The long-awaited Teranode is in the final stages of testing. That’s what Teranode technical leader Siggi Òskarsson told Gavin Mehl in an interview on September 4.
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Dotting the i’s and crossing the t’s
Òskarsson tells Mehl that Teranode is literally in its final testing stages. Right now, the team is ironing out the quirks and potential flaws that come with a system that scales to 1 million transactions per second.
He says that, to scale to Teranode levels, everything had to be rebuilt from the ground up. That’s not an easy task, but he hasn’t seen anyone else even attempt it, let alone succeed.
For those who don’t know, Teranode splits different node functions into microservices. Whereas SV Node was a monolith, Teranode breaks everything down into chunks. Spreading this out over 10 minutes for each block means everything can be processed seamlessly, and massive scaling can be achieved.
Òskarsson says a few hundred thousand transactions per second are easy, but things start to break when you get past 700k. They reached over 1 million transactions in testing on AWS, but it’s important to take care of all the ‘what ifs’ before releasing Teranode to the public.
The CLARITY Act and why other blockchains can’t do this
Mehl points to the CLARITY Act, which is currently being debated in the United States. He says it seems like it was written for BSV. For example, the current definition of a ‘mature blockchain’ basically describes BSV.
Òskarsson urges caution, saying that many big players with deep pockets oppose BSV. They have powerful lobbyists working for their interests. That said, they can’t beat BSV technically, so they can only do so much.
Regarding regulations, Òskarsson says BSV Association played a key role in stopping proof-of-work from being banned in Europe. They showed what they are doing and why proof-of-work is important, and they managed to change regulators’ minds about a full ban.
Why can’t other blockchains like Ripple’s XRPL scale like BSV?
Òskarsson explains that proof-of-work is more secure and harder to roll back, but there’s no intercommunication between nodes.
With each node operating as an independent economic actor with no need to communicate with other nodes (other than reaching consensus on blocks), that capacity is freed up for processing transactions.
While he’s not sure on the exact percentage, one stat said half of all transactions on Solana are between nodes. That highlights why they can never scale to BSV levels.
What the future looks like post-Teranode
In the beginning, Teranode will run alongside SV Node, Òskarsson says. Gradually, it will take over, but for the first six to nine months, SV Node will still lead.
Characterizing AI as a “tsunami” that will change everything and make it difficult to verify the authenticity of anything, Òskarsson rightly says we need a scalable technology that can’t be manipulated to counter it. A scalable blockchain with hashing functions makes it possible to prove anything, and we are going to need that in the years and decades to come.
Watch: Bringing the Metanet to life with Teranode
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Source: https://coingeek.com/teranode-is-almost-ready-here-what-it-means-for-bitcoin/
