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Bitcoin Association Releases LiteClient Toolbox

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Bitcoin
Association announced on Wednesday that it had released the MVP phase of the
LiteClient Toolbox, which allows users to interact with the Bitcoin SV (BSV)
blockchain. According to the press release, as described in the original
Bitcoin white paper, the toolkit was developed by the Bitcoin SV Infrastructure
Team and consisted of several elements that deliver the Simplified Payment
Verification (SPV) model.

By using
the LiteClient Toolbox, users do not have to download all transactions on the
BSV network if they are only interested in receiving or sending transactions. Full
nodes need only keep and maintain a copy of the longest chain of block headers
and follow existing communication protocols to validate transactions against a
Merkle proof.

LiteClient MVP Version’s Targets

“Bitcoin
was designed from the start in a maximally scalable way. You do not need to run
a fully indexing node just to send and receive Bitcoin payments or interact
with the blockchain. You just need to store and update the chain of block
headers as well direct communications between the parties. The initial phase of
the LiteClient programme helps enable direct payments and communications and
address the fragility and lack of interoperability with the current
infrastructure. If things are built and used properly as designed, then there
is no risk of things breaking as adoption and data volume on the Bitcoin SV
network continues to grow indefinitely,” Jad Wahab, Bitcoin Association’s
Director of Engineering, commented.

The
association pointed out that this MVP version of LiteClient is intended to
inform the Bitcoin SV ecosystem about LiteClient’s capabilities and how they
can be applied to various applications. “The adoption of these tools will
greatly improve interoperability between services running on Bitcoin SV,
creating use cases such as easy, scalable tokens that work with any wallet,
payment channels, and multi-party payments,” it noted.

Bitcoin
Association announced on Wednesday that it had released the MVP phase of the
LiteClient Toolbox, which allows users to interact with the Bitcoin SV (BSV)
blockchain. According to the press release, as described in the original
Bitcoin white paper, the toolkit was developed by the Bitcoin SV Infrastructure
Team and consisted of several elements that deliver the Simplified Payment
Verification (SPV) model.

By using
the LiteClient Toolbox, users do not have to download all transactions on the
BSV network if they are only interested in receiving or sending transactions. Full
nodes need only keep and maintain a copy of the longest chain of block headers
and follow existing communication protocols to validate transactions against a
Merkle proof.

LiteClient MVP Version’s Targets

“Bitcoin
was designed from the start in a maximally scalable way. You do not need to run
a fully indexing node just to send and receive Bitcoin payments or interact
with the blockchain. You just need to store and update the chain of block
headers as well direct communications between the parties. The initial phase of
the LiteClient programme helps enable direct payments and communications and
address the fragility and lack of interoperability with the current
infrastructure. If things are built and used properly as designed, then there
is no risk of things breaking as adoption and data volume on the Bitcoin SV
network continues to grow indefinitely,” Jad Wahab, Bitcoin Association’s
Director of Engineering, commented.

The
association pointed out that this MVP version of LiteClient is intended to
inform the Bitcoin SV ecosystem about LiteClient’s capabilities and how they
can be applied to various applications. “The adoption of these tools will
greatly improve interoperability between services running on Bitcoin SV,
creating use cases such as easy, scalable tokens that work with any wallet,
payment channels, and multi-party payments,” it noted.

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