The Bitcoin SV (BSV) Node Team have made an exciting announcement for the BSV blockchain, making payments faster and reducing costs for businesses. Three new software packages will improve Simplified Payment Verification (SPV) and P2P payments.

The new releases add up to the Bitcoin SV Node v1.0.6, mAPI (formerly Merchant API) v1.2.0, and SPV Channels CE v1.0.0. With these new tools, BSV users will be able to make payments directly to each other and not be required to download a copy of the entire blockchain to verify them.

For users, BSV has already been the fastest digital currency payment option. Wallet providers and businesses though have had to handle the burden of verifying payments by downloading the full blockchain. These new tools will relieve them of that additional cost, allowing them to experience the benefits and cost savings of SPV and P2P as well. Only BSV miners will be required to have a full copy of the blockchain

Bitcoin SV Infrastructure Team Technical Director Steve Shadders commented on the latest releases: