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Author Topic: [ANN] [BSV] [Bitcoin SV] Original Satoshi Vision  (Read 22752 times)
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human8ty
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March 16, 2019, 01:35:48 PM
Last edit: March 16, 2019, 01:53:03 PM by human8ty
 #141


https://coingeek.com/steve-shadders-bitcoin-svs-128mb-blocks-proves-scaling-potential/
And scaling what the limits allow. Why so less ppl get that this'll be the most important task for global adoption of Bitcoin into a new highly secure protocol ( not low LN standard one) ??

Scaling up is one step; Many undiscovered steps, people themselves do not know the possibilities of the blockchain. It is still a young technology the impact caused by "maintained blocks" is as if you were trying to "explained what is railway to ants" in the head of a generalized standard audience.

They invest in others because others bait them at 80% with "providential gains", "flash trades ultra rapid" and other "income guarantees" through tweeting, fake websites, written words and other banner ads... There are however "valid" projects, but the culture of individualism is too strong, no talent consortium currently because the deep approach is not really accessible on research itself, at least not yet, economic attraction is what makes a huge brain waste. However, tomorrow's allies may be your enemies today. It all depends on the evolution of everyone.
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March 16, 2019, 01:39:27 PM
 #142

Pls help me understand what happened to internet lovers, voting for bcore crap. I still don't get it.  Huh



If you wanted to understand this, tell yourself that you are in a time of learning, maturity will come. The Internet is now in 2019 an outlet, like a parallel digital world where people believe they can do anything and know that they will go unpunished in almost all cases and sectors including crypto currencies.


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March 16, 2019, 01:42:20 PM
 #143

This is a very young era since the creation of an information unification network open to the public worldwide. Consider this, as an evolution, the pioneers were passionate because you had to master and want to connect, addressed to a social class of engineers and equivalent. Then came the "public" generation with the discovery effect, the time has run out, the network has grown in unlimited, so have the people. The transmission of information has developed, without "universal rules" with abuses of social behaviour, young and old "all public" have grown up without any inculcation of socioligic and ethical limits, they are human beings it is normal. Add to that the generalized idiocracy moment in the process of reaching a peak within a few years. But not before the whole planet is connected because there are still many idiots who have not yet explored the limits and reach their full potential. Many people seek extraterrestrial life in the stars when he does not suspect that this "consciousness" will emerge "from within" perhaps is it already there? The creation and fruit of human beings, which "places them among the stars" and then comes the time of the "machines" that "will place them among the //▲_▲_▲_▲_▲".
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March 16, 2019, 01:42:55 PM
Last edit: March 16, 2019, 03:35:12 PM by jamespastagueule
 #144


Blockchain, A.I., I.O.T. Metanet, Quantum, Holograms, Sensor and other undisclosed communication technologies are the technological pioneers, which will define the foundations. Just like BSV and Metanet is concerned. You will have several decades of work and education. See the time wasted on social networks, could be used for other things than adrenaline from "tweet to like", time spent with family would be essential, time for work and family is a universal basis. You are your own slave. Be aware that there are still men and women who build the world knowingly, they are not all a lost cause but by pulling on the rope, the Internet may break, the blockchain but not.
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March 16, 2019, 02:09:51 PM
 #145

Blockchain, A.I., I.O.T. Metanet, Quantum, Holograms, Sensor and other undisclosed communication technologies are the technological pioneers, which will define the foundations. Just like BSV and Metanet is concerned. You will have several decades of work and education. See the time wasted on social networks, could be used for other things than adrenaline from "tweet to like", time spent with family would be essential, time for work and family is a universal basis. You are your own slave. Be aware that there are still men and women who build the world knowingly, they are not all a lost cause but by pulling on the rope, the Internet may break, the blockchain but not.

this Blockchain technology can not be destroyed. there are those, who come out of this process, there are those - who come. it moves in any case. because, I consider it a rather perspective and well thought out solution. the main thing, is that people understand the true value of this and began to use it for their own benefit
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March 16, 2019, 02:18:36 PM
 #146

