ZUG, Switzerland, April 29, 2024 /PRNewswire/ -- BSV Blockchain
today announced the release of its new SPV (Simplified Payment
Verification) Wallet, which is now available in public beta,
following a private beta period. The SPV Wallet, developed and
maintained by the BSV Association, is an open-source, non-custodial
hosted wallet that seamlessly integrates with the existing BSV
ecosystem. It serves as the standardised open-source wallet
reference implementation for the BSV ecosystem.
The SPV Wallet is designed to be cost-effective and accessible.
It is the standardised way that BSV wallets will be able to
interact with the BSV network, when Teranode and Overlay services
go live. By utilizing SPV Wallets in place of the full node
software, businesses can validate transactions and make outbound
payments, leading to significant cost savings.
Thomas Giacomo, Director of
Utilisation at BSV Blockchain said, "The maximum
transactions per second settled on BSV Blockchain has been trending
up rapidly for the last few years and is expected to skyrocket as
we go forward. This will inevitably drive-up costs for full node
operators and raise the corresponding demand for SPV Wallet
solutions."
Darren Kellenschwiler, Technical Lead of Utilisation at BSV
Blockchain, "This allows KYC and AML data to be validated
before any payment negotiations, domain-specific controls, and many
configurable options to meet requirements in your jurisdiction.
Running SPV Wallet in place of a full node leads to significant
cost savings. This saving is due to the disparity between relevant
transactions for the exchange, and overall network transaction
volume."
Who can benefit from SPV Wallet?
- Exchanges: The SPV Wallet can be used in the place of
BSV blockchain node software to validate transactions and make
outbound payments and enhance compliance purposes.
- Wallet providers: It offers validation functions and
data models which allow for safe instant transactions, compatible
with existing Paymail standards.
- Businesses: SPV Wallet integration aligns with the
latest industry and BSV standards and improves the application's
robustness and security.
Key features and roadmap
- Account creation, transaction signing and checking
balance.
- Sending transactions.
- Receiving and validating inbound transactions.
- Storing transactions and corresponding metadata.
- Confirming your transactions on the BSV Blockchain
- CLI, JavaScript, and Go clients for the Wallet API.
Extensive test scenario coverage has been performed to ensure
maximal security. The planned roadmap includes a mobile wallet app,
payment counterparty validation, identity manager and token and
smart contract support.
For more information about the SPV Wallet and development, visit
here. Users are also encouraged to contact the team on the SPV
Wallet Discord channel.
Contact Details
pr@lightningsharks.co.uk
About BSV Blockchain:
One Blockchain for Everyone.
The BSV Blockchain leads the BSV Blockchain for Enterprise and
Government initiatives. This Switzerland-based global non-profit industry
organisation supports the use of the BSV blockchain.
The BSV Blockchain oversees the creation of technical standards
and educates enterprises, government agencies, start-up ventures,
developers, and users on creating a global blockchain ecosystem.
The original Bitcoin protocol and its scripting language provide
powerful technical capabilities that BSV has restored.
View original
content:https://www.prnewswire.co.uk/news-releases/bsv-blockchain-launches-spv-wallet-the-standardised-bsv-open-source-wallet-reference-implementation-302130138.html