Bitcoin SV Needs Peer-To-Peer Transactions And Here’s Why

Bitcoin SV needs peer-to-peer transactions since the real ones are actually rare on the network despite being embedded into the whitepaper almost 12 years ago. Let’s find out more in the Bitcoin SV news today.

Nowadays, almost all of the applications transact like User-Full node-Miner-Application. This means that a user ends their transaction to the full node that potentially runs on the cloud server. The full node relays the transaction to a miner and the miners then queue up the transaction to put in the next block which is called ‘’zero-conf’’. The application then queries some of the full nodes before interpreting the transactions and gathering data on the platform. This approach is inefficient and can bring failure.

The false narrative that was pushed from the start of the BTC Core that the individuals have to run their own nodes, led to users building on top of Bitcoin SV to develop their applications dependent. The lack of scale eventually led to this type of architecture to persist and made the application developers complacent. Along with the Genesis upgrade, there are still no tools that make it possible for the users to take full advantage of the Bitcoin SV network in full so this has to scale in the near future.

Scale can occur suddenly with the announcement of the HER project at the CoinGeek so the applications have to prepare. There is a possibility that an application exists with inefficient architecture which can become not usable and obsolete so Bitcoin SV needs to make a few changes. Peer-to-peer transactions offer much better user experience and streamlined applications for service providers. For example, Twetch SDK uses this method so a user can make a simple HTTP request to the server and Twetch then broadcasts the transaction on the users’ behalf.

This approach is much faster since it can show the data instantly from the transaction on the site without having to process a long time which will reduce risks. Also, Twetch can moderate the content before it is sent to the network so it doesn’t have to accept it right away what the Bitcoin SV network determined as valid.