Being part of a decentralized eco-system has its advantages; if anyone succeeds, we all succeed a little bit. But it also has major drawbacks which became obvious in the past year and a half. First there was the split of BTC and BCH, which could of been prevented had the whitepaper been followed. Now there is the splitting of BCH and BSV, which also could of been prevented had the whitepaper been followed. These developments (and more) have fragmented the usebase and hurt every project using and supporting Bitcoin.
The past few months have learned us that the only way for a wallet operator to be reliable, is to be as close to Satoshi’s vision as possible. Consistently, the solution always seems to be to go back to the whitepaper and follow the protocol as outlined by Satoshi. Every ‘issue’ people have with Bitcoin, every ‘problem’ businesses face building on Bitcoin has been answered by Satoshi; we seem too stubborn to believe it even though we’ve been evangelising it for 10 years. That’s why we’re releasing a new version of the CashPay wallet; one that’s closer to Satoshi’s vision and works more like described in the whitepaper.
For us as CashPay Solutions it is time to leave doubts behind and follow Satoshi’s vision. We can build without fear (or hope) of the protocol ever changing. Bitcoin is set in stone and the best way to scale it, has been outlined in the whitepaper. That’s why we choose stability over features and are releasing the new version of the CashPay wallet with reduced functionality.
The new CashPay wallet is an SPV wallet and does not rely on a backend server to work. It connects directly to the Bitcoin (SV) network without intermediaries. You have complete freedom and are in complete control of your money using the CashPay wallet. Because Bitcoin (SV) currently does not have the longest chain, the wallet is modified to follow a minority chain.
We are working on rebuilding Spend and Replace for the CashPay wallet with more options than before, while Order Anything will be a subscription based service with a monthly fee. Since CashPay does not support Coinbase anymore for Spend and Replace, we advise you to revoke the authorization given to the app on the Coinbase website.
An SPV wallet is one of the key-aspects of Bitcoin (SV) so we decided to open source the wallet and we intend to maintain and improve it long-term. We hope others in the Bitcoin (SV) community join us in building the CashPay wallet in alignment with Satoshi’s vision and tailoring it to using Bitcoin as cash.
Satoshi’s vision is the only way for Bitcoin to survive and we are more committed than ever before to Bitcoin as sound money for a free global society.