As with anything—even with people—there are two different kinds that complement each other. They simply complete each other.
It is like partnering ketchup with French fries, a graphic T-shirt with a blazer, and the colors black and white. The same goes for IPv6 and Bitcoin.
The Internet Protocol (IP) allows for computers to send data to each other on the Internet, where each computer has an IP address that distinguishes it from others on the network. The current IP version, IPv4, only has a limited number of addresses; and it has already run out of unique ones.
And that is why the world is steadily transitioning to IPv6, which is scaled to be able to generate unique addresses for each individual and device connected to the Internet. In fact, it will take 58,000 years for IPv6 addresses to be completely depleted, even when it is generating 10 million new addresses per second.
IPv4 not having the capacity to be able to provide each individual and device on the Internet with a unique address—they are usually reserved for large servers, and those on the same server share the same IP address—is not something a lot of people know. This makes it difficult to create single identities for everything on the Internet.
IPv6 makes identities possible, which then allows for true peer-to-peer or IP-to-IP communication. Put simply, IPv6 allows for machines and people to exchange information directly with each other. And Bitcoin being a peer-to-peer network built on blockchain technology completes the setup.
“[Bitcoin] is not as complex as people make up. It’s a ledger. It records things. It should scale. It should be cheap. There’s a reason for this most of the world’s population can’t afford things when they’re expensive. We don’t need solutions to help the rich do banking. Really. We’ve had those for a long time,” Bitcoin creator and nChain Chief Scientist Dr. Craig Wright explained in his keynote presentation at the recently held BSV Global Blockchain Convention in Dubai.
“We need solutions to help people who aren’t included in the global economy. We need a way of making machines talk to machines cheaply so that we can actually start implementing these globally. IoT is going to be taking off, and we don’t want a series of walled gardens owned by a few large corporations. We want interoperable systems… so people could talk to people,” Dr. Wright added.
To clarify, the Bitcoin that Dr. Wright is talking about is BSV and not BTC. This is because BSV has restored the original Bitcoin protocol and unleashed its capacity for limitless scaling. This means that data blocks and throughput are continuously increased while fees are reduced to tiny fractions of a penny.
As BSV scales, it becomes more efficient in handling big data and instant transactions, more secure, more private, and a whole lot cheaper. IPv6 and Bitcoin together make endless implementations possible, making next-generation technologies flourish.
“If I want to be able to trace a source of meat from end to end, so that in the future, if something like the mad cow incident in Britain happens, rather than killing practically every cow in the country, I can monitor the individual farms, and pick and choose and have a surgical response—saving millions of farmers millions of farms. We can do that,” Dr. Wright revealed.
In a nutshell, Bitcoin in the form of BSV maximizes the potential of IPv6. And if IPv6 could talk, it would probably say to BSV, “You complete me.”
Author: Makkie Maclang