Blockchain, A.I., I.O.T. Metanet, Quantum, Holograms, Sensor and other undisclosed communication technologies are the technological pioneers, which will define the foundations. Just like BSV and Metanet is concerned. You will have several decades of work and education. See the time wasted on social networks, could be used for other things than adrenaline from "tweet to like", time spent with family would be essential, time for work and family is a universal basis. You are your own slave. Be aware that there are still men and women who build the world knowingly, they are not all a lost cause but by pulling on the rope, the Internet may break, the blockchain but not.

this Blockchain technology can not be destroyed. there are those, who come out of this process, there are those - who come. it moves in any case. because, I consider it a rather perspective and well thought out solution. the main thing, is that people understand the true value of this and began to use it for their own benefit


Of course, I join you, but aren't "real values" fungible according to the times?
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March 16, 2019, 02:35:08 PM
Last edit: March 16, 2019, 03:34:46 PM by jamespastagueule
 #147


If you want to follow BSV's latest technical advances in detail then it's here:

The Bitcoin World (BSV) woke up on March 8 with exciting news. The nChain BSV Node team announced that it had successfully maintained an average block size of 128 MB on 144 blocks over a 24-hour period. We discussed the details with Steve Shadders, Director of Solutions and Engineering at nChain.

We started by talking about what this meant for both nChain and the BSV network. Shadders says:

"What this means and what convinced the SV team, without a shadow of a doubt, is that raising the block limits beyond what current software can handle will not tip the sky and will offer a real advantage. We have come to improve the software so that it can manage it for two reasons: 1. we are actually trying to exceed the old limits when performance changes are made and 2. This imposes a certain degree of healthy pressure on us to keep our eyes on the target, which is the ability to scale up. "

Now that we know that Bitcoin SV is able to manage these large blocks, what can we expect to see from companies and applications?

"Just having the capacity available now and giving application developers the assurance that we have a roadmap to ensure that the capacity will always be there will make a big difference for businesses and developers in this space. The good ideas that were previously put aside because they needed capacity are dusted off. The new possibilities of an evolving Bitcoin are also beginning to permeate the collective consciousness of Bitcoin application development communities and we are witnessing an explosion of creativity.

"Not all ideas resist, but even those that are not used to fuel new ideas. In a world where your idea is simply something that you may one day be able to do in the future if a group of computer scientists agree to change a limit, there is not much motivation to get up from bed and build it now. This is no longer the case and ideas can only become reality days or weeks after the first spark of creativity. ”

Let's talk more about how this was done. Did the team do this with the new node software, from the existing version of BSV 0.1.1.1?

"The Scaling Test Network (STN) is a combination of the latest stable version software (v0.1.1) and various development versions with various new performance features. This allows us to test the impact of some of these features in a relatively controlled way. In addition to checking for interoperability issues with the stable version.

"The Bitcoin network is a living entity with many complex interactions governing its behaviour. It is therefore important to have a little diversity of software versions in order to be able to reproduce these interactions."

Do you think that the success of the test is based on these "laboratory conditions"? Do you think this will happen on the network?

"There is certainly an element of laboratory conditions since we use the TNC to conduct research on scaling up behaviours related to the bitcoin network. Sometimes we test a very specific problem and we will see different side effects due to the choice of the mechanism used to load the network.

"I therefore think it is reasonable to expect that the main network will always lag behind the STN network by a few months in terms of scalability. Which is as it should be. The STN is intended for research and advanced code. The main network aims for stability. The TNC is also a tool to improve this stability. Not just by looking for new ways to cross the boundaries. But by providing an environment to test what are the safe limits for the main network. ”

How long before we can see this result in a real world test?

It is difficult to gauge accurately. But what matters most to Mainnet is that its supply capacity remains at least an order of magnitude in relation to demand. We therefore have the ability to manage peak demand in the short term without affecting the user, as we often see on BTC (Bitcoin Core). We are currently seeing steady and steady growth due to the size of the transactions and steady but slower growth due to the volume of transactions. At the moment, we have a very large margin of safety. And while I expect to see the rate of growth in Mainnet's growth, we are improving software capacity at a rate fast enough to stay well ahead of the curve.

When do you think we could see the block size increase to 512 MB?

