BEIJING, March 31, 2020 /PRNewswire/ -- Launched in August last year, RateSV is a financial platform on the Bitcoin SV (BSV) blockchain utilising big data. Its goal is to provide a convenient and efficient channel for moving data to blockchains, with plans to expand to data sources outside of financials in the future. Currently, however, as the infrastructure and tools of the Metanet protocol are still being built, the RateSV team has limited its product development to tools specific to the Metanet API service. Recently, they launched Metanet API service, MetaSV.
Founder of RateSV, Tsiming Ho, started by developing a compliance and auditing multi-chain explorer, satomoto.com, for Japanese blockchain businesses. When it launches in April, 2020, Satomoto will include native BSV support.
"Precisely because of the current circumstances, we decided to use the big data sets of Satomoto explorer to independently develop a set of data services for BSV applications," Tsiming explained.
"Aside from providing BSV blockchain transactions, addresses UTXO and other general API searches, [Satomoto] is uniquely capable of providing specialized API [services] specific to the on-chain data of the Metanet protocol. We named it MetaSV and will open it up for developers of other applications as well."
The core business of MetaSV is based on the concept behind cloud computing services. With the help of the MetaSV service, app developers on the Metanet need not have a full node set up, rather, they will have access to all of the the data services they need, with a fee paid to MetaSV based on the number of requests made. In addition, MetaSV uses cloud computing architecture to achieve elastic scalability, such that its services can scale infinitely.
Currently in its Beta-testing phase, MetaSV has four basic elements for developers to test on for free:
a. Extract data payload directly from txid
b. Search data on-chain based on parameters such as inputAddress and protocol
c. Search the corresponding transaction of b protocol based on file names
d. Support for Metanet's parent-child transactions
A number of Chinese BSV projects have joined the testing phase already. Later, MetaSV will also launch a variety of online toolkits and SDKs for developers.
Specialized data service providers like MetaSV will only stand to grow in numbers within the BSV ecosystem. Their responsibilities and competitiveness will come from lowering the cost of data storage and improving the efficiency of on-chain history search. Enterprise use cases on BSV will set higher requirements for data services built on the block chain, which will push data service providers to move from low-guarantee, free services to specialized, paid services. Commercialization will be the inevitable next step for BSV.