BSV Upgrade Multiple Paths

Editor's Note: This article comes fromHoneycomb Finance News (ID: fengchao-caijing), Author: JX kin, reproduced by Odaily with authorization.

Editor's Note: This article comes from

Honeycomb Finance News (ID: fengchao-caijing)

Honeycomb Finance News (ID: fengchao-caijing)

, Author: JX kin, reproduced by Odaily with authorization.

On February 4th, BitcoinSV (BSV) completed the "Genesis Upgrade" that has been warmed up for half a year, continuing its vision of being a "real Bitcoin" at the beginning of its birth. The ultimate goal of this upgrade is to return to the Genesis of Bitcoin. Achieve higher efficiency to become a better "peer-to-peer electronic cash".

In this regard, Qiu Shaoxian, a member of the BSV Chinese core community "Skull and Bones", told Honeycomb Finance that this is because some nodes have not updated the upgraded version and cannot mine new chains. At present, the miner client has been updated and "does not affect the operation of BSV."

On the day of the upgrade, the highest quotation of BSV was $284, and the lowest quotation was $265, with an intraday drop of 3.5%, and the price trend did not fluctuate much. However, in January this year, BSV created a single-month increase of more than 4 times.

When BSV released the upgrade news, its most well-known "opinion leader" Craig Wright was exposed. The materials he submitted to the court to prove that he was Satoshi Nakamoto, the founder of Bitcoin, were suspected of being fake.

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BSV upgrades multiple chains in parallel in a short period of time

At 9:38 on February 4, Beijing time, at block height 620,539 on the BitcoinSV main network, the change was locked after the first block containing only the "Genesis Transaction" was mined.

Before the lock change, miners had some problems with mining. The BSV official website shows that the BSV team announced a prepared transaction immediately after the block with a height of 620537 was dug out. The chain time is one block longer than expected. In the following block 620539, there may be other transactions with similar attributes, but because this transaction is specially prepared to force a fork of legacy software, it is called a "locked transaction", "New Genesis Upgrade Version started running."

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Genesis upgrades the content of the first block

The BSV upgrade this time became the "Genesis Upgrade", which adopted a hard fork method to develop a new chain. After the upgrade, new rules will run on the new chain.

On the same day, Weibo user BeatleNews said that after the hard fork of BSV, some miners did not follow the new chain, but continued to mine the original chain. "BSV was divided into 3 or 4 chains in a short period of time." (BCH) community big V Jiang Zhuoer’s attention, he commented that such a result was caused by “unsatisfactory development level”.

In this regard, Qiu Shaoxian, the opinion leader of the BSV core community "Skull and Bones", told Honeycomb Finance that the version before the upgrade has not been updated, and of course it does not support mining new chains. At that time, some nodes did not update the new system and could only continue to mine the original chain, "as long as the miners are upgraded."

• Lise, manager of the Bitcoin Association in China, also said in an interview with the media that before the upgrade, all known BSV miners have deployed the upgrade software and completed custom parameter settings. Some nodes that have not been upgraded may be The lack of maintenance of "ghost" nodes and the existence of non-upgraded nodes are situations that will be encountered when any blockchain network is upgraded.

• The BSV development team also mentioned that since the fork, an unknown miner has dug a block on the original chain, which is likely due to small miners not upgrading their nodes to v1.0.0 or later before the fork, "We will Continue to monitor the status of both chains." But at the time they spoke, the new version of the network was 75 blocks more than the old version, and it was widely supported throughout the ecosystem. Without any obvious problems, the BitcoinSV team I believe that the Genesis upgrade has been successfully activated.

• The prominent changes after the BSV upgrade mainly include:

Restored the functionality of OP_RETURN, allowing script developers to terminate scripts early and easily, and potentially validating the results of executing scripts;

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"Aoben Cong" self-certified identity is accused of falsifying evidence

BSV’s “return to Genesis” did not see much volatility in price action. According to AICoin, on February 4, BSV reported a maximum of $284 and a minimum of $265, a drop of 3.5% within 24 hours. As of 8:00 p.m. on February 5, BSV was temporarily quoted at $285, an intraday increase of 5%.

The benefits of the upgrade may be exhausted a month ago. In January of this year, the price increase of BSV was crazy, with the highest increase of more than 4 times within the month. In that month, the lowest quotation of BSV was $91.7 and the highest was $455. Among them, on January 14, BSV rose by 144% within a day, soaring from a low of $173 to $455. At that time, BCH, which has always been regarded as a competitor by the outside world, was quoted at $383.

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BSV rose by more than 4 times in January

The price of BSV recovered, and the founding upgrade was completed before the halving, but bad news came from its leader, Craig Wright. On February 5th, Craig Wright was accused of falsifying the materials submitted to the court in the process of proving that he was Satoshi Nakamoto, the founder of Bitcoin.

Craig Wright claimed that he owned a wallet address starting with "16cou7", which he had submitted to the court. It stands to reason that the key to this address should also belong to him. Recently, however, a person under the pseudonym "Bitcoin Whale" used a key to sign a message on the above-mentioned address saying that this address "does not belong to Satoshi Nakamoto or Craig Wright" and attached "Craig Wright is A liar and a fraudster" charged.