Latest news with #Teranode
Coin Geek
08-08-2025
- Business
- Coin Geek
State of chain—Teranode update on CoinGeek Weekly Livestream
Homepage > News > Tech > State of chain—Teranode update on CoinGeek Weekly Livestream Getting your Trinity Audio player ready... On episode 31 of the CoinGeek Weekly Livestream, Siggi and Ásgeir Óskarsson gave a Teranode update and talked about what the BSV Association (BSVA) is up to. The conversation outlined how massive scaling is in the pipeline and why it matters. 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=""> What's it like being a Bitcoin OG in Europe? Host Kurt Wuckert Jr. begins by noting that many Europeans are newer to Bitcoin than their American counterparts. He asks what Europe is like for two people who got into Bitcoin in the early days. Ásgeir says he has known about Bitcoin since 2012/2013 when his brother Siggi offered to pay him back some money in BTC. However, he was working in a bank at the time and his focus was elsewhere, so he didn't get involved until recently. He doesn't consider himself a Bitcoin OG, but he has followed the thread since then and has always kept up with Bitcoin's evolution. Siggi says that, in Zug, where they're based, some avoid them while others are interested in what they're doing. Ásgeir says that many C-level executives are fascinated to hear that the big blockers are still around and scaling Bitcoin. What is Ásgeir Óskarsson's grand vision? Wuckert points out that there have been several BSVA managing directors in the past few years. He wonders what Ásgeir's grand vision is. Ásgeir clarifies that he and Siggi hold a joint leadership position. While he's the head man on paper, in reality, they run things together. He had been with BSVA for a year before he was called into leadership, and during that time, he was actively involved in every project and developed a broad overview of the protocol, ecosystem, and how everything works. As for the vision, he's focused on developing the tech stack, making it easier to build on BSV, and helping others in the ecosystem secure commercial opportunities. He won't say too much more; they're still at the beginning of their journey, and there's much more in the pipeline. In a nutshell, they're focused on connecting parties and building bridges. A message to BSVA critics Wuckert highlights how BSVA has its supporters and critics, and how some are opposed to it on principle. He asks the Óskarssons what they'd like to say to the critics. Ásgeir says that BSV is a public blockchain, and anyone can build on it. He fully supports people like Dr. Roy Murphy who is building his own node software. He encourages others to do the same. BSVA exists to support businesses and developers, not to stand in their way, Ásgeir clarifies. Everyone else is free to do what they want. The Association exists to encourage businesses to adopt the blockchain and educate, inspire, and provide resources. For example, Teranode was expensive to develop and test, so they helped with that. Siggi, who was around in Bitcoin's early days and has seen the entire saga unfold, says those early days are well and truly in the rearview mirror. He emphasizes that BSVA is there to support and not to control. He likens it to the Linux Foundation. It supports, educates, provides standards, etc., but it still needs the red hats to go out and build apps. When the killer app comes, and it will, BSV is the only blockchain that can scale to support it. 'We're playing the long game,' he says, and while that can suck in the short term, it leads to ultimate victory. Exchanges, liquidity, and development Wuckert mentions the recent delisting of BSV on OKX. He wonders if BSVA is doing anything to help secure new listings to improve liquidity. Ásgeir says there have been many positive conversations going on behind the scenes. The OKX delisting was unfortunate and unexpected, but these things happen. In his view, it isn't just about getting listings—it's also important to partner with exchanges to educate about BSV and market it. He reminds us that exchanges are all about volume, and we as individuals can support that in our own ways. Aside from exchanges, they're focused on what the tech can do. There are lots of projects around identity, on-chain wills, healthcare records, and more from Uganda to Argentina and beyond. Teranode update Wuckert asks the question everyone has been waiting for: What's happening with Teranode? Siggi says it started about two years ago, and the team made some initial errors they had to go back and fix. They were aiming for a Q2 2025 release, but they haven't met the technical metrics they set for themselves in the beginning yet. However, they're close. Teranode will be opening to more people to test in the coming weeks. They're ironing out some technical issues with the file database, concurrency, etc. Siggi understands why some people are frustrated with the delays and lack of updates, but it's because the team is so focused on getting Teranode to work. Siggi wishes he could say when they'll be fixed. He points out that the solutions aren't that difficult, but finding them and retesting to make sure everything still works will take time. They won't rush, and they won't cut corners just to release it faster. To hear more about Teranode, AI and LLMs, and why it's important for businesses to have a reason to use the blockchain, check out the livestream episode here. Watch: Teranode is the digital backbone of Bitcoin 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="">
Coin Geek
15-05-2025
- Business
- Coin Geek
BSV-powered micropayments for pay-per-use infrastructure
Getting your Trinity Audio player ready... As digital infrastructure—public Wi-Fi, cloud storage, Internet of Things (IoT) devices—becomes ubiquitous, the need for seamless, low-cost payment systems grows. BSV, with its ultra-low transaction fees and high throughput, is uniquely positioned to create micropayment ecosystems for pay-per-use digital infrastructure. From incentivizing decentralized computing networks to enabling real-time payments for smart meters, BSV offers a scalable, secure framework that traditional payment systems cannot match. This article explores how BSV addresses the monetization challenges of digital infrastructure and its potential to reshape how we access and pay for digital services. The micropayment gap in digital infrastructure Digital infrastructure relies on microtransactions to monetize usage, but traditional payment systems like credit cards or bank transfers are too costly for small-value transactions. For example, charging $0.01 for a minute of public Wi-Fi incurs processing fees that exceed the revenue. This gap stifles innovation in pay-per-use models, from decentralized cloud storage to IoT-enabled smart cities. So, how do we make cents viable? Blockchain-based micropayments offer a solution, but most blockchains are ill-suited for