var TRINITY_TTS_WP_CONFIG={“cleanText”:”LiteClient toolbox: Modular components for Simplified Payment Verification.u23f8During one of the technical sessions at theu00a0London Blockchain Conference,u00a0Darren Kellenschwiler, Head of Application Development at theu00a0BSV Blockchain Association, and Jordan Kramsky, Solutions Architect at Amazon Web Services, talked to Shawn Ryan about theu00a0LiteClient toolboxu00a0and how it can help scale BSV blockchain.u23f8LiteClientu2019s purpose is to relieve the burden of running a full nodeu23f8Kellenschwiler begins by saying thatu00a0scalingu00a0requires us to focus on separate solutions, and this is where Simplified Payment Verification (SPV) comes in. The LiteClient toolbox allows exchanges and other businesses to verify transactions without running a full node, using block headers, Merkle proofs, etc.u23f8Kellenschwiler says that the idea of a LiteClient isnu2019t totally new and thatu00a0HandCashu00a0is effectively running one.u00a0Ty Everettu00a0of Project Babbage is also developing them.u23f8Some challenges and issuesu23f8What are some of the issues and challenges the LiteClient toolbox addresses? The main one, as has already been said, is that running a full node is too expensive. Kellenschwiler rightly points out that as the blockchain grows, it will become more expensive, and it doesnu2019t make sense for most businesses to spend resources verifying everyone elseu2019s transactions. LiteClient is about 100 times cheaper to run, by his estimation.u23f8Another potential challenge that needs to be addressed is counterparty verification. This is necessary for compliance reasons in many cases. Kellenschwiler says this can be doneu00a0peer-to-peeru00a0before funds are sent.u00a0Dr. Craig Wrightu00a0has previously explained how this might look in hisu00a0The Bitcoin Masterclassesu00a0with partial information sharing linked to oneu2019s identity.u23f8How did AWS discover the LiteClient toolbox?u23f8Kramsky says that AWS offers over 200 services, and LiteClient seemed like a natural fit. He was previously aware of it and thought it would be a good addition to AWSu2019 offering. He contacted the BSV Blockchain Association about getting it listed, and things went from there.u23f8Kramsky says that LiteClient interoperates well with existing AWS services, especially those related to security. They want to make it accessible to their customers. He tells us that AWS always begins with the customer and works back, and LiteClient fits nicely after this customer-focused analysis.u23f8Sending Merkle proofs with transactions and the superiority of the UTXOu00a0modelu23f8Kellenschwiler says itu2019s not yet common to seeu00a0walletsu00a0that sendu00a0Merkle proofsu00a0along with transactions. Previously, exchanges pushed back, saying they couldnu2019t verify transactions were valid, and he thinks Merkle proofs could solve this. Itu2019s the same as having a block without all the redundant data, he says.u23f8Delving deeper into the pointlessness of every business verifying every transaction, Kellenschwiler points out that one of the advantages of theu00a0UTXO modelu00a0is that it allows you to focus on your transactions alone, whereas account-based models do not. Each business verifying all transactions is like a state machine and misses out on the infinite scaling potential of UTXO-based systems.u23f8How easy is it to get started with LiteClient?u23f8Kellenschwiler says it isnu2019t that easy yet, but heu2019s working on it. Anyone interested should read the available documentation and reach out to the BSV Blockchain Association for more information. LiteClient exists to move the burden of running a full node, and people should take advantage of that.u23f8Watch London Blockchain Conference Day 1 Highlights: Revenue generation with blockchain techu23f8″,”headlineText”:”LiteClient toolbox: Modular components for Simplified Payment Verification”,”articleText”:”During one of the technical sessions at theu00a0London Blockchain Conference,u00a0Darren Kellenschwiler, Head of Application Development at theu00a0BSV Blockchain Association, and Jordan Kramsky, Solutions Architect at Amazon Web Services, talked to Shawn Ryan about theu00a0LiteClient toolboxu00a0and how it can help scale BSV blockchain.u23f8LiteClientu2019s purpose is to relieve the burden of running a full nodeu23f8Kellenschwiler begins by saying thatu00a0scalingu00a0requires us to focus on separate solutions, and this is where Simplified Payment Verification (SPV) comes in. The LiteClient toolbox allows exchanges and other businesses to verify transactions without running a full node, using block headers, Merkle proofs, etc.u23f8Kellenschwiler says that the idea of a LiteClient isnu2019t totally new and thatu00a0HandCashu00a0is effectively running one.u00a0Ty Everettu00a0of Project Babbage is also developing them.u23f8Some challenges and issuesu23f8What are some of the issues and challenges the LiteClient toolbox addresses? The main one, as has already been said, is that running a full node is too expensive. Kellenschwiler rightly points out that as the blockchain grows, it will become more expensive, and it doesnu2019t make sense for most businesses to spend resources verifying everyone elseu2019s transactions. LiteClient is about 100 times cheaper to run, by his estimation.u23f8Another potential challenge that needs to be addressed is counterparty verification. This is necessary for compliance reasons in many cases. Kellenschwiler says this can be doneu00a0peer-to-peeru00a0before funds are sent.u00a0Dr. Craig Wrightu00a0has previously explained how this might look in hisu00a0The