The potential for a worldwide digital economy just got a million times greater. Not just in general, we mean a million times per second greater. Swiss-based BSV Association has announced the official release of Teranode, the much-anticipated next-generation upgrade to Bitcoin, which completely transforms what a blockchain network can do. Teranode finally delivers to the world the promise of unbounded scaling, on-chain, secure, fast, and affordable.
With Teranode, the BSV blockchain network can process over a million transactions per second. In fact, it has consistently surpassed this number in live trials on a globally distributed test network. These figures far exceed those required by existing digital payment networks, including major credit cards.
The BSV blockchain isn’t just a network for payments; its unbounded capacity means it can handle the entire world’s data across various industries, including finance, the Internet of Things (IoT), logistics, supply chains, healthcare, property, business records, gaming, and entertainment, as well as whatever comes next.
Available now is the infrastructure to build globe-spanning distributed apps. It makes blockchain both a viable and valuable tool for everything from large-scale enterprise and government services to localized social networks and independent creators. Any asset that exists in the real world can be tokenized and traded. It can run any number of digital currencies. Data can be public or protected. The network is open for anyone to build upon and utilize. It’s all there, secured, verifiable, and available to whoever needs it. The BSV blockchain is ready to serve as the world’s global truth ledger.
Teranode shifts the narrative
Teranode is the answer to Bitcoin’s decade-plus-long “scaling debate.” It finally proves once and for all that Bitcoin is scalable and can process all data on the blockchain. On-chain transactions are finalized and settled. There’s no need for tricks with separate layers for payments or additional data. The full potential of the original Bitcoin protocol is finally unlocked.
The question is no longer “can blockchains scale?” said BSV Association Managing Director Ásgeir Óskarsson. It’s now about “What can we build, now they do?”
“With Teranode, BSV Association delivers infrastructure that helps achieve our mission to advance adoption and unlock the full potential of BSV as a scalable, secure, energy-efficient public blockchain built for data integrity, enterprise solutions, and government applications.”
Limitless growth potential is worth the wait
The word “Teranode” has been on everyone’s lips since the concept first emerged about six years ago. It wasn’t always an easy journey getting to this week’s release, and some had said its challenges were too significant.
Teranode is built on a modular, microservices-based, and horizontally scalable architecture for seamless data integration and real-time decision-making. Its source code is available for anyone to examine. It supercharges blockchain’s capabilities far beyond previous expectations, forcing both the technology’s proponents and detractors to reconsider how a future, data-driven economy could be constructed.
“We know this tech has been a long time coming, but good things are worth the wait,” said BSV Association CTO Siggi Óskarsson.
Although Teranode demonstrated its million-transaction-per-second capabilities in demonstrations over a year ago, the upgrade required rigorous testing before being released to the world.
“For the past six months, BSVA has been working closely with developers to trial and test the software, allowing them to see the underlying code powering Teranode, enabling peer review, identifying potential optimisations, and strengthening the platform before its full launch. Our goal is to help developers and partners build a better world, on-chain with Teranode, supporting enterprise-scale applications with real-world utility.”
Teranode will not be an overnight shift. Some transaction processors are already running it alongside the existing BSV node software, and everyone else will phase it in over the coming months. The BSV Association, a Swiss non-profit organization that serves as the protocol custodian and advocate for scalable blockchain, will support the implementation through outreach programs and developer information. Even if you’re hearing all this for the first time and want to get started, support is available.
Watch: Teranode is the digital backbone of Bitcoin
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Source: https://coingeek.com/unbounded-blockchain-bsv-teranode-ready-to-change-the-world/