The Bitcoin SV team has announced amazing changes coming soon to the BSV chain to help restore Satoshi's original vision for Bitcoin. BSV announced the following changes;

The first upgrade, code named “Quasar”, is proposed for Jul 24th 2019 and is primarily focused on scaling.  At a protocol level the only change planned for this upgrade is a lifting of the default block size hard cap.  We have previously signalled an intent to raise the cap to 512MB however after consultation with the Bitcoin Association (the owner of the Bitcoin SV project) and miners representing a significant majority of hash rate it has been decided that the Bitcoin SV software will implement a default of 2GB in July.  Initially a majority of miner hash rate will manually set their hard cap down to 512MB.  The reasoning behind this is simple, the Bitcoin SV network hit the 128mb block cap unexpectedly early and the miners don’t want to hit the cap again after it’s raised.  If the default is 2GB then miners, by consensus, are able to lift the limit without further software changes.  There is of course a lot of plumbing under the hood that goes into increasing our scaling capacity.  Things like parallel validation paths and cleaning up a lot of expensive to run code that was put in place to handle full blocks.  In the coming weeks I will make a detailed post on this and why we believe this both a safe and necessary extension of prior plans.

These are some amazing plans. Just look at the explosion of development with the current block size. With a 2Gb cap, companies like Netflix would be able to store, transact and stream movies directly from the Bitcoin SV blockchain. No other blockchain project can do even a fraction of what Bitcoin SV is capable of and will be even more capable soon.

The team also went on the add that "so long as those changes are completed we intend to bring the planned date for allowing unlimited block size forward by almost a year and lift the cap completely in the Genesis upgrade."

The (incomplete) list of proposed changes include:
  • Sunsetting of P2SH
  • Replacing 32 math op codes with BigNumber versions
  • Restoration of original OP_RETURN functionality (with a fix for the OP_1 OP_RETURN vulnerability)
  • Limited support for the original sighash algorithm to ensure any legacy transaction that have been kept offline become valid on BSV again
  • Removing all extraneous limits on script sizes, transaction sizes etc…

Steve Shadders, one of the lead developers for Bitcoin SV also went on to list a few items that are done outside of the consensus-level changes. They also plan to address the following:

  • Parallel transaction validation
  • Parallel block validation
  • Poison block attack mitigations
  • Poison script attack mitigations
  • Horrific mempool structures
  • The cost of small blocks (aka fee tracking)
  • Restoring fast propagation (work in progress)
  • Ancestor limit
  • Child pays for parent
  • Updating the mining API
  • Fixing the block building process
  • QA process improvement