When we talk about 512 MB block size limits, we need to establish what the increase in this limit unlocks. There are two types of block sizes that interest us. Intermittent peaks and sustained flow. Intermittent peaks may be expected rarely but can be 10 or even 50 times the size of the supported block size. We already have 128 MB on the STN for both peaks and maintained for 36 hours. And since we had a 108 MB block on the network with an earlier version of the software that did not benefit from some performance improvements, it is not an exaggeration to think that the network can reach 128 MB at this time. Even if 128 MB of supported space is not yet available, the size of the block should not limit larger peaks.

I therefore believe that the TNC limit should be increased to at least 512MB for the time being. And that the Bitcoin SV ecosystem must start planning a minor protocol upgrade in the coming months to increase the maximum block size on the main network.

Sourcing of interview: https://coingeek.com/steve-shadders-bitcoin-svs-128mb-blocks-proves-scaling-potential/




512 will allow to place a good number of transactions in a block it is interesting! I wonder what is the value of Visa, Amex and Mastercard in equivalence transfers?
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March 16, 2019, 03:08:47 PM
Last edit: March 16, 2019, 03:29:31 PM by human8ty
 #148

Maybe here is a very small brief overview of the standard commercial applications of BitcoinSV BSV in the coming years.

https://ibb.co/fHDLWG9

Maybe a free and secure multi-language application accessible to everyone in all countries and allowing a transfer in less than three clicks will be necessary, perhaps it is already on the way. A focus is the language translated to be understood and adopted. BSV may need to develop translations ?
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March 16, 2019, 03:15:39 PM
Last edit: March 16, 2019, 03:34:30 PM by jamespastagueule
 #149


I'll look into it, when's your next jump coef?
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March 16, 2019, 03:20:45 PM
 #150

Mine is in G18-Sol0414.்8-706|ப.14.43.02.4100.4792921
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March 16, 2019, 03:47:35 PM
Last edit: April 15, 2019, 03:26:35 PM by mprep
 #151

Pre version analysis

https://news.bitcoin.com/satoshis-pre-release-bitcoin-code-contains-some-fascinating-findings/




https://coingeek.com/steve-shadders-bitcoin-svs-128mb-blocks-proves-scaling-potential/
And scaling what the limits allow. Why so less ppl get that this'll be the most important task for global adoption of Bitcoin into a new highly secure protocol ( not low LN standard one) ??

Scaling up is one step; Many undiscovered steps, people themselves do not know the possibilities of the blockchain. It is still a young technology the impact caused by "maintained blocks" is as if you were trying to "explained what is railway to ants" in the head of a generalized standard audience.

They invest in others because others bait them at 80% with "providential gains", "flash trades ultra rapid" and other "income guarantees" through tweeting, fake websites, written words and other banner ads... There are however "valid" projects, but the culture of individualism is too strong, no talent consortium currently because the deep approach is not really accessible on research itself, at least not yet, economic attraction is what makes a huge brain waste. However, tomorrow's allies may be your enemies today. It all depends on the evolution of everyone.

Scaling up from hobby version is most important if u want to go for global protocols and want any recognition and help by different groups and ppl.

Expectation management is absolutely a thing that decides about success or failure.

So Bitcoin is ready for years but got hit back 2 times now.  If its dna is anti fragile ( esp in case of removing any middle men, also Blockstream and Bitmain) bsv will be stronger than ever.

Get facts straight and look behind any social 'proofs'.

Carpe diem  -  understand the White Paper and mine honest.
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw  -  https://metanet.icu/
The simple way is the genius way - in Moore's Law and Satoshi's WP we trust.
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March 16, 2019, 04:47:29 PM
Last edit: March 17, 2019, 02:09:31 AM by human8ty
 #152

For that, still would it be necessary to be understood in all languages and receive unfailing attention, don't you think?

The future is yours! Please, focus on your work, the world is growing, learning is progress, it is children who will learn.

For all people:BSV need you !

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March 19, 2019, 01:02:27 AM
Last edit: April 15, 2019, 03:26:49 PM by mprep
 #153

 
Looks like BSV now needs a new 'leader' ...

‘Bitcoin Creator’ Craig Wright “Satoshi Nakamoto” Deletes Twitter Account After Getting Heckled?

- https://cryptoslate.com/bitcoin-creator-craig-wright-satoshi-nakamoto-deletes-twitter-account-after-getting-heckled/

 Roll Eyes

Extrapolation !


More baseless insinuations... Need for a "new leader".... You're overreacting!

