Safe, Instant Transactions at a Predictably Low Cost

From the outset, Bitcoin was designed with scalability in mind. In order to scale to a system capable of managing global demand, some less intuitive design choices were made. These choices determine how we manage the accounting of tokens on the network, how the tokens operate when they are exchanged and much more.

Elements such as the low-level scripting language, which resembles an early assembly-like language called Forth, counterintuitive data formats and innovative economic assumptions have made becoming an expert in the technology difficult and demanding. As a result, Bitcoin's idiosyncratic design choices have not been well understood leading to erroneous beliefs such as that it can't scale without additional layers or is not flexible enough to provide features like smart contracts.

These naive assumptions have resulted in years of debate and eventually led to developers changing the base protocol, permanently altering its incentive structure and preventing it from scaling.

In response to the self-imposed scaling and functionality limitations, a plethora of attempts to solve them have sprung up, collectively known as 'cryptocurrency'. Unlike Bitcoin, which was borne out of decades of research, cryptocurrencies have little to no research or academic basis. The idea that 'crypto' can solve blockchain scaling by creating a multitude of blockchains for every conceivable use-case has ultimately led to it not being able to provide any use-case beyond market speculation.

The Bitcoin protocol was designed to support any and all kinds of transaction. From secure time-locked trusts, hierarchical accounts, streaming or conditional payments, complex transactions can be defined in a scripting language and wholly managed by the network, radically reducing the cost of business management and customer interaction.

Thanks to tremendous contributions from professional research and development teams the changes made to the underlying Bitcoin protocol under erroneous assumptions have been almost entirely reverted on the BSV Blockchain, and the protocol in use on the BSV network has been returned to as close to the original Bitcoin protocol as possible.

Development of the node client software has leveraged Satoshi's seemingly unconventional design choices leading to massive breakthroughs in network throughput, capacity and capability. The development of infrastructure and software continues with the upcoming release of Teranode, a completely reworked node client particularly suited to cloud micro-service architectures.