What we’re about
This is the New York City Bitcoin SV Meetup group.
With unbounded on-chain scaling, the BSV blockchain supports high transaction volumes at fast speed and for predictable low fees, in addition to offering micropayment capabilities and the greater data capacity needed for large scale blockchain applications. BSV supports a regulation-friendly blockchain ecosystem that enterprises want and governments require.
Lets have some Fascinating Tech Discussions!
With Instant parallel transaction with SPV and Terranode is Bitcoins killer APP AGI? By scaling Bitcoin like BitcoinSV we think so!
BitcoinSV role in AGI (Artificial General Intelligence) Models.
Bitcoin SV is the most scalable Proof of Work Blockchain and is ideal for building AGI.
### 1. Data Integrity and Security
- Reliable Training Data: Blockchain ensures that training data is authentic and immutable, preventing tampering or data poisoning during AGI model training.
- Provenance Tracking: Data origins can be tracked, ensuring transparency and the ethical sourcing of data.
- Secure Model Sharing: AGI models and updates can be shared securely over a blockchain, ensuring authenticity and preventing unauthorized modifications.
***
### 2. Decentralized AGI Networks
- Collaborative Development: Blockchain enables multiple stakeholders to contribute to AGI development while maintaining transparency and trust.
- Distributed Computing: AGI models can run on decentralized networks of computing nodes, where blockchain coordinates tasks, resource allocation, and reward distribution.
- Fault Tolerance: Decentralization ensures resilience against single points of failure, which is crucial for AGI systems that require high reliability.
***
### 3. Monetization and Incentives
- Tokenized Rewards: Blockchain can reward contributors (e.g., data providers, developers, and validators) with tokens for their participation in AGI ecosystems.
- Micropayments: AGI services, such as predictions or automation, can charge users in small, secure payments using smart contracts.
Computer Scientist
Joining us to talk about his journey into programing ZAP AGI, his pet project.
Also RANDY is scheduled to talk on his experience setting up and deploying an SPV node.
You can try the BSV Association Node software here:
https://docs.bsvblockchain.org/network-topology/spv-wallet
Is SPV the Bitcoin Lightning killer?
We journey down the path of testing the SPV node.
Simplified Payment Verification (SPV) is described in section 8 of the Bitcoin whitepaper. It allows a transaction recipient to prove that the sender has control of the source funds of the payment they are offering without downloading the full Blockchain, by utilising the properties of Merkle proofs. This does not guarantee that the funds have not been previously spent, this assurance is received by submitting the transaction to the Bitcoin miners. However, in such a case the SPV proof acts as strong evidence of fraud backed by legally recognised digital signature technology.
SPV allows users to securely transact with each other, peer-to-peer, while nodes act to form the settlement layer.
### Advantages
The advantages of using SPV are clear in terms of the volume of data required:
- a wallet can store all necessary block headers in around 50MB - this covers the entire block chain (as of January 2020, with 80 bytes per block and around 620,000 blocks in the chain). The total grows linearly at around 4MB per year (i.e. it increases by 80 bytes with each block mined, regardless of the size of that block).
- contrast this with the hundreds of gigabytes which would be required to store the entire chain, if SPV were not being used.
- The size of the data required for the merkle paths is of maximum 64log2n
bytes, where n
is the total number of transaction in one block.
As explained in Section 8 of the Bitcoin whitepaper:
" ... [An SPV client] only needs to keep a copy of the block headers of the longest proof-of-work chain, which he can get by querying network nodes until he's convinced he has the longest chain, and obtain the Merkle branch linking the transaction to the block it's timestamped in ...
And in Section 7:
" ... A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year ..."
### SPV Wallet
An SPV wallet is a lightweight wallet that uses the mechanism of SPV to construct Bitcoin transactions and payments.
### Offline Payment:
Note that by storing Transaction0 locally, a user will be able to sign Transaction1 offline, as any signature on Transaction1 requires the scriptPubKey (locking script) part from Transaction0.
