Kurt Wuckert Jr. on BSV’s 35 million milestone: “We are already beyond what people think blockchain is possible to do”
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The true power of blockchain technology is seen in its ability to scale and process large amounts of data while keeping fees affordable.
Speaking to CoinGeek Backstage, Chief Bitcoin Historian Kurt Wuckert Jr. that many blockchains in the market are able to handle transactions for hundreds of thousands up to a million per day, for example Ethereum. Wuckert was speaking on the sidelines of the Unbounded Capital Summit in New York, where he was invited to talk about blockchain’s history and current landscape.
He was quick to point out that no one can do better than Bitcoin SV (BSV), which made headlines last September after recording 35 million transactions in a 24-hour period.
“BTC has never had a day where it’s gone over a couple of hundred thousand transactions, and frankly, it can’t. … Ethereum will pretty typically do one or maybe two million transactions in a day, but that’s the end of the joke on that bandwidth,” Wuckert said.
BSV’s recent milestone means over 30 times more processing power than Ethereum, the largest processor network in the blockchain space.
“We are already orders of magnitude above what people think blockchain is possible to do,” Wuckert added.
But the milestone is just the beginning for BSV with the integration of IPv6, but Wuckert said not many people understand how massive the move is yet. A peer-to-peer network, “IPv6 is used for typically small devices to communicate across a local area network,” Wuckert said, identifying the protocol as similar to the original Bitcoin.
“In Bitcoin, you can send a transaction from one person to another, and the recipient sends to the blockchain so the recipient’s device on an IPv6 network can send the data to the internet if needed,” he added.
By combining the two, BSV can develop a new security model for the internet and add functionality to existing apps and services without needing more protocols.
“If there’s only one protocol that was used for payments and all the other things, it just simplifies the whole stack, and simplification means efficiency,” Wuckert noted.
Besides this synergy, Wuckert highlighted the need to strengthen the ecosystem by developing the talent pool and supporting startups, as his team is doing in South Florida.
See: Dr. Craig Wright’s keynote: A Better Internet with IPv6 and BSV Blockchain
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