The Internet's architecture ushered in a new era of informational and data-intensive applications, which have brought unmatched communications and convenience to billions of people across the world. Due to the ever-increasing popularity of online resources, the adoption of IPv6 remains the primary way to cope with the billions of connected devices and users interacting globally.
IPv6 is the sixth version of the Internet Protocol that allows for a unique 128-bit identifier for every device on the Internet. This means that it can provide about 340 trillion trillion trillion unique addresses to devices and users on the Internet. When paired with a scalable blockchain, IPv6 makes possible the true peer-to-peer communication stated in the Bitcoin whitepaper.
“Blockchain is designed for IPv6 – many people don’t know that. From the start, it’s an end-to-end solution, and there are not many end-to-end solutions on this planet. Some people will think it’s a peer-to-peer application – this is beyond a peer-to-peer application. By using the address space as a source and destination for blockchain transactions, you have the best model of the Internet,” founder and president of IPv6 Forum, Latif Ladid, said.
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True peer-to-peer or IP-to-IP communication requires a unique identity for each user on the Internet, which is only made feasible by IPv6. This will eliminate the need for consumers to rely on costly intermediaries or servers that do little more than increase the complexity and security concerns of direct connection.
Bitcoin, the first fully functional implementation of blockchain technology, is based on the idea of enabling real peer-to-peer communication. When it is made possible, cutting-edge innovations will emerge, including the Internet of Things (IoT), artificial intelligence (AI), and the metaverse.
With IPv6, there would be enough addresses for every single thing and person on Earth, plus room for billions of additional/alternative addresses. Consequently, they will be able to recognize one another. With everyone having a unique IP address, it will be easier for law enforcement agencies to track cybercrime and apprehend criminals.
In order to function properly, these aforementioned cutting-edge technologies will generate vast amounts of data, and a robust database will be required to store and organize this information. When it comes to this issue, blockchain technology becomes invaluable. To fully realize the potential of identities and decentralized, peer-to-peer communication, however, blockchain will need to scale to meet or exceed IPv6's capacity.
With this, Ladid believes that Bitcoin SV (BSV), which has enabled unbounded scaling of its blockchain, is the perfect candidate. Scaling means that transaction fees are kept to a minimum—with an almost negligible amount of 1/100 of a cent—while data blocks and throughput (measured in transactions per second) can be increased on demand.
As BSV continues to scale, it will no doubt be able to keep up with the increasing demands of the digital market. In the future, it may be able to transact in blocks the size of exobytes at speeds of billions of transactions per second for fees of 1/1000000 of a cent. It is not an exaggeration to suggest that the combination of IPv6 plus a scalable blockchain unleashes endless possibilities for innovation.