CoinGeek Weekly Livestream Special: WeAreDevelopers World Congress Day 2 recap

Kurt Wuckert Jr. was once again streaming live from the WeAreDevelopers World Congress in Berlin last week. On day two, BSV developer Jad Wahab joined him to talk about Liteclient and scaling Bitcoin with SPV.

Jad Wahab on Bitcoin app development and BSV adoption

Wuckert opens by reiterating that on day two of the conference, there’s been plenty of interest in Bitcoin’s technical capabilities. On day one, he noted that many people are surprised when they discover that Bitcoin is more than a mere speculative asset. He notes more of that on day two.

Wuckert is then joined by the Bitcoin Association’s Director of Engineering, Jad Wahab. He tells us he’s happy with how his presentation on building apps on Bitcoin went and mentions that he had the opportunity to demonstrate Haste Arcade, NFTs, and PewPew to the audience. He tells us that the presentation elicited lots of questions from audience members but reminds us that those involved in the blockchain industry live in a bubble and that this technology is still alien to most everyday people.

Wuckert asks whether developers have shown much interest in BSV as Wahab has spoken with them. He replies that many are reluctant to dive in at the deep end. He believes attracting entrepreneurs and connecting them with Satoshi Block Dojo, and other venture firms should be the first approach. Developers will then follow in time.

Liteclient and SPV to scale Bitcoin

Those who tuned in for the BSV Global Blockchain Convention will know that Wahab has been relentlessly focused on Liteclient. He tells Wuckert that the Liteclient toolbox is now live and that the next step is working with ElectrumSV to develop a replacement for the old Bitcoin wallets that most have relied on.

Wahab emphasized that even the older ‘SPV’ wallets aren’t truly SPV compliant. He says the key missing feature is direct payments which would travel from sender to receiver and then to the blockchain. According to Wahab, Electrum SV is in the process of transitioning, and right now, Wahab and his colleagues are working on laying the foundations and getting others to think about how to implement SPV.

Wuckert asks if other Bitcoin forks could watch what’s happening on BSV and simply copy it. Wahab answers that they’re going in a completely different direction with a focus on decentralization, censorship-resistance, etc., and that he doesn’t think they’ll try to use SPV anytime soon.

Wrapping up, Wuckert asks Wahab what else he’s working on. He answers that he has a strong interest in tokens and that he would like to make them SPV-friendly, too.

Key takeaways: SPV is the way forward

Anyone who regularly listens to Bitcoin’s inventor, Dr. Craig Wright, knows he has been pushing SPV for years. Finally, it appears that SPV is catching on, thanks to the hard work of Wahab and others. 

With the Liteclient toolbox now live and ElectrumSV and others making the transition, it won’t be long before Satoshi’s vision for Bitcoin will finally be a reality. Bitcoin’s best years are still ahead of it as it scales to become a true peer-to-peer electronic cash system.

https://www.youtube.com/watch?v=84Q2YmxJLNU