high-frequency, low-value transactions. Ethereum's high gas fees and BTC's limited throughput make them impractical for infrastructure-scale use. BSV, with its scalable architecture and near-zero fees, fills this niche, enabling a new era of pay-per-use digital services. BSV's technical strengths for micropayments The BSV blockchain is built for scale. Its unbounded block size supports 1,000,000 transactions per second (TPS), as demonstrated by Teranode, making it capable of handling billions of microtransactions daily. Transaction fees, often below $0.00011, allow providers to charge fractions of a cent without losing profitability. BSV's Simplified Payment Verification (SPV) enables lightweight clients, such as IoT devices, to process payments efficiently, reducing hardware requirements. BSV's smart contracts add flexibility to micropayment ecosystems. Providers can automate billing based on usage—such as data consumed or application programming interface (API) calls—while ensuring transparency through the immutable ledger. For instance, a smart contract could release payment only when a Wi-Fi session is verified, preventing disputes. BSV's scalability of micropayments would likely create a wave of new business models. Niche applications: Monetizing infrastructure BSV's micropayment capabilities enable innovative use cases. Public Wi-Fi networks, often free or ad-supported, could adopt pay-per-use models, with users paying $0.001 per megabyte via BSV wallets like HandCash. Decentralized computing networks, similar to Filecoin, could use BSV to incentivize nodes with micropayments for CPU cycles or storage, creating a global marketplace for compute resources. IoT devices, such as smart meters or electric vehicle chargers, benefit from BSV's real-time payment capabilities. A smart meter could charge $0.01 per kilowatt-hour, settling payments instantly on-chain. This reduces billing overhead and enables dynamic pricing. BSV's low costs also make it viable for niche APIs, where developers pay per query, fostering innovation in data-driven services. The future: A micropayment-driven economy BSV's potential to monetize digital infrastructure is gaining traction. Platforms are building micropayment frameworks, while the BSV Association (BSVA) promotes adoption in IoT and smart city projects. As digital infrastructure expands, with the global IoT spending projected to hit $1.1 trillion by 2028—BSV's scalable, low-cost payments could become a standard. Challenges include user adoption and integration with existing systems. However, BSV's regulation-friendly design and growing ecosystem position it for success. By enabling pay-per-use models, BSV could transform how we access digital services, from Wi-Fi to cloud computing. Conclusion BSV's ultra-low fees, high throughput, and smart contract capabilities make it a powerhouse for micropayment ecosystems in digital infrastructure. Its ability to monetize public Wi-Fi, decentralized computing, and IoT devices unlocks new business models and fosters innovation. As the demand for seamless, low-cost payments grows, BSV stands ready to redefine how we pay for digital services, proving that micropayments can drive the next wave of digital transformation. Watch: Peer-to-peer electronic cash system—that's micropayments 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="">
Coin Geek
07-05-2025
- Business
- Coin Geek
152 million transactions in a day: Another new record for BSV
Getting your Trinity Audio player ready... The BSV blockchain is proving once again that it's the network to beat for transaction throughput. On May 2-3, 2025, BSV processed 152 million transactions in 24 hours. Those transactions were all processed on-chain and at low cost compared to other blockchain networks, secured by proof-of-work (PoW). BSV uses Bitcoin's original protocol rules for processing transactions, and the network has operated since January 2009. With the upcoming Teranode protocol upgrade promising even greater capacity, BSV shows that on-chain scaling with larger transaction blocks does work. Bitcoin has always been capable of unbounded scalability, rivaling dollar-based digital payment networks without 'sidechains' or exotic new processing algorithms. Let's look at some previous records to put those figures into context. BSV processed 35 million transactions in 24 hours back in September 2022. mintBlue pushed it to 50 million in March 2023, topped by Vaionex with 86 million just two months later. In December 2024, it was 90.8 million. Notably, the average per-transaction fee on BSV around May 2-3, 2025, was US$0.00137. Even that price represented a significant spike compared to other days over the past year. This means that large-volume days don't present any substantial cost increases for casual users, such as those sending one-off small payments in BSV or stablecoins, or trading non-fungible tokens (NFTs). I have just requested that @GWR @GWRJapan @gwr_es Guinness World Records recognises the phenomenal achievement set by the bsv blockchain in becoming the highest amount of transaction in a 24hour period with over 152 million txts. I would ask others to request this record, and… — 1 (@369bsv) May 3, 2025 BSV is capable of processing far more data than just payments. It could handle any number of enterprise- and government-tier data applications without them coming at the expense of daily payment usage. Its on-chain records are secure and auditable, and any confidential data in its transactions can be encrypted to stay private. Do you feel stressed? BSV: Not much The high transaction volumes on BSV are likely due to ongoing stress tests by blockchain explorer Bitails. According to co-founder Meysam Rezaei, the purpose of the tests was to push BSV to its capacity limits under current conditions, i.e., with transaction processors running the SV Node protocol software. By stress testing the network using existing resources, Bitails 'prioritized performance and cost efficiency to meet deployment needs,' and to identify target areas for more efficiency and performance gains. — Bitails (@BitailsAPI) May 5, 2025 Bitails found the BSV mempool (transactions waiting to be processed) could sustain around 8,000 transactions per second (TPS) with 'some issues.' Further testing will take place at a later date to see if any issues can be resolved. However impressive the results may look now, they're expected to be temporary—the Teranode upgrade is due for general release soon, which should allow for a marked increase in transaction-processing capacity. Services like GorillaPool use a custom setup, but like most processors (miners) are still working with SV Node. The stress tests taught us a lot. The biggest thing we learned is that we are roughly 3 years ahead of the humans when it comes to connectivity and throughput, but they have a lot more hash power. What does that mean for the network? Well, it means that we provide better,…