Maybe he's tired of the countless idiots and bots that piss him off?! At least he's very patient because there are really a lot of idiots on social networks ! a good example in the previous pages.

It seems he's still teaching on Medium Network Smiley personally I think it's good that he's protecting himself from all these childish jerks...






Blockchain research and development firm nChain Group has announced that David Washburn will join its organization as Chief Executive Officer of its London-based nChain Limited.

Established in 2015, nChain’s mission is to enable massive growth of the bitcoin network – focusing on Bitcoin SV as the true bitcoin – and thus create dramatic increases in the value of Bitcoin SV. nChain has been researching and developing the ideas and concepts of its Chief Scientist, Dr. Craig S. Wright, who has been involved with bitcoin since 2009 and claims to be one of the earliest minds behind bitcoin.

Washburn, who holds a Ph.D in physiology and biophysics and has over 15 years of experience in capital markets, replaces Jimmy Nguyen as CEO. Nguyen has been appointed Chair of nChain’s Strategic Advisory Board and will also serve as the Founding President of the Bitcoin Association to help build the Bitcoin SV infrastructure and ecosystem.

“I am very impressed with nChain’s vast collection of patents and intellectual property rights that ensures it will continue to be at the forefront of blockchain performance for many years to come,” Washburn said. “The Bitcoin SV blockchain allows traditional banking enterprises — as well as a diverse range of businesses — with a more cost-effective and secure platform for executing transactions. It saves time and money, a foundational hallmark of any technological disruptor.”

nChain said that Washburn’s appointment further exemplifies the extraordinary growth and influence of blockchain technologies. nChain’s solutions provide the financial industry and a variety of other businesses with more efficient means to conduct transactions and greater digital security for assets.

“nChain’s professional service division has experienced significant growth over the last year, working with clients across financial services,” Nguyen said. “With the addition of David Washburn, we are looking to significantly scale and deliver value to all of our clients across the globe.”

Source: https://blocktribune.com/blockchain-firm-nchain-appoints-david-washburn-as-ceo/?fbclid=IwAR0LQoz0eePv6NYKnl5gZq8ZmmxC7yXshfdF1hfzBq0IscPTcy4dY5pdmpc






For CW twitter account... More information about that: https://medium.com/@craig_10243/dmca-de119d616699
Craig Steven Wright is still on board for a very long time and it's a pleasure ! As these credit times can be more useful for himself or his family. Too much idiot=too much wasted time. Maybe it's a good thing for his psychic development that they take a step back with all the" disappointing" people and the consequent number of pueril assholes that gravitate around him.

For now:

BSV is developing, a hackathon will be launched in May 2019, there is +$30,000 for the first and other prizes for the other winners.


Bitcoin SV Virtual Hackathon takes place May 4-5 as lead up to CoinGeek Conference Toronto


Source: https://coingeek.com/bitcoin-sv-virtual-hackathon-takes-place-may-4-5-as-lead-up-to-coingeek-conference-toronto/


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March 19, 2019, 12:44:10 PM
 #154

Shooopppiinggg News

https://www.digitec.ch/en/page/cryptocurrencies-now-accepted-on-digitec-and-galaxus-11214

Carpe diem  -  understand the White Paper and mine honest.
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw  -  https://metanet.icu/
The simple way is the genius way - in Moore's Law and Satoshi's WP we trust.
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March 19, 2019, 12:50:20 PM
 #155


Looks like BSV now needs a new 'leader' ...

‘Bitcoin Creator’ Craig Wright “Satoshi Nakamoto” Deletes Twitter Account After Getting Heckled?

- https://cryptoslate.com/bitcoin-creator-craig-wright-satoshi-nakamoto-deletes-twitter-account-after-getting-heckled/

 Roll Eyes

Extrapolation !


More baseless insinuations... Need for a "new leader".... You're overreacting!

Maybe he's tired of the countless idiots and bots that piss him off?! At least he's very patient because there are really a lot of idiots on social networks ! a good example in the previous pages.

It seems he's still teaching on Medium Network Smiley personally I think it's good that he's protecting himself from all these childish jerks...



I do not think it is weird, especially today. Now we can see a variety of obscure situations in this industry. Everyone responds to this in its own way



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[15.00000000 BTC]


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March 19, 2019, 12:55:50 PM
 #156



Hello humans, a life challenge awaits you, come and measure yourself in complete discretion.