Join us and learn how to get started, how it works and how it is available on Satoshi's Bitcoin.
Upcoming events (1)
See all- BitcoinSV for AGI Using instant transactions with SPV and TeranodeTBA Manhattan Hotel, New York, NY
Lets have some Fascinating Tech Discussions!
With Instant parallel transaction with SPV and Terranode is Bitcoins killer APP AGI? By scaling Bitcoin like BitcoinSV we think so!
BitcoinSV role in AGI (Artificial General Intelligence) Models.
Bitcoin SV is the most scalable Proof of Work Blockchain and is ideal for building AGI.### 1. Data Integrity and Security
- Reliable Training Data: Blockchain ensures that training data is authentic and immutable, preventing tampering or data poisoning during AGI model training.
- Provenance Tracking: Data origins can be tracked, ensuring transparency and the ethical sourcing of data.
- Secure Model Sharing: AGI models and updates can be shared securely over a blockchain, ensuring authenticity and preventing unauthorized modifications.
***
### 2. Decentralized AGI Networks
- Collaborative Development: Blockchain enables multiple stakeholders to contribute to AGI development while maintaining transparency and trust.
- Distributed Computing: AGI models can run on decentralized networks of computing nodes, where blockchain coordinates tasks, resource allocation, and reward distribution.
- Fault Tolerance: Decentralization ensures resilience against single points of failure, which is crucial for AGI systems that require high reliability.
***
### 3. Monetization and Incentives
- Tokenized Rewards: Blockchain can reward contributors (e.g., data providers, developers, and validators) with tokens for their participation in AGI ecosystems.
- Micropayments: AGI services, such as predictions or automation, can charge users in small, secure payments using smart contracts.
Computer Scientist
Joining us to talk about his journey into programing ZAP AGI, his pet project.
Also RANDY is scheduled to talk on his experience setting up and deploying an SPV node.
You can try the BSV Association Node software here:
https://docs.bsvblockchain.org/network-topology/spv-wallet
Is SPV the Bitcoin Lightning killer?
We journey down the path of testing the SPV node.
Simplified Payment Verification (SPV) is described in section 8 of the Bitcoin whitepaper. It allows a transaction recipient to prove that the sender has control of the source funds of the payment they are offering without downloading the full Blockchain, by utilising the properties of Merkle proofs. This does not guarantee that the funds have not been previously spent, this assurance is received by submitting the transaction to the Bitcoin miners. However, in such a case the SPV proof acts as strong evidence of fraud backed by legally recognised digital signature technology.
SPV allows users to securely transact with each other, peer-to-peer, while nodes act to form the settlement layer.### Advantages
The advantages of using SPV are clear in terms of the volume of data required:
- a wallet can store all necessary block headers in around 50MB - this covers the entire block chain (as of January 2020, with 80 bytes per block and around 620,000 blocks in the chain). The total grows linearly at around 4MB per year (i.e. it increases by 80 bytes with each block mined, regardless of the size of that block).
- contrast this with the hundreds of gigabytes which would be required to store the entire chain, if SPV were not being used.
- The size of the data required for the merkle paths is of maximum 64log2n
bytes, where n
is the total number of transaction in one block.
As explained in Section 8 of the Bitcoin whitepaper:
" ... [An SPV client] only needs to keep a copy of the block headers of the longest proof-of-work chain, which he can get by querying network nodes until he's convinced he has the longest chain, and obtain the Merkle branch linking the transaction to the block it's timestamped in ...
And in Section 7:
" ... A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year ..."### SPV Wallet
An SPV wallet is a lightweight wallet that uses the mechanism of SPV to construct Bitcoin transactions and payments.
### Offline Payment:
Note that by storing Transaction0 locally, a user will be able to sign Transaction1 offline, as any signature on Transaction1 requires the scriptPubKey (locking script) part from Transaction0.
Join us and learn how to get started, how it works and how it is available on Satoshi's Bitcoin.