Bitcoin Masterclassesu00a0with partial information sharing linked to oneu2019s identity.u23f8How did AWS discover the LiteClient toolbox?u23f8Kramsky says that AWS offers over 200 services, and LiteClient seemed like a natural fit. He was previously aware of it and thought it would be a good addition to AWSu2019 offering. He contacted the BSV Blockchain Association about getting it listed, and things went from there.u23f8Kramsky says that LiteClient interoperates well with existing AWS services, especially those related to security. They want to make it accessible to their customers. He tells us that AWS always begins with the customer and works back, and LiteClient fits nicely after this customer-focused analysis.u23f8Sending Merkle proofs with transactions and the superiority of the UTXOu00a0modelu23f8Kellenschwiler says itu2019s not yet common to seeu00a0walletsu00a0that sendu00a0Merkle proofsu00a0along with transactions. Previously, exchanges pushed back, saying they couldnu2019t verify transactions were valid, and he thinks Merkle proofs could solve this. Itu2019s the same as having a block without all the redundant data, he says.u23f8Delving deeper into the pointlessness of every business verifying every transaction, Kellenschwiler points out that one of the advantages of theu00a0UTXO modelu00a0is that it allows you to focus on your transactions alone, whereas account-based models do not. Each business verifying all transactions is like a state machine and misses out on the infinite scaling potential of UTXO-based systems.u23f8How easy is it to get started with LiteClient?u23f8Kellenschwiler says it isnu2019t that easy yet, but heu2019s working on it. Anyone interested should read the available documentation and reach out to the BSV Blockchain Association for more information. LiteClient exists to move the burden of running a full node, and people should take advantage of that.u23f8Watch London Blockchain Conference Day 1 Highlights: Revenue generation with blockchain techu23f8″,”metadata”:{“author”:”Gavin Lucas”},”pluginVersion”:”5.7.4″}; |
During one of the technical sessions at the London Blockchain Conference, Darren Kellenschwiler, Head of Application Development at the BSV Blockchain Association, and Jordan Kramsky, Solutions Architect at Amazon Web Services, talked to Shawn Ryan about the LiteClient toolbox and how it can help scale BSV blockchain.
LiteClient’s purpose is to relieve the burden of running a full node
Kellenschwiler begins by saying that scaling requires us to focus on separate solutions, and this is where Simplified Payment Verification (SPV) comes in. The LiteClient toolbox allows exchanges and other businesses to verify transactions without running a full node, using block headers, Merkle proofs, etc.
Kellenschwiler says that the idea of a LiteClient isn’t totally new and that HandCash is effectively running one. Ty Everett of Project Babbage is also developing them.
Some challenges and issues
What are some of the issues and challenges the LiteClient toolbox addresses? The main one, as has already been said, is that running a full node is too expensive. Kellenschwiler rightly points out that as the blockchain grows, it will become more expensive, and it doesn’t make sense for most businesses to spend resources verifying everyone else’s transactions. LiteClient is about 100 times cheaper to run, by his estimation.
Another potential challenge that needs to be addressed is counterparty verification. This is necessary for compliance reasons in many cases. Kellenschwiler says this can be done peer-to-peer before funds are sent. Dr. Craig Wright has previously explained how this might look in his The Bitcoin Masterclasses with partial information sharing linked to one’s identity.
How did AWS discover the LiteClient toolbox?
Kramsky says that AWS offers over 200 services, and LiteClient seemed like a natural fit. He was previously aware of it and thought it would be a good addition to AWS’ offering. He contacted the BSV Blockchain Association about getting it listed, and things went from there.
Kramsky says that LiteClient interoperates well with existing AWS services, especially those related to security. They want to make it accessible to their customers. He tells us that AWS always begins with the customer and works back, and LiteClient fits nicely after this customer-focused analysis.
Sending Merkle proofs with transactions and the superiority of the UTXO model
Kellenschwiler says it’s not yet common to see wallets that send Merkle proofs along with transactions. Previously, exchanges pushed back, saying they couldn’t verify transactions were valid, and he thinks Merkle proofs could solve this. It’s the same as having a block without all the redundant data, he says.
Delving deeper into the pointlessness of every business verifying every transaction, Kellenschwiler points out that one of the advantages of the UTXO model is that it allows you to focus on your transactions alone, whereas account-based models do not. Each business verifying all transactions is like a state machine and misses out on the infinite scaling potential of UTXO-based systems.
How easy is it to get started with LiteClient?
Kellenschwiler says it isn’t that easy yet, but he’s working on it. Anyone interested should read the available documentation and reach out to the BSV Blockchain Association for more information. LiteClient exists to move the burden of running a full node, and people should take advantage of that.
Watch London Blockchain Conference Day 1 Highlights: Revenue generation with blockchain tech
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