BSV Network Layers
You can imagine the Bitcoin SV network as operating on at least three layers.
- The network layer represents the base, peer-to-peer network where blocks are filled with data transactions and relayed to other participants.
- The Metanet protocol lies atop the network layer and defines a standard on how data and transactions can be related to each other, providing a stable structure for applications and services to build from. It enables the concept of a better, more commercial Internet powered by data and activity on the BSV blockchain.
- The application layer is made up of services offered leveraging Bitcoin SV in any way, for payments and/or data transactions.
The Bitcoin SV network consists of peer-to-peer transactions using the Bitcoin protocol. The protocol defines how data [whether transfer of Bitcoin monetary value, other data or both together] are sent from A to and establishes the ruleset for how transactions can be constructed. The UTXO model provides a flexible means of recording ledger entries for efficient validation and querying.
“The Metanet is a global protocol and framework, designed by Dr. Craig Wright, for structuring and facilitating the on-chain internet for the Bitcoin SV blockchain.” – source.
The Metanet protocol defines how transactions can be related to each other via a tree structure on top of the base network. Transactions in this layer can have 0 or 1 parents, but many children. The Metanet is structured similarly to a home page on the Internet (parent) that has many clickable links below it (children) that lead further down into the site. The difference is that the Metanet sits atop the blockchain.
Browse the beginnings of many Metanet applications easily by visiting: https://www.agora.icu/
Jack Davies – Researcher at nChain blog series on Metanet:
Jack Davies presentation at CoinGeek Toronto on the Metanet:
_unwriter Medium post on the vast potential of implementing the Metanet protocol:
Developers should not need to know much about the Bitcoin protocol or Scripting language to build great applications on BSV. An application layer will create easy-to-use interfaces between what businesses and developers want to build, and the more complicated Bitcoin network mechanics that lie “under the hood.” Programs can leverage the money features, data structures and even each other with Bitcoin SV – since the protocol enables a global ledger for anyone to work on, the potential for interoperability between applications is unprecedented. Programs no longer need to operate solely on servers and their own databases, they can interact with other applications using the same ledger.