Squire Announces Testing of Bitcoin SV Node

VANCOUVER, British Columbia, Dec. 03, 2019 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire”) is pleased to announce it has successfully completed testing of the latest version 0.2.2 (beta release) of the Bitcoin SV Node software using its custom cloud computing management and pooling software (“Taal Orchestrator”) and a subfleet of 2,500 blockchain cloud computers. During the week-long test period, Squire successfully processed over 35 Bitcoin SV blocks. Testing was performed in collaboration with leading U.K. blockchain research and development firm, nChain Limited (“nChain”), as part of the ongoing development and services agreement between Squire and nChain announced by press release of Squire on August 7, 2019.  Testing is part of Squire’s plan to enhance Taal Orchestrator to optimize and to develop internal controls for cloud computing fleets managed by Squire’s subsidiary, Taal Technologies SECZ (“Taal Tech”).  Taal Tech provides turn-key management services and oversight over enterprise-scale global blockchain cloud computing operations, totalling over 200,000 ASIC cloud computers, or approximately 3,000 petahashes of computing power.

Bitcoin SV Node

Bitcoin SV Node software version 0.2.2 is a major milestone release featuring:

  • Parallel transaction validation, resulting in a 50% improvement in cloud computing speed
  • Incremental block assembly to support the building of bigger blocks and in support of transaction scaling
  • Internal block streaming to optimize system memory resources when processing bigger blocks

These features bring substantial improvements to the capacity of the Bitcoin SV blockchain and pave the way for significant transaction scaling. Preliminary testing on the Bitcoin SV Scaling Test Network shows an increase from a sustained 200 transactions per second in version 0.2.1 to approximately 400 transactions per second with this version.

“This test is part of Squire’s leadership role in the…

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