At Bitping, we’re constantly evolving to provide the best possible experience for our node operators and developers. Today, we’re announcing a significant change to our payout system: we’re consolidating all payouts to Solana, discontinuing support for BSV and BCH transactions. This decision wasn’t made lightly, and we want to share our reasoning and vision for the future.
Current Payout Distribution and the Case for Change
Although we originally launched as a BSV-centric product, we eventually added new currencies over the last couple of years. Noticably BCH and Solana, when we first launched these 2 other chains, BSV was still our primary payout currency but as time went on and BSV and BCH began to slip on the charts, Solana ended up taking over as the primary payout platform.
Our payment distribution over the last 6-12 months:
- Solana: ~85% of all payouts
- Bitcoin Cash (BCH): ~9% of payouts
- Bitcoin SV (BSV): ~6% of payouts
While supporting multiple chains offered flexibility, it also introduced complexity and operational overhead that impacted our ability to innovate and scale efficiently.
Why Solana?
Network Reliability and Performance
Lets get the first main complaint I hear about Solana out of the way; it’s past outages and congestion. Over the last few years Solana’s mainnet has had a few network congestion issues or even halts where transactions have been unable to go through. However, Solana has made remarkable strides in network stability and performance over recent years, besides congestion while the network reaches its highest network throughput in history alongside record market capitalisation across Solana itself and memecoins, Solana has continued to function and hasnt seen a major outage in coming up on a year. I expect this will continue to improve as time goes on and the team continues to improve the node software.
Superior Developer Experience
From what I have seen from interacting with the client libraries for Solana’s network, the toolchain and SDK that is offered to developers is best in class. As the creator of the bsv-wasm library, I have extensive experience developing across Bitcoin and its forks and I just dont think theres a good comparison between the networks. On top of the thriving developer community, wealth of documentation and research resources, I havent seen such a lively developer community since early Bitcoin and BSV.
Leading on from this, we have a strong tie to the Solana Developer community through the great Dean Little, one of my friends and Bitping’s ex-CEO, he’s at the forefront of development at Solana and we will be working closely with him to ensure the node-operators experience on Solana is top notch.
Microtransaction Capabilities
the goal that we are setting out to achieve with Bitping. At Bitping, we aim to democratise ISP level networking data, enabling businesses around the world to build best in class tools and products on top of our crowdsourced network. To do this we require the ability to pay nodes in micropayments. Solana still is very capable in regards to microtransactions and still remains one of the few chains that can allow us to actively achieve this.
Support Burden
Let’s talk about something that’s been taking up a lot of our team’s time - managing support across multiple chains. Each blockchain comes with its own unique set of challenges and technical quirks that we need to handle when processing payouts. When a node operator reports a cashout issue, we need to investigate problems specific to each chain, whether it’s BSV’s peculiar UTXO handling, BCH’s transaction quirks, or Solana’s occasional congestion. Having to maintain expertise across multiple chains isn’t just about the technical knowledge - it’s about the time and resources we spend troubleshooting different systems. Every hour we spend dealing with chain-specific issues is an hour we could be spending on improving Bitping’s core services and product offering.
By consolidating to Solana, we can focus our support efforts on a single chain, develop deeper expertise, and resolve issues more quickly.
Future Plans
Let’s dive into where we’re headed with Bitping’s payment system, because this Solana consolidation is actually setting us up for some exciting changes.
USD-Backed Earnings
Right now, our earnings system is still pegged to BSV behind the scenes - a remnant of our original architecture. We’ve been planning to move to USD-backed earnings for a while now, and this switch to Solana-only payouts is actually a crucial stepping stone in that direction. Here’s why: when we make the switch to USD pegging, we’ll only need to handle currency conversions and swaps on a single chain. No more juggling exchange rates and liquidity pools across three different blockchains. This significantly reduces the complexity of the transition and lets us focus on getting it right on one chain instead of three.
Instant On-Chain Payouts
But that’s not all - we’re working on something even more exciting. We’re developing a completely on-chain solution for Bitping payouts.
Instead of waiting for scheduled payouts, you’ll be able to claim your earnings whenever you want, instantly. No more payment windows, no more waiting periods.
This new system isn’t just about speed - it’s about removing complexity from our codebase. By moving the payout logic on-chain, we’re eliminating a ton of backend complexity that comes with managing payment schedules and processing batches of transactions. The system becomes more transparent, more efficient, and more reliable.
Conclusion
We know change isn’t always easy, but we’re confident this move to Solana-only payouts is the right step forward for Bitping and our community.
The transition has already begun and if you visit the dashboard, you will notice that Solana is your only payout method. Any payouts that were pending on other chains have been refunded into your account - your funds are SAFU. Set up a new wallet with Phantom or Solflare, etc and enter your new wallet address, the rest of the payout system will work as it always has from there on.
If you’re new to Solana or have questions about setting up your wallet, don’t worry - we’ve got you covered. Our team is ready to help you through this change.
Feel free to drop us a line in our Telegram group if you have any questions about the migration: https://t.me/bitping
