Services
Global Public Blockchain
Network Composition
Transactions
Blockchain Ledger
Smart Contracts
Developer Community
Transparency
Secure and Stable
Verifiable
Scalable
Flexible
Open to Use
Low Cost
blockchain

Transparency

The public blockchain is available for anyone to read and write data. Full public transparency prevents fraud by enabling anyone to audit the truthfulness of the ledger. Public blockchains enable anyone, even those uninvolved in the transaction, to inspect and audit transactions on the ledger.

Network Composition

01
Blockchain Transaction Processors

Blockchain transaction processors can join and quit the network freely without effecting the flexibility of the entire network. Blockchain transaction processors perform the following roles:
· New transactions are broadcast to all nodes.
· Each node includes new transactions into blocks.
· Each node works on finding a difficult proof-of-work for its block.
· When a node finds a proof-of-work, it broadcasts the block to all nodes.
· Nodes accept the block only if all transactions in it are valid and not already spent.
· Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash.

02
Merchant Service Providers

Merchant Service Providers are alternative service providers, assisting in processing users’ transactions.
· Merchant Service Providers build connections via a peer-to-peer transaction network.
· After receiving and verifying transactions, Merchant Service Providers send them to Blockchain Transaction Processors who can detect double-spend fraud and if valid, include them blocks.
· Merchant Service Providers verify transactions using Merkle Proofs from the block header.
· Merchant Service Providers can help users aggregate transactions and merge unspent transaction outputs.

03
Application Service Providers

Application Service Providers are operators of blockchain applications.
· Application Service Providers make payment templates according to demand and submit them to users to construct transactions.
· Application Service Providers index and save the transaction data submitted by users.
· Applications create peer-to-peer transactions between users and merchants.
· Application Service Providers handle and store transaction indexes.

04
Users

Users can connect directly to Application Service Providers to use their apps and services.
· Wallets are core infrastructure that allow Users to enjoy blockchain services.
· Users create transactions with payment requests and use their own private keys to sign transactions.
· Users send the raw transaction record to the payee who handles transaction processing.
· Users save the indexes of their own transactions.
Payees on the peer to peer network will send transactions to Merchant Service Providers who will decide whether to accept them after receiving transactions from payers.

Transactions

Transactions are an important part of of the Bitcoin SV blockchain. Transactions contain a transaction input (Vin) and transaction output (Vout). Each Vin comes from the Vout of previous transaction. With the OP_FALSE OP_RETURN operator, you can put data into the data output load of a transaction. When that transaction is included in with a block with a legitimate proof of work, the data will be saved on the chain as well.

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Blockchain Ledger

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The blockchain ledger is a record of all valid transactions that have ever been transmitted to the network. The ledger is represented as a Directed Acyclic Graph, in which each transaction is a node in the graph. The graph starts with the first transaction of the first block at Bitcoin’s creation, and records the history of valid transactions through the digital signature chain, which can be used to track the creation of all Bitcoins.

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Transactions are organized into blocks in a sequence, and the transaction ID of each transaction is joined into the Merkel tree which is included in the block header. This structure proves that the transaction of concern has been included in the block through Merkel-proven data without examining other transactions. Each block header contains the hash data of the previous block header, which is used to verify the integrity of the current block and all the entire history of blocks all the way back to the genesis block. Subsequent block headers can be used to verify that the current block has been included in the blockchain. The cost to verify that a transaction has been included in the ledger is so low that even ordinary computing devices can do it.

02
Smart Contracts Script
The global public blockchain uses a script system in transactions. It is similar to the Forth language that is simple, stack-based, and processed from left to right. The script in the transaction output is intentionally designed to be non-Turing complete. There are no jump instructions to prevent loops. However, Turing processes can be achieved by using off-chain agents and using the ledger to store the calculation results.
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Download White Paper

The Bitcoin SV blockchain is defined as a blockchain with a height of #556767 and hash "000000000000000001d956714215d96ffc00e0afda4cd0a96c96f8d802b1662b" unmodified blockchain.

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