaking solution for decentralized voting systems. By leveraging its immutable ledger, high transaction throughput, and low-cost transactions, BSV can revolutionize voting—from global elections to niche micro-democracies like decentralized autonomous organizations (DAOs) and local cooperatives. This article explores how BSV addresses the challenges of traditional voting systems, its unique advantages for niche voting applications, and its potential to reshape democratic processes. The crisis in traditional voting systems Traditional voting systems, whether paper-based or electronic, face persistent vulnerabilities; centralized databases are prone to hacking, as seen in the 2016 U.S. election interference concerns, while paper ballots can be lost, manipulated, or miscounted. Transparency is often lacking, with citizens unable to independently verify results. In niche contexts like corporate governance or community organizations, inefficiencies in vote tallying and disputes over legitimacy further erode trust. There is a growing public demand for systems that ensure every vote is provable and untouchable. Centralized digital voting platforms, while convenient, introduce risks of censorship and control. Governments or corporations managing these systems can suppress votes, alter records, or exclude participants based on arbitrary criteria. These challenges are particularly pronounced in micro-democracies—small-scale governance structures like DAOs, neighborhood councils, or worker cooperatives—where frequent, low-stake votes require cost-effective, secure solutions. BSV's decentralized architecture and technical capabilities position it as an ideal platform to address these issues, offering a level of transparency and security that traditional systems cannot match. BSV's technical edge for voting systems BSV's design makes it uniquely suited for voting applications. Its unbounded block size—reaching 4GB in recent tests—enables massive transaction throughput, with the BSV Infrastructure Team reporting 1,000,000 transactions per second (TPS) on the Teranode upgrade. This scalability ensures that BSV can handle the high volume of votes required for national elections or frequent micro-votes in DAOs without network congestion or delays. Unlike blockchains like Ethereum, which face high gas fees and throughput limits, BSV's low transaction fees—often below $0.00011—make it economically viable for small-scale, high-frequency voting. The immutability of BSV's proof-of-work blockchain is a cornerstone of its voting potential. Once a vote is recorded on-chain, it cannot be altered or deleted, ensuring a tamper-proof record. Each vote can be timestamped using BSV's native timestamping capabilities, providing a verifiable audit trail. Voters can use Simplified Payment Verification (SPV) to independently confirm their vote was counted, without relying on a central authority. This transparency addresses concerns that verifiable voting is the only way to restore trust. BSV's smart contract functionality further enhances its voting capabilities. Smart contracts can automate vote tallying, enforce eligibility rules, and ensure anonymity where needed, using cryptographic techniques like zero-knowledge proofs. For instance, a voter could prove they meet eligibility criteria (e.g., membership in a cooperative) without revealing their identity. This flexibility makes BSV adaptable to diverse voting scenarios, from anonymous ballots to weighted shareholder votes. Niche applications: Micro-democracy BSV's low-cost, scalable infrastructure shines in niche voting contexts like DAOs, local cooperatives, and community organizations. DAOs, which govern decentralized projects through token-based voting, often face challenges with voter apathy and high costs on other blockchains. BSV's micropayment capabilities allow DAO members to vote frequently without prohibitive fees, fostering active participation. For example, a DAO managing a decentralized fund could use BSV to record daily micro-votes on investment decisions, with each vote costing a fraction of a cent. Local cooperatives, such as agricultural or housing co-ops, can leverage BSV for transparent governance. Votes on resource allocation or leadership elections can be recorded on-chain, ensuring members can verify outcomes. In regions with limited digital infrastructure, BSV's peer-to-peer nature allows offline communities to sync votes via mobile apps, bridging accessibility gaps. These applications, rarely discussed in mainstream blockchain conversations, highlight BSV's potential to democratize governance at the grassroots level. The future: BSV as a voting standard BSV's potential to transform voting extends beyond niche use cases. Its regulation-friendly design, built to comply with legal frameworks, makes it appealing for governments exploring blockchain-based elections. Pilot projects, suggest BSV could underpin national voting systems, reducing fraud and increasing turnout. By integrating with digital identity protocols, BSV could ensure voter authenticity while preserving privacy and addressing concerns about centralized digital IDs. Challenges remain, including educating stakeholders and countering misinformation about BSV's capabilities. However, ongoing developments, such as Teranode's scalability enhancements and the BSV Association's outreach, are paving the way for broader adoption. As trust in traditional voting erodes, BSV's transparent, decentralized approach could become a global standard, from micro-democracies to national elections. Conclusion BSV offers a powerful solution to the transparency and security challenges plaguing voting systems. Its scalable, immutable blockchain, low-cost transactions, and smart contract capabilities make it ideal for both large-scale elections and niche micro-democracies. BSV restores trust in governance processes by enabling verifiable, tamper-proof voting empowering communities and individuals. As the world grapples with democratic deficits, BSV stands poised to redefine how we vote, proving blockchain can deliver on its promise of decentralization and fairness. Watch: State of the Union with John Pitts title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Yahoo
a day ago
- Business
- Yahoo
The Dark Times Are Here. Where Is Bitcoin?
