Bitcoin SV has now opened up a whole new world of uses and is set to become the world’s data network and storage carrier after a single, no-hard-fork-needed change within the Bitcoin blockchain protocol was made recently.
nChain’s Jimmy Nguyen spoke about this vision at the recently concluded Blockchain Japan Conference 2019 in Yokohama. He shared this is what is going to happen for Bitcoin SV after the data size limit of OP_Return, the functionality that allows embedding data into the blockchain, was lifted. This happened with developers and miners coming together to agree to lift this limit without doing a consensus change to the Bitcoin SV blockchain protocol.
This simple yet impactful update now enables a single transaction within Bitcoin SV blockchain to hold 100KB of arbitrary data, and will be much higher in the future.
“So what happened as result of this? What happened is people started very quickly in the last week come up with powerful new ways to embed data in the OP_Return transaction field,” Nguyen said.
Some of examples are embedding the entire text of the book Alice in Wonderland, which is 53KB, in a single OP_Return transaction field. This led to this anonymous, prolific Bitcoin developer known with a Twitter handle @_unwriter to create a serverless website based upon Alice in Wonderland inside a single Bitcoin SV transaction push data.
Bitcoinfiles.org has also emerged to create a dropbox on the blockchain allowing anyone to store and access files, images and content on a content delivery service on Bitcoin SV. Other developers embedded a piece of a music file, a clock and even a chess game.
These are now all possible simply because data size limit of OP_Return was lifted.