BITCOIN

Bitcoin SV Quasar upgrade can be beneficial for gambling operators

TAGs: Bitcoin SV, Blockchain, Quasar

As part of its larger “Roadmap to Genesis,” Bitcoin SV (BSV) is introducing an upgrade to its network, effective July 24. This upgrade, dubbed Quasar, has the primary goal of increasing the network’s scaling capabilities to a massive 2-gigabyte (or 2000 megabytes) default maximum block size, something that no other blockchain has been able to see. Not only will this be a major coup for BSV, but it can also be a huge advantage for gambling operators looking to make the switch to blockchain-based gaming platforms.

Bitcoin SV Quasar upgrade can be beneficial for gambling operatorsGigabyte-sized blocks have already been proven to be feasible during testing on the BSV network. One gigabyte is 1000 megabytes, so this is 1,000 times larger than the 1MB block cap on the Bitcoin Core (BTC) network. Gigabyte blocks on BSV will allow for large amounts of data to be stored and managed directly from the blockchain, without having to rely on off-chain solutions or third-party options that reduce the reliability and legitimacy of the payment transactions and data. In fact, the BSV network is so powerful that entire applications can be completely run on or from the blockchain. The increase to 2GB is also a precursor to BSV’s ultimate “Genesis” upgrade in February 2020, which will restore Bitcoin’s original vision and remove any default block cap setting. This will allow the BSV network to scale as big as needed to support global enterprise usage.

The gambling community now has the ability, thanks to BSV, to operate completely on the blockchain. This implies faster and cheaper deposits and withdrawals, more secure data storage and greater transaction capacity than ever seen before, and more powerful applications, tokens, and services—on or off the blockchain. It will allow hundreds of thousands of transactions each day and thousands of deposits and withdrawals each minute. Given the costs associated with making these financial transactions through credit card processors, PayPal, bank deposits, etc., having a lower-cost option that operates faster means more revenue for the platform and a better user experience.

Thanks to the Bitcoin Association, gaming operators can test their capabilities on the blockchain without any investment. The BSV Scaling Test Network is available for public use, which gives businesses the chance to take their blockchain solutions for a test run on BSV in order to extend throughput capacity.

Apart from the financial considerations of deploying blockchain technology for gaming, there is also the ability to offer more transparent and fair gaming experiences. Since all of the game activity is stored on a public blockchain, it is auditable, verifiable, and available for review, and users will know exactly what they’re up against. Of course, privacy is still possible on the blockchain, which means that some data can be withheld and users don’t have to be publicly identified by name.

BSV is working to restore Bitcoin back to its original design. There’s no denying the fact that most cryptocurrency projects have completely bastardized Satoshi’s original vision, but only BSV has had the foresight and determination to let that vision live. It is also the only blockchain to repeatedly show that Satoshi was correct in his original Bitcoin design and that blockchain developers on other platforms have taken over those solutions to use as their own playground sandboxes. This not only jeopardizes the integrity of the blockchain, but is harmful to innovation and growth. On the other hand, BSV has continued to move along a straight and narrow path, ensuring that Bitcoin is able to provide the solutions for which it was originally intended.

With the Quasar upgrade, BSV takes a key step towards returning to Bitcoin’s massive scaling vision and original utility-based model. This makes BSV stand in a league of its own, devoid of any true competition. The BSV model is gaining traction first in the crypto developing world, not in the world of the speculative casino exchanges, driven by its ability to offer a legitimate utilitarian platform at costs that are substantially lower than any other blockchain or conventional payment solution.

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