Enter in the blockchain matrice for build the internet of tomorrow with BSV and discover 🌐 superior answers on your way.

https://coingeek.com/bitcoin-sv-virtual-hackathon-takes-place-may-4-5-as-lead-up-to-coingeek-conference-toronto/


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March 19, 2019, 02:40:38 PM
Last edit: April 15, 2019, 03:27:07 PM by mprep
 #157



Hello humans, a life challenge awaits you, come and measure yourself in complete discretion.

Enter in the blockchain matrice for build the internet of tomorrow with BSV and discover  superior answers on your way.

https://coingeek.com/bitcoin-sv-virtual-hackathon-takes-place-may-4-5-as-lead-up-to-coingeek-conference-toronto/






How do you enable the world’s new money and global enterprise blockchain? Run a hackathon, that’s how.

This May, the Bitcoin Association—the leading industry group for Bitcoin business—is hosting the first ever Bitcoin SV (BSV) hackathon to encourage developers around the world to build on BSV and unleash the true power of Bitcoin’s original design, protocol and Satoshi Vision. The hackathon is run by nChain and sponsored by CoinGeek.

The hackathon will be virtual so anyone can participate from anywhere in the world. It will take place on May 4 and 5, with participation periods to run according to the based upon GMT timezone.

Three finalists will be selected in the virtual hackathon, and a representative from each team will fly to Toronto, Canada, to present their BSV-powered solutions at the CoinGeek Toronto Conference on May 30. A panel of judges and the conference attendees will select the winner.

The first place winner will go home with 250 BSV, followed by 100 BSV for the second placer, and 50 BSV for the third place winner. All three finalists will have the opportunity to be considered for investment funds.

Registration for the BSV virtual hackathon will open soon. Pre-register here.

The first ever BSV virtual hackathon is a lead up to the CoinGeek Toronto conference, a two-day cryptocurrency event at the historic The Carlu on May 29-30.

The CoinGeek Toronto conference is the third installment of CoinGeek’s headline events. Like the first two CoinGeek conferences, the Toronto summit will feature experts in the blockchain and cryptocurrency space. The event’s overall theme is “Bitcoin SV: No Limits,” with a focus on massive on-chain scaling and the technological power of Bitcoin SV. It’s worth noting, however, that though focused on BSV, the CoinGeek conference environment incorporates speakers who also work with other cryptocurrencies and blockchains, and also welcomes anyone interested in learning about BSV.

A “Developers Day” will be held on May 29, focusing on more technical issues for BSV. The main conference will take place on May 30. Sessions will cover topics such as, scaling and technical developments of BSV, how merchants can accept payment with BSV, The Metanet, nChain’s ground-breaking project to power and integrate the Internet through the BSV blockchain, tokenization with BSV, enterprise application on the BSV blockchain, and a discussion of a Bitcoin future finally with “No Limits,” among others.

Source: https://coingeek.com/first-ever-bitcoin-sv-hackathon-goes-big-with-400-bsv-prize-pool/




I do not think it is weird, especially today. Now we can see a variety of obscure situations in this industry. Everyone responds to this in its own way

Actually, i agree with your point of view. Maybe things will change.


Know that what comes next maybe will be like internet next generation same of an addressable system that allows people to create content in a secure environment where information is identifiable despite the fact that it can be confidential and tamper-proof. Adaptable to all operating systems linking administrations with the whole public and global private enterprise across a multi-connected world. Where it is possible to create BSV income based on interactions. Created, imagined, conceive is the heart of creativity. With this information you can control the world you create for yourself and at the same time address it to everyone according to the modular layer additions.


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March 19, 2019, 03:38:12 PM
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It is appreciated to read about new skill reinforcements. 

In particular with the arrival of David Washburn for nChain, one of the world's leading providers of consulting, research and development of block-chain technologies, today announced that David Washburn would join the growing organization as Managing Director of his London-based company nChain Limited. Washburn, an established leader in the global financial sector, brings decades of knowledge to the role of CEO. He replaces Jimmy Nguyen, who has been appointed Chairman of nChain's Strategic Advisory Board and will also serve as Founding President of the Bitcoin Association to help create the Bitcoin SV infrastructure and ecosystem.

