EN | How to Reach 1 Trillion Blockchain Transactions in a Week | MERGE Madrid 2025

Good morning, Merge Madrid. I hope you're enjoying this uh third day of the conference. Um I have so far some great connections, uh great people, great talks. Um the one we had just now about the future of digital assets definitely very interesting. Um, I've had a lot of conversations around the next 10 100 trillion in value that's going to come on chain, how that's going to be managed.

And I'd like to offer you a slightly different take in terms of uh volume, not so much around value, but around utility. So, let's talk about not the next trillion dollars coming on chain, but the next trillion transactions. My name is Martin Coxel. Uh I'm the director of growth and strategic partnerships at BSV Association. We are a Swissbased nonprofit and our aim is to promote the BSV blockchain which is a version of Bitcoin.

The B and BSV stands for Bitcoin, Bitcoin Satoshi Vision and our aim is to have a version of Bitcoin that is scalable and suitable for enterprise use. Now that you've been able to uh admire my nice QR that you can use to connect with me on LinkedIn, I'm going to talk to you about how we can reach a trillion transactions on chain in a week. Quick disclaimer, we've not quite done it. We've done it in two weeks, but uh one week is our aspirational goal at this stage. So the answer is to how we do it.

I think I've already given it away, but the answer is the BSV blockchain and specifically the new implementation of our mining software called Terteranova. I won't get into the specifics, the technical details just yet, but ultimately this new network architecture is how we're going to drive infinite number of uh transactions. So tr a trillion is an aspirational number really. It could be much much more. So before I start with um explaining how we did it um or before we start with the why, I'll start with uh I'll get to the how afterwards.

I'll start with the why because I think it's important to give a bit more context as to why we might even need a trillion transactions on chain at any given point. I think if I had to say it in one phrase, I'd say we have a need for trust, right? Blockchain has not convinced I think at this this stage even though a lot of people in this room might be convinced of use of blockchain crypto the world at large has not yet been convinced they haven't seen the true value of it right governments enterprise companies they're still not there put that dip their toe in they've tried it but they have not yet adopted it what we're seeing still today is a dumbs of what we often refer to as web two companies. Web 3 is not quite here yet completely. We're getting there.

I think everybody in this room qualifies as being in the web 3 space. But again, most of the people outside of this room, outside of this conference hall are not there yet. The world is still dominated by players of the web two era. I won't name them. You know who they are.

their stock prices at the top of any their stock their stock names at the top of any stock exchange. So what I want to articulate for you here is that there is a need there's a need for trust and that trust comes through the technology which is blockchain. What we have currently is a process of data processing um globally we have data we have vast amount of data trillions of gigabytes and an exponential amount of of data growing over time. That data is refined to information. The information is refined to knowledge.

Knowledge becomes innovation. And eventually this is how we receive uh improvements in our everyday life. We have pain and risk at every single step of the way here. And this is what characterizes web two. Web 3 will fix that as we all know.

It will give us decentralized apps. We already have some of those. They are used by a minority of uh the population globally. And then those apps will give us ownership over data, censorship resistance and a number of other um I guess benefits which I think we're all pretty pretty familiar with. So we have a technology blockchain which gives us trust and ultimately the blockchain landscape for enterprise is where it's most needed.

Um the trustworthiness is inadequate in most companies and those companies are those that have the highest number of transactions and therefore require the most amount of trust. So the biggest misconception and the way this is represented is I think the world at large thinks that blockchain is a subcomponent of crypto. But really it's the other way around. Crypto is the tip of the iceberg. Blockchain and its use cases are effectively the much bigger opportunity here.

The benefits of blockchain, I think a lot of you are probably familiar with this already, but it creates trust. I've said it a number of times already. Just go back to the Bitcoin white paper. The word honest is in the white paper about 17 times I think and that's where it all started. So that honesty is the trust we ultimately need.

Beyond trust we also need security right secure exchanges blockchain gives us that. And then most importantly I think data integrity. Without data integrity, we will not have trust and we will not have true value on the blockchain. So it's a bold new world, a world sometime in the future where blockchain is the underlying technology that powers all our data management. uh it will give us connected digital identities.

It will allow us to have transactions between different AI components and and language models that ultimately can be trusted and used to generate value. All these processes are required for enterprise adoption. So we need that trust and we need to build it at scale. Like I said, enterprise scale is paramount to ultimately have world adoption. We can have and to have that trust at scale.

There's a few key parameters we need to to address and have absolutely in any blockchain technology which is efficient scaling, low transaction costs, resilience, stability. So basically uh security, sustainability obviously uh the technology needs to be green, needs to be efficient from a uh carbon footprint standpoint and we need regulatory compliance. I'm sure you've heard or watched a number of uh panels around legal considerations like Mika over the past few days. Uh it's very much at the heart of any crypto blockchain debate at this point. So we have a solution which is blockchain.