Bitcoin emerged in the darkness of the global financial crisis in 2008. The Bitcoin white paper represented a genuine breakthrough in thinking about coordinating complex systems in a decentralized environment. Though not every idea in it was new, Bitcoin's combination was ground-breaking in its scope and potential for reliability. The Bitcoin white paper was something else as well: a political statement about the inherent untrustworthiness of central banks, banking regulators and governments more generally. Satoshi Nakamoto expressed strong distrust of central banks in early emails introducing Bitcoin, and the Genesis Block itself contains a copy of a London Times headline from 2009, announcing that Britain's Chancellor of the Exchequer was considering a second bank bailout. Bitcoin is supposed to be an alternative to the corrupt and corruptible governments, a bulwark against totalitarian states that removes their power to debase currency and seize assets from the population. Proof-of-Work, its consensus mechanism, is designed to prevent bad actors from corrupting the overall path of the network and self-custody means that no central authority can expropriate your assets. It was designed not just as a system of money, but a source of strength and independence in dark times. But, now the dark times are here, and Bitcoin is missing its moment. The U.S. dollar is the world's leading safe-haven asset, and it is under attack. Huge deficits (6.7% of GDP) and a high debt ratio (121%) along with a deeply dysfunctional government should point to a lot of good reasons for bitcoin to soar. It's mostly treading water (priced at $104,500 as we publish this). I can think of several reasons why. First, Bitcoin simply does not have the track record and staying power of other safe-haven assets. It is not that people are not seeking alternative safe havens; they are. The dollar is sinking against foreign currencies and gold, the oldest of all safe-haven assets, is hitting new highs. Fears about the regulatory position of bitcoin have eased, but access is still limited for many investors. Despite its recent history as a risk-on asset, in theory, bitcoin could be the very best asset in the world for de-risking a portfolio. Its issuance is fixed and the Proof of Work system, if no longer state-of-the-art, is still extremely well-proven. There will never be more than 21 million bitcoin and, no matter how high the price goes, it is not possible to create any more of it. Unlike gold and other precious metals, when prices increase, ever more challenging mining options become feasible, and more gold gets mined. So, is this game over for bitcoin? I think not. Though it would be nice if bitcoin were soaring, this moment may simply have come too soon for bitcoin to be the haven of choice. Fear not; this is certainly not the world's last economic and political crisis. Between now and the next one, bitcoin has some work to do. Bitcoin has one assignment before the next upheaval hits: Prove it can still evolve. That means fixing the three doubts now blocking mainstream capital. First, make self‑custody idiot‑proof—hardware, recovery, and insurance. Serious investors do not want to go dumpster-diving to find their lost hard drives. Memories of past crises, including caps on insurance and 'bail-ins' for wealthy investors, are a reminder that if they are 'not your keys, they are not your coins.' Second, ship a quantum‑resilient signature scheme before quantum computers make private keys passé. Quantum computing's future path is uncertain, but clever people are slowly but steadily making progress in this space. The risk to network security is real, even if the timeline is uncertain. The recent approval of NIST post-quantum signature schemes suggests that this reality is approaching. Third, reverse the miner‑consolidation trend with incentives that keep hash power distributed. Ethereum has done a great job working on resilience, distributing staking activity and building multiple client models. Bitcoin is lagging far behind in this space. We know hard pivots are possible. Five years ago, Ethereum's fees were choking growth; one merge and a roll‑up boom later, it looks nimble and more decentralized than ever. Bitcoin does not need to imitate Ethereum, but it must borrow its urgency. If the community can tick those three boxes, the next flight‑to‑safety could finally land on bitcoin. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Ripple CEO donates ‘skull of Satoshi' in surprise peace offering