Another long-time Bitcoin Cash supporter switches to Bitcoin SV
In February, Kevin Pham, a long-time fan of the Bitcoin Core (BTC), announced that he would change alliances and start supporting Bitcoin SV (BSV)!

It's very enjoyable, Even if I'm not affiliated with nchain, coingeek and others to date but I would like to welcome you!
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March 19, 2019, 03:42:20 PM
Last edit: April 15, 2019, 03:27:33 PM by mprep
 #159



Hello humans, a life challenge awaits you, come and measure yourself in complete discretion.

Enter in the blockchain matrice for build the internet of tomorrow with BSV and discover  superior answers on your way.

https://coingeek.com/bitcoin-sv-virtual-hackathon-takes-place-may-4-5-as-lead-up-to-coingeek-conference-toronto/






How do you enable the world’s new money and global enterprise blockchain? Run a hackathon, that’s how.

This May, the Bitcoin Association—the leading industry group for Bitcoin business—is hosting the first ever Bitcoin SV (BSV) hackathon to encourage developers around the world to build on BSV and unleash the true power of Bitcoin’s original design, protocol and Satoshi Vision. The hackathon is run by nChain and sponsored by CoinGeek.

The hackathon will be virtual so anyone can participate from anywhere in the world. It will take place on May 4 and 5, with participation periods to run according to the based upon GMT timezone.

Three finalists will be selected in the virtual hackathon, and a representative from each team will fly to Toronto, Canada, to present their BSV-powered solutions at the CoinGeek Toronto Conference on May 30. A panel of judges and the conference attendees will select the winner.

The first place winner will go home with 250 BSV, followed by 100 BSV for the second placer, and 50 BSV for the third place winner. All three finalists will have the opportunity to be considered for investment funds.

Registration for the BSV virtual hackathon will open soon. Pre-register here.

The first ever BSV virtual hackathon is a lead up to the CoinGeek Toronto conference, a two-day cryptocurrency event at the historic The Carlu on May 29-30.

The CoinGeek Toronto conference is the third installment of CoinGeek’s headline events. Like the first two CoinGeek conferences, the Toronto summit will feature experts in the blockchain and cryptocurrency space. The event’s overall theme is “Bitcoin SV: No Limits,” with a focus on massive on-chain scaling and the technological power of Bitcoin SV. It’s worth noting, however, that though focused on BSV, the CoinGeek conference environment incorporates speakers who also work with other cryptocurrencies and blockchains, and also welcomes anyone interested in learning about BSV.

A “Developers Day” will be held on May 29, focusing on more technical issues for BSV. The main conference will take place on May 30. Sessions will cover topics such as, scaling and technical developments of BSV, how merchants can accept payment with BSV, The Metanet, nChain’s ground-breaking project to power and integrate the Internet through the BSV blockchain, tokenization with BSV, enterprise application on the BSV blockchain, and a discussion of a Bitcoin future finally with “No Limits,” among others.

Source: https://coingeek.com/first-ever-bitcoin-sv-hackathon-goes-big-with-400-bsv-prize-pool/



It's amazing ! Registering is very tempting but I have to give way to others in the name of their stories





Welcome to newcomers! The BSV blockchain road is winding and full of obstacles but not impossible Cool
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March 19, 2019, 10:54:57 PM
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BITCOIN SV SECURITY AUDIT HELPS RESOLVE MULTIPLE VULNERABILITIES ACROSS DIFFERENT BITCOIN BLOCKCHAINS
March 1, 2019

Denial of Service Vulnerabilities Repaired in Bitcoin SV version 0.1.1

The Bitcoin SV (BSV) community is committed to the “Satoshi Vision” for delivering a secure and scalable Bitcoin network that supports the world’s new money and use as the global enterprise blockchain. As part of its commitment to professionalise the Bitcoin development process, the Bitcoin SV Node implementation team engaged the services of Trail of Bits, a leading cybersecurity research company with expertise in blockchain technologies, to perform a security audit of the Bitcoin SV Node implementation source code.  The security audit revealed multiple vulnerabilities that Bitcoin SV did not itself cause but likely inherited from the Bitcoin Core (BTC) and thus Bitcoin ABC software for Bitcoin Cash (BCH) from which the Bitcoin SV were forked.  However, Bitcoin SV’s audit and professionalised approached to security has now helped all these major blockchains resolve the vulnerabilities.

