What are some of the BSV blockchain’s most compelling upcoming features? There’s the new Python SDK to capture developers using the world’s most popular programming language. Its “Mandala Upgrade” will supercharge the network’s capabilities to a point where it rivals and surpasses today’s internet. CoinGeek Backstage’s Becky Liggero attended the recent AWS Summit in Zurich and spoke to Thomas Giacomo, Director of Utilization at the BSV Association, about how this could change everything.
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Why the AWS Summit? BSV’s coming implementation of Teranode is the answer, and its most recent test involved six nodes processing a million transactions per second—using AWS infrastructure. Overlay services and SPV wallets can be one-click-deployable on AWS and are aligned with all AWS FTR (Foundational Technical Review) requirements.
What is the Python SDK, and why is it exciting for the (BSV) ecosystem?
“The Python SDK is basically a set of tools for developers who are familiar with the Python programming language to use BSV without changing their tools and their preferred programming language,” Giacomo says.
In recent years, Python has overtaken languages like C and Javascript to become the world’s most popular. It’s also gained more attention as the language of choice for AI development, into which BSV would like to integrate blockchain-based capabilities.
“It matters because a lot of AI developers use Python as their preferred programming language. So if we want to be competitive in terms of all the AI use cases leveraging the blockchain capabilities, then we need to adapt all the BSV capabilities in the Python programming language,” Giacomo adds.
Overlay services, Teranode, form key parts of BSV’s Mandala upgrade
Overlay services (as a collective concept) is one of the main components of BSV’s “Mandala upgrade.” Announced at the BSV DevCon in London back in May 2024, Mandala gives the BSV blockchain a new network topology. Its most prominent features are Teranode, at the center of the network, SPV wallets, and overlay services.
Teranode is planned to go live around Q4 2024 and Q1 2025, and SPV wallets are ready to use right now. Overlay services exist to allow application builders to interact with Teranode, Giacomo says.
“What is important also with overlay services is that it will allow businesses to set up their own business environments leveraging a permissionless network.”
In reality, that means the ability to build a setup that involves permissioned capabilities on top of a permissionless blockchain. Like today’s internet, the network is open for anyone to use, but it’s possible to create closed or private environments alongside public spaces. For example, one news site (like this one) is there for anyone to see, while some news sources are viewable only to members or paid subscribers.
Giacomo offers the example of a central bank wanting to create its own central bank digital currency (CBDC), specifically, the Swiss National Bank‘s pilot program to create a digital version of the franc. Using BSV’s overlay services, the SNB could create a dedicated environment for all Swiss digital franc transactions.
At its foundation would be all the benefits of the BSV network: a stable protocol, proof-of-work security, unbounded scaling, fast and cheap transactions. The CBDC itself would set and follow its own rules on that base network (e.g., individual CBDC transactions will be private, and there would be other capabilities to interact with existing financial services).
Applications built on BSV will need a way to interact with the sheer volumes of data stored on its blockchain. Overlay services are key to being able to find and make use of all that information. Paired with the blistering speeds and transaction-handling capacity Teranode brings, things are about to get a lot hotter for the BSV network and ecosystem.
Watch: Teranode is the future of the Bitcoin network
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Source: https://coingeek.com/python-sdk-exciting-for-bsvthomas-giacomo-explains-why-video/