ORIGINAL AUTHOR: Bryan Daugherty
The Transmission Control Protocol and Internet Protocol (TCP/IP) is a suite of communication protocols used to interconnect network devices and pass data over the Internet.
The TCP/IP Protocol stack is made up of 4 layers; each having a different responsibility to process complex network interactions.
Originally developed to meet the needs of the United States Department of Defense, the protocol was standardized and opened to the public allowing anyone to begin developing network software.
Since then, it has become the standard and the backbone of today’s #internet.
Similar to #tcpip, the #Bitcoin (#BSVBlockchain) is a #data #monetization and management network that can re-invent the internet providing powerful operational efficiencies, improved #datasecurity and the ability to use the #blockchain as a single source of truth — a universal server.
The core function of the TCP/IP and Bitcoin protocol is to specify how data is exchanged including how it is broken down, addressed, transmitted, validated, and received.
As applied in the layered #OSI-based approach, both TCP/IP and Bitcoin support an application layer with standardized data exchange such as HTTP, #FTP, #SMTP, and #SNMP.
Bitcoin improves upon this functionality by providing a native #token that allows access to the network through simple #micropayments.
The combination of #nanopayments and data transactions removes the reliance of intermediaries for payments and attribute “value” to #information.
In the TCP/IP model, each layer is independent of each other and relies on a handshake as the data is passed from one layer to the next. The #applicationlayer provides the specific data that will be sent across the internet.
The #transportlayer defines how applications create communication channels and manages how the data is to be broken down. It ensures that each of the packets of information are sent without error and received in the correct order.
The #networklayer provides the destination or address of where the data will be going – this utilizes the #InternetProtocol (IP) which assigns a unique identifying number called an #IP address to every machine on the internet.
Bitcoin differs in that the BSV ledger serves as a secure #distributive database and ruleset for both the transport and network layer to work in concert. It is similar to the logic controller in the Data Link Layer which allows seamless integration of all the layers, messaging to nodes and ensuring finalized delivery to the device.
As transaction processors receive transactions, each entry is #timestamped and added into the ledger in the order received – very much akin to a notary public service on the internet. This Proof-of-Existence is generated, and additional #ProofofWork ensures the near complete immutability of the records.
The transport level is the Bitcoin transaction itself, where data or money is transferred across the network within a secure transaction envelope.
Each transaction consists of three key pieces of information: the header, the input(s), and the output(s). This is equivalent to the metadata and IP address (output address) contained when you send data over the internet.
The network layer in Bitcoin is where many innovative and disruptive blockchain-based capabilities begin to empower an entirely new digital experience. Currently, there are 28 individual protocols which have been implemented by application developers to store websites, social media posts, images, music, smart contracts, identity, and other types of data including tokens.
These protocols can be independent, or used in conjunction with one another to create all sorts of new possibilities with data within a Bitcoin transaction.
A New Paradigm Awaits
“The Internet becomes a sidechain to the Bitcoin blockchain.”
— Craig S Wright, creator of bitcoin
Bitcoin is considered the most secure and efficient data management and monetization protocol ever developed, and the Metanet is an extremely efficient data structure protocol which lives on top of Bitcoin.
The “#Metanet is the world’s first 4 dimensional computer” a specific, but generic protocol that allows anyone to build any type of data structure used in computer science – all inside a bitcoin transaction.
The Metanet protocol fuses Bitcoin’s highly secure and instant sub-cent transactions with on-chain data storage and transferability enabling efficient and secure web usage. This will bring forth an Internet of Value where Micropayments become a means to both access and monetize data.
Breakthroughs to scale Bitcoin’s original protocol to prepare for global adoption have been extremely successful with recent tests eclipsing 100k transactions per second.
With unbounded scaling unlocked, development teams from across the world have been churning out data infrastructure protocols which allow for the integration of legacy IT systems as well as interoperability for smooth enterprise adoption and transformation.
#BitcoinSV’s ability to process extreme data volume coupled with its superior information security features will provide a next-generation, #tamperproof #distributed infrastructure for enterprise applications embracing the transition from #BigData to #ExtremeData.
Like TCP/IP, Bitcoin’s protocol has been battle-tested and found to be operationally sound with 99.9860% uptime since its inception on Jan 3rd 2009.
While global technical standards are developed and more education opportunities such as Bitcoin Academy are offered, the power of creating a more transparent, auditable and honest world awaits!