On-Chain Data Storage
Bitcoin SV (BSV) can be used as stable, decentralised data storage.
Data is the “new oil” of the digital economy, and increasingly so. It is easily collected in large amounts due to the ever-growing online presence of most people and the internet connectivity of many smart devices used in everyday life. As such, it seems logical that storage of this data becomes equally important – both from a technical, as well as a regulatory/privacy viewpoint.
Bitcoin SV stores a full record of all transactions directly on-chain and these transactions contain any type of Digital content from text, code, data or traditional media like pdfs and images.
Additionally, and perhaps more key, is unlike other chains with limited block capacity Bitcoin SV’s derestricted block size means that traditionally unsupported ‘file-size heavy’ media like videos, audio files and even databases can be uploaded on chain too.
This creates a compelling situation whereby all data is not only accountable and secure but it is also available for others to access and to view – like an advanced CDN (Content Delivery Network), but with the added benefits of smart contracts (code) and encryption to further enhance its disruptive capabilities.