2019 was the year Bitcoin started to get back on track. Thousands of investors, developers, builders and fans—some of them returnees to the scene—found a reserve of new energy and enthusiasm. But if 2019 was the rebuilding year, 2020 is a year heavy with anticipation. People are expecting things to happen in 2020. What are some of the events we should be looking out for?
I should note, this isn’t meant to be a prediction and it’s certainly not a guarantee all these events will happen. Some are certain, others are maybes. They may all interact with each other in esoteric and mysterious ways. Recall the famous Donald Rumsfeld quote about known-knowns, known-unknowns, unknown-unknowns, if you will.
Let’s divide the 2020 issues to watch into two sections: Bitcoin technical issues (which are more certain to happen, but may have interesting effects) and issues surrounding Craig Wright (which are far less predictable to us, but could also have a large impact).
Here are the two main technical issues to watch in 2020:
Genesis: In the beginning…
In December 2019, the Bitcoin SV Node team began rolling out the “Genesis” upgrade to its Bitcoin SV Node software. The hard fork on February 4th, 2020 represents the last major step towards restoring the Bitcoin protocol as close as possible to the way Satoshi Nakamoto envisaged it in 2008.
Genesis will include some key features that will determine BSV’s future in 2020 and far beyond. It will allow Bitcoin to continue on its path to massively scale and it will introduce functionality for smart contracts, tokenization, and a raft of Metanet applications.
It removes any limit on transaction block sizes, giving miners more power to decide what kinds of data they’ll process (and make more money doing it). Improvements to the Bitcoin scripting language will allow more data in each transaction’s OP_RETURN functions. With Genesis, Bitcoin will also support more “non-standard” transactions, have parallel transaction…