LONDON, April 27, 2020 /PRNewswire/ -- Today, Bitcoin Association – the global industry organization that works to advance Bitcoin SV – publishes its first annual report, covering its operations from February 2019-20. The report highlights the rapid growth and development of the Bitcoin SV ecosystem, as well as the work the Association has undertaken in its first year of operations to support the network's underlying technical infrastructure and business expansion.
Interest in Bitcoin Association has rapidly grown as Bitcoin SV has captured the digital currency spotlight. The BSV blockchain has seen application development explode globally, as developers and businesses make use of BSV's superior scaling, data capacity and micropayment capabilities. Growing usage - particularly at the enterprise level - has led to a rise in the number of daily transactions and average block sizes seen on the network to now regularly surpass BTC on most days and BCH every day.
This growth of the Bitcoin SV network and ecosystem is reflected in Bitcoin Association's Year 1 annual report. Featuring a comprehensive description of the Association's mission to accelerate the business use of Bitcoin SV – both as a blockchain and digital currency – the report illustrates the multi-faceted approach that the organization has pursued under the leadership of Founding President, Jimmy Nguyen.
Split into 12 sections, the report looks at the great strides made by the Bitcoin SV network during the past year – proving that Bitcoin can massively scale as Satoshi Nakamoto always intended and restoring the technical power of Bitcoin's original protocol. As summarized in the report, Bitcoin Association supports the Bitcoin SV Node team which works on the network infrastructure, is establishing a Technical Standards Committee, and is launching educational material and programs to train BSV developers. Bitcoin SV development activity has been robust with over 400 known BSV ventures and projects around the world.
Additionally, the report recounts the Association's remarkable membership growth; its global ambassador and events programs; the contributions it is making to academia and public policy; as well as a look at its quickly growing team.
Speaking on the release, Mr. Nguyen commented: "Looking through the Annual Report, it really brings home just how much Bitcoin Association has accomplished in its first year. In such a short time, the Bitcoin SV network has experienced serious development and transaction volume increase – demonstrating why it is the only blockchain with the capabilities required for enterprise use. We have been thrilled to see the Bitcoin SV community grow rapidly alongside us, with start-up entrepreneurs and now major enterprises alike demonstrating new use cases for BSV technology at an incredible rate. It's been a fantastic first year for the Association, but we're just getting started. We have an even bigger year planned for 2020 to bring Satoshi Vision to the world."
The report is available to download from Bitcoin Association's website.
About Bitcoin Association
Bitcoin Association is the global industry organization which advances Bitcoin SV. It brings together enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others in the Bitcoin SV ecosystem to advance the growth of Bitcoin commerce. The Association seeks to build a regulation-friendly ecosystem that fosters lawful conduct while enabling digital currency innovation.
SOURCE Bitcoin Association