A full security audit requires significant time and cost to perform, but the Bitcoin SV Node implementation team did so (with financial support from its partners at CoinGeek) as a critical step to bring more professionalism to the Bitcoin ecosystem.  We believe this is the first time any Bitcoin node implementation has ever been security audited in the 10-year history of Bitcoin.

After conducting its security audit, Trail of Bits reported numerous  findings.  The Bitcoin SV Node implementation team considered three of these findings to be significant enough to warrant responsible and confidential disclosure to other potentially affected Bitcoin implementations – specifically to implementations for the Bitcoin Core (BTC) and Bitcoin Cash (BCH) chains which compete against BSV.

The three vulnerabilities have been rated as medium severity with low difficulty to exploit and expose the Bitcoin node software to Denial of Service attacks resulting in a high overall risk rating. The Bitcoin SV Node implementation team disclosed the details of these vulnerabilities to other Bitcoin implementations (for Bitcoin Core and Bitcoin Cash) on 10 January 2019, requesting full confidentially until 11 February 2019 and that detailed information about the vulnerabilities be kept confidential until 1 March 2019. This process follows industry best practice by providing sufficient time for development teams to release and deploy updated software before the details of the vulnerabilities become public knowledge.

The details of the vulnerabilities were disclosed to the software development teams of Bitcoin Unlimited, Bitcoin XT, Bitcoin ABC, and Bitcoin Core. An analysis of the vulnerable portions of the source code indicated that these software implementations may be affected by these vulnerabilities – most likely because the vulnerabilities first existed in the Bitcoin Core software before it was forked by Bitcoin ABC to create ABC (an implementation for Bitcoin Cash), and before Bitcoin SV thus inherited these vulnerabilities from Bitcoin ABC.

1) The first vulnerability, CVE-2018-1000891, would enable an attacker to send specially crafted network packets to the target node which would needlessly consume large amounts of processor and network resources. The attack could result in a Denial of Service by exhausting processor and network resources and would not be detected or prevented by the software.

2) The second vulnerability, CVE-2018-1000892, would similarly enable an attacker to send specially crafted network packets which would needlessly consume large amounts of processor and network resources. The attack could result in a Denial of Service by exhausting processor and network resources and would not be detected or prevented by the software.

3) The third vulnerability, CVE-2018-1000893, would also enable an attacker to send specially crafted network packets which would needlessly consume large amounts of memory resources. The attack could result in a Denial of Service by exhausting memory resources and causing system failure. The attack would not be detected or prevented by the software.

For Bitcoin SV, these vulnerabilities were addressed in release 0.1.1 of the Bitcoin SV Node implementation which was released on 11 February 2019.

Bitcoin SV Node Lead Developer Daniel Connolly remarked:

“By organising this security audit (with funding by CoinGeek) and by sharing the results in a responsible and secure manner, the Bitcoin SV Node team, nChain and our partners at CoinGeek demonstrate our commitment to increase the quality of Bitcoin software and professionalise the engineering process.”

Even though the Bitcoin SV Node implementation team did not create these vulnerabilities and likely inherited them from Bitcoin Core and Bitcoin ABC, its groundbreaking approach to apply software industry best practices to Bitcoin node development has now also benefited the competing Bitcoin Core and Bitcoin Cash ecosystems.

The Bitcoin SV Node reference implementation is a project of the Bitcoin Association.  The Bitcoin Association’s Founding President Jimmy Nguyen observed:

“As I’ve said before, it’s time for Bitcoin to grow up and professionalise.  This security audit is a big step in that direction, because no other Bitcoin project is taking such a comprehensive approach to security.  The results and improvements exemplify how the Bitcoin SV Node team is taking steps to prepare Bitcoin SV to have the reliability needed to become the world’s new money and the global enterprise blockchain.  It also demonstrates that Bitcoin SV is now leading the Bitcoin industry, even helping other projects that deviated from the Satoshi Vision for Bitcoin.”

Source : https://bitcoinsv.io/2019/03/01/bitcoin-sv-security-audit-helps-resolve-multiple-vulnerabilities-across-different-bitcoin-blockchains/

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