In a recently released article from Steve Shadders, the Bitcoin Association Committee Chair and CTO at nChain addressed recent developer comments calling on miners to make changes to default limits or fee changes on the BSV network. Steve explained the importance of responsible limit growth, how a policy limit might be changed, and the need to mitigate risk through this process.
This a healthy discussion, and at TAAL we welcome an open dialogue among our peers and the development community. This is an industry that is accelerating at pace, and these kinds of debates further our progress to deliver the transformative value that we know this technology can deliver. To do this we must debate, discuss, and if we do adapt our services and limits, we should do this after careful planning and solid testing.
Blockchain application demands very large transaction processing capacity at low cost to scale. Until now, applications were restricted to twenty-five chained transactions per ten-minute average cycle which had implications for enterprise building applications that require very high volume of transactions. In recent weeks TAAL acted on this, announcing a limit upgrade that significantly increases the transactions per chain default, and further supports the global development community capacity to innovate.
Upgrades will continue to be key to growth, but education is essential too. TAAL is participating in prominent events in North America, Asia and the EU, authors articles and papers to increase awareness and understanding of the BSV advantage and works closely with the development community through the product development cycle. We also applaud the Bitcoin Association for their continuing education programs.
In March 2021, TAAL set a new world record of 638MB for the largest block processed on the BitcoinSV network, comprised of large data files including micropayments and larger individual files. This continues our leadership as a miner and demonstrates capacity that can enable enterprise success. We complement this with service packages and fixed monthly costs to further support development on BSV.
We are poised to roll out a suite of products and tools in the coming weeks that are specifically designed to ease development on BSV. These products include a refreshed console and activity dashboard to track business on the blockchain, automated invoicing and credit card payments, Testnet and Mainnet access key management and customized service packages that grow to meet business needs.
Let’s continue the conversation together and stay focused on our shared bigger prize to enable BitcoinSV to transform entire industries and economies.