We have real world challenges which is how we manage the data and how blockchain is a part of that. Now we get to how we actually put the world on chain. So back to my nice little process uh design which I highlighted earlier. We have this technological push of data being transformed all the way to innovation and improvements in everyday life. That's web two with all these uh pain points of data integrity at every step of the way.

We can transform this web 3 the same process using blockchain gives us integrity every step of the way. The data can become information then knowledge innovation and it's all based upon data that we can actually trust. So trust gives us proper transformation. It gives us data we can actually use and improve the world to make it ultimately a better more optimal place. Ease and security are two key words here.

It has to be easy, has to be secure, otherwise it will not be adopted. So like I said initially, BSU blockchain offers a solution on how to do this. Uh you can come meet me at the end of the presentation if you'd like to talk about it a bit more. A quick recap of how this happens. I'm sure everybody here knows how but timestamping is the ultimate um feature which enables us trust.

We have blocks and every blockchain, every header contains u cryptographic elements from the previous block. This is how we maintain integrity. It's ultimately a ledger with timestamp data. That ledger gives us a unique record of truth. The truth creates the trust.

So now that I've explained the how or the why we need it uh quite quite a bit, let's get to what might actually happen. So I told you about putting a trillion transactions on train in a week. And the reason we want to do this is five years from now, we're probably going to have something like 125 billion uh digital devices connected worldwide. And that number keeps on scaling and increasing exponentially. As the population grows and then devices grow so does the amount of data we generate.

We do have an issue here uh the blockchain trma. A lot of people uh have probably heard about this. Um the misconception is that you cannot solve for these three aspects on blockchain at the same time. you always have to uh basically sacrifice one to enable the other two. So sacrifice security to get scalability and decentralization or vice versa.

We believe the trma can be solved. We believe the BSV blockchain actually solves it. And the way we solve it is with our network which is a proofof work network. a version of Bitcoin and a version of Bitcoin that scales. So back to my question, how do we reach a trading transactions on chain in a week?

And the answer I think I already gave it is Teranode. Teranode, our mining software. Teranode, the new network architecture which we've rebuilt. It has unbounded block size. Currently our biggest blocks are about 4 gigabytes in size but eventually they will be completely unbounded.

We'll have a limited block size. It's a hor horizontally scaled and modular blockchain meaning not every node has to have all the information from the chain right every node nodes can be specialized what we call overlays and they can function more efficiently and most importantly terode ads fully to the bitcoin white paper to give you an example of where we are and where we've been over to the left here we have uh the uh old network architecture ure which has been running since 2018 to a few months ago. In the middle here we have our current network architecture which is a hybrid model store still warning uh partially on the old model and the new one was terode and next as of next year our network will be fully u working under the terote software at which point we will reach new unprecedented milestones of scalability. So you probably heard this from a lot of different chains already, but Terode can support a million transactions per second and more. Uh that's 10 times more than what Visa and Mastercard do uh on per second any any day of the year even in say a peak season like I don't know Black Friday or other uh high shopping moments.

And if you know you're curious about the numbers behind all this, the uh the data industry that I'm talking about, the the industries that produce the data I'm talking about, you know, are increasing in size. Got a nice little chart here from Sister that shows the uh the rise in volumes of data to the uh famed 30 billion devices I was talking about earlier. those industries are producing the data that enter into the process I referred to a couple times where we have a transformation of data and we need integrity and trust every step of the way. So, I've been flounding the number of bit trillion transactions on chain for for a few minutes now already. And uh you might be wondering where can you check this?

Uh the fact is we ran a stress test on our network last year uh that reached the 1 million transaction per second uh number. And so we effectively put over a trillion transactions, 1.3 trillion exactly, on chain on our stress test network over a period of about 12 days. There's a QR code here. You can scan it and check out the uh data for yourself if if you're curious and want to do your due diligence, but there's more.

As of a few weeks ago, we've actually launched Teranode on our mainet and and its own test net. So you can test it yourself. Uh, as you can see, we have a little tweet here from a few weeks ago. You can actually go to our GitHub, download the software, run a Teran node node yourself, and connect to the to the test network. And last but not least, I think the important part here to mention is Teranode is completely open source.

You can test it for yourself. You can also use it. anybody's open to use it because it's under the open source license of BSV. And that pretty much concludes my presentation. If you're wondering, you know, just how big the potential this technology is, remember that by the time I'm finished speaking, Terode will have processed 15 million transactions.

And that in itself, I think, is a pretty good achievement. If you'd like to do a little bit more due diligence onto this technology and what it actually can do, uh you should definitely do your own research. I'd recommend starting here. We published a report last year with the help of the Boston Consulting Group. Uh this QR code will take you there.

You can also look into the uh external audit which is performed and check it out for yourself. That's about all I have time for today. Uh if there any questions um be around for a few minutes if you want to chat. Thank you very much.