While Bitcoin is the largest cryptocurrency, other leading cryptocurrencies, such as Ethereum, XRP, and SOL, are always vying to capture the top spot. Though the intense competition among different crypto assets often leads to heated debates among the community, it ultimately benefits users as blockchain networks keep getting faster and safer due to the continuous efforts of the developers to attract a larger user base. Amid such intense rivalry, Brad Garlinghouse, the billionaire CEO of the blockchain tech and payments firm Ripple, has extended an olive branch to bridge the gap between different crypto communities. On May 28, it came to light that Ripple donated an art installation called the "Skull of Satoshi" to the Bitcoin community. Satoshi Nakamoto is the name used by the pseudonymous individual or group who developed Bitcoin. As crypto and blockchain technologies become widely used, it's time for crypto communities to set aside their differences in order to work together to push the industry forward, Ripple CEO wrote on X. Garlinghouse said though the "Skull of Satoshi" was created to raise awareness about energy usage, it's now a symbol of Bitcoin's "incredible staying power" to individuals around the globe, including himself. He added that BTC, XRP, and other crypto communities have "more in common than we think." Canadian artist Benjamin Von Wong teamed up with Greenpeace USA, a leading environmental advocacy organization, to create the art installation and unveiled it in March 2023. Ripple co-founder Chris Larsen had supported the initiative that criticized Bitcoin for "ravenous" consumption of fossil fuels due to its "outdated" code. However, Ripple's support for the installation was also understood to be a dig at a leading rival. Von Wong later said the installation wasn't meant to be "anti-Bitcoin" and mining wasn't a "simple black-and-white issue," as they earlier believed. The artist hoped that Bitcoin would shift toward a sustainable model. The Bitcoin community nonetheless embraced "Skull of Satoshi," even if ironically. The installation is currently on display at the ongoing Bitcoin 2025 conference in Las Vegas and will find its permanent home at the Bitcoin Museum in Nashville. Ripple CEO donates 'skull of Satoshi' in surprise peace offering first appeared on TheStreet on May 28, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
The only thing better than Bitcoin is...MSTR?
Strategy CEO Michael Saylor, who rebranded the company from MicroStrategy, recently sparked discussion with one of his signature posts on X (formerly Twitter). Strategy currently holds more than 580,000 BTC—and it's not stopping there. Staying true to Michael Saylor's keynote, 'Bitcoin: There Is No Second Best,' the company continues to aggressively accumulate Bitcoin. In a surprising twist, Strategy (MSTR) has outpaced the performance of the Magnificent 7, key market indices, commodities, and even Bitcoin. Now, many investors are asking: Is MSTR a better asset than BTC? Bitcoin purists, referencing Satoshi Nakamoto's 2008 white paper, believe Bitcoin was not designed to be measured against equities or conventional investments. The document describes Bitcoin as 'a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.' 16 years after the white paper's release, BTC is now priced in fiat currencies like the U.S. dollar and routinely compared to traditional investments. Michael Saylor made his first personal Bitcoin purchase in May 2020, followed by Strategy's first corporate buy that August. Since then, Bitcoin has gained institutional support from the U.S. government, BlackRock, Fidelity and other financial giants. With MicroStrategy now rebranded as Strategy, the world's first and largest Bitcoin treasury company, many traditional investors prefer exposure to Bitcoin through MSTR and similar assets, even though Bitcoin was originally designed to function as decentralized, peer-to-peer digital cash. The only thing better than Bitcoin first appeared on TheStreet on May 27, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hypebeast
25-05-2025
- Automotive
- Hypebeast
Satoshi Nakamoto Presents "The Big Tourist" for Spring/Summer 2025
Summary Satoshi Nakamotohas lifted the curtain on another impressive in-line release for Spring/Summer 2025. Entitled 'The Big Tourist,' the captivating new collection once again leans into themes of vintage Americana and athletic aesthetics across a layerable lineup of graphics, outerwear and denim. Standing out in the lookbook is a new colorway ofSatoshi Nakamoto x OTW By Vans Old Skoolsneakers, featuring a light blue canvas upper and the same pearled accenting. Motorsport remains a heavy point of influence for the label, appearing in the form of an oversized long-sleeve 'SN Racing' graphic tee and a patched 'Movie Star Satoshi' leather jacket; the jacket's design is emulated on a 'Movie Star' patchwork hoodie. The label also continues to lock in on its own lettering, stamping different branded hits on a diverse delivery of graphics. One tank comes emblazoned with silver stars throughout the silhouette and a bright blue 'Satoshi Nakamoto' logo across the middle. Stars also surface (surrounded by silver jewels) on a gray sweat set, which comes hit with subtle cursive branded signatures on both the crewneck and the pants. Another graphic tee features a trippy two-handed graphic in the middle with 'Satoshi' written underneath in studs; the sleeves and waistline are similarly outlined in gold studs while the back of the shirt reads 'WELCOME TO THE MACHINE' with the same 'Satoshi' lettering underneath. As for bottoms, the brand brings back some more camouflage cargos, alongside some textured light-wash denim shorts and pants. Take a closer look at Satoshi Nakamoto's The Big Tourist Spring/Summer 2025 collection in the lookbook above. The collection is set to drop at some point today, Sunday, May 25, at the brand's officialwebsite, though a time hasn't been announced at